In the US, 401Ks are pretty much your only retirement option now, no? Private pensions are almost nonexistent and there’s no national pension plan that I’ve heard of… state plans?
401k isn’t necessarily dependant on the stock market, but the stock market being the ‘right’ investment has been a self-fulfilling property, any ‘default’ election goes mostly stock, because stock goes up. stock goes up in part because a portion of everyone’s paycheck defaults to being spent on stocks.
But what you can do with a 401k can be limited. I was looking at my options for something that would be a bit more bubble resistant, back testing them against the crash of the attack on Iran, and every single one of the options my plan allows had market exposure, even if more of them were not directly stock.
In the US, 401Ks are pretty much your only retirement option now, no? Private pensions are almost nonexistent and there’s no national pension plan that I’ve heard of… state plans?
Bold of you to assume we can afford retirement, ever?
abd 401k are apparently dependant on the stock market. yea only certain govt employees get pensions.
USPS, city and county workers, police fireman.
401k isn’t necessarily dependant on the stock market, but the stock market being the ‘right’ investment has been a self-fulfilling property, any ‘default’ election goes mostly stock, because stock goes up. stock goes up in part because a portion of everyone’s paycheck defaults to being spent on stocks.
But what you can do with a 401k can be limited. I was looking at my options for something that would be a bit more bubble resistant, back testing them against the crash of the attack on Iran, and every single one of the options my plan allows had market exposure, even if more of them were not directly stock.
Not retiring, 401ks, and some union and public sector pensions. Listed from most common to least common.
There is also social security and Medicare both of which are supplemental pension and health insurance which contributes some for working class people