An increasingly infrequent delve into the creaky mental workings of a cynical old man
I always thought that 401K were intended to artifically boost the value of stocks by diverting massive amounts of money into the market.I have never liked its tax deferred/early withdrawl penalties model. It makes it too inflexible.But the idea that government and or Social Security is any better is the most ludicrous thing I have ever heard. I have lost a modest amount in my retirement investments of which only a small portion is a 401K. I will be losing over 50% of my social security contributions unless I live more than 20 years after retirement. To recoup 100% of my input I would need to live to 115.
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