Quote:
Originally Posted by John 070
You believe that or just being facetious? You can look up the expense ratios on your 401 funds. My Vanguard and T Rowe are good, Fidelity ok, and PNC awful (my employer's choice).
Yes, I believe it... simply because there is an extremely stong push for retirement plans in this country. There is no other country in this world that puts nearly the emphasis on this subject that the US does. I think the reason is two fold...
1)I think someone is making a lot of money of retirement plans.
2) It is cheaper for a corporation to pay towards your retirement as they get a tax advantage over paying you direct salary.
Those are 2 very strong reasons to fear monger everyone. Like I said, modesty is key.
Imho many Americans are a simple layoff away from everything being gone. We all have friends who experienced that in 2009.
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That is an issue that has nothing to do with retirement... that is an issue with people making way too little and buying much more than they can afford and literally having 0 savings. That to me is just straight idiocy that nothing can help.
As far as 2009... you and I know both very well what happened then... even for retirement plans.
