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401ks aren’t all bad. My wife and I did very well investing in our 401ks. However I monitored them closely, particularly as we got close to retirement. The market has done extraordinarily well since the Great Recession. Plus our employers matched our 6% contribution with 3%.You can do nothing. That is the problem with 401ks as a replacement for pensions.
Thank God I worked 26 years for a company that had old fashioned - actual pension. Not the fucked up pensions after Greenspan and others, including Republicans, removed regulations allowing companies to rob their own pension funds.
Old fashioned pensions were the best retirment vehicles.
1) They cost you not one penny. It is part of your compensation as much as wages.
2) The money was guaranteed to never fall below 80% funded. If the company invested part of it poorly, and the fund goes below 80% - the company has to use their own money to replenish the short fall.
This is why 401ks were invented by the ruling class.
Oligarchy 1
Everyone else 0
No wonder it's called flopper.
Like audio cassettes of the 60's, VHS tapes of the 70's, and the RCA Video disk of the 90's, pension plans were great but their time has passed. In 1980, 80% of all retirement plans were fixed benefit plans, pension plan.You can do nothing. That is the problem with 401ks as a replacement for pensions.
Thank God I worked 26 years for a company that had old fashioned - actual pension. Not the fucked up pensions after Greenspan and others, including Republicans, removed regulations allowing companies to rob their own pension funds.
Old fashioned pensions were the best retirment vehicles.
1) They cost you not one penny. It is part of your compensation as much as wages.
2) The money was guaranteed to never fall below 80% funded. If the company invested part of it poorly, and the fund goes below 80% - the company has to use their own money to replenish the short fall.
This is why 401ks were invented by the ruling class.
Oligarchy 1
Everyone else 0
That does not explain why the S&P 500 since 1945 has averaged an annual gain of 11.2% during years when Democrats controlled the White House well ahead of the 6.9% average gain under Republicans.”Fake data due to the Great Depression. Remove Hoover from the data set and things look very different.
The data in the links support my statements. You have no rebuttal just insults and unsupported statements.Links don't prove anything, ya filthy liar. You jibber and babble like every stinking leftist here.
You have lost nothing until you sell out.I have lost 27 grand this year
MY BROTHER HAS LOST $ 525,000
27 g is nothingYou have lost nothing until you sell out.
401Ks are a great way to save for retirement, particularly if you start young and stay invested. They are like an IRA in that you still have investment choices to make but differ in several important ways:401ks aren’t all bad. My wife and I did very well investing in our 401ks. However I monitored them closely, particularly as we got close to retirement. The market has done extraordinarily well since the Great Recession. Plus our employers matched our 6% contribution with 3%.
We contributed the maximum in our finally working years. Now I’m glad we did.
We got out of the market a year ago fearing a big drawdown was coming. Glad I did.
As I said, you lost nothing until you sell. If you haven't sold, you have a paper loss and that paper lost may turn into a paper profit if you give it time.27 g is nothing
We are already in a recession and it’s going to get much worseAs I said, you lost nothing until you sell. If you haven't sold, you have a paper loss and that paper lost may turn into a paper profit if you give it time.
This year so far, I have a $350,000 paper lost which I am confident it will turn into a substantial profit in a few years. During that time I will continuing to buy the market down and buy it up.
Sometimes you are damned if you do and damned if you don’t
Right now, there is no real safe investment that you will make money on
There is an argument to put your money into a down market assuming it will eventually go back up. Buy while it is cheap.
I plan to just ride it out
No, the definition of recession is 2 consecutive quarters of negative GDP growth. Last quarter GDP increased 6.5% so we will need to see negative growth in the second quarter and the third quarter ending Aug 30. So we can not offical be in a recession until Sept.We are already in a recession and it’s going to get much worse
No matter how you look at it.... corporations won, employees lost.Like audio cassettes of the 60's, VHS tapes of the 70's, and the RCA Video disk of the 90's, pension plans were great but their time has passed. In 1980, 80% of all retirement plans were fixed benefit plans, pension plan.
