How 401(k) Plans Work And Why They Killed Pensions 

Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.

I agree. Based on personal experience working with a financial advisor, I currently have $2 million in a well-diversified portfolio that has experienced exponential growth from when i started. It's not only about having money to invest, but you also need to be knowledgeable, persistent, and have strong hands to back it up.

I work with Sharon Lee Peoples as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.

I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

Its unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $287k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

@@hasede-lg9hj Please pardon me, who guides you on the process of it all?

I won't pretend to know everything, though. Her name is Vivian Carol Gioia but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.

Thanks a lot for this recommendation. I just looked her website up, and I have sent her an email. I hope she gets back to me soon.

Bruuh.. I’ve seen the same exact comments on other videos. You’re not fooling anyone 💀

I was in this same position a couple years ago. I was always anxious about my retirement prospect and whether I was saving enough. I started working with a financial advisor, and I started making a lot of monthly dividends that my anxiety disappeared.

Haha money makes anxiety disappear. There's a lot of potential in investing. My friend introduced me to a financial advisor in 2021, and even though I was skeptical, I went on. I finally was making enough in monthly dividends to quit my soulless job and pursue my dream to start a restaurant in New Jersey.

That's interesting. Been suggesting same to my husband. Could you recommend who you work with please?

Sharon Lynne Hart is the licensed advisor I use. Just search the name. You’ll find necessary details to work with her to set up an appointment.

This method of having a high-growth potential alongside 401(k) seems to be the method most people are employing today. Thank you for the recommendation. I'll send her an email, and I hope she gets back to me.

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

You need to create your own process, manage risk and stick to the plan, through thick or thin or you can just seek the help of a financial advisor.

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65%. I believe that is the most effective way to enter the business at the moment.

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

*Natalie Marie Gentry* is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

I mean, it's not that hard to manage a 401K. Most company plans don't offer any type of exotic option and you are mainly left with funds that attempt to track along with a well established index. If you don't want any risk (and by default, no loss OR gain) most index fund have a cash equivalent option - similar to a savings account (or a bedroom mattress).

@@JetSkiBuyFixPlaySellChannel I like John Oliver and will do just that.

@@JetSkiBuyFixPlaySellChannel OK, I went and watched John's video on retirement plans. While he advocates index funds over actively managed funds, we implicitly agreed as I also advocated index funds without the mention of actively managed funds. All in all, John's video explained things for the most part I already knew (financial advisors are garbage, actively managed funds don't outperform random picking, fees eat up your compound interest) so not sure what your point was in referencing his vid in response to my original comment. Furthermore, his video actually cheerleads 401Ks as long as one is smart about its management, where your original comment seems to denigrate 401Ks concerning the transference of risk from company to employee, which John's video didn't even mention. So again, your point in referring me to this video is lost.

@@JetSkiBuyFixPlaySellChannel I don't even think John himself even mentioned pensions at all in the segment. Thr only reference to pension was in his piggy-bank picture where one of the pigs choice "cuts" was a pension, along with 401K, IRA, and annuity.

@@wjb4578 the main point was to invest in index funds and not pay fees to a "financial planner".

I am eternally grateful for the shift. 401ks are way the hell better. Pension tenure requirements force you to stay at a company, and with no guarantee that the company will be around to even give you one. Far better to pay as you go and have the flexibility and control over it than leave it to your employer. Plus, employees always paid 100%, it's just an accounting identity that tricks people into thinking otherwise.

THIS! It's why even with 401Ks, many people still can't retire comfortably (if at all).

@@breynoso19 nonsense. It's because people would rather rack up credit card debt and spend 15 hours each week watching Netflix rather than taking a little bit of time to invest in a 401k.

@@SevenRiderAirForce Not true at all. I paid 3% for 10 years into my pension plan and can already retire if I want at age 55 with 60% of my final average salary. I’m looking at $100K per year every year until I die(wife gets it then). I also have $500K in my 401K which I had to put in 100% of my own money and if I just skim the interest(say 6% a year) I can pull out $30K minus taxes. I put in about $48K TOTAL in my pension and over almost $200K into my 401K. The pension system is a much better deal. Do the math.

@@DWilliam1 You paid $48k into a pension over 10 years and it's now worth roughly $2M ($100k/.05%)? The math doesn't check out at all. When did you invest in that and when did you invest in your 401k? What investments did you make in your 401k?

They do

The US Office of Investor Education has a publication called " Saving and Investing". I wish people would read that instead of buy GME stock or penny stocks on a hunch on Robinhood.

Will they teach the people? The Government want to keep the people poor so that people will not stop working til they die so that they will not stop paying tax to fund the Government til working people die.

They do but most students don’t pay attention

,,Legit? Oh yeah, I forgot, huh? 𝟰𝟬𝟭𝗞'𝘀 , tax returns and all. Yeah, right." (Lamar Davis, Grand Theft Auto V, 2013)

There are routines capable of delivering consistent gains irrespective of economic or market conditions, but these are typically implemented by seasoned investment experts or advis0rs.

For near retirees, having an investment advisor is the way to go. I've been with one because I lack the expertise and emotional fortitude for market ups and downs. I made over $490K during the recent dip, highlighting that there's more to the market than we average folks realise.

Could you kindly share the contact information for your financial advisor here? I'm in urgent need of one.

She seems highly educated and informed. I looked up her name on Google and found her website. Thanks for sharing.

@@antonnohr you people are Nigerian scammers, all of these comments are scammers run by the same people.

I fully agree; I'm 56 years old and recently retired with approximately 1.2 million in outside retirement funds, no debt, and very few dollars in retirement funds in comparison to my portfolio balance over the last three years. To be honest, the financial advisor's role can only be ignored, not dismissed. Therefore do your research to get a reputable one and that should be any individuals main route into the market.

