Quote:
Originally Posted by HuskyMan
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This is a case of violated expectations mixed with greed because the system is lax and the fox is guarding the hen house.
401(k) programs are good if you do not intend to stay more than 5-10 years because previously unvested employees got $0 pension.
Now companies are using this to cut costs and just pass it on to certain people in the form of bonuses.
To those who would say that "all people have a choice," no-- they don't. If you need a job and that's the only one available or all companies do the same thing, you are stuck. Unless you want to start your own company or resort to illegal activities.
The only alternative is an IRA savings plan which you fund yourself. And which every one should have.
When my son hits 21, I'm giving him $2,000 as a gift-IRA. He'll forget about it for 40 years and then from there he can do what he wants with it. I'll be 102 and I won't care.