So how are you doing with your retirement?

[swirvenirvin 25]

to my brother in law enforcement.

 

Government jobs suck for retirement benefits. The private sector and their company match 401k plans are great. Realistically, my best financial decision would e to max out my life insurance.

 

 

we have a guy we call robokop and i work for the govt

[Flipper 57]

I think it's cool that some of the more fortunate are willing to contribute advice on maximizing our retirement potential - but I have a question pertinent to our times:

 

Doesn't 'maxing-out' the wages put into a 401k scare the hell out of anyone when the thought of Enron crosses your mind? Can we really trust these companies to actually give us our money back if they decide to go on a permanent vacation?

[Old School 360]

I think it's cool that some of the more fortunate are willing to contribute advice on maximizing our retirement potential - but I have a question pertinent to our times:

 

Doesn't 'maxing-out' the wages put into a 401k scare the hell out of anyone when the thought of Enron crosses your mind? Can we really trust these companies to actually give us our money back if they decide to go on a permanent vacation?

 

One of the biggest lessons from Enron would be HOW your 401K or retirement is invested. It's not a good idea to invest much/ most of yor retirement money in your company stock. The big reason why is, if the company goes south or tanks you get hit with a double whammy- your retirement savings is depleted AND you become unemployed.

 

The deal with a 401k or an IRA is how it's invested. YOU decide how it's invested, and diversify to reduce the risk. It doesn't have to be 100% invested in agressive high flying single stocks, or in TBonds.