your 401K

your 401K

fiction
edward w pritchard


You can't self manage your 401K to a secure and comfortable retirement. When American companies removed most middle income workers from the security of pensions the companies effectively took away the security and dignity for retired American workers in their old age.

No one is proficient enough with investments and the stock market to manage a portfolio over a working life time and avoid the periodic catastrophic substantial losses caused by the vagaries of the capitalist system.

Would senior bankers at the Federal reserve give up the security of their government pension and rely on their self investment expertise to manage their own 401K during their working lifetime?

If you don't have a decent defined benefit pension from a solid company on average expect to wind up in your old age mostly dependent on social security.

On average your various financial experience sharing friends of your youth will have abandon you and the various companies you worked for will have devised intricate systems to pay you no sums or benefits once you have stopped working.

Above average? Plan accordingly to avoid a miserly old age experience.