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What's a scam that's so normalized that we don't even realize it's a scam anymore? (lemm.ee)

submitted 1 year ago by mastermind@lemm.ee to c/asklemmy@lemmy.ml

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[-] flossdaily@lemmy.world 23 points 1 year ago

401k plans are a scam not because of what they are, but what they replaced.

Companies used to offer pensions. These were retirement benefits that were handled by the company, and the company bore the risk of underperforming markets.

For a number of reasons, pensions were much better for workers. Now, only some unionized workers get them.

[-] grayman@lemmy.world 1 points 1 year ago

There's so much inflation these days that pensions are impossible unless the pension money is invested to keep up with inflation. So it's the same thing at best out a worse option.

this post was submitted on 20 Aug 2023

703 points (96.8% liked)

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