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Soul searching
Ah yes, the wonders of depending on the free market for our retirement incomes!
Free markets go up and down, but for the most part, they incrementally end up.
I’ll take my chances with the free market, although at the present time I’m taking a bath.
metatonia post 2,
well I can comfortably say that for the last several years I have not taken a bath: my contributions exceed my losses in my 401K.
Now if there were some truly safe plan for my 401K money but alas there are really no truly safe options.
On a more serious note driven by the comic, however, I observe:
1) this weekend we apparently dodged a bullet regarding the potential collapse of Fannie Mae and Freddie Mac
2) not so long ago we didn’t dodge a bullet with respect to Bear-Stearns
3) we appea to have hundered of billions of dollars in what is turning out to be bad mortgage based debt
My sense is that the U.S. is treading a very fine tight rope at the moment and it appears that our leaders are not particularly interested in discussing it.
I suggest that for a market to be fair, we need knowledgable investors and my sense is that this critical knowledge is being withheld from us.
Ok. I’m just going to come out and say I don’t get it. I need the thousand words - or less.
MIM: the falling stock market has cut 401k investments in half. So the poor sap in the cartoon now only gets a 201k statement in the mail.
Thanks. Doh!
People get checks in the mail?
Maybe he’s sending mail, not getting it. I seldom get checks, mostly I mail them out.
Actually, Travis is probably right. Although many of the already retired get 001K statements and $0 checks.