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Posted: 8/17/2018 6:48:42 PM EDT
[#1]
There are 800,000 bankruptcies every year, so seniors making 12% of that is 100,000. Out of 47.8 million seniors means .2% of all seniors get bankruptcies annually. Only a fraction of which are 401(k) related.
Yet 30% of pensions are underfunded, and this is some huge indictment on 401(k)s. Solid fucking logic right there. 
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Posted: 8/17/2018 6:49:30 PM EDT
[#2]
Quote HistoryQuoted:
The creator of the 401K regrets it and says it a shit system. Quote HistoryQuoted:
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The 401(k) system required decent monetary policy and laws to protect pensions from the likes of Carl Icahn. We had neither. Thats not what the majority of people need. Income is what people should be looking for. Returns on investments, unless you're lucky, are pathetic usually. If you create income, begin secured investments, then a little more risky stuff, and a comprehensive savings plan you will be financially free. This has been preached for generations. |
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Posted: 8/17/2018 6:49:43 PM EDT
[#3]
Quote HistoryQuoted: That's a husband and wife together bringing in less than $125K... total...for the year... Wow! That's sad.  Depends on where you live and your spending habits. That's a good standard of living in most places. |
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Posted: 8/17/2018 6:51:55 PM EDT
[#4]
Quote HistoryQuoted:
According to GD if you do not not have 10 million put away when you retire you will be living under a bridge and eating cat/dog food.  
 Amazing PVC Pipe Plastic Bottle Fish Trap |
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Posted: 8/17/2018 6:54:22 PM EDT
[#5]
Quote HistoryQuoted: Bullshit. There is no competition that the employee can choose, just the employer. My 401k is a joke in terms of options. You can leave your employer and work elsewhere You can open an individual IRA (Roth or regular) and contribute $5500 (twice if married) a year. You can open that IRA anywhere you want (Vanguard) and invest in anything you want. |
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Posted: 8/17/2018 6:55:05 PM EDT
[#6]
Real estate is a decent alternative, start off buying some rental properties and build a portfolio. At first the rental income goes to paying off the mortgages but after that's paid it's all income.
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Posted: 8/17/2018 6:57:25 PM EDT
[#7]
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What a shocker Bonehead! How did you think the Capitalist system works! It depends on cash cows to keep money coming in/working, endowing the rich with more wealth. On the way, one can buy into the 401k Pyramid Scheme to help the Robber Barons along the way. When you can't work anymore and have to retire, you get the pittance they allowed you through controlled interest rates/yield, they get the rest. You can Suck their ass, and struggle on your way to the end, rest assured, paying taxes on the way. God Bless the US/Capitalism! You should've learned this shit in 10th grade Man. DUH! 
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Posted: 8/17/2018 7:03:26 PM EDT
[#8]
Quote HistoryQuoted:
Well yeah, but the OP specifically said 401(k)'s are bad. I was wondering what alternative he proposes. Maybe because OP (and 90% of all other people) believe that a 401(k) or ___________ (fill in the name of your favorite account here), are magical money making machines, and that's not the case. They "invest" (lol) into their 401(k) the same way people "invest" in Social Security, that is to say, they "contribute", with nary a thought applied to it after that. And, as has been pointed out already in this thread, one needs to be far more proactive than that in their retirement planning. If someone is afraid to start learning (or simply doesn't want to) they should go meet with a professional. Reaching a financial goal (ie. retirement) never happens by accident, regardless of what type of account you throw money at. (Pension, ROTH, 401(k), etc.) That was my only point. 
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Posted: 8/17/2018 7:03:36 PM EDT
[#9]
Quote HistoryQuoted:
I rest my case Quote HistoryQuoted:
Quoted:
Quoted: When's that happened? Seen pension holders kick their feet up while 401kers fret their losses Pensions can go bust. Benefits reduced. |
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Posted: 8/17/2018 7:04:35 PM EDT
[#10]
Encourage everyone to get fat and stop paying for obesity related medical treatment.
we could be in pretty good shape (pardon teh expression) in less than a generation. just sayin' |
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Posted: 8/17/2018 7:07:27 PM EDT
[#11]
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Sorry your employer lost. 401Ks and other benefits are part of the overall employment package. If your employer has a sucky 401K, that means you have an employer who doesn't GAF about its employees. You are free to find a job with better benefits. If your employer had lousy health care insurance, would that mean all employers have lousy health care insurance? Answer: No, it would not. You also have a universe of non-tax-advantaged investment products to choose from. Many of us have to use those anyway because the contribution limits are so low for 401K/457B/Roth, etc. Join the club, bub. 
