obgyn65
Thinks s/he gets paid by the post
Interesting article in the NYT : Should the 401k plans be reformed or replaced ?
http://www.nytimes.com/2012/09/12/b...d-or-replaced.html?ref=retirementspecial&_r=0
"JOHN GREENE worked for 30 years at an Oscar Mayer plant in Madison, Wis., deboning hams and loading boxes of hot dogs. His 401(k) plan grew to $60,000, and soon after retiring he began withdrawing $3,600 a year from it, money that allowed him and his wife to take what he called a wondrous two-week trip to Scotland, his ancestral homeland.
The Greenes lost about 70 percent of their 401(k) savings in the market downturn. Some experts wonder if the 401(k) rules need to be revised.
But when the financial markets plunged four years ago, his 401(k) dropped to less than $18,000.
“We lost more than 70 percent,” he complained, even though a highly recommended investment firm was managing his 401(k). “They’re very risky.” "
http://www.nytimes.com/2012/09/12/b...d-or-replaced.html?ref=retirementspecial&_r=0
"JOHN GREENE worked for 30 years at an Oscar Mayer plant in Madison, Wis., deboning hams and loading boxes of hot dogs. His 401(k) plan grew to $60,000, and soon after retiring he began withdrawing $3,600 a year from it, money that allowed him and his wife to take what he called a wondrous two-week trip to Scotland, his ancestral homeland.
The Greenes lost about 70 percent of their 401(k) savings in the market downturn. Some experts wonder if the 401(k) rules need to be revised.
But when the financial markets plunged four years ago, his 401(k) dropped to less than $18,000.
“We lost more than 70 percent,” he complained, even though a highly recommended investment firm was managing his 401(k). “They’re very risky.” "