Pension plans had defined benefits based on salary and years of service. You paid nothing for the plans and they were not part of gross pay so you didn't pay tax on them. Typically, you would be vested in the plan after 10 or 15 years years service which meant when you reached retirement age you would start receiving a check. That check at 25 or 30 yrs of service would likely be at least half you paycheck and many plans had inflation supplements build in. The bottom line was after you added in social security to your pension, you had a very livable retirement and if you were upper management adding your stock options, you might be making more money retiring than working. Although these plans were good for employees who stayed to retirement, they were a huge liability for growing companies with large work forces. And those who changed jobs frequently, they had no retirement except social security.
Today only 4% of private businesses rely of pension plans for retirement, down from 80% in 1980? There are a number of reason for the death of pension plans in private business but the overriding cause was the structural change in employment.
In the 1970's a number of studies revealed, that a large percent of senior employees who got the highest wages were less productive than new hires at significantly less pay. In the 80's, programs to retain employees to retirement were examined. Programs such as pension plans were changed to tax sheltered plans. This took a huge liability off the company and put it on the shoulders of employees. Since these plans were portable, employees could change jobs without loosing all their benefits. Other programs designed to keep employees such paid college education were cut back, and perks such high travel budgets, yearly conferences for senior employees, automatic yearly raises that simply rewarded years on the job were replaced by incentive raises and bonuses. Changes in healthcare laws made healthcare insurance more portable. Thus the barriers to changing job was disappearing.
The end result was an average worker today changes jobs ever 4.3 years which is almost half of what it was in 1980. The pension plans of the 20th century simply would not work today due to rapid job turnover, and reliance on contract and temp workers. Since pension plans do not transfer, most of the working public would have no retirement plan today.
Therein lies the problem. Americans are terrible at finance. So, allowing them the flexibility of 401ks versus defined benefit pensions is a great disservice to many Americans.No matter how you look at it.... corporations won, employees lost.
I remember when 401ks first come out.
Many, if not most, companies matched 100% of employee contribution... plus you could borrow from it - yay!!
Within 10 years, virtually no companies matched above 50%.... many 25%
Today the average is 3% - 5%.
Corporations got out of having to contribute to retirement and all the burden went on the employee.
But of course the borrowing is a problem. According to a study at least 1 out of three 401k plans currently are borrowed against. Just under 60% of all plans have had loans taken out of them at least once.
And then of course there are literally 100,000s of accounts that are basically abandoned with small amounts in them.
Americans are categorically horrendous in fiscal responsibility.
You're not lying about losing a third or more during the 2008 great recession.....Mine lost a third of its value under black jughead and almost to the day Trump was elected it turned around. Every stinking vile leftist said I was lying of course.
That describes the majority of Americans.Therein lies the problem. Americans are terrible at finance. So, allowing them the flexibility of 401ks versus defined benefit pensions is a great disservice to many Americans.
For example…A coworker told me she wasn’t in the 401k plan. I was shocked. We both had over a decade with the company and were high earners. She essentially had turned down a rise from our employer all those years, as the employer matched our contribution up to 3%. She had little saved for retirement and she was in her 50s and single.
you haven't lost any money if you do not sell the assets in your portfolio at a loss.So, over the last year, I have lost 13K bucks. I lost 1K since last Monday.
I have stopped putting money into it.
I tried to withdrawl all i could so i could put it in something safe, but of course, the govt tells you to fuck off.
I tried to get a hardship and just save what I could, and they want receipts on home repairs.
Now, im just sitting here watching part of my retirement whither down to nothing.
WTF can i do? Am I missing something? Is there a way I can get all my money out of the market?
Am i just freaking out for no reason?
Depends on his age.you haven't lost any money if you do not sell the assets in your portfolio at a loss.
This is basic investing knowledge.
