Pent Up Demand and The Upcoming Roaring '20s

[Oerets]

The fact is for more then a few the 401K when enacted was meant as a supplement for a employer backed retirement. Never a standalone, what it has become for the majority of workers now.
Then add the stagnant wages and rising costs the 401K is used as a emergency source of funds.

We were lucky to both have a old employer supplied retirement along with 401K. Never need to "borrow" from the 401K and fully funded the accounts. Thank you organized labor once again!

[Dondilion]

Originally Posted by Oerets

The fact is for more then a few the 401K when enacted was meant as a supplement for a employer backed retirement. Never a standalone, what it has become for the majority of workers now.
Then add the stagnant wages and rising costs the 401K is used as a emergency source of funds.

Essentially correct!

The basic idea of a pension was to save workers from themselves and the vagaries of an economy.

[Dondilion]

Biden - Reversing a decade of underinvestment in America - Reasserting the leading role of the state in economics.

https://theguardian.com/commentisfre...spending-plans

[bobabode]

Originally Posted by Dondilion

Biden - Reversing a decade of underinvestment in America - Reasserting the leading role of the state in economics.

https://theguardian.com/commentisfre...spending-plans

A good read. Thanks Don.