Wednesday, October 15, 2008

My Sentiments Exactly

http://www.alternet.org/workplace/102775/the_fallacy_of_the_401(k)/

1 comment:

cfloersch said...

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.