Re: [Marxism] 401k's gone forever?

["farmelantj@xxxxxxxx" <farmelantj@xxxxxxxx>]

I think the answer to that question depends on
when one expects to retire.  Assuming that
one's 401Ks are mostly in mutual funds, then
if one retires now or within the next few years,
you're probably going to be in deep doodoo.  If you
don't expect to retire for another ten or fifteen
years, then it might be quite a different story.

Just imagine if Wall Street had gotten its way
with the privatization of social security.

Jim F.

-- Louis Proyect <lnp3@xxxxxxxxx> wrote:
Sky Keyes-Vogt wrote:
> quick question:
> 
> I heard a lot of people say that their 401ks were gone, that they "didn't
> want to look," etc... and i was wondering if since the market rallied would
> this put money back in their 401k's or is the money gone forever, is it on a
> case by case basis?

If you had your retirement plan in a mutual fund, as most people do, you 
have lost 25 to 30 percent of your money. If you had it in CD's, T-bills 
or other fixed interest securities (as I did), you are okay. Of course, 
the mutual funds might come roaring back as they did after 1987 but 
things don't look that propitious right now.

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