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Posted: 8/17/2018 7:08:05 PM EDT
[#12]
Quote HistoryQuoted:
Yes we have a few who took it at that age . Quote HistoryQuoted:
Quoted: Age 50 with 30 years of service was a quite common pension but at a reduced maturity rate. we have a few who took it at that age . |
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Posted: 8/17/2018 7:15:26 PM EDT
[#13]
Quote HistoryQuoted:
Lol, no you're not. Lying is almost as bad as patronizing! Dont do that, you're a FAR better person than a patronizing doosh or a lying fuck. Tell me what? Your opinion? I made a statement: pensions are better AND better guaranteed vs 401ks......FACT! Ask forbes or WSJ. ---- drops mic ----- ETA: tell me your experiences with a pension vs a 401k? Quote HistoryQuoted:
Quoted:
I'm sorry if my reasoning offended you. I don't know what else to tell you. ---- drops mic ----- ETA: tell me your experiences with a pension vs a 401k? That's not what I came here to do so I'm genuinely sorry that I upset you. |
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Posted: 8/17/2018 7:18:17 PM EDT
[#14]
Quote HistoryQuoted: It is shockingly easy to retire wealthy if you simply learn how to delay gratification. Americans are shockingly bad at delayed gratification, and our education system reinforces it. |
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Posted: 8/17/2018 7:20:44 PM EDT
[#15]
Quote HistoryQuoted:
Real estate is a decent alternative, start off buying some rental properties and build a portfolio. At first the rental income goes to paying off the mortgages but after that's paid it's all income. |
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Posted: 8/17/2018 7:23:23 PM EDT
[#16]
Quote HistoryQuoted: I doubt you will find many companies still offering an amazing array of benefits outside of the public sector. |
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Posted: 8/17/2018 7:24:37 PM EDT
[#17]
Quote HistoryQuoted:
I responded to your post that your 401K was terrible. Most 401Ks are quite adequate, with adequate choices. Just like most guns are adequate. It's the users who are often lacking in skill to operate them properly. Quote HistoryQuoted:
Quoted: I doubt you will find many companies still offering an amazing array of benefits outside of the public sector. |
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Posted: 8/17/2018 7:25:10 PM EDT
[#18]
Quote HistoryQuoted:
Now you've gone and done it. I've been informed right here in GD that the success I've had with real estate is a pure figment. It doesn't exist. It's a rumor, at best. While it may not be what I use, I think real estate can be a good option if you're willing to put in your due diligence and work. |
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Posted: 8/17/2018 7:26:14 PM EDT
[#19]
Quote HistoryQuoted:
Gotcha. Maybe because OP (and 90% of all other people) believe that a 401(k) or ___________ (fill in the name of your favorite account here), are magical money making machines, and that's not the case. They "invest" (lol) into their 401(k) the same way people "invest" in Social Security, that is to say, they "contribute", with nary a thought applied to it after that. And, as has been pointed out already in this thread, one needs to be far more proactive than that in their retirement planning. If someone is afraid to start learning (or simply doesn't want to) they should go meet with a professional. Reaching a financial goal (ie. retirement) never happens by accident, regardless of what type of account you throw money at. (Pension, ROTH, 401(k), etc.) That was my only point. Quote HistoryQuoted:
Quoted:
Well yeah, but the OP specifically said 401(k)'s are bad. I was wondering what alternative he proposes. Maybe because OP (and 90% of all other people) believe that a 401(k) or ___________ (fill in the name of your favorite account here), are magical money making machines, and that's not the case. They "invest" (lol) into their 401(k) the same way people "invest" in Social Security, that is to say, they "contribute", with nary a thought applied to it after that. And, as has been pointed out already in this thread, one needs to be far more proactive than that in their retirement planning. If someone is afraid to start learning (or simply doesn't want to) they should go meet with a professional. Reaching a financial goal (ie. retirement) never happens by accident, regardless of what type of account you throw money at. (Pension, ROTH, 401(k), etc.) That was my only point. I have never taken for granted anything anybody told me about my investment dollars. I started out dumb as a rock about mutual funds and deferred compensation plans. I had to learn. Some people have to learn the hard way. That sucks. But it pays to check facts that actually concern you. I understand that there are companies out there that may be less above board about their employee investment practices. But each person has to do their part to check on where their money goes. This is not something that should be legislated out of existence. Not that you are saying that, but just saying. |
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Posted: 8/17/2018 7:26:36 PM EDT
[#20]
Yeah. 401ks are so shitty Mrs Rabinowitz had saved up nearly 900k by age 60.
