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Was the 401(k) a Mistake? How an obscure, 45-year old tax change transformed retirement and left so many Americans out in the cold. (www.nytimes.com)

submitted 6 months ago by Blaze@reddthat.com to c/personalfinance@lemmy.ml

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[–] zagaberoo@beehaw.org 1 points 6 months ago (1 children)

So if 401ks are bad because they incentivize gambling, what's the alternative? You have a uselessly broad definition that seems to lead people only to a guarantee of losing purchasing power through inflation. Better guarantee a loss than "gamble" with strong evidence to support your risk I see.

Saying "the house always wins" about things like index investing is hilarious.

[–] The_Che_Banana@beehaw.org 1 points 6 months ago (1 children)

Quoting me and saying "super specific 'safe investment' type of investment is 100% safe and will always make money.

https://www.thetimes.co.uk/article/pension-fraud-stolen-uk-expat-brite-advisory-mark-donnelly-jjh5cr7mk. theyse guys aint laughing

When you give anyone money to "invest" you are gambling that you will make money.

[–] zagaberoo@beehaw.org 1 points 6 months ago (1 children)

???

[–] The_Che_Banana@beehaw.org 1 points 6 months ago

!!!