The government in the US to encourage savings for retirement has a
program where contributions of up to 6% of earnings may be invested
toward retirement before taxes. Some corporations match
contributions up to 50% additional. All sounds wonderful, but during
the last few years some have seen losses in their retirement funds of
90%. Especially where corporations have controled investment in only
their own stocks for these funds or where "High-Tech" and high risk
investments were made. I invested in a lower yeild conservative fund
but still have lost over 50% in the last few years. Many in the US
approaching retirement are having to rethink the dates of their
retirement.
Retirement is not secure anywhere is the leason. My father in law
who worked till age 78 in Mexico saved for his retirement. For most
of his life saving pasos was like saving dollars in the US. Then
high inflation hit Mexico and when he retired he needed a
refrigerator that then cost $5,000,000.00. His retirement program
could not even pay the electric bill. He has now lived with me for
the past 10 years.
Hopefully the future of wildlife is more bright than money but that
to is scary.
Rich Peet
--- In "evertveldhuis"
<> wrote:
> Marty,
>
> What is a 401 K?
>
> I live in Holland and have never heard of it. Or is it something
like
> a 'UB40' : an abbreviation of a goverment rule/law providing money.
>
> Regards, Evert
>
> --- In Marty Michener
<>
> wrote:
> >
>=20
> Since my 401 K has now fallen below embarrassing levels
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