Sunday, September 17, 2006

Private pensions go the way of the Edsel – The Boston Globe has a looong article today about the end of generous company pensions and how many would-be retirees need to keep working. All the more reason to repeat this hard reality: the only person you can – and should – depend on for your retirement is yourself. Corporations dissolve and the government cannot meet future Social Security obligations. But nobody can touch your 401(k).

5 comments:

Anonymous said...

'But nobody can touch your 401(k)."

Yet.

Regards,
JJ

Anonymous said...

Agree with JJ's comment. The two sources of wealth for most people are going to be home equity and 401K. It stands to logic that the politicians will tap these to fund SS and Medicare. There are no other sources left.

Eric said...

Sadly, I agree also. You can't get blood from a stone and eventually Congress will turn hungry eyes to the trillions held in 401(k)s.

Anonymous said...

I just had to add "yet," even though three other people beat me to it!

Anonymous said...

This is exactly why I have my personal fortune entirely tied up in Beanie Babies! In 2037, I sell!