A million dollars in profit is a fantastic achievement; how can I contact this advisor of yours?

thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

Awesome

Nice lie bud

Nobody knows anything, you need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving

Nowadays, it's really simple to invest in trending stocks, but the challenge is knowing when to sell or hold. To support me with entry and departure points, my advisor steps in. Within 18 months, I've accrued almost a million dollars from an originally stagnating reserve of $300K.

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

My consultant is “Kaitlin Rose Sternberg”, She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision. I basically follow her trade pattern and haven’t regretted doing so

Her website immediately showed once I copied and pasted her complete name into my browser; her credentials are outstanding; thanks for sharing.

I can't tell from your post if you have a 401(k), but with $165K in income annually and nothing to show for it, it sounds more like you need to review your monthly budget because you are living beyond your means. Seek financial advice, reduce your monthly expenses, and any money you save should be invested wisely.

@@alexyoung3126 I'm self-employed, therefore I sponsor my 401k companies, and I'm open to multiple income streams. If you've worked with an advisor before, how was your experience with them? Is it as profitable as you make it out to be?

In other words, an advisor-managed portfolio would average 8% annualized growth over a 25-year period, compared to 5% from a self-managed portfolio.

Yes, a Fidelity financial advisor named "Eileen Ruth Sparks" put an end to my fears about investing, and after making more investments, I was able to reach the seven-figure mark in less than 3 years. A licensing advisor satisfies the necessary security criteria; hence, reimbursement is guaranteed if I'm dissatisfied with the service, so I'm much better off hiring one.

Thanks for this advice. Finding your financial advisor was easy after looking her up. I found her website afterwards, left a message and hopefully she will reply soon.

A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.

@@Curbalnk Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.

@@Shultz4334 I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

*Heather Ann Christensen* is my advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online. I usually trade in accordance with her strategy

@@Shultz4334 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

It's very sad you won't learn this in a lonat publicg while schools... 🤷‍♂️

Yeah when they say a 401k is free money well when you look at what it replaced it's actually has a cost and that cost is the employee has to take the risk not employer

Some firms offer both at the same time

As an old guy, we're pretty happy that I have a modest pension.

My company used to have both. Offered a portable pension so you can take it when you leave…..for a lesser amount of course. Eventually it become 401k for newbies.

Numerous compelling stocks span various industries for you to consider tracking. While it's not necessary to act on every prediction, enlisting the guidance of a financial advisor is advisable. They can assist you in determining optimal entry and exit points for purchasing and selling shares or ETFs, ensuring well-timed decisions aligned with your investment goals.

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 4years+ and I've netted over 2.8million.

Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.

Leicia Zavala Perkins is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment

I know times are uncertain. I and my spouse are working on a ballpark estimate of $5M for retirement, and I have a good 6-figures each loaded up for this, you mean we can't do it in 5 years at most? I'm nearly 55.

@@geraldantonio3160 Very true, people downplay planners role, until burnt by their mistakes. I remember just after my layoff early 2020 amidst covid outbreak, I needed to stay afloat, hence researched for license-fiduciary advsors. Thankfully, I came across someone of practical knowledge, and decades of experience, I liquidated 200k of 325k from my 401(k) it has yielded nearly 1 m after subsequent investments so far.

@@SlParkerlee can you refer me to this person you wok with please

@@marcorocci-ct7kw Cant reveal much info, Stacie Kristal Weber is the C.F.P responsible for my portfolio success, it's only right you look her up and confirm yourself.

@@SlParkerlee Thanks for the share! I'm looking forward to discussing with your planner Loren. I just had a chat with a correspondent on her platform. Looking forward to having a proper conversation.

That’s the primary reason why the shift happened. People used to live only a short time after they retired. Now it’s not uncommon to live 15-20 years retired. This is an enormous burden on pension funds so we saw the shift to personal plans. In order to not drain your retirement fund the rule of thumb is a 4% withdrawal rate. The average person (in America) absolutely has the means to accomplish this if they start early enough. Investing just $100 per month for 40 years will get you a balance of over $1M using the long run average return on the entire stock market. A 4% withdrawal rate means you can replace 80% of your $50k income and still have your portfolio growing to account for inflation. The problem is the average person pays money they don’t have for things they don’t need to impress people they don’t really like. The average car payment is about $600 per month. People are literally paying a fortune to give the facade of affluence.

It is all about percentages though. Someone who makes less throughout their working life would have a lower standard of living and therefore need less in retirement. The real problem in my opinion is that finance is not taught in public education and the government just expects ordinary citizens to know this stuff and understand the details. Families that simply have the benefit of how the game works have such an advantage.

Making money from stocks look deceptively easy. The reality is that stock market is one of the toughest mental games in the world, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares you focus on....

We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "Deborah Jean Dykstra", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.

@@Natalieneptune469 Hello, please i'm in dire need of an F/A , how do i find this Deborah

@@Natalieneptune469 Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

What i recommend is putting your money into a fixed index annuity. Your money is safe, even if the market crashes. But when the market goes up, you’re able to capitalize on the gains. If you’re interested, I would love to get in contact with you. That way I could break down exactly how the annuity works and potentially how much your money can grow within the next couple of years

Find stocks with market-beating yields and shares that at least keep pace with the market long term. For a successful long-term strategy you have to seek guidance from a broker or financial advisor.

I agree, I was on the sideline for awhile observing, trying to figure out the best time to get in, that was before I came by a coach, commended by a pundit on Reddit, reluctant at first but I went ahead and got in touch with the coach, long story short, it's been 3years and counting and I've made over 1.5million dollars simply by following her guidance. I took a vacation to Bahamas this summer just to reward myself a little for the consistency lol

@@Deanswain19 Please can you leave the info of your investment advisor here? I’m in dire need for one.

Having a counselor is essential for portfolio diversification. My advisor is Diana Luise Hines who is easily searchable and has extensive knowledge of the financial markets.

@@Deanswain19 Found her webpage, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2023 on a woodnote financially.

