stories like this really, really, really irritate me.

[chad]

too long to paste from my phone:

http://online.wsj.com/article/SB10001424052748703959604576152792748707356.html?m od=WSJ_hp_mostpop_read

here's the summary: boomers have too little in their 401ks nearing retirement, so the solution for them is to increase the amount of money they give to fidelity or whoever in the form of contributions. now instead of 9% they should be giving 12-15%.

yes, take an industry that bankrupted your retirement savings through chicanery, lied and continues to lie to you, an industry which made up shit vehicles for you to invest in, one in which NOT ONE PERSON has gone to jain as a result of the meltdown...AND GIVE THEM MORE MONEY.

yeah, this time it will be different.

what amazes me is the tools in the story that are buying in to it.
>:(

[General of Darkness]

wow

[chad]

i also think stories like this are advanced to soften people up to the idea of some type of 401k confiscation, one where the government will take your underperforming 401k away but will save you with some new program.

[Publico Pro Se]

A fool and his money ...

[bellevuebully]

Well the dow has gone from 7k to 12k. After a 70 percent rise from the lows, I reckon this is about the point where people start jumping back in. Just in time to take the last 10% off the table before the smart money unloads all of their gains on them. Things never change.

[Sparky]

i also think stories like this are advanced to soften people up to the idea of some type of 401k confiscation, one where the government will take your underperforming 401k away but will save you with some new program.

This is the real threat. I don't mind them giving advice to invest more, as long as it is my choice, and mine to manage.

But there is talk of turning 401k plans into pensions managed by the gov't. They take over your account, and send you a check every month based on your balance. It's the new Social Security, which provides the gov't with several trillion dollars right up front to spend as they see fit, with the promise to pay you back over a lifetime.

[Sparky]

Well the dow has gone from 7k to 12k. After a 70 percent rise from the lows, I reckon this is about the point where people start jumping back in. Just in time to take the last 10% off the table before the smart money unloads all of their gains on them. Things never change.



Interestingly, the S&P this week exceeded a 100% gain from it's March 2009 low. The Dow is actually up 92% since then.

[Sparky]

Well the dow has gone from 7k to 12k. After a 70 percent rise from the lows, I reckon this is about the point where people start jumping back in. Just in time to take the last 10% off the table before the smart money unloads all of their gains on them. Things never change.



Interestingly, the S&P this week exceeded a 100% gain from it's March 2009 low. The Dow is actually up 92% since then.