Finance Video about 401 K disaster-- animation

Theres this thing called 401K plans. Thats when your employer doesnt have a set retirement plan and you deposit your money into a special savings account that holds mutual funds. Those advisers always say: Put it in stocks because thats where the growth is and you dont want inflation to destroy your savings. So, like an idiot, I believed them and dutifully saved my money. Lately, the fund seemed to be growing smaller, but the professional advisor said keep it where its at. You have to take the good with the bad. Youll be ready when stocks go up. Then, there was this one week where the market kept going down and down and everyone said were doomed but I was trying my best to keep strong and stay the course.
Sigh

My 401K now barely exists. Where did all that money go? Thats okay, I dont need to retire.

Still, it could have been worse. Remember when they wanted to privatize social security and turn it into a big 401k plan for everyone? Imagine how that would have gone!

Category:

News & Politics

Tags:

• toon
• boom
• animation
• mussey
• retirement
• retire
• social
• security

[quail333]

The economists have created a parallel universe with its own psychology and logic and now reality is rearing its ugly head. There are some good five acre parcels for 10K out here in Joshua Tree, if you have initiative get back to basics.