General Discussion

liberal_at_heart

(12,081 posts)

19. I agree. 401(k)s are fine for those who can afford to contribute to them and who also have

Mon Oct 19, 2015, 03:00 PM

Oct 2015

other retirement accounts such as a pension. The problem is the majority of Americans cannot afford to contribute to them in the current economic environment. Maybe if we can get wages up and pay for college the way we pay for K-12 education more people will be able to afford to contribute to them. We also need strong pension plans. We need to be fighting for all of it. We need pensions. We need tax supported college education. We need higher wages, and yes if someone can afford to pay into a 401(k) then good for them go ahead and pay into a 401(k).

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Pensions are a negligible source of income for the younger generation [View all] GummyBearz Oct 2015 OP

My now 26 year old Go Vols Oct 2015 #1

When he is 66 GummyBearz Oct 2015 #2

when markets crash so does your 401 saturnsring Oct 2015 #3

Yea GummyBearz Oct 2015 #6

When he's 52 Go Vols Oct 2015 #5

My husband and I haven't contributed to our 401(k) in 4 years but I guess that is our fault right? liberal_at_heart Oct 2015 #4

My Take on 401K Is. . . ProfessorGAC Oct 2015 #8

I agree. 401(k)s are fine for those who can afford to contribute to them and who also have liberal_at_heart Oct 2015 #19

pretty much Johonny Oct 2015 #22

I'm the younger generation GummyBearz Oct 2015 #9

Well I'm sure the world is just fine and dandy as long as you got yours. liberal_at_heart Oct 2015 #18

Yes GummyBearz Oct 2015 #20

My younger Union brothers and sisters are vested into a thriving Pension and Health Plan... Bluenorthwest Oct 2015 #7

And I am vested into a pension that is scaling back GummyBearz Oct 2015 #10

They will, without a doubt. Sorry to disappoint. Nothing stopping a person with a pension from Bluenorthwest Oct 2015 #12

+1 Go Vols Oct 2015 #13

I hope social security still exists GummyBearz Oct 2015 #14

My uncle's union pension just... meaculpa2011 Oct 2015 #11

Yes, this is the thing GummyBearz Oct 2015 #16

Many studies have shown people aren't saving daredtowork Oct 2015 #15

Preaching to the choir GummyBearz Oct 2015 #17

401ks aren't necessarily a bad thing. Massacure Oct 2015 #21

Agreed GummyBearz Oct 2015 #23