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In reply to the discussion: 401Ks are a disaster: Column [View all]DCBob
(24,689 posts)90. Is it also "stupid" to note that states are going bankrupt trying meet their pension liabilities.
Also, is it possible for you to discuss this topic without resorting to personal insults?
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We will have a greater need for social security in the future than we do now because
liberal_at_heart
Feb 2013
#1
i also have personal experience, and age. most people do, in proportion to their years. i have
HiPointDem
Feb 2013
#73
they purposefully bankrupted themselves in order to ditch pensions, in many cases. i can't
HiPointDem
Feb 2013
#72
bankruptcy for profit has been going on for eons. you can see the shape of it back in the time
HiPointDem
Feb 2013
#221
Exactly. The 401(k) was introduced in the 70s as a supplement for the executive class
Egalitarian Thug
Feb 2013
#143
Excellent point about the stagnation of wages and inability to contribute to plans
suffragette
Feb 2013
#204
And even those who dutifully contributed to their 401Ks saw their $$ go straight to hell at least
Nay
Feb 2013
#144
They only "work" if you are extremely highly paid; after all, they were set up originally
duffyduff
Feb 2013
#24
"Recent and near-retirees"---Wait! I thought the Baby Boomers were living the Life of Reilly on the
WinkyDink
Feb 2013
#7
Yup, die at work, that's what I say- That way, there'll be someone around to deal with it
NBachers
Feb 2013
#81
i remember that too. we had one of those information sessions and were supposed to choose
HiPointDem
Feb 2013
#50
Taxes paid for govt workers' compensation, of which pensions are one deferred part.
Gidney N Cloyd
Feb 2013
#65
Is it also "stupid" to note that states are going bankrupt trying meet their pension liabilities.
DCBob
Feb 2013
#90
The pension obligation shortfalls are certainly a burden but the pension systems didn't cause it.
Gidney N Cloyd
Feb 2013
#117
You've gone way past the level where you could be considered just uninformed.
Jakes Progress
Feb 2013
#182
People think that because they have taken a hit or that they never had a pension,
duffyduff
Feb 2013
#188
That's simply wrong. The state pensions were funded by deferred earnings of state workers.
Egalitarian Thug
Feb 2013
#193
after reading this report I agree with your observatiion, I thought 401k would be good for most
uponit7771
Feb 2013
#102
LOL, I was at Data General in the early '80s when they rolled out their 401K program. It
Flatulo
Feb 2013
#23
401K programs are another get richer scheme for the managing organization.
liberal N proud
Feb 2013
#28
There are basically two ways to do that. 1. Dumb luck, and 2. Learning how to manage investments.
slackmaster
Feb 2013
#46
3. Finding investment advisers that aren't ripoff artists, many exists if people take the
bluestate10
Feb 2013
#57
I intend on working until I am 70 and then dieing shortly thereafter to satisfy the
madinmaryland
Feb 2013
#47
The problem is they forced people into funds that had high fees, and not always
still_one
Feb 2013
#61
I'm in the process of closing out one that was costing me about $100 per year as an annual fee
slackmaster
Feb 2013
#74
True. I quit that company about three years ago but hadn't paid enough attention to the fees.
slackmaster
Feb 2013
#79
Pensions only work if the company stays in business and if you work your whole career at one company
FarCenter
Feb 2013
#80
Another aspect, universally ignored by the proponents of this long-con, is the percentage
Egalitarian Thug
Feb 2013
#85
401k plans can and do work for many people, but only if they contribute.
Common Sense Party
Feb 2013
#91
Problem is that just because they work some of the time doesn't mean they'll work all the time.
HomeboyHombre
Feb 2013
#105
I apologize, I misread my statement. My actual returns are not unlike yours < 10%
lumberjack_jeff
Feb 2013
#128
Wife and I are already talking about passive retirement, this is disgusting
uponit7771
Feb 2013
#100
99% of the posts here don't seem to understand 401ks or pensions and how they work....
cbdo2007
Feb 2013
#106
401Ks are no substitute for a pension. Every person should have a pension, period. There is no good
stevenleser
Feb 2013
#108
No, pensions are supposed to be independant of the company that paid into them.
stevenleser
Feb 2013
#114
Steve. Laws are laws. Pensions are attached to the company that provide them.
bluestate10
Feb 2013
#135
Tell that to the employees of the bankrupt airlines and other companies
ProgressiveProfessor
Feb 2013
#194
The disappearance of pension plans and the decline of Unions has gone hand in hand.
bluestate10
Feb 2013
#138
And hey, when you refuse to address the real problems of America's economic woes . . .
HughBeaumont
Feb 2013
#124
Uh, if anyone's missing America's real problem by a country mile, it sure isn't me.
HughBeaumont
Feb 2013
#130
Apparently, smccarter, life has been good to you and has handed you ponies and rainbows
Trailrider1951
Feb 2013
#131
Many of us took it personally because your original post in this thread was lacking in empathy
stevenleser
Feb 2013
#156
Look on the bright side: he likely is right there with ya on those drone strikes! nt
Romulox
Feb 2013
#159
Plan on dying at your fucking desk, pole, mine shaft, restaurant, forest, canyon workplace.
lonestarnot
Feb 2013
#162
Nonsense. I know hundreds of average people who will have hundreds of
Common Sense Party
Feb 2013
#174