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You know what’s “dumb”? Is your stance on renewable energy. Forget about climate change, based purely on economics, cheaper and better always wins. The fact that you can’t see that Josh makes me question your judgment on other things too. I’ll keep studying you and reserve judgement until something sways me one way or the other. For the most part I enjoy your walks n talks.
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
First sentance tells us they have no clue at all. Of course, if you don’t have a pension you will use your 401k!! Duh. If I had a pension, who needs a 401k!!! Savings sure…..omg..
Crazy article.
Josh you really need to figure out how to get a handle on these scammers. I get more scam attempts on your channel than all others combined.
Whatsap crap, bots trying to get people to use their can't miss advisor, etc.
Keep working till age 80
A boomer with $1 saved for retirement will likely have less @85 years old compared to a boomer who saved $1,000,000.
I am 60. When I turned 59 1/2 it was scary to see my 401k plan broadcast that the entirety of my balance was available for with-drawl. I think what the article is saying is people with pensions have a monthly check and people like me with a 401k are trusted not to get drunk and buy something they should not. I actually just had a beer so what do I know… I will watch this again in the morning.
Bad news sells so they have to get people to think things are bad.
Guaranteed income from a pension was great…unless you needed more than your "normal" payment. People with a 401k can draw as much as they want so it makes perfect sense that they would be "more likely" to run out of money. If a tiny percentage take out an extra $30k to buy a car at age 75 then they will have less money than a guy with a pension who cannot access those funds.
These people get paid to publish stories. There's no reason to be surprised that most of them are simplistic garbage because the authors are simplistic and most of their readers are as well.
They had an article they wanted to write with a predetermined outcome and just made up the facts to make up the story.
Clickbait SJW
Why do retirees spend down "so much"? RMDs often force people to withdraw WAY MORE than they need for living expenses.
My wife and I have been in the s&p500, both through my TSP and through Fidelity in her 401k. Until 3 years ago, we were 100% in the s&p for over 12 years. Cashed in $300k from the S&P and invested with a full service CFA. We currently have $1.2million in out tax deferred savings, no children. I retired last year at 49 and my wife will retire next year. I can say we're doing just fine. You've always been helpful Josh, Thank you.
This is all about liberal media trying to gin up the idea of revival of private pensions dressed up as a fear.
Go Whalers!! You from CT?
I’m not surprised at all. Ask her what a woman is? Rational thoughts are not there in this one and plenty of other ones.
Aldo Nova
Of course 401K savers will have less at 75, RMD’s have kicked in by that point. Doesn’t mean they have less, just less in a 401K.
nice tat dude
Then stop telling them to retire early
if you have a federal government pension, depending on what your high 3 salary is and length of service is the range for the pensions are from about 15K- up to 130K ( high salaried employees with 30 plus years of service), for life with COLA's
When my company stopped giving new employees pensions about 5 years ago they started contributing 6% of their salary into a 401a account instead.. no match just goes in once a year as long as you work there… it’s yours to manage and invest as you see fit. I’d love to be able to figure out what mine would have been worth over 33 years vs the lump sum or pension I was offered in 2020. They said it was designed to be essentially equivalent to the pensions – at least based on their cost to provide. For those who don’t stay in jobs these days 33 years it might actually be better and definitely more portable unless you don’t invest it as well and appropriately as the pension fund does. I feel very confident in my private pension…. But in many situations this would actually be much better!
My dad was born in 1932… he had NO pension and had a 401k at the last place he worked.. this woman who wrote this article is certifiably nutty! Haha Pure Fear Porn sans logic – as Josh would say!
Thank God we have a great pension and will be semi retiring early next year. And not true that my husband was making less than most .
Maybe the point is that those without are realizing that their own savings isn't enough? Now I know enough to never run out but for many "educated " people these facts seem scary.
You don't know ALDO NOVA?