Let’s see. She sacrificed. Sent two sons through college. Paid every bill she ever ran up. But then she has been working steadily since 1979....close to 40 years. But can’t retire as health insurance would drain her dry in 5 years or so. |
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Posted: 8/17/2018 7:27:12 PM EDT
[#21]
Quote HistoryQuoted:
"The Millionaire Next Door". Read it. Live it. Love it. Quote HistoryQuoted:
Quoted: It is shockingly easy to retire wealthy if you simply learn how to delay gratification. Americans are shockingly bad at delayed gratification, and our education system reinforces it.
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Posted: 8/17/2018 7:29:37 PM EDT
[#22]
Quote HistoryQuoted:
What a shocker Bonehead! How did you think the Capitalist system works! It depends on cash cows to keep money coming in/working, endowing the rich with more wealth. On the way, one can buy into the 401k Pyramid Scheme to help the Robber Barons along the way. When you can't work anymore and have to retire, you get the pittance they allowed you through controlled interest rates/yield, they get the rest. You can Suck their ass, and struggle on your way to the end, rest assured, paying taxes on the way. God Bless the US/Capitalism! You should've learned this shit in 10th grade Man. DUH! 
Meanwhile.... In the real world. I deferred comp into a 401 when I was in the 28% bracket. Last month I drew out the first $$ out of the 401, now IRA rollover. I am now, by choice in the 12.5% bracket. I am not complaining about having too much money in my retirement. Lastly, with regard to the misleading article, is BK rules changed significantly during Klinton 's admin making it easier to fuck over creditors. |
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Posted: 8/17/2018 7:34:15 PM EDT
[#23]
Quote HistoryQuoted: I've already got the J.C. Penny suit, Seiko watch, Ford F150, and drink Popov instead of Grey Goose. Still waiting to get the money. Let me tell ya, it ain't no fun waiting 'round to be a millionaire. |
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Posted: 8/17/2018 7:35:35 PM EDT
[#24]
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I think most of us have argued that real estate greatly benefits from the easily available leverage and isn't nearly as hot without the leverage. While it may not be what I use, I think real estate can be a good option if you're willing to put in your due diligence and work. |
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Posted: 8/17/2018 7:37:06 PM EDT
[#25]
Quote HistoryQuoted:
Well OK, but the leverage exists so why not use it?
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Posted: 8/17/2018 7:37:24 PM EDT
[#26]
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Where are they gonna live at when the follow this plan? Cardboard box. Quote HistoryQuoted:
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There used to be a book called "How To Die Dead Broke" that encouraged racking up as much debt as possible, hiding the money/stuff, then filing bankruptcy. |
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Posted: 8/17/2018 7:38:07 PM EDT
[#27]
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I get what you're saying but H honestly its not that stupid in all cases. A colleague of mine is about 58 and has invested well so he was sitting on about 1.6 in investable assets. Then he sold his last house to move closer to the grandkids and took on a mortgage, for him he believes (and has demonstrated) that he can do better with the lump sum payout and carrying the mortgage than living in a paid off house. Two million easily grows by 80k each year and with cheap mortgages below 4% it makes a lot of sense not to pay off your primary house if you have the assets. Quote HistoryQuoted:
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Medical expenses are for sure a reason for lots but also when I hear of 65 years olds with mortgages, I think wow that's dumb. I bought my first home at 21. I have peers whose kids still rent, their first home (unless they have to fight a sibling over it) will be the one left behind by their parents.  honestly its not that stupid in all cases. A colleague of mine is about 58 and has invested well so he was sitting on about 1.6 in investable assets. Then he sold his last house to move closer to the grandkids and took on a mortgage, for him he believes (and has demonstrated) that he can do better with the lump sum payout and carrying the mortgage than living in a paid off house. Two million easily grows by 80k each year and with cheap mortgages below 4% it makes a lot of sense not to pay off your primary house if you have the assets. |
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Posted: 8/17/2018 7:45:02 PM EDT
[#28]
Quote HistoryQuoted:
Because I'm wary of the risk. |
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Posted: 8/17/2018 7:49:42 PM EDT
[#29]
Quote HistoryQuoted:
my dad always told me you cant retire if you still have a mortgage I retired at 46 and have a mortgage. I have a side gig ( 20-25hrs a week) but that's because I like to spend $800-1000 a month on guns and ammo 
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Posted: 8/17/2018 7:54:28 PM EDT
[#30]
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Lol I retired at 46 and have a mortgage. I have a side gig ( 20-25hrs a week) but that's because I like to spend $800-1000k a month on guns and ammo Quote HistoryQuoted:
Quoted:
my dad always told me you cant retire if you still have a mortgage I retired at 46 and have a mortgage. I have a side gig ( 20-25hrs a week) but that's because I like to spend $800-1000k a month on guns and ammo |
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Posted: 8/17/2018 7:55:46 PM EDT
[#31]
Quote HistoryQuoted:
Lol I retired at 46 and have a mortgage. I have a side gig ( 20-25hrs a week) but that's because I like to spend $800-1000k a month on guns and ammo
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Posted: 8/17/2018 8:07:48 PM EDT
[#32]
what side gig for a retired infantryman pays 1 million a month is what I want to know.
