If I was in my 20’s these days I would think long and hard about paying into a pension:
3 Likes
This is nothing new. Over the years I have heard stories of underfunded pension plans because they used too optimistic yield projections. While defined benefit plans were in force the fund managers had the problem, once defined contribution plans came into existence the pensioners had the problem.
One more reason to be self sufficient instead of relying on megalithic institutions be they government or private enterprise.
The Captain
5 Likes
I had a heated discussion with someone a few days ago who saw no problem with “the government” replacing the “missing” pension payments which were not paid while people were out of work during COVID. I asked why she didn’t just cut out the middle man and write check to them directly. I think she felt I was some sort of right-wing ogre for not seeing the point.
Jeff
2 Likes
Just like the government made up the missing 401k contributions for people who don’t have a pension plan and didn’t work during covid. #sarcasm
7 Likes
Just like the government bailed out the Banks, Farmers, Automotive industry, and Oil companies. Yea I see your point. Bail out Business’s but the people working for them that were promised a pension. Well let them eat cake.
Andy
8 Likes
Completely right! Supply side econ way under performed.
1 Like