I did but most of my peers didn’t pay attention

@@jeffreystanley4991 what grade and was is a mandatory class?

@CNBC channel made 11hrs ago with 0 subs. RiP. 🤷‍♂️🤡

I learned about mortgages, loans, taxes, compound interest, etc. in both algebra class and in economics class - over 50 years ago. IRA's didn't exist then but basic saving and investing did and was covered. Of course to get that information you actually had to take those classes, pay attention, do the homework, study for the tests and want to learn. Most did not.

lol I misread it as 13 years of public shooting

I truly agree with you on that,

I must say crypto is the future and with the way Bitcoin is climbing so high it's really advisable for people to invest now.,

It's not about watching videos and wasting your time and strategy, I was ignorant doing so...I decided to try Mrs Serenay and ever since then she has made about $38,000 for every $4,000 I invested

Jobs will pay your bills, business will make you rich but investment makes and keeps you wealthy, the future is inevitable.

An opportunity that wan once a fear, is now my full time career.

For many years, bonds or other fixed-income assets have produced the yields needed to provide solid income for retirement needs.The importance of having financial safety could be why boomers are turning towards advisors in retirement planning

Agreed. It's always wise to be proactive and consider diversifying our investments to manage risks in uncertain economic times. I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.

my partner’s been considering going the same route, could you share more info please on the advisor that guided you to such impressive gains

I started out with a financial advisor called " Monica Selena Park ". Her honest approach gives me complete ownership and control of my positions, and her rates are incredibly affordable given my ROI. I'd suggest you look her up and let me know what you think

Thank you for this tip , I must say, Monica appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say, it was quite impressive. I reached out and scheduled a call

Yep that’s how I do it. For allocation of the money it depends on risk tolerance but for me personally I do 70% in US large cap ETF and the remaining 30% in US bond ETF. Fairly aggressive but diversified if the market craps itself. Always aim to max out the Roth IRA contribution every year!

Wish I could do a Roth but I’m a Canadian working in the US and while both governments have an equivalent account (Roth/TFSA) they don’t recognize them cross-border so only the 401K and the IRA is recognized cross border 😭

Money left over... LMAO

For me I would insert “Max out HSA” before going back to 401k

Don’t forget about an HSA if you are on a high deductible health plan!

Same. I ignored it until 2018. Now I'm 30 with very little in 401k. I wish I started out early.

That money will double many times over until you retire. Keep on saving!

Keep your head up, and those contributions up. When we are 70 we will be thanking our younger selves.

Never gonna make it

Put in a ROTH IRA if you are in a low tax bracket or manage your own investment account and buy S&P index funds by putting a portion of your pay every period. 401K is good imho if you have employer contributions (free money), otherwise it’s just a prison for your money.

managing your investments within these accounts is just as important as simply having them. For this reason, you require the assistance of a market-savvy specialist for your portfolio.

Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now and I scaked up my portfolio by 45% since Q2

Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining rapidly. And I need investment advice for retirement.

I looked up her full name online and found her page. I emailed and made an appointment to talk with her.

During the down turns is when money is really made. Stick to the plan, don’t freak out, don’t have a lot of debt and you will be fine.

You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.

@richszabo4693 can you refer the financial advisor that guides you? i really need to grow my portfolio

@richszabo4693 i looked Corinne up out of curiosity and she seems really proficient, i've already sent her a mail detailing my financial goal, i hope she responds soon

Those are market makers that lock in profits early pre market as well as after mkt 😅

@richszabo4693I just contacted her. Thanks

I too advise people to trade outside their companies they mustn't know. I did it and here is my strategy I don't hold minor companies except i want faster profits at that time or when i get greedy i then opt for them through a Pro only because being very much more profitable it is riskier too and i can't handle Lol.

@@kathleenstoner.n7499 Smart Strategy! Pls where can i check ROIC, Market Cap, e.t.c. And again who is the Pro you work with? Can i hire or work with him?❤️

Don't know if this is wrong. I work with "Sandra Yvonne Webster" She's quite popular and a director with NTS. You can look her up online. in all honesty, she is an Angel.

Sure but what if your company was Apple or Tesla or amazon?

Most folks my age will retire with nothing. Not enough 401k.

Exactly

What’s crazy is that most lost half of their retirement last march over a scare. What happens if something more catastrophic happens?

@@Iwish4zombies the 2020 year finished out at a 16% return on the S&P 500. 2020 as a whole was a great year for the stock market. So people shouldn’t have lost money.. if anything they were able to buy stocks on a huge discount

@@wildernessinwilderness8032 yes 2020 was great to lower people’s cost basis. It’s very unnerving that it was able to drop so quick I’m more speaking on japans lost decade happening in America.

This is the real answer

You got half of that right. They cost the employees more and the tax payer more. Banks win twice

Less risk on employer side. No commitment to employee.

Employees always paid 100%, so less expensive for employers is a win for both parties.

Compound interest is amazing. In some cases, it has actually kept pace with inflation

Most are under paid to do 401ks

Now you tell me

@Future Philanthropist Neil no, I'm saying now you tell me about compounding interest and to invest early.

@Future Philanthropist Neil Got it. Wish I knew earlier, like 30 years ago.

Keep it simple in the beginning. Buy something, like an index fund, and hold. Educate yourself in the meantime and elevate your risk tolerance over time.

In order to make profits from trading you need loads of experience and a well-defined strategy, which most traders don't have. If you trade without the proper preparation, you're most likely to lose your money. Identify the buy/sell ratios and identify the market leaders and most importantly. Diversify! this will help you spread the risk

Even with the right technique and assets, some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally, I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again

who is your financial coach, do you mind hooking me up?

My consultant is *MARTHA ALONSO HARA* I found him on a CNBC interview where he was featured and reached out to him afterwards. He has since provided entry and exit points on the securities I focus on. You can look her up on the web if you care about supervision. I basically follow her trade pattern and haven’t regretted doing so.

