General Discussion
In reply to the discussion: Unemployable At 50 Fate Of Present And Future Workers [View all]dixiegrrrrl
(60,010 posts)I am reading of more and more pensions/retirement funds are being raided, are going broke in the current economy.
Many many retirement funds were invested in the various forms of mortgage and municipal bond debts which are going bust now.
Too many folks do not give much thought about their retirement funds, about who is running them and what they are being invested in.
I was one of those people, for a long time, who had the money taken out of the paycheck, had no idea what the 401-k and cds and etc, were about.
Found out that my money was in AIG and in Lehman.
Fortunately, was able to pull it all out 6 months before the crash.
but I know people who are counting on starting their retirement in a year or less and have no clue where their money is, or how it is doing. They have lost a lot of income from the dot.com crash in 2000 and again in 2008.