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JDPriestly

(57,936 posts)

18. I have been posting on this issue for ages.

Reply to Fire Walk With Me (Original post)

Sun Apr 28, 2013, 10:38 PM

Apr 2013

I didn't have the numbers, but as you get older, you can see this happening.

And at the end, you pay those deferred taxes that you were told would be so great . . . . But "nobody could have known" that the stock market would crash just as baby boomers were about to retire.

The 401(K)s are an obvious scam. They are the reason that hedge fund manager (or former hedge fund manager) Pete Peterson hates Social Security so much.

If Wall Street weren't robbing us blind on our 401(K)s, a guy like Pete Peterson would not be so anxious to destroy Social Security.

The anti-Social-Security cabal doesn't want seniors to compare when they retires. Because Social Security is reliable and secure compared to the stock market and banks.

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Highlight:

PBS Drops Another Bombshell: #WallStreet Is Gobbling Up Two-Thirds of Your 401(k) [View all] Fire Walk With Me Apr 2013 OP

Not sure I understand what they are saying BlueStreak Apr 2013 #1

You're missing a lot of the fine print Warpy Apr 2013 #4

Are you saying that the load the Morningstar (and others) report is not accurate? BlueStreak Apr 2013 #6

I wouldn't call it hogwash, but it's misleading at best Major Nikon Apr 2013 #17

They would have been a lot more credible if they had gone with ... BlueStreak Apr 2013 #19

Agreed. And if a 401k only offers only high-fee funds and has a high management fee progree Apr 2013 #22

Agreed. I have been in 4 different employer 401Ks BlueStreak Apr 2013 #24

Yep, all the hot-shot investors joked about my IRA... Eleanors38 Apr 2013 #26

It wouldn't surprise me if some employers have so trapped their employees Major Nikon Apr 2013 #23

A friend of mine had his 401K invested in a "semi-agressive" portfolio CountAllVotes Apr 2013 #27

I've always looked at stocks as a long term investment Major Nikon Apr 2013 #31

This was a good, and scary, piece Lifelong Protester Apr 2013 #2

Excerpt here: NYC_SKP Apr 2013 #3

I Don't Know What Ms Martens Meant to Say, On the Road Apr 2013 #9

I have mixed emotions about this BlueStreak Apr 2013 #14

I Agree That the Concern is Valid On the Road Apr 2013 #25

In the companies where I have worked, 95% of CEO compensation BlueStreak Apr 2013 #28

VFIAX - VANGUARD = member-owned. And Vgd S&P 500 fund has grown 42-fold since 1976 inception progree Apr 2013 #29

Sorry, but I have a problem with this article... brooklynite Apr 2013 #5

Manage your own investment Dan de Lyons Apr 2013 #7

It is possible, but most people don't do better BlueStreak Apr 2013 #8

Some how not all all unbelievable CountAllVotes Apr 2013 #10

This is pure nonsense (broad-brushing). My 401(k) was mostly invested in Vanguard index funds progree Apr 2013 #11

Bogle recommends investing in index funds nt No Vested Interest Apr 2013 #13

I am a grateful Boglehead nt progree Apr 2013 #16

i invest in ebayables. wall street is a casino. only the HOUSE WINS. pansypoo53219 Apr 2013 #12

Not a bad idea for a chunk of your portfolio to be in such barterable things. AtheistCrusader Apr 2013 #15

I have been posting on this issue for ages. JDPriestly Apr 2013 #18

I'm not sure I'm following much of any of this progree Apr 2013 #21

Why does the tax deferral look so good on paper? JDPriestly Apr 2013 #30

Tax deferral works even when tax rates are the same in retirement progree Apr 2013 #32

I agree that rental properties are not an alternative. JDPriestly Apr 2013 #34

Actually, I deployed some new money in REIT (Real Estate Investment Trusts) progree Apr 2013 #35

Deleted. I meant this to be in reply to #18. Sorry about that. nt progree Apr 2013 #20

Saving for later. Thanks for posting. n/t Laelth Apr 2013 #33

I hope you trash it for the garbage that it is nt progree Apr 2013 #36

I appreciate your insight on this subject. Laelth Apr 2013 #37

You're welcome. Please read #11 where the "2/3" figure came from. It is a hypothetical. progree Apr 2013 #38