Same here sis, 40 this July and I’m giving it my all to learn.

Courage taught me no matter how bad a crisis gets ... any sound investment will eventually pay off." start one today.

same her i made 34 a couple months ago, been watching financial channels for a couple years now. Slowly but surely improving economic health. knowledge is power

@@cristinabaker5292 How is it going for you? Do you have a pretty solid passive income every month from dividends or stocks if you don't mind me asking?

@@richaelsophia6871

@CNBC Dude, we know you are not the real CNBC

Good for you, hedge your bets!

@@mjohnson1741 What do you mean?

@@myrad.florence9860 You're not putting all your investments in 1 source that's very smart.

Same for me - federal employee

Good for you. Invest in a S&P 500 index fund, and do not sell, especially when the market declines. Do not sell no matter what. You will be so happy you stay invested.

@@TwinJalanugraha thank you 🙏🏽

Aye I work at Publix too and I had mine for a year and already have 2k in it

19 tf you gone do with a 401k

@@kjthomas4553 watch it grow. You see, your mindset is why you’ll be working until you die. Your never too young to invest. Want to know what she gon do with a 401k? Contribute and watch it grow to hundreds of thousands over her working life. I’m 18 with a TSP. What you got?

@Mary Shea This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name MARTHA ALONSO HARA and everything changed. I started enjoying huge returns from my investment.

@Mary Shea Look up her name on the webpage

*MARTHA ALONSO HARA* is quite popular on Bloomberg I doubt if there is anyone who is serious about stock trading that doesn't know her. She has helped me quite a few times in growing my portfolio and it was blissful without any setbacks. she is a tough person in an industry that demands clairvoyance

My employer takes out 15% of my salary for pension. I'd like to do both but it'd be way too much.

Same here.

@@melindamichelle8263 How about each time you get a raise, you take a percentage of that raise in put in a 401k/Roth? You get a 3% raise, you 1% and put in a plan. You'll see a bump on your check, so you know you got a raise, and after 5-10 years, you'll be clicking along pretty good in your plan. Heck, the first raise, you can put the entire percentage into your plan and get it rolling. Anyway, just a thought. Good luck.

@@bertoncolon7857 What are some good stocks to invest into a Roth IRA? I've had one for a few years and it's just sitting there?

@@madlyncunni9007 if you dont want to get taxed, just get some Municipal Bond ETFs, plenty that earns 4+% in dividends..but you can lookup ''Karen Marie Emma, for a professional guide, she's very good. Just look the name up and you'll see her page.

Assets that can make you rich Bitcoin Stocks Real estate

You're right Sir, it's obvious a lot of people remain poor due to ignorance, it's better to take risks and make sacrifices than to remain poor

I'm from Spain i have been an investor in the crypto market for over 2 years now

Now is the best time to purchase and invest in Bitcoin, stop procrastinating!!

I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this

401Ks are vastly superior.

@@siegfriedfurtwanglerknappe6188 lol no they're not. Pensions are a lifetime benefit, 401Ks are not. 401Ks are highly dependent on the market, and you can literally outlive your 401K even with proper financial planning. Since you didn't provide any evidence, I'm assuming this is just a bot account anyway.

@@css666 401Ks regularly reach million status. They compound tax free. They provide the average joe, in case they have a long term saving mind set, with the ability to become very wealthy. You have social security for life time coverage, but as we all know, that's more or less a scam and doesn't guarantee to meet any serious expenses.

You should see the amount of underfunded pensions out there

@@css666 You can buy a pension, it’s called an income annuity. Give me literally any benefit of forcing me to have a pension than to invest in my working years and then buy an annuity in my 60s.

@Lucas Hudson you're right Sir, it's obvious a lot of people remain poor due to ignorance

@Lucas Hudson it's better to take risks and make sacrifices than to remain poor

@@kelvinpeter8640 it's not ignorance but due to some unprofessional broker in the market

I recently got into forex trading and im already marveling over the profits I'm making, I'm like " how the hell have i been sleeping on this

I'm new to Bitcoin trading, i need a real broker to guide me through my trading course

I agree with you and I believe that Professionals are currently dominating the market since they have access to both the necessary strategy for making money in this industry.

That's awesome to hear. I invested 5k in Robin hood about a year ago and it steadily went down, now my portfolio is down to $800. I don't know what to do and i am in between jobs

@@divlweb Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances.

I’m Glad i stumbled on this. Please, if its not too much of a hassle for you, can you drop the details of the expertise that assisted you and how to get in touch.

@@divlweb I get guidance from *Susan Tori Davis* Most likely, the internet should have her basic info..

Then invest in low cost index funds and buy an annuity, what exactly is the problem here?

Not to mention, many acount mamagers charge excessive FEES just to service your account taking a significant "cut" of what you've invested.

Considering that I am only three years away from retirement, it becomes challenging for me to solely concentrate on the long-term perspective. Despite having invested in reputable companies and having a significant amount of funds allocated, my profits have been stagnant......,

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January,......

how do I get in touch with this consultant that assist??,...,..

STEPHANIE KOPP MEEKS, that's whom i work with look her,....

Exactly!! Retire with 1.5 million, You'll probably see 500,000 after taxes.

Not if you invest in index funds

@@DD-ye9bb Use Roth 401k to avoid taxes. I spend 20 bucks a year in fees

@@DD-ye9bb that’s taxes, not fees. Vanguard funds have low fees between 0.01%and 0.06% for example. Taxes would be based on if you chose a traditional or Roth option for 401k/IRA. You shouldn’t see 66% of your account disappear due to fees or taxes

When your balance gets over X dollars, have most of it transferred to a Vanguard 401k account. I did it. Better options. Less fees.

Our Fin_ancial advisor is “ Doreen Louise Dehaan “. She is a professional fin_ancial/Invest_ment advisor. you can search her up on the internet where you can get necessary info about her and as well to connect with her.

