Since 1980, pensions plans have been phased out in favor of 401(k) plans. They now represent nearly one-fifth of the U.S. retirement market. So how did 401(k) plans become such a popular form of retirement savings and how should they be used? Watch the video to find out.
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How 401(k) Plans Work And Why They Killed Pensions…(read more)
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I will forever be indebted to you you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs. Elizabeth Graham
401k's are a joke that got sold to companies but mutual fund managers
Its a joke how some boomer gets to have defined benefit pension and young people cant
Just to survive…all you low paid peasants..know your place cos thing's aint changed ok?
It's my 15 years being retired now. And life hasn't been so difficult as I thought basically because I put my head down and made ways for other source of Income. I'm a huge fan of earning more money, and I think everyone should have a side hustle. Side hustling can allow you to earn that little bit of extra money that can help you achieve your financial goals faster – whether it's paying off student loans or saving for retirement.
Appears to be something similar to NPS in India.
I’m a dividend investor, my wife and I have invested in the s&p500, both through my TSP with the government and through fidelity in her 401-k. Cashed out 370k from the S&P and invested with a full service broker.. Until about 3years ago we were 100% in the s&p after over 30 years. I’m retiring at the end of the month at 59, while my wife will retire next year at 54. We currently have 5.7 million in our tex deferred savings.
Mutual funds were just mom and pop originations before the 401k?
Mutual Funds are THE WORST investment vehicle in the 401ks, helping the rich get richer and the poor get poorer.
That's the true purpose of majority of Mutual Funds, to give your money away!
The main issue with the 401K is it's promoted deceptively to make it appear as if it was created in the best interest of the employee, when in all actuality it was created in the best interest of the employer.
Meanwhile Exxon made record-breaking profits this quarter so who's really suffering is everybody that God damn stupid?
WE HAVE NO GOVERNMENT REPRESENTATION WE HAVE A DEMENTIA WRITTEN SENIOR CITIZEN THAT HAS NO CLUE WHERE HE IS A PUPPET PUT IN BY THE UNITED NATIONS AND NATO SO THAT THEY CAN CONTROL THIS COUNTRY AND EVERYONE IN IT THEY'RE TAXING US TO DEATH THEY'RE GOING TO WIPE OUT THE SHELVES THERE WILL BE NO FOOD THERE WILL BE NO GASOLINE YOU WILL NOT BE ABLE TO FUNCTION THEY'RE BRINGING THIS COUNTRY DOWN TO ITS KNEES THIS ADMINISTRATION IS A CIRCUS IT'S A GROUP OF CRIMINAL CLOWNS AND AMERICA SO STUPID THAT THEY'RE BUYING THEIR CRAP. IMPEACH THIS GARBAGE FOR THEY DO NOT REPRESENT AMERICA NOR ITS VALUES.
My husband has been doing a “net worth statement” for a very long time. Our best advice is: “pay yourself first; live below your means”. We both enjoy our retirement lifestyle. The "idea" of retirement is the whole contradiction of fortv years of effort. The thoughts shift honestly creates good sized strain for many. I don't know who, however a person desires to pay attention to this, you have to stop relying on the government and saving all of your money. Venture into making an investment a few in case you actually monetary freedom
Love my pensions, 9000 a month after taxes.
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Lovely video.I’m a dividend investor, my wife and I have invested in the s&p500, both through my TSP with the government and through fidelity in her 401-k. Cashed out 270k from the S&P and invested with a full service broker.. Until about 3years ago we were 100% in the s&p after over 30 years. I’m retiring at the end of the month at 59, while my wife will retire next year at 54. We currently have 4.7 million in out tex deferred savings.
The lady said, "Your 401k is now in your hands"…. Huh! It's in Wall-Street's hands and if you retire when the market is way down or crashed, like 2008. Your destitute!
This was very informative.
Dave Ramsey a.k.a. the town idiot needs to watch this and re-educate himself before blabbering his hole on youtube. I have both 401K and DBPP pension. DBPP pension beats the $hit outta 401K anyday. PERIOD.
I'll have to save additional $20K/year myself to compensate DBPP pension (assuming I don't have one) in order to provide myself with equivalent monthly income stream in retirement. It's simple as that. That's additional $25K per year worth of money (incl. income tax) on top of my base salary. That's the undeniable FACT
It's just too "pathetic" to even think employers 401K match only 50 cents per $1 on 6%. That's just measly $3,000 per year employer contribution on $100K salary. My DBPP, the match is $1.25 to 1.30 per my $1 on 8 to 10%. Yes, my employer contributes 25 to 30% higher than myself. Also the ROI of DBPP is UNBEATABLE.
Game over.
The OLD FASHION COMPANY PENSION sucked. The inflation (13% rate) of the late 70's and early 80's EXPOSED those PENSION payouts as total JUNK. The IRA (401K) plans allow for WE THE PEOPLE to know that WE can save monies (sheltered from TAXES) watch those monies grow over time at 9% per year. Then upon retiring WE KNOW if we only withdraw 4% of it a YEAR, we will NOT be sent into POVERTY becuase of INFLATION as it did to MILLIONS of union workers. At a 13% inflation rate of the 70s & 80s the purchasing power of EVERYONE'S pension was CUT IN HALF in just SIX YEARS.
I'd rather open up an account with a broker and invest directly
I am a financial advisor and help people take full advantage of their 401k plans. I receive no compensation for doing this, just satisfaction from knowing they are on the road to a better retirement.
RiP off…!
34 and I chuck $800 a month into my 401k and max my Roth too.
Here's hoping I sit pretty in retirement.
How to screw the American worker!! Lower wages and no pensions.