General Discussion

whatthehey

(3,660 posts)

30. Whatevs. Tata.

Tue Feb 23, 2016, 10:34 AM

Feb 2016

If people choose not to take free money, blaming people encouraging them to do so and telling them how won't really help the workers now will it?

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White workers have nearly five times as much wealth in retirement accounts as black workers [View all] eridani Feb 2016 OP

I'd be interested to see the spread in those retirement accounts within the white population. Erich Bloodaxe BSN Feb 2016 #1

What's five times zero? hobbit709 Feb 2016 #2

The switch to 401(k)s hurts everyone, but black people still take the brunt of it n/t eridani Feb 2016 #3

How does people saving their own money hurt others? Nuclear Unicorn Feb 2016 #5

Not having a defined benefits pension hurts people who don't make enough to save n/t eridani Feb 2016 #6

Many jobs do not offer 401(k)s. It's an incentive offered by employers to attract workers. Nuclear Unicorn Feb 2016 #10

Many jobs don't offer defined benefit pensions either eridani Feb 2016 #14

Okay, but that's not an unfairness issue. That's employers not being able to offer a benefit. Nuclear Unicorn Feb 2016 #15

By choosing shareholders over employees n/t eridani Feb 2016 #17

Not to draw too fine a point but 401(k) accounts are investments, making employees shareholders. Nuclear Unicorn Feb 2016 #25

And defined pension plans are massive collective investments making the Plan giant shareholders Bluenorthwest Feb 2016 #32

Yeah, right. The 1% own most shares eridani Feb 2016 #36

There's over $18 trillion in retirement accounts, only $5 trillion of which are in IRAs Nuclear Unicorn Feb 2016 #37

You mean the people who have less than $5000 in savings will have hurt feefees? eridani Feb 2016 #38

What do you propose should happen to the $15 trillion in invested retirement accounts? Nuclear Unicorn Feb 2016 #39

What percentage of this is actually in the stock market? n/t eridani Feb 2016 #40

Around 60%; so, around $9 trillion. Nuclear Unicorn Feb 2016 #44

How nice for the top 10% who own 90% of stock market value eridani Feb 2016 #45

Again, it's not the 1% who are invested in 401(k)s. They don't need them. Nuclear Unicorn Feb 2016 #46

The top 10% is NOT the middle class eridani Feb 2016 #47

I didn't say the top 10% is middle class; I said the middle class are the ones invested in 401(k)s. Nuclear Unicorn Feb 2016 #48

I see. we hve no choice but to play the game the way our owners want us to. eridani Feb 2016 #49

What are your plans for $9 trillion in operating capital? Nuclear Unicorn Feb 2016 #50

Invest it in Social Security. eridani Feb 2016 #51

So, you would rip $9 trillion out of the operating finances of companies and Nuclear Unicorn Feb 2016 #52

The OP was about how things got much worse for people when defined-- eridani Feb 2016 #54

"Companies don't just let funds reserved for those pensions sit there" Nuclear Unicorn Feb 2016 #60

And I bet social security wouldnt get a dime Travis_0004 Feb 2016 #70

Nonsense. Adrahil Feb 2016 #73

There a re problems with defined benefit plans.... Adrahil Feb 2016 #72

My uncle's union pension disappeared last year... meaculpa2011 Feb 2016 #74

Yep GummyBearz Feb 2016 #75

I'm betting that among white people Bettie Feb 2016 #4

I wonder how much of that is driven by having a culture... TipTok Feb 2016 #7

I'd say it's driven by not having money n/t eridani Feb 2016 #8

... KentuckyWoman Feb 2016 #11

That's part of it... TipTok Feb 2016 #13

Wealth is generational gollygee Feb 2016 #33

Therein lies the answer to why Bernie's campaign doesn't resonate with blacks WhaTHellsgoingonhere Feb 2016 #9

Sanders has consistently been against the policies that cause the disparities eridani Feb 2016 #12

Black voters have specific needs and issues. My policies "raise all boats" doesn't speak to them WhaTHellsgoingonhere Feb 2016 #18

Yes--she speaks to them by calling black youth "superpredators" eridani Feb 2016 #19

Water under the bridge. WhaTHellsgoingonhere Feb 2016 #23

. . . and since the average 401k has less than $15,000 . . . . HughBeaumont Feb 2016 #16

Because companies got rid of pensions. alarimer Feb 2016 #20

I don't even get why were suckered into thinking this would work. HughBeaumont Feb 2016 #24

gee, thank goodness the aa vote is going to someone who will really help them restorefreedom Feb 2016 #21

Not this one bigwillq Feb 2016 #22

There's a lot going on here, with various drivers whatthehey Feb 2016 #26

I can tell Trajan Feb 2016 #28

Whatevs. Tata. whatthehey Feb 2016 #30

Where I used to work the match was up to 6% paid every payday. Nice because it compounded LiberalArkie Feb 2016 #34

This is solid advice! GOLGO 13 Feb 2016 #35

People in jobs without such plans can just go fuck themselves, presumably n/t eridani Feb 2016 #42

Well, no, there are plenty of individual retirement account services Recursion Feb 2016 #56

Which is ever so helpful to people who don't have anything left over after expenses eridani Feb 2016 #58

Whatever Recursion Feb 2016 #61

In my last quarter from Oct- end of Dec 2015 GOLGO 13 Feb 2016 #77

What about the people who can't afford to pay anything in? n/t eridani Feb 2016 #41

It's a pretty miniscule population that literally can't afford to put *anything* in Recursion Feb 2016 #53

No, it's the majority of the population eridani Feb 2016 #57

And nearly all of them could have afforded to save more Recursion Feb 2016 #59

Many of us who are unemployed now because of "guest worker" contractization of our work force cascadiance Feb 2016 #76

Well then……… Color me black MagickMuffin Feb 2016 #27

What group of white washed BS ? Trajan Feb 2016 #29

It was my attempt at a joke since I don't have a 401K MagickMuffin Feb 2016 #31

90% of the value of the stock market is held by the top 10% eridani Feb 2016 #43

Who cares? Recursion Feb 2016 #55

Bring back defined benefits pensions eridani Feb 2016 #62

God no. They're a horrible idea. Look at how badly they screwed workers over. Recursion Feb 2016 #63

My defined benefits pension has saved my ass in retirement eridani Feb 2016 #64

Hey, if you trust a corporation with your retirement, go for it Recursion Feb 2016 #65

Investing in the stock market also involves trusting in corporaqtions n/t eridani Feb 2016 #66

It involves trusting an entire set of markets, yes Recursion Feb 2016 #67

Which can go down the tubes as in 2007 eridani Feb 2016 #68

Which is why you slowly move out of equities starting in your 40s Recursion Feb 2016 #69

Apples and Oranges One_Life_To_Give Feb 2016 #71