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Gore1FL

(22,951 posts)

21. I have both. nt

Reply to mike_c (Reply #1)

Fri Nov 3, 2023, 02:20 AM

Nov 2023

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MYTH: 401(k)-style plans are the best retirement plan for workers. [View all] Coventina Nov 2023 OP

I have an excellent defined benefit pension... mike_c Nov 2023 #1

What companies even offer a pension anymore? Calculating Nov 2023 #3

That is the problem TheRealNorth Nov 2023 #4

Defined benefit schemes Aussie105 Nov 2023 #8

And elected government officials ... KPN Nov 2023 #31

most of them come from taxpayers now Skittles Nov 2023 #13

Companies don't, but Building Trades unions, railroad unions and others do. WhiskeyGrinder Nov 2023 #32

I have a defined benefit pension AND an opportunity to pay in to a 401k... brooklynite Nov 2023 #18

I have both. nt Gore1FL Nov 2023 #21

Same here teamsters Union pension Duncanpup Nov 2023 #27

I get a small Teamster's check each month MOMFUDSKI Nov 2023 #29

Oversold. Aussie105 Nov 2023 #2

You wrote: kelly1mm Nov 2023 #11

I paid in to 401K briefly. MOMFUDSKI Nov 2023 #30

I've been told retirement funds are like a three lagged stool Yo_Mama_Been_Loggin Nov 2023 #5

Fourth leg enid602 Nov 2023 #26

I would consider that part of your Savings leg. LiberalFighter Nov 2023 #37

In the past it was defined as... LiberalFighter Nov 2023 #36

The third leg is personal savings. PoindexterOglethorpe Nov 2023 #40

Defined benefit pensions were great if you spent a couple decades or longer working for the same company MichMan Nov 2023 #6

That is a good point TheRealNorth Nov 2023 #10

401(k)s aren't that "portable" either. Hugin Nov 2023 #24

Many unions establish multi-employer defined benefit pensions. Building Trades are the obvious example. WhiskeyGrinder Nov 2023 #38

What's the alternative? BlueIdaho Nov 2023 #7

House, IRA, and one can open a personal investment account. All assume you have the money. Silent Type Nov 2023 #16

I put in the maximum for my Roth and matching and put everything else into a Vanguard Index fund Quixote1818 Nov 2023 #9

They sold 401k as a supplement to your employer provided Emile Nov 2023 #12

This 👆 Yo_Mama_Been_Loggin Nov 2023 #19

This Is What RobinA Nov 2023 #33

The company match really made the difference for us peggysue2 Nov 2023 #42

I've never heard anyone say they are the best Skittles Nov 2023 #14

We aren't going to see many more defined benefits plans. The risk is too great for small businesses. Silent Type Nov 2023 #15

Nothing is better for people who change jobs frequently than Social Security. n/t Hugin Nov 2023 #25

Changing jobs frequently enid602 Nov 2023 #28

Few have changed jobs as frequently as I have... Hugin Nov 2023 #35

+1 Emile Nov 2023 #39

I keep lookin' at mine, and it ain't goin' nowhere. NBachers Nov 2023 #17

Plenty of people have lost their pensions IronLionZion Nov 2023 #20

They are also a joke. Xolodno Nov 2023 #22

I wasn't offered a choice. It was either 401k or nothing. GoodRaisin Nov 2023 #23

The best? NO Johnny2X2X Nov 2023 #34

Pensions can go away. PoindexterOglethorpe Nov 2023 #41