03-14-2020, 11:36 AM
(03-14-2020, 09:40 AM)Goalpost Wrote: I kind of think you are overlooking the match part of it. You cant go to a bank with 6 percent of income, not taxed until later if you want. and the bank gives you a match. Also, 401K funds have options. You can invest in company stock, Mutual funds, or bonds. You can just take the income and match and invest in bonds if you want, and feel safer although history shows stocks return better. What you absolutely should not do is invest too much of your savings in your own company stock. If something happens to your company, you could not only lose your job, but if the company goes under you lose your savings too...ie Enron employees.
No I'm all about the match. It was a major factor on my last job search. Still doesn't change the fact my 401k is basically like bringing my money to the casino and risking it all. You can lose it all. Think of the match like a casino comp. Thanks for playing.
When the bottom 50% of people own less than 1% of the wealth and we continue to see machines and automation take low skill low wage and good earning middle class jobs... People working, fighting, and scraping to get by their whole lives to have a decent retirement shouldn't have to worry about having a retirement income that can be wiped out at the drop of a random animal carcass in a distant Chinese market. There has to be more security than that.
