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Retirement - 30 Yr. Full Time - Reality of Fantasy?
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<blockquote data-quote="purplesky" data-source="post: 1128689" data-attributes="member: 23628"><p>Yes there are some lucky workers who can move to a better paying job and not miss a beat for 401k retirement saving but millions of Americans leave jobs due to layoffs or just from temporary employment.</p><p></p><p>The amount of people cashing in their 401ks to survive between jobs is staggering. Also the amount of workers with 401k loans is I think something like 1 in 5? Thats just not good. </p><p></p><p>You can also throw in the millions of Americans who are under employed or just part time that WILL NOT BE ABLE TO SAVE ENOUGH MONEY FOR RETIREMENT WITH JUST A 401K.</p><p></p><p>Frontline just did a piece called " The Retirement Gamble" thats really interesting and talks about the high fees of many 401ks. Its at <a href="http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/" target="_blank">The Retirement Gamble | FRONTLINE | PBS</a></p><p></p><p>I guess the trick is to have a huge(8 to 12 months) emergency fund so if you do change jobs you can leave your 401k and other retirement accounts alone. Problem is most people these days dont have an emergency fund.</p><p></p><p>You have the lost generation(living with mom and dad WITH HUGE STUDENT LOAN DEBT) approaching age 30 and millions of 50+ year olds looking for a job. Thats alot of people not able to save for retirement.</p></blockquote><p></p>
[QUOTE="purplesky, post: 1128689, member: 23628"] Yes there are some lucky workers who can move to a better paying job and not miss a beat for 401k retirement saving but millions of Americans leave jobs due to layoffs or just from temporary employment. The amount of people cashing in their 401ks to survive between jobs is staggering. Also the amount of workers with 401k loans is I think something like 1 in 5? Thats just not good. You can also throw in the millions of Americans who are under employed or just part time that WILL NOT BE ABLE TO SAVE ENOUGH MONEY FOR RETIREMENT WITH JUST A 401K. Frontline just did a piece called " The Retirement Gamble" thats really interesting and talks about the high fees of many 401ks. Its at [URL="http://www.pbs.org/wgbh/pages/frontline/retirement-gamble/"]The Retirement Gamble | FRONTLINE | PBS[/URL] I guess the trick is to have a huge(8 to 12 months) emergency fund so if you do change jobs you can leave your 401k and other retirement accounts alone. Problem is most people these days dont have an emergency fund. You have the lost generation(living with mom and dad WITH HUGE STUDENT LOAN DEBT) approaching age 30 and millions of 50+ year olds looking for a job. Thats alot of people not able to save for retirement. [/QUOTE]
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