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Author: decath Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 744719  
Subject: Re: Millionaires, Billionaires, and Teachers Date: 12/11/2012 2:45 PM
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That is a good article. I was talking about this exact thing with my DW a few months ago.

Is a pension considered more honorable than a 401k account that can provide the same amount?

Related to this is the fact that most of us in the private sector do not have the option of a pension. It's 401k, IRA or just straight taxable investments. I certainly have no problem with that, as long as the gov't keeps it's greedy hands off of it.

But you can see a possible 'bad' ending to all this.

- First they get rid of pensions
- Replace with 401ks and IRA's giving people sole responsibility for their own retirement funding except perhaps a paltry 1-5% match by their company, if they are lucky
- many foolish people don't participate.
- the gov't, run by leftwing Nazi's, cry foul that some saved and some didn't
- the gov't consfiscates the savers $ for the benefit of the nonsavers


What the gov't fails to see as that most of the 'unsavers' blew their $ on trains, planes and automobiles while the rest of use where bringing our lunch to work so we could put in 10% or more into investments/savings.

Like I said bad ending....civil war.....blood in the streets....

decath
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