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It's not my invested money..it's the insurance company itself that I question.
AIG..look what they did to themselves.
Please read my previous posts. There are plenty of solid insurance companies, consider the regulation of fixed annuities, and understand the difference between AIG's insurance business and its investment bank.
So, everyone who's been RIFd out there was a lousy worker?
not everyone, but I would say most
a RIF, (reduction In Force) is just that reducing the workforce. the BETTER employee, who can show more PRODUCTION or VALUE will be kept
say you normaly employ 10 people at this assembly plant, well you improve the plant and automate, now you only need 5 people, well you are going to keep the 5 most valueble, who can do the job...the others, becuase of being underacheivers, (just 'doing' the job, not striving for improvement) will be let go........its a fact of life ....even if you kept 10 people, you are going to get rid of (fire) non-performers (unless they are union, where performance means nothing)
The real problem is that most Americans do not have the financial brains or education to develop a properly diversified income stream for their old age.
I am so tired of this reasoning being used to justify a over zealous government.
a RIF, (reduction In Force) is just that reducing the workforce. the BETTER employee, who can show more PRODUCTION or VALUE will be kept
say you normaly employ 10 people at this assembly plant, well you improve the plant and automate, now you only need 5 people, well you are going to keep the 5 most valueble, who can do the job...the others, becuase of being underacheivers, (just 'doing' the job, not striving for improvement) will be let go........its a fact of life ....even if you kept 10 people, you are going to get rid of (fire) non-performers (unless they are union, where performance means nothing)
Eventually though all the bad ones are gone. Then what do you do ?
Since you have to maintain the bell curve there has to be a new set of slackers who previously were good workers.
I've seen it happen over the years with this and layoffs.
Just this week my company had more stealth layoffs..this time I know of a bright PhD that got the walking papers...I personally know this person and they are NOT a non-performer. After 3 years of stealth layoffs there are no more real slackers..we're now cutting into the meat.
a RIF, (reduction In Force) is just that reducing the workforce. the BETTER employee, who can show more PRODUCTION or VALUE will be kept
say you normaly employ 10 people at this assembly plant, well you improve the plant and automate, now you only need 5 people, well you are going to keep the 5 most valueble, who can do the job...the others, becuase of being underacheivers, (just 'doing' the job, not striving for improvement) will be let go........its a fact of life ....even if you kept 10 people, you are going to get rid of (fire) non-performers (unless they are union, where performance means nothing)
Obviously, but in many cases, the number of positions needed to continue the re-scaled operations is fewer than the number of quality employees. You're naive to think that a lot of hard working people haven't been affected by RIFs.
Ultimately, though, the question is this -- who do you want controlling your retirement money? Your employer, or you? If you prefer to control it yourself, then the 401K is the way to go. Employers can still contribute, and most do. Admittedly, I'm one of the lucky ones who still gets a dollar-for-dollar match on the first 5% of salary I defer. But I control how my retirement money is invested. If my employer goes under, I'm not at the will of the PBGC.
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