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Social Insecurity : 401(k)s and the Retirement Crisis by James W. Russell is a nonfiction available to read on EtoBox.

What is Social Insecurity : 401(k)s and the Retirement Crisis about?

How 401(k)s have gutted retirement security, from charging exorbitant hidden fees to failing to replace the income of traditional pensionsNamed one of PW's Top 10 for Business & Economics A retirement crisis is looming. In 2008, as the 401(k) fallout rippled across the country, horrified holders watched 25 percent of their funds evaporate overnight. Average 401(k) balances for those approaching retirement are too small to generate more than $4,000 in annual retirement income, and experts predict that nearly half of middle-class workers will be poor or near poor in retirement. But long before the recession, signs were mounting that few people would ever be able to accumulate enough wealth on their own to ensure financial security later in life. This hasn't always been the case.Each generation of workers since the nineteenth century has had more retirement security than the previous generation. That is, until 1981, when shaky 401(k) plans began replacing traditional pensions. For the last thirty years, we've been advised that the best way to build one's nest egg is to heavily invest in 401(k)-type programs, even though such plans were originally designed to be a supplement to rather

Who reads Social Insecurity : 401(k)s and the Retirement Crisis?

Author

James W. Russell

Publisher

Boston: Beacon Press

Published

2014

Language

EN

ISBN

9780807014707

Category

nonfiction

Subjects

Finance, Business, Economics

Rating

3.73 / 5 (29 ratings)

Updated

2026-03-14