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Posted: 8/17/2018 8:10:16 PM EDT
[#33]
A 401k is only one leg of your retirement tripod, the other two being SS and taxable savings accts
Never was meant to provide all of your retirement money |
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Posted: 8/17/2018 8:10:23 PM EDT
[#34]
Quote HistoryQuoted:
That, is wildly optimistic. Explain how 1.5M is going to generate 100K a year. I honestly want to know. From what I can see, it will take two or three times that amount. Quote HistoryQuoted:
Quoted:
Quoted: Unless your 401k is in a stable value fund, you aren’t seeing compound interest. Returns on stocks are not interest. Risk pays. As for compound interest, tell that to all the folks invested during ZIRP. Treasury yields didn’t even beat inflation. I don't have anything in treasury yields. Mainly S&P 500 index funds, target retirement, international funds. My 5 year return is 13% right now. I'm happy with my 401K. By retirement age I should have between $2-6 million depending my returns. Hell, at $1.5M you could have $100K a year quite easily living off interest or dividends. From what I can see, it will take two or three times that amount. |
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Posted: 8/17/2018 8:19:30 PM EDT
[#35]
I’m planning on a bank heist to fund my retirement.
That and bankruptcy. |
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Posted: 8/17/2018 8:30:58 PM EDT
[#36]
Quote HistoryQuoted:
So, the risk of someone paying you rent every month on a hard asset is too risky? The risk is that you made a mistake. You get the renter from hell at the same time that the market drops on your leveraged house. Your house is worth half your note, the renter trashed it and you haven't been paid in six months because your stuck in court fighting for the eviction. Not the most likely event but having the ~90% left on the loan means you have to be able to cash flow it or you may be bankrupt. |
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Posted: 8/17/2018 8:42:29 PM EDT
[#37]
Quote HistoryQuoted:
Lol. The risk is that you made a mistake. You get the renter from hell at the same time that the market drops on your leveraged house. Your house is worth half your note, the renter trashed it and you haven't been paid in six months because your stuck in court fighting for the eviction. Not the most likely event but having the ~90% left on the loan means you have to be able to cash flow it or you may be bankrupt. |
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Posted: 8/17/2018 8:47:12 PM EDT
[#38]
the ARFCOM dichotomy:
folks belong to a website which represents individual rights and the continued ability to protect oneself, but these same folks want the government and/or a corporation to coddle them financially for their entire lifetime. lol. get off my lawn, socialists. |
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Posted: 8/17/2018 8:49:05 PM EDT
[#39]
Quote HistoryQuoted:
the ARFCOM dichotomy: folks belong to a website which represents individual rights and the continued ability to protect oneself, but these same folks want the government and/or a corporation to coddle them financially for their entire lifetime. lol. get off my lawn, socialists. 
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Posted: 8/17/2018 8:50:58 PM EDT
[#40]
Quote HistoryQuoted:
There are 800,000 bankruptcies every year, so seniors making 12% of that is 100,000. Out of 47.8 million seniors means .2% of all seniors get bankruptcies annually. Only a fraction of which are 401(k) related. Yet 30% of pensions are underfunded, and this is some huge indictment on 401(k)s. Solid fucking logic right there. |
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Posted: 8/17/2018 8:52:44 PM EDT
[#41]
Does this mean it is not okay to save for retirement by saving your retirement income as you get it?
