really good story about 401K's on 60 minutes

[Brock Landers]

Really shows how things have been fukked up for people looking to retire, even though 401K's weren't meant to be retire funds.

[WileOut]

401k's are just mutual funds that have the advantage of not being taxed until you get your funds out. Whereas if you take your post-tax income and invest in a mutual fund, it gets taxed twice. 401k just lets you use pre tax income so it only gets taxed once. You usually get a choice of what kind of risk vs reward you want with your 401k and many companies match your contribution, making them a very wise financial choice. Lately I'm sure many have not been doing well because many are invested in the stock market heavily. Over time they are gold.

Anybody with a choice to invest in a company 401k should do so.

I don't understand why you say 401k's are not meant to be retirement funds, that is exactly why they exist.

[Brock Landers]

Wile, my wife and i moved all our money into the "guranteed bond fund" last september, right before the real shit hit the fan. That is a guaranteed small % return, ot a lot, but CAN'T lose either.

[WileOut]

Good move in these times to have it in bonds. However as soon as the economy starts coming back dont forget to jump back into stocks some.

[G's pks]

been in fixed...with c.d's for 3 years...

did watch 60 minutes no action for me today..

[mmike032]

Wile, my wife and i moved all our money into the "guranteed bond fund" last september, right before the real shit hit the fan. That is a guaranteed small % return, ot a lot, but CAN'T lose either.

you mean your wife moved her money

[Brock Landers]

no mmike, we have seperate accounts with prudential

[Mac4Lyfe]

My 401K didn't cover the spread last year. I would have been better off placing bets in Vegas with that stash.

[JBC77]

Wait until pension funds can't pay out the benefits that they owe. You'll see people in the streets with pitchforks when that happens and it will....

Rumor is- California pension funds are nearly bankrupt.

[Emily_Haines]

Wait until the hyperinflation kicks in due to the run a way spending from the government and eats the remaining 50% up.

[Bread]

you mean your wife moved her money

unreal.

[pico]

this is just the beginning fellas.

paul volker said this will take a while...but i think he is still trying not to cause a panic

http://articles.latimes.com/2008/dec/08/nation/na-volcker8