Posted by W_B on April 18, 2014 at 07:56:57 from (155.188.247.24):
In Reply to: Union Workers posted by davpal on April 15, 2014 at 09:37:53:
Quoting Removed, click Modern View to see
Yes, about everyone that has retired from my company and that includes my MIL. Not sure where you get your information but it's a good vehicle for folks to build something for themselves for retirement. With company match up to 6% of salary for our plan it's a no brainer to put something away in it. I did work with a guy that shunned the plan for years as he thought he was doing better with bank CDs... safe, good returns... until interest rates kept dropping and he realized how foolish he had been and how much money he has forgone by not being in at least at a minimum level in the plan and having some equities and not just money market investments. Yea, it goes up and down but I can show where over time it is nothing but up. We still have a pension plan (a cash balance plan) and there might be some SS I can draw (if the politicians don't find a way to steal that too). In total it's not a huge amount of money but with the wife doing the same thing we should have a comfortable retirement. My MIL is still buying campers, motor homes and new cars, and about anything she wants, from her 401(k) that she built up while working here.
So, I reject what you say about the 401(k) being a lie. Maybe there are better vehicles but they aren't a bad thing... bet you wish you had some tucked back about now in a 401(k)?
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