Bricks_Mints on Nostr: It is my understanding 401ks were established to ween people off pensions, while ...
It is my understanding 401ks were established to ween people off pensions, while allowing companies funding those 401ks to treat them like a bank account. If you pay into a 401k, with equal matching, the company can write off those costs while borrowing from the funds to make more money. I don't know a single person who has retired on a 401k alone. So it's kind of a shitty pension fund.
Published at
2023-05-03 01:50:20Event JSON
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"content": "It is my understanding 401ks were established to ween people off pensions, while allowing companies funding those 401ks to treat them like a bank account. If you pay into a 401k, with equal matching, the company can write off those costs while borrowing from the funds to make more money. I don't know a single person who has retired on a 401k alone. So it's kind of a shitty pension fund. ",
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