Baby Boomers 401k Dreams Go Bust
source: http://www.wealthvest.com/blog/wade-dokken/401k-dreams-go-bust/
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- Wade_Dokken
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The Baby Boom generation‘s dreams continue to fade. Their home prices have been devastated to price levels first attained 6-8 years ago. This decline in value has in many cases eliminated their principal value invested in their home–historically a dominant element of retiree net worth.
Simultaneously is the wake-up call of their 401k real values. Over the past decades, the 401k defined contribution plan has replaced the more traditional defined benefit plans. Increased life expectancy, the risk of funding defined benefits, and the combined impact on the overall cost of defined benefit plans have made these plans nearly extinct.
Simultaneously is the wake-up call of their 401k real values. Over the past decades, the 401k defined contribution plan has replaced the more traditional defined benefit plans. Increased life expectancy, the risk of funding defined benefits, and the combined impact on the overall cost of defined benefit plans have made these plans nearly extinct.
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- tags:
- Federal Reserve, Retirement, Saving, pension, 8 more
