Resignations

[Oerets]

The 401K was never meant to be a standalone retirement plan. Just a supplemental plan for executives. But it didn't take industry long to figure out a way to eliminate and rob employee defined benefit retirement plans.



Barney

[ebacon]

Originally Posted by JJIII

With interest rates like this (http://www.gobankingrates.com/saving...interest-rate/) who is interested in a savings account?

That's my point. Savings is out of the equation anymore.

The zero interest rate is necessary to keep the stock market/401k accounts afloat. It's an unsustainable shell game because the government needs to employ people through stimulus (or porkulous depending on which side one is on) just to get the economic system to appear normal when it's not.

[barbara]

Originally Posted by ebacon

That's my point. Savings is out of the equation anymore.

The zero interest rate is necessary to keep the stock market/401k accounts afloat. It's an unsustainable shell game because the government needs to employ people through stimulus (or porkulous depending on which side one is on) just to get the economic system to appear normal when it's not.

So..... Why not invest your money elsewhere?

[ebacon]

Originally Posted by barbara

So..... Why not invest your money elsewhere?

Such as?

Be careful. Remember that we are talking middle class Americans, not sophisticated investors.

[BlueStreak]

Originally Posted by ebacon

Such as?

Be careful. Remember that we are talking middle class Americans, not sophisticated investors.

And, therein lies the Achilles heel of the 401k plan. I love mine, but I know a lot of folks who don't even bother-----Because they either don't understand how it works, or they cannot afford to invest. It's great how we tell people the only way they'll ever be able to retire is if they save up for it.........then cripple their ability to do so through outsourcing jobs and wage suppression.

Oh, by the way, all of those "so(c)ialist" old age entitlements gotta go too, you useless old farts. I hear there's pretty good protection from rain under the freeway overpasses.

Regards,
Dave

[ebacon]

Originally Posted by BlueStreak

. . . I hear there's pretty good protection from rain under the freeway overpasses.

Regards,
Dave

Open air living and close to transportation!

[barbara]

Originally Posted by ebacon

Such as?

Be careful. Remember that we are talking middle class Americans, not sophisticated investors.

My husband convinced me to invest part of our nest egg in property.

I guess that could be risky too.... But we did our homework and I think we made some good decisions for our situation.

[Anceddenink]

I like donkey butts.

[BlueStreak]

Piss off, SPAMMER!!!!

DON! There's a spammer in the house!!!!!

Regards,
Dave

[Tom Joad]

Originally Posted by BlueStreak

Piss off, SPAMMER!!!!

DON! There's a spammer in the house!!!!!

Regards,
Dave

How the Hell did a spammer get through?

I mean I really had to run the damned Gauntlet before they would let me post here.

http://www.youtube.com/watch?v=nsuPW_69uYc