401(k)s Are a Negligible Source of Income for Seniors

[turbinetree]

64. In my response ................................

prior to yours
It was not wise on my part and on many at the time to take anymore of the money from the pay to buy bonds, I know you can get 25 and 50 and 100 dollars bonds, but at that time when your pay has been cut and you lose a some benefits to cover your costs of the employee stock ownership, you are then robbing peter to pay paul.
Employee stock ownership with UAL was geared to the stock and not the bonds, the assets from which the employee groups pilots and mechanics had with wall street.
That money would have to had come out from your paycheck through you separately, which meant another pay cut.
I know the bonds are protected, and I know that is what should have been offered but it was not.
Steven Wolf and his cronies made out like bandits on the sale, wall street had restrictions on those stocks, you could not convert them to bonds, they just wouldn't let us do that -------------they wouldn't, they would have lost money