@Thomas Freddy *Doreen Louise Dehaan* is my financial advisor

Literally a copy paste of another comment with different amounts

You never mentioned your losses in 09 to 2011

100% this ☝️

Pension puts the responsibility in the hands of the employer, while 401k puts the responsibility in the hands of the employees.

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Unfortunately most employees spend more than they save so this is a terrible thing

That's amazing!

Usa has social security that is effectively a tax that ultimately results in a pension like payment once you reach retirement - similar to super. 401k in addition to this for some

Most employees don't stay at one job their entire working career. Pensions are terrible for workers. It's like Social Security. If you die before receiving it, you lose everything.

I forgot to mention that if you have a 401k you own the vested balance. Many public pensions charge double digit fees out of your income to fund the pension and if you leave the job you can't take the balance with you.

​@@MrSupernova111that's still better a guaranteed retirement fund though 401k are not guaranteed.

Why does your job owe you guaranteed lifetime income?

pensions aren't perfect either. If the company goes bankrupt, your pension is gone. If the company mismanages the funds and overestimates returns, your pensions is cut in value. You can't take your pension with you to a new company. 401Ks offer employees more portability and options with their retirement, something pensions didn't. If you know very little about personal finance (as most americans do), yes rthe 401K is a bad deal. But if you like to managae ypur money ypurself because nobody will manage your money as well as you will, then the 401K is a better deal.

I am a newly retired 57 year old woman looking to diversify part of my reserves sav $250k into real estate but I hear it is not a good time to invest in Real estate. Can I get anv idea on other options?

Thomas Andrew Anton is highly recommended

@@charlottedale1111 Can i get across to your financial planner?

@@LewisAtonn With the help of Thomas Andrew Anton Aka EarnwithAnton who works with an Investment organisation in England, I have been investing in the Foreign exchange market, Stock, and dividends with his expertise and quidance, he has helped me tremendouslv in making maximum profit in my portfolio

Earnwithanton

It's your money, you inherently will take on risk for investing.. how is this the fault of your company? If they match you then that's just a gift from them.

Someone has to take on risk. Risk is not bad if you know what you are getting into. Max equity drop would be 20-30% for one year max, would you rather the company be in control of your investments choices or you? If you want to invest in bonds or government treasuries for 20+ years and lose money due to inflation then go ahead your choice with a 401k.

@@boots911 you sound like an institutional slave

It’s better that way, 401ks are limited on what you can invest it but it’s better if you manage it. What happens if your employer goes bankrupt if you were in a pension plan. Hell no your 401k is yours and you can carry it around with a rollover.

@@jherc12990 u can link your 401k to a self directed brokerage account, like TD Ameritrade. 401k is still garbage though

Yep. You can always have an advisor manage it for you too. Yeah, they charge fees. But so do mechanics to fix your car too. It’s an option if it gets complicated.

Agreed, i'm in the same boat and a SEP-IRA is the way to go. Takes a bit to set up but once you do its fairly simple (with vanguard or similar)

@@sasstewart1222 I am also self employed. Yes, I had a SEP IRA but then when I changed to an LLC, I had to switch to a SIMPLE IRA from the SEP. Neither are really very hard to set up or maintain.

@@sasstewart1222 Yes, I was able to put in almost 50k.

Why not index funds? Don’t mutual funds have high fees?

That's very practical and smart goal a wise man once said do everything in your power to get out of debt one of his tips on getting rich

I heard so many millionaires like Elon Musk are investors in the crypto space

I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings

Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company

Now is the best time to purchase and invest in Bitcoin stop procrastinating

Thank you sir for your words. Appreciated

That’s why it is good to diversify so market fluctuations don’t effect you as much.

I agree as someone who has a pension ,savings ,and Social Security benefits.

You're put of touch, man. Millenials and Post-Millenials won't have social security, retirement plans, healthcare, or any of the benefits Boomers did. Maybe old folks will struggle, but none of it will effect us.

Agreed. The fact that it's gambling is rather shocking.

Privatize the gains; socialize the losses...The American Way 🇺🇸

True

Technically the pensions is more employer friendly. As the employer can just cut your pensions if they want to. Happens all the time.

So use the 401k to invest in companies that get bailed out

Only a handful of businesses actually get bailed out. We should put a stop to the ones that so. You don't understand how businesses work if you think employees have all the risk. It's quite the opposite.

@CNBC lol fake CNBC. Don't scam here

Your experience isn't the norm Jose, glad you're doing so well

Where do you work were they still offer a Pension AND 401(k)?!?!?!

@@FirstLast-oz6rs UPS offers it

@@FirstLast-oz6rs Jose, sounds like military. Speaking from my experience I'll retire in 6 years at 39 with a pension and our 401k (TSP) is A good plan. One must take advantage of both pension and TSP

It can also be a risky source.

Lobbyists got the original bill passed with that intention !! The government doesn't give people a tax short cut to be nice. BEWARE

Did you mention social security?

@@DavidEVogel I thought about social security,,but it is another heavily underfunded obligation. Scary

Pensions are a cost of doing business just like wages. There's no magical duty of care between employer and employee.

I have tried lots of traders but non is as genuine as Maria Martinez, though I was skeptical but still gave her a try of $500 and got a profit of $7,500 in 5days I'm so grateful🙏.

