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http://boards.fool.com/freedom-from-anxiety-over-job-loss-is-a-luxury-in-13465092.aspx
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| Subject: Re: The New Luxuries | Date: 10/11/2000 1:38 PM | |
| Author: fzabaly | Number: 21432 of 686235 | |
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Freedom from anxiety over job loss is a luxury in today's world. Job security wasn't such a big deal in earlier times, when there were millions of middle-class workers who believed that it was unlikely that they would ever lose their jobs. Yes. But as a 40-yr-old, I believe today's job market re: retirement accts is a big improvment. It took me about 3 yrs after being fired/"laid off" in 1992 to come to this conclusion. A columnist I enjoy, Scott Burns, stated that under the 'defined benefit pension' system, most retirees received approx 50% of retirement income needs from the pension. But employees had to stay many yrs (10-25) at a single employeer to get this size of the pension. And some pension plans were badly handled, resulting in less benefits. He cites a 1997 study studying employees that were covered by state and local pensions, as thus did not participate in social secuity. The article is at: http://www.scottburns.com/001008SU.htm Given that my current field (computers) is so volatile wrt jobs and companies it makes sense that my 'pension' /IRA/401(k) is portable. The job market demands this portability. And as a control-freak, I prefer making my own mistakes <ggg> Bye FrankZ |
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