Speculating with Your Savings? Annnnnd It’s Gone

Funny and true. Unfortunately most of the current employer sponsored retirement plans are “defined contribution plans” like a 401(k) instead of “defined benefit plans”. With a defined contribution plan YOU, the plan participant rather than your employer BEARS ALL THE INVESTMENT RISK; along with NO GUARANTEE of a monthly income stream when you retire. And contrary to popular belief, the stock market is not the efficient place to warehouse your savings like the Wall Street corporations and media have led you to believe (at one time it was popular belief the world was flat, and the earth was the center of the universe). Quite the contrary. Click here to see the numbers.

“Under defined contribution plans, an individual’s retirement plan assets can be subject to significant changes in value due to changes in market conditions, including close to retirement.” – Hon. David Walker Former U.S. Comptroller General

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