She’s available on telegram with the below username

@maria_martt

And that's a very vital info many still fail to grasp,perhaps they lack awareness about investments or are just ignorant, totally depending on salary alone for wealth growing is not lucratively advisable..I'm 36, I've been maxing my 401k, IRA and HSA since I started working this month I cracked the million mark and I'm 100% into various stocks ETFS and crypto-currencies

Exactly 😌, many are just glued to their salaries they fear that without its securities they can't survive and that's when attaining financial freedom becomes tough. I'm also well invested into the financial markets and as of now I'm earning around $15k weekly and that's from crypto and the foreign exchange market alone 💙 it's amazing to see good testimonies from a fellow investor

@@huizhongchangchang3520 You're totally right Ma'am, after I chatted your broker I carried out my own research by searching his name on the web and I found his bio page. Today marks the 3rd time I'm profiting with his system, he has generated over $45,000 on my behalf in a span of 1 month from an initial $10k principal, I'll just use this medium to say his systems and methods really works and I'm now a beneficiary of it ✌🏼hoping to accumulate more profits letting him trade on my behalf in the markets

@@BrutallyHonestRevs Because it is a bunch of bots, they have been infecting RU-vid for a while now Your unease is caused by: They are always agreeing (rare in the internet) They refer to a person without mentioning that person's name and somehow the other bot knowns exactly who they are talking about

It's very sad you won't learn this in a lonat publicg while schools... 🤷‍♂️

Sad but true. Most of the people I know who lost their jobs did not work for companies that offered/didn't make enough they felt comfortable contributing to a 401k. These tended to mostly be retail/service workers. Most of my white collar friends have experienced no problems and actually enjoy and prefer to work from home. Many of them even got raises over the past year or graduated with fantastic job offers lined up. The economy really is split in two.

@@andrewbaker4652 doesn't mean people don't save money, people without them were the most affected because they most likely had to use all their savings to stay afloat.

@@itsmervinsz2053 Sad but true. I completely agree.

Most of these talking heads are Wealthy and can't relate at all, so when they talk, it doesn't make sense sometimes.

@@billyakin3301 C,,,,O,,,,N,,,,T,,,,A,,,,C,,,,T F,,,O,,,R I,,N,,V,,E,,S,,T,,M,,E,,N,,T A,,S,,S,,I,,S,,T,,A,,N,,C,,E

I make 50k and I invest nearly 20k into 401k and roth annually! I'm not even 30 years old and have over 300k into My retirement already. I'm about to use 150k to start My own laundry and smoke shop business. I hate working for other people so I made life changing sacrifices

@@csick11 while your particular situation may be true. The values of sacrifice and delayed gratification are, indeed righteous when it comes to saving and compounding. I would say, your situation is unique when you look at the average. Do we need to teach those values to our youth? Absolutely. Is our current middle class ready to save 40% of their income? Absolutely not. My broader point being. The "one size fits all" mentality of 401ks and IRAs is flawled. No different than the "you must go to college or you'll fail" one size mentality of the 80s/90s. Our government sees the failure of social security written on the wall and I don't blame them for encouraging retirement savings. But in order to achieve that. They need to build the middle classes ability to save first. Either directly or indirectly.

@@NWJF that's one of the major problems with Americans! They put wants before needs and make priorities out of meaninglessness! Having investment goals isn't first priority for many people. They rather have a nice car or up to date gadgets! People don't get into debts without having income. They basically drown themselves to the point where they are in a position to live paycheck to paycheck. I can't remember how many years it's been where I actually bought snacks and sodas while on the job during lunch breaks! Instead of 10 dollars a day in the breakroom. I spend 40 over the weekend to prepare meals for the next 2 weeks for work. Saving isn't hard! It's a goal that everyone should have but it's overlooked by many people. I come across many people who are making decent wages and working many hours of overtime with nothing to show for. During lunch breaks people will talk about how they are being underpaid or how much they hate the job. Everyone has a poor excuse rather complain Instead of finding a solution to fix the issue! I even told few of my long time employees how they could have made over 100 grand if they invested in the company where we work. They would laugh and think I'm lying. Make fun of me and call it a bluff. Once I showed them one of my stocks portfolio. The room got quiet and people were in regrets 😆. I can tell you even though they see the outcome. Not a single person has started to invest. These workers has no children or own homes! They are young bucks living with family making 60k annually and whining about being broke! The sky is the limit! I will always tell myself that I'm broke but I can afford anything that I need and retire early if I choose to do so

god bless you!

As long as you make sure to at least emphasize where the "growth" variable is coming from, since it's not guaranteed and could be very inaccurate.

@@hobbesisreal6818 At the beginning of the pandemic I saw some people take everything and move it to moneymaket/cash options because of the sharp decrease in value

Correct me if I'm wrong but you don't need to, and probably shouldn't, calculate exponential functions to estimate retirement savings due to changing variables such as contribution amounts and annual rate of return. Estimating retirement savings is best done in a spreadsheet and inputing each variable separately while accounting for major life events such as purchasing a home or a car and the cost of education.

401K's are a working person's best friend.

I agree 100%!! Public pension are a multi trillion ticking time bomb and an outdated retirement system. For people who are responsible and have the discipline to save for retirement they will be much better off with a 401k plan.

Great points 👍🏽

That's only if the stock market doesn't crash. Ooppsss too late.

If they could match your 401k, they could pay you that amount also but choose to not and put it off until retirement. Hopefully this money doesn't get tapped in like Social Security.

I wish I could like this comment million times. I always tell people that it's better late than never. Therefore, If you want the chance to maximize your income, you will need to explore investing your money

ve been considering buying ETFs/SCHD stocks for retirement, I have set asides $100k but somewhere along the line, I get cold feet maybe because I'm a rookie and have no idea what I'm doing, please I could really use some guideline.

@@pierceandhide5413 You can buy dividend ETFs if you don't want to get into individual stocks. My favorite is SCHD. you can use a coach as well.

@@daniellecooper1302 A coach sounds like a good idea, can you recommend a good one?

@@pierceandhide5413

What do you mean by tax efficient?

@@lukerider479 on a Defined Contribution pension you get tax relief, so you get 25% or more extra from the government on your contributions (there are some restrictions.). Also, some companies avoid paying National Insurance through something called "Salary Sacrifice." Effectively this means they pay into your pension before they pay you, this again has it's limits. All in all though, paying into a good pension in the UK is a smart move for your long term finances.

Kind of like churches and families used to.

