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In reply to the discussion: 401Ks are a disaster: Column [View all]Common Sense Party
(14,139 posts)175. You only lose when you have to sell at a loss.
Those who were close to retirement lost, if they hadn't gotten more cautious with their investment mix.
Those who have decades to go didn't lose anything--the value of their shares went down, but they still had the same number of shares.
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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