General Discussion

RC

(25,592 posts)

18. Ask your bank about 401K retirement accounts.

Thu Dec 27, 2012, 02:58 PM

Dec 2012

I took mine from the stock market and put it into a CD type 401K. It is immune from the stock market. but doesn't pay all that well. But it is safe because it is insured by the FDIC. If you are nearing retirement age, within 7 or 8 years, it is something to look into. Also being a type of CD, you need to let it set for 7 years or so. Because of when I found out about it, I have to wait till I am 72. For me that is fine. Between a small pension and Social Security, I get more than the average monthly pay, than if I were still working at today's wages.

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Since 1981, private sector defined retirement benefits have shrunk from 60% to 10% of workers [View all] michigandem58 Dec 2012 OP

My employer is cutting off pensions at the end of 2013 liberal N proud Dec 2012 #1

And how big has your company CEO's compensation been? Yo_Mama_Been_Loggin Dec 2012 #3

He took a 47% increase this year liberal N proud Dec 2012 #6

Along with stagnant wages for the exact time period as well. SugarShack Dec 2012 #2

Thanks, Reagan Zoeisright Dec 2012 #4

My first thought, too michigandem58 Dec 2012 #5

And thanks to everybody who voted for Reagan. yardwork Dec 2012 #12

+100000000 NNN0LHI Dec 2012 #16

K and fucking R slackmaster Dec 2012 #7

We should be working to recreate the world our parents enjoyed abelenkpe Dec 2012 #11

401K reteachinwi Dec 2012 #8

Good Point buzzroller Dec 2012 #9

Ask your bank about 401K retirement accounts. RC Dec 2012 #18

sounds like a great time to raise the eligibility age for medicare and abelenkpe Dec 2012 #10

On top of that, how many people Heywood J Dec 2012 #13

Mergers and Acquisitions Deny and Shred Dec 2012 #14

Yeah. And when the stock market crashes so does your 401-k nest egg judesedit Dec 2012 #15

But so did any pension funds... OneMoreDemocrat Dec 2012 #17

See post #18 RC Dec 2012 #19