They'd rather teach girls how they don't need a man, and boys that they can be girls

Well honestly that's what churches used to do. Good churches still do. But the liberal churches are like anything you see on TV

it's cnbc

@@awakenedone7577 Those who cry loudest about keeping morality out of the state are the ones getting their religion from the state.

Something tells me that you are broke. Just a hunch.

Did you get burned gambling on GME and other meme stocks?

@@DavidEVogel It's as if millions of voices cried out in horror

How do you think the company gets the money for the pensions fund? I’ll give you a hint it may have something to do with investing.

A 401k is better and far more stable 100% of the time.

A pension does not have to be "with the employer". I work in academia and my pension is a teacher's retirement program. Lifetime benefits. It's less in terms of montlly income compared to a 401K except I will not run out of money, neither my spouse. The 401K has never been created to serve the employees, let that be clear. I have a teacher's retirement, a Roth and an HSA. No 401K

But if the stock market crashes, especially if what you invested in tanks, sayonara retirement.

@@YaYa-jy1yv the stock market crashes and rebounds throughout history. Also, look at California and NJ pension crisis and debt. Huge taxes, but lots of wealth inequality

I'll never understand this mentality. Pensions are subject to change and if a company goes belly up? You're left holding nothing. In a 401 you're in complete control, assuming you take control of that, in your financial freedom. Pensions are almost always unsustainable. Most at the government level are nothing but ponzi schemes (guess what a major chunk of your taxes pay to municipalities). It boggles my mind people still think pensions are this fairy dust laced magic we can have. The cost of a pension has to come from somewhere. If you take an example of many civil servants with a fat pension( 20 years of employment to qualify). And they get started at 21? By 41 they get vested. Imagine if the pension was structured as such that they get 75% of their salary......how on earth is that sustainable to the local tax base? No two companies are the same. Some match 10% others only 2%. But the idea is that you're free to educate yourself on the investment vehicles and make sound decisions. Who cares if the market goes up or down if in the long run your money is going to grow with it. In the long run, you're money grows if nothing else because market is fending off inflation. That's Econ 101. Goes up and down. Its only a casino if you day trade and put your eggs in one basket. Financial education. Needs to be talked about. Because 401ks are not a bad thing. Pensions are great in some industries--smallish companies with fixed labor cost. They can sustain the cost. Even then. Pensions have been restructured. Bought out. Or capped. Retirement is not guaranteed in any scenario and people need to learn how to plan accordingly.

I actually consider that a good thing. If I rely on my employer for a pension, I have a lot of risk. The company could go under or people could live longer than they were expecting both of which could at the very least, cause reductions in the pension amount. With a 401k, if my company goes out of business, I can get a job at a different company which hopefully provides a match, but my money is safe from the actions of that company and as I control the investments, I can make sure that it is well diversified to help reduce risk from the markets and get far better returns than the pension plan could ever hope for, especially if I start young.

The companies decided to not accept the risk What risk?

> it was ONLY about minimizing [risk] exposure for the company And that is exactly what a company should be doing. It exists purely for the benefit of its shareholders - not society and not its employees. People keep forgetting this.

@@DavidEVogel > What risk? Well, how about the risk that you need to go into Chapter 11 bankruptcy to get out from under pension obligations which are making it impossible to compete with foreign companies? Or the risks that you planned for in the 1960's (when most people died within 5 years of retiring) and are now leaving you underfunded because people are living for 20-30 years after retiring?

100% Reaganomics the begging of downfall of American middle class.

Why not? If a company can afford me better

@@nicedurians exactly. Go where you're treated the best 👌

No, the reason people jump around is because how companies are willing to pay you more if you're not a current employee. People literally do "boomerangs" where they go to a third party for a bit then re-apply and magically get that promotion or raise that they initially wanted.

@@dailyrant4068 It's not as if the two concepts are not related

Working with management, jumping around jobs is not considered good. They look at your work history and if they consistently see you have gone through multiple jobs, they expect you will do the same with them and disregard your application process.

Beautifully said, I tell my folks these words everyday. It's good to save money but most people don't understand the market moves and tend to be misled in facts like this and always depend on money in the bank.

No doubt crypto has earned me alot, you just have to understand the market

That's definitely ignorance, they are good Markets to invest in and earn profits from your investment

I have been trading for over 7 month's with no good returns, rather loss and blown accounts, really heart breaking

My personal portfolio/investment manager; Mrs Jessica Leigh Caden , after a whole week of research,she runs an investment platform where you don't have to undergo any stress in the trades, she manages my trading account which i opened with a capital of $3000 and now i have grown my portfolio up to over $6500, a huge success.

Good for you!

Yea NYC is a real gem, LOL.

they are

Invest in a Roth IRA as well as a taxable brokerage account

What are your other suggestions for affording retirement then? There's IRA, which is basically a smaller version of a 401k. I guess you could say to massively cut your expensive.

@@spacetoast7783 Don't listen to this guy. Thank god I still have a pension. Good luck retiring with a 401K.

@@TheBandit7613 Uh OK? Retiring with a 401K is certainly possible my dude. You seem like the type that gets confused easily, so yeah, thank goodness for your pension and 30-year handcuffs.

You can work wherever you want, contributing to your 401(k) for a specific amount of time is crucial along with other forms of savings.

Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works

Starting early is the best way of getting ahead to build wealth,investing remains the priority. Forex trading has plenty of opportunities to earn a decent payout,with the right skills and proper understanding of how the market works

I totally agree with you,Forex trading is the most profitable venture I ever invested in,I reached my goal of $500k yearly trade earnings, setting realistic goals is an essential part of trading

Hello I'm new to forex and I have been making huge loses but recently I see a lot of people earning from it,please can someone please tell me what is going wrong

I'm young, so I may not fully understand, but isn't that where a Roth IRA comes in?

