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Trump Says Biden Plunging U.S. Into Depression. The Stock Market Hit a Record High (www.rollingstone.com)

submitted 10 months ago by CantaloupeLifestyle@lemmy.world to c/politics@lemmy.world

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[-] silverbax@lemmy.world 11 points 10 months ago* (last edited 10 months ago)

401Ks, in general, are a terrible substitute for pensions and social security. The GOP wanted to push Americans' retirement funds into the stock market, and they did that with 401Ks.

I ran some basic analysis a few weeks ago, and even with the corporate matching on 401Ks, due to the poor fund investment options available in most 401Ks, they underperformed index funds over a 30 year period.

Yes, that means many people who contributed to their 401K at full amount, even with matching, have less money than someone who just invested in SPY or VOO over the same period.

[-] slander@lemm.ee 7 points 10 months ago

confused by your comment because my 401k contributions go directly towards index funds. are you talking specifically about target date funds, or something else?

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this post was submitted on 14 Dec 2023

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