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In reply to the discussion: White workers have nearly five times as much wealth in retirement accounts as black workers [View all]Nuclear Unicorn
(19,497 posts)44. Around 60%; so, around $9 trillion.
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White workers have nearly five times as much wealth in retirement accounts as black workers [View all]
eridani
Feb 2016
OP
I'd be interested to see the spread in those retirement accounts within the white population.
Erich Bloodaxe BSN
Feb 2016
#1
The switch to 401(k)s hurts everyone, but black people still take the brunt of it n/t
eridani
Feb 2016
#3
Not having a defined benefits pension hurts people who don't make enough to save n/t
eridani
Feb 2016
#6
Many jobs do not offer 401(k)s. It's an incentive offered by employers to attract workers.
Nuclear Unicorn
Feb 2016
#10
Okay, but that's not an unfairness issue. That's employers not being able to offer a benefit.
Nuclear Unicorn
Feb 2016
#15
Not to draw too fine a point but 401(k) accounts are investments, making employees shareholders.
Nuclear Unicorn
Feb 2016
#25
And defined pension plans are massive collective investments making the Plan giant shareholders
Bluenorthwest
Feb 2016
#32
There's over $18 trillion in retirement accounts, only $5 trillion of which are in IRAs
Nuclear Unicorn
Feb 2016
#37
You mean the people who have less than $5000 in savings will have hurt feefees?
eridani
Feb 2016
#38
What do you propose should happen to the $15 trillion in invested retirement accounts?
Nuclear Unicorn
Feb 2016
#39
Again, it's not the 1% who are invested in 401(k)s. They don't need them.
Nuclear Unicorn
Feb 2016
#46
I didn't say the top 10% is middle class; I said the middle class are the ones invested in 401(k)s.
Nuclear Unicorn
Feb 2016
#48
So, you would rip $9 trillion out of the operating finances of companies and
Nuclear Unicorn
Feb 2016
#52
Therein lies the answer to why Bernie's campaign doesn't resonate with blacks
WhaTHellsgoingonhere
Feb 2016
#9
Black voters have specific needs and issues. My policies "raise all boats" doesn't speak to them
WhaTHellsgoingonhere
Feb 2016
#18
gee, thank goodness the aa vote is going to someone who will really help them
restorefreedom
Feb 2016
#21
Where I used to work the match was up to 6% paid every payday. Nice because it compounded
LiberalArkie
Feb 2016
#34
Which is ever so helpful to people who don't have anything left over after expenses
eridani
Feb 2016
#58
It's a pretty miniscule population that literally can't afford to put *anything* in
Recursion
Feb 2016
#53
Many of us who are unemployed now because of "guest worker" contractization of our work force
cascadiance
Feb 2016
#76
God no. They're a horrible idea. Look at how badly they screwed workers over.
Recursion
Feb 2016
#63