Well when you’re retired you generally don’t need as much money as when you are younger. By retirement age you should have paid off: student loans, mortgage, cars, kids grown and moved out, etc. So it’s not a bad assumption

401k saves you money at your top marginal tax bracket. Even if you make lots of money, you still save money on the tax rate savings.

I always figured that I would not pay very much less in taxes in retirement because I'd be doing Roth conversions early in retirement. This is why I took the deal that the IRS offered in 1997 to convert your traditional IRA to a Roth IRA, and spread the tax over 4 years. I might save on state income tax, but the 22-24% bracket at retirement was what I expected.

Average US household income is $60k... an old couple with a paid off house, cars, and grown up kids can certainly live in less than that

It’s not if the market will crash, but when. But you’re young, so don’t panic. Keep investing on the dip (crash) & and invest monthly using dollar-cost averaging; this is a good strategy during volatile markets & instills investing discipline.

Oh you would love a crash. If youre young then a crads will let you buy indexfounds or stocks chepaer eich will give you miee moeny long term.

"I'm 22 years old" okay, their is a long way to go my friend, good luck to you.

It skyrockets until it doesn’t. And it can go the other way in a big hurry.

Take a look at the stock market in 1974, 2000, and 2008. Please let us know how long it took to recover nominal values (not including inflation) then add a few more years to account for inflation. You're doing the right thing but don't get too cocky. lol

What’s the name of this company

This is why getting rid of the social security taxable income cap is so important and making sure the funding for it is robust, because the reality is most people will need to rely on it to have dignity in retirement. And no social security isn't going to bankrupt, yes we can easily make it solvent for the next 100+ years if we want to, just gotta scrap the current taxable income cap.

That is sad. Some of the more competitive companies have better matches but most have about 3%. We need more financial literacy in this country because it’s going to be tough in years to come b

I am a youngin who doesn't know this. Thank you for your comment. It was very helpful.

Throughout my working life, I have been putting similar amounts into SS/Medicare and my 401k (~15% to each system). When I retire, I will be able to draw three times (yes - THREE TIMES) as much money from my 401k each month compared to SS while being able to pass down any remaining balance to my heirs when I die.

This comment needs more likes

Parents should be doing this. Kids spend more time learning dances on social media

Then how would amscot and predatory loan companies and banks make money?

Yes, but you have to realize they try their hardest not to. I've worked for companies that claimed to offer it, then would work me 39 hours a week (not 40) to intentionally prevent me from enrolling in benefits. I eventually quit after a few years and moved on, but most companies function like this now and only offer 401k or retirement plans to management or people who have stayed with the company for 3+ years after working on no benefits or health insurance. I will never be able to retire.

@@sega64official move to a different employer that treat you the way you want

@@fireeye33 not possible.

@@sega64official why not? you deserve to work in a great company.

@@fireeye33 companies like that simply don't exist around here. The one I work for now also doesn't offer insurance, retirement, or anything and no one else will hire me because my hand is broken.

I’m currently looking out for stocks with solid growth prospects.

I’ve bought lots of stocks that seems like there’re gonna generate good profits but they always end up performing poorly.

Many of the best stocks to buy for the rest of this year remain heavily tied to economic recovery prospects.

@Paul Nolan I’m aware of Frost Hilda, how consistently are the profits and how long has it been?

That’s a good thing you’ve got going on Paul , Some stocks are in the right time to deliver impressive growth.

That will pay off greatly when you're older.

Actually most employers do offer matching up to a percentage of the employees pay if the employee contributes that percentage or more.

Never worked anywhere without a match... sounds like an important thing to find out before working somewhere. Be an adult and do your own due diligence.

You are completely clueless.

Get another job your employer hates you and wishes you to leave

Every place I’ve worked so far has offered union government(more like pension) non union

How did you buy your bitcoin?

A 401k system puts the individual in charge of their own future. It pushes people to work harder to pay off their retirement. A pension system has many other flaws, like the risk that the company goes out of business all together.

@@Stoneface_ Thanks .I hope you’re lucky like that too.

I'm also a federal employee of 28 years and I'm under the TSP plan. I have mixed feelings. I'm a relatively high graded employee making over 6 figures and when I retire, hopefully, after 30 years, my pension will only be about 3,000 a month before taxes. I will get the supplement of 75% of my estimated social security which will be anywhere from my guestimate of $1,000 to $1,500 a month. That's not as lot of money unless I had a home I had that was paid for which I don't. However, under the old retirement plan, I would gross about $90,000 a year. I'm not complaining because I have my own savings as well as my TSP to draw on if I fall short an any given month but I know many other feds that have no savings at all, even higher graded people than me (don't ask me why). That is why I see more and more feds working 40 years so they can max out their pension and collect SS.

But if employers run out of pension money to pay out, you the worker still loses. Look at Sears.

“Well deserved”. Entitlement mentality at it’s worst, 😂

you can't expect a company to pay it if they go bankrupt and they will not be legally obligated to do so. Look at what happened to general motors employees that spent their whole lives working there. if these employees had their own 401Ks they would have had all those deductions over the years plus the earnings instead of losing all those deductions over 30-40 years which they had hoped would have funded their pension. Employer matching contributions are not real money? You really should have stayed in school.

​@@royharper2003 Why shouldn't you expect to get a promised pension??? Yes employee contributions are made adding numbers to your account, like a bank. You dont literally see that money, thats what I was trying to clarify. You dont even know me sir, You dont know what I went to school for yet yo telling me I should have stayed in school..lmao..I probably make more money than you sir as a registered nurse

@@Anne.411 If you had actually read my comment you would know why but I will repeat myself. Promised pensions can be lost if the employer becomes financially unable to pay them as in bankruptcy. Medical benefits can be lost as well. An employer can't pay if they don't have the money. Employer contributions to a 401K plan become YOUR money and you can see their contributions in YOUR account. They are not phantom contributions only on paper. Your original statement is actually backwards and if you can't understand that then Nursing School needs to provide some classes in Finance and/or Accounting or require some level of college business classes.