The economic mess proves one thing, and that's those so-called 401(k) plans were not what they were all cracked up to be. They were being sold as a way to get rich quick, and never mind they were completely inferior to defined-benefit plans (traditional plans). The scheme was based on saving companies on pension costs, not on helping employees become secure in retirement.
It was a giant con. I have been saying this for probably 15 to 20 years these do-it-yourself plans were scams.
Midlife workers are coping with being screwed over on pensions.
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Crater Lake National Park Photos 1
Here are a few pictures I took at Crater Lake National Park in southern Oregon today, including a couple of them from the historic lodge:
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Golden Tempo has won the 152nd Kentucky Derby. Jose Ortiz is the jockey. It is his first Derby win. This race is historic, for the fir... -
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Napoleon Solo has won the 151st Preakness Stakes at Laurel Park. Iron Honor tried to make a bid at the homestretch, he couldn't quite c... -
Another victory for Golden Tempo as he has won this year's Belmont Stakes at Saratoga. Cherie Devaux has won a second leg of the Tripl...
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