Stock market declines aren’t the only dangers to your 401(k) savings
by Jack GrantAt The Huffington Post, there is a very unsettling entry titled “Trying to Fix the Broken 401(k) System“. It reveals that as has been proven beyond a reasonable doubt in the past year, those on Wall Street are more than ready to utilize any and every means to exploit their “customers” in the quest for profits.
Sigh…
With pension plans disappearing, the 401(k) was pretty much the only replacement that would aid people in retirement, yet they are being used to enrich those administering the plans, above and beyond what is fair compensation.
While I strive every day to not fall prey to complete cynicism, the task becomes more difficult with each revelation of how the world works.
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Cross-posted between Random Fate and The Moderate Voice.
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