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...........The vast majority of people in the US will retire with social security making up the majority of what their retirement income will be, not 401Ks.
..
actually most americans are saving...and have 401k, profit sharing, and many have actual pensions
even mcdonalds and walmart offer 401k and profit sharing
the biggest employer in the USA....the federal government
BTW..the US GOVERMENT is the LARGEST employer...that is fact, not walmart
largest employers....DOD...3.2 million employees
mcdonalds 2 million employees
walmart 1.8 million employees
pizza hut...not only a 401k but also a profit sharing plan
little caesars...401k + pension:
Quote:
little caesars offered: following benefits: Pension Benefits:
2A: Age/service weighted or new comparability or similar plan. Allocations are based on age, service, or age and service
2E: Profit-sharing
2F: ERISA section 404(c) plan
2G: Total participant-directed account plan
2J: Code section 401(k) feature – A cash or deferred arrangement described in Code section 401(k)
2K: Code section 401(m) arrangement – Employee contributions are allocated to separate accounts under the plan
2T: Total or partial participant-directed account plan
3D: Pre-approved pension plan
dominoes...not only a 401k, but also profit sharing
walmart...401k and profit sharing
almost all companies out there offer some type of 401k.....my local deli offers its people a 401k
my 401k's (2) have over 175k in each....plus I will have TWO pensions.... plus SS if it exists
to say """a vast majority will retire with only SS or SS making up most of their funds"""" is not a true statement for the majority of americans....especially when you consider the median household income is close to 60k..... and way higher in some areas across the country( ie the median household income here in LI is over 90k)
and getting back to the OP's topic.... this is where the freaking liberals lose it... they want to classify anyone or any household making 200k as rich..... meanwhile a cop married to a teacher can easily have a household income of over 250k, especially here in high cost of living nyc metro and its suburbs
No, you have a ridiculous fascination with trying to convince people into believing that more people have a stake in the stock market than actually do.
You're in denial. There clearly is $24 Trillion invested in retirement accounts:
Multiply that times 50, and add in Washington, DC, federal government employees, city employees, county employees, park district employees, etc., and all private sector employees who have either a pension plan or a retirement account of some sort. THAT's who benefits from the $24 Trillion that's invested in corporate stocks, etc. ALL THOSE PEOPLE depend on corporate profits to fund their retirement.
The pension system is funded by public and private investment. Why not have the overpaid CEO and their ilk have their over size payments go to dividends instead?
Good question. Why don't those holding the $24 Trillion in investments vote their shares for that?
pizza hut...not only a 401k but also a profit sharing plan
little caesars...401k + pension:
dominoes...not only a 401k, but also profit sharing
walmart...401k and profit sharing
almost all companies out there offer some type of 401k.....my local deli offers its people a 401k
my 401k's (2) have over 175k in each....plus I will have TWO pensions.... plus SS if it exists
to say """a vast majority will retire with only SS or SS making up most of their funds"""" is not a true statement for the majority of americans....especially when you consider the median household income is close to 60k..... and way higher in some areas across the country( ie the median household income here in LI is over 90k)
Of course, the converse is that 69% of Americans have retirement savings invested in stocks, etc. So, yes, MOST Americans benefit from those oh so evil corporate profits.
Of course, the converse is that 69% of Americans have retirement savings invested in stocks, etc. So, yes, MOST Americans benefit from those oh so evil corporate profits.
Profits are something that is created by making something and selling it.
pizza hut...not only a 401k but also a profit sharing plan
little caesars...401k + pension:
dominoes...not only a 401k, but also profit sharing
walmart...401k and profit sharing
almost all companies out there offer some type of 401k.....my local deli offers its people a 401k
my 401k's (2) have over 175k in each....plus I will have TWO pensions.... plus SS if it exists
to say """a vast majority will retire with only SS or SS making up most of their funds"""" is not a true statement for the majority of americans....especially when you consider the median household income is close to 60k..... and way higher in some areas across the country( ie the median household income here in LI is over 90k)
and getting back to the OP's topic.... this is where the freaking liberals lose it... they want to classify anyone or any household making 200k as rich..... meanwhile a cop married to a teacher can easily have a household income of over 250k, especially here in high cost of living nyc metro and its suburbs
That all very nice...i'm sure you're proud of your 401Ks and double dipping pensions......I personally have a 401K and have a NY State Teaching pension in my familial unit, so I can thumb my nose and laugh at all the other suckers.
...but again, you spend a ton of time bloviating something to disprove a point I didn't make..I never said that a lot of people aren't in 401K or have savings..I said that the MAJORITY of the money they will earn in retirement will come from SS, because the balances just aren't there, and that the vast majority of the income people earn is from work, not investment.
Your personal anecdotes, and the other guys unflinching desire to keep hitting the repeat button on a strawman point is frankly fascinating. He's trying to convince everyone that what's good for Wall ST is what's good for the majority of Americans.
A simple quiz to see how thick headed you guys really are:
If a person makes $50K a year, and they have 50K in a 401K and it goes up 10% in a year because a bunch of companies boosted profits while outsourcing jobs,..but that person lost their job due to said outsourcing. Now they have no job and $55K 401K balance.
Did Wall St's success
A)Hurt that person
B) Help that person
:Squawk: but there's 24 billion in pension plans, but there's 24 billion in pension plans :squawk:
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corporate profits.
