Why a 401(k) is Better Than a Pension
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So many young people don't get the benefit of a pension , they keep quitting the job and trust me my job is not bad at all. Some could retired at 45 yrs old it's crazy young people don't care.
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Thanks for the info for someone in there 30's
401k will never be better than a pension.
Both is the best
I don't feel satisfied with the answer !
I wanted a more in-depth , detail answer to pensions vs. 401k .
Some how i don't think Dave will converse with somebody from a union of any sort that is pro pension and could prove their points .
1:15 "You're in complete control of that money, it is owned by you." And the risk is owned by you too! Therein lies the true power of a pension; the real benefit of the pension, your employer takes on all the risk and you get all the return!
Rarely I disagree with Dave, but Pensions are better than 401ks.
The point is. those who have pensions also have the choice to also contribute to a separate retirement account as well. So they double win, right? Those without pensions are walking up hill in comparison to those with.
How about pension plus 401k
Agreed..But I think people complain to corporate America about pensions is because there seems to be money to pay the CEO and his executives outrageous salaries, bonuses and millions of stock options more than ever before.
reading the comments…. looks like everybody is in “BRAGGING/MINES BETTER YOURS” mood…. hahahahaha…
Do both if you can. Get the best of both worlds
I have both 401k and pension. Completely forgot about the pension. I have 17% of weekly checks going into the 401k with a 3.5% match.
You sound a lot like Jim Ross
My dad contributed 50k to his pension plan and lived long enough to be paid out over 800k or 60k annually. He was ok not being a millionaire.
I hope to be a 401K millionaire soon
I have pension and Roth IRA. Also brokerage account in case I under budgeted.
In Wall Street pension money is called stupid money
I have both, but the 401k will be the primary retirement income.
Some pensions are far superior. The NPV of that guaranteed income is multi-million in some of the more generous cases like govt.
Big warning: You need to keep your grubby hands off your 401K money!
What’s better 401k or Roth IRA
I agree with Dave Ramsey on several things. This is not one of them.
As someone who retired from the military at age 38, the pension is amazing, especially during this past year under the pandemic. Every month, money is deposited into my account. I have not had to worry as much as others because I know that a roof will be over my families head whether or not I am employed.