401ks: Ticking Time Bomb
401ks: Biggest Bank Robbery Ever!
In 1980, the average 65-year old had almost $300k in corporate retirement. Today, $100k in a roller-coaster 401k worth only $30k in 1980 buying power. Middle-class lost 90% of savings, pensions and retirement.
In 1980, top 1% owned 20% of US assets. Today, over 60%. Did the 1% earn or create wealth? Or, transfer wealth via 401ks, stock options and IPOs?
401ks: A social, economic & political ticking time bomb