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Posted: 8/17/2018 8:55:31 PM EDT
[#42]
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Regardless of their 'generational affiliation', it takes a sick fuckin' monk to wish ill on the elderly. You sound like a spoiled, pissy little snot nosed jacknape - while you bask in the positive elements of their legacy. On January 2, 1951 the Dow Jones Industrial Index was at 239.92 points. Today, as a result of the labors of those profigarous 'Boomers' you hate so much it's at 26,669 points. Those bastards left you a lot of stuff other than a huge debt. You won't ever see an iron lung, get tetanus, or suffer from malnutrition. You can now expect to be one of those elderly cocksuckers you look down your nose at about 12 years longer than you could have in 1950. That said, I hope you can live to a ripe old age so the next generation of vapid little self-aggrandizing pricks can wish you ill in your old age. How old are your parents? Go throw some white monster energy drinks on the grill and remind us all of what real music is. Your generation is the one that pisses out degenerate ideas like equality for savages and tolerance. You grew up in the shadow of a World War where the US took the side of the fucking communists. Your father came home from the war and raised you in prosperity and comfort and you became spoiled and profligate. Your generation inherited a rock star economy and drove it and the nuclear family into the ground. Look at your lot now. Fat. Diabetic. You are 3/4s of those with HepC. You take $3 for every dollar you paid into SS/Medicare. Yours is a worthless generation and the world will be better off when you’re rotting in the ground. Thank God Almighty gen Z sees through your tolerance and collectivist hand-holding bullshit. They see how you failed the millennials with this participation trophy self esteem crap. Stop taking your diabetes medicine and get along now. |
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Posted: 8/17/2018 8:56:50 PM EDT
[#43]
Quote HistoryQuoted:
pensions are better AND better guaranteed vs 401ks......FACT! |
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Posted: 8/17/2018 8:59:18 PM EDT
[#44]
Quote HistoryQuoted: You seem upset. Not enough testosterone, grandpa? Go throw some white monster energy drinks on the grill and remind us all of what real music is. Your generation is the one that pisses out degenerate ideas like equality for savages and tolerance. You grew up in the shadow of a World War where the US took the side of the fucking communists. Your father came home from the war and raised you in prosperity and comfort and you became spoiled and profligate. Your generation inherited a rock star economy and drove it and the nuclear family into the ground. Look at your lot now. Fat. Diabetic. You are 3/4s of those with HepC. You take $3 for every dollar you paid into SS/Medicare. Yours is a worthless generation and the world will be better off when you're rotting in the ground. Thank God Almighty gen Z sees through your tolerance and collectivist hand-holding bullshit. They see how you failed the millennials with this participation trophy self esteem crap. Stop taking your diabetes medicine and get along now. Now what is your other screen name? -. --- .-- / --. --- / .... ..- --. / .- / ..-. .- - / -- .- -. ... / .-. --- --- - .-.-.- |
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Posted: 8/17/2018 9:05:31 PM EDT
[#45]
Quote HistoryQuoted: You seem upset. Not enough testosterone, grandpa? Go throw some white monster energy drinks on the grill and remind us all of what real music is. Your generation is the one that pisses out degenerate ideas like equality for savages and tolerance. You grew up in the shadow of a World War where the US took the side of the fucking communists. Your father came home from the war and raised you in prosperity and comfort and you became spoiled and profligate. Your generation inherited a rock star economy and drove it and the nuclear family into the ground. Look at your lot now. Fat. Diabetic. You are 3/4s of those with HepC. You take $3 for every dollar you paid into SS/Medicare. Yours is a worthless generation and the world will be better off when you're rotting in the ground. Thank God Almighty gen Z sees through your tolerance and collectivist hand-holding bullshit. They see how you failed the millennials with this participation trophy self esteem crap. Stop taking your diabetes medicine and get along now. <--- Prospering millennial. |
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Posted: 8/17/2018 9:19:52 PM EDT
[#46]
Quote HistoryQuoted:
I am in south western ILL-annoyed... near St. Louis. I guess what chaps my ass is the raping I am getting from Uncle Sam. It was one of these GD investing/retirement threads back in May that got me to bump up my 401K, so I will be maxing it out this year (for a total of $18,500 or thereabouts). Payday was last Friday, but I haven't entered any numbers yet into my hand written ledger. What motivated to me to increase the amount in my 401K was somebody posted this back in May: https://www.AR15.Com/media/mediaFiles/369122/Screenshot_20180217-120620-643320.JPG I am 46. Just been at this job for 4 years and some change. I am hourly...at the halfway point of this year I was already at 1,400 hours worked. So I got a lot of overtime. Your typical 9 to 5 cubicle dweller gets 2,080 hours per year. So combine the above Soical (In)Security pic with my anecdote about the 59 and a half year old safety being able to tell the boss "FUCK.... YOU!" has me paying a lot more attention to how my 401K is doing. Quote HistoryQuoted:
Quoted: What planet do you guys live on? The average American gross yearly income is under $70k per year. How well you live on that is of course determined by where you live. Obviously in some places that’s bum money. In most of flyover country that earns a decent living. I know we like to joke about everyone in GD being wealthy beyond imagination but at least where I live $125k per year can buy you a pretty good life. I guess what chaps my ass is the raping I am getting from Uncle Sam. It was one of these GD investing/retirement threads back in May that got me to bump up my 401K, so I will be maxing it out this year (for a total of $18,500 or thereabouts). Payday was last Friday, but I haven't entered any numbers yet into my hand written ledger. What motivated to me to increase the amount in my 401K was somebody posted this back in May: https://www.AR15.Com/media/mediaFiles/369122/Screenshot_20180217-120620-643320.JPG I am 46. Just been at this job for 4 years and some change. I am hourly...at the halfway point of this year I was already at 1,400 hours worked. So I got a lot of overtime. Your typical 9 to 5 cubicle dweller gets 2,080 hours per year. So combine the above Soical (In)Security pic with my anecdote about the 59 and a half year old safety being able to tell the boss "FUCK.... YOU!" has me paying a lot more attention to how my 401K is doing. |
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Posted: 8/17/2018 9:37:27 PM EDT
[#47]
Quote HistoryQuoted:
Well yeah, but the OP specifically said 401(k)'s are bad. I was wondering what alternative he proposes. Quote HistoryQuoted:
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All of those could be wrappers for all the same exact type of investment assets or completely different investment assets. "Balanced Portfolio" doesn't refer to 401(k), IRA, Roth etc, but to Equities, Bonds, Cash, Marketable Securities, Commodities, Real Estate, Alternatives, etc. The TYPE of account you use just reflects potential tax benefits (or none at all). That's not diversification FWIW. 
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Posted: 8/17/2018 9:38:28 PM EDT
[#48]
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401k Plans ARE shit! Too many fees that people never take the time to figure out. They can cost you BIGTIME! Far too many people put all their eggs in the long term, or the "one day I'll have money" basket. Thats not what the majority of people need. Income is what people should be looking for. Returns on investments, unless you're lucky, are pathetic usually. If you create income, begin secured investments, then a little more risky stuff, and a comprehensive savings plan you will be financially free. This has been preached for generations. Quote HistoryQuoted:
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The 401(k) system required decent monetary policy and laws to protect pensions from the likes of Carl Icahn. We had neither. Thats not what the majority of people need. Income is what people should be looking for. Returns on investments, unless you're lucky, are pathetic usually. If you create income, begin secured investments, then a little more risky stuff, and a comprehensive savings plan you will be financially free. This has been preached for generations. |
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Posted: 8/17/2018 9:42:09 PM EDT
[#49]
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Yep, when the guy that originally made them says the same thing it is hard to argue differently. Quote HistoryQuoted:
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The 401(k) system required decent monetary policy and laws to protect pensions from the likes of Carl Icahn. We had neither. Thats not what the majority of people need. Income is what people should be looking for. Returns on investments, unless you're lucky, are pathetic usually. If you create income, begin secured investments, then a little more risky stuff, and a comprehensive savings plan you will be financially free. This has been preached for generations. So as far as I'm concerned, those saying that 401K's suck are fucking stupid!!! If you have a 401K program available to you when you are in your twenties and don't take advantage of it - it ISN'T the 401K plan that failed it is your stupid idea of how to save for your retirement!!! |
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Posted: 8/17/2018 9:46:04 PM EDT
[#50]
Quote HistoryQuoted:
All I know is that when I got laid off at age 56, my 401K rolled over into an IRA allowed me to easily retire to a planed age 94 with no other income sources. So as far as I'm concerned, those saying that 401K's suck are fucking stupid!!! |
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