The focus on 401ks has destroyed the retirement for millions of Americans over the last generation.

dudebro

Well-Known Member
no i wasnt arguing that at all. i was making a general statement about free will vs determinism. its a hard pill to swallow that were often not in control of our lives.

i think wealth redistribution would help since capitalism distributes wealth so unequally to begin with. you gotta hand it to the 0.1% capitalists: they trick everyone into believing its the best system, and they get rich.

and i agree people need to change their understanding of how money works and how capitalism works and then they will see that its a system which is undemocratic which funnels wealth to the 0.1%.

it should be no suprise that if you let a corporation who has an incentive to keep as much money for themselves as possible, then they are going to do a bad job at managing worker`s retirements.

different idea, but ive been thinking how much vacation per year do the capitalists take. and how much do the workers take.

i think when you combine the systemic inequality of capitalism, the way capitalism ruins jobs in the sense that workers would never vote to do that to themselves but under capitalism the capitalists make all the :censored2:ty rules, plus climate change because of capitalism, it means we need revolution and a new system.
Capitalism is the worst system, except for all the other ones. Which would u propose?
 

Babagounj

Strength through joy
a system where workers vote themselves at the job, and stop taking orders from bosses and capitalists. a cooperative system.
Even in this situation the voters have to decide who will be making the deciding vote should there be a tie.
Thus all you are doing is electing a new boss.
And everyone knows the new boss is the same as the old boss.
 

DriveInDriveOut

Inordinately Right
And with the current state of pensions, the same might happen. How do you think the central states retirees feel with the sword hanging over their heads, as they get older and less able to work? The S&P 500 over the past 10 years, with the worst economic slowdown in a lifetime, averaged 4.7% per year. Your pension invests in the market, hopes to profit, and give you the rest. If they lose money, then you're in danger of a benefit cut. Heads they win, tails you lose. Your pension doesn't come out of a magic drawer that says IBT on it with a 100% guarantee.
My pension fund is in great shape, even through the "worst economic slowdown in a lifetime" as you put it. So thanks for playing.
 

Babagounj

Strength through joy
I have a Life Annuity; monthly benefit for lifetime pension.
So I don't think they will be cutting my benefit amounts.
 

rickyb

Well-Known Member
Even in this situation the voters have to decide who will be making the deciding vote should there be a tie.
Thus all you are doing is electing a new boss.
And everyone knows the new boss is the same as the old boss.
its not perfect, but its an improvement over not voting at all...
 

dudebro

Well-Known Member
So no one is managing your 401(k)? Lot's of fund managers out there must be doing nothing.
They're ripping people off. I invest in index funds, where a computer basically maintains a certain asset allocation. I change the allocations myself. So, whatever you want to call that.
 

1989

Well-Known Member
My 401K is a piece of crap. Wish I never contributed to it. I was young and stupid when I started it.
 
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