Many people are forced to start multiple streams of income to support their retirement funds, in many cases, because stock investors used clever schemes.
Mutual funds were moderately successful until the advent of the investment retirement account and in particular the 401(k). Corporate insiders persuaded the federal government to allow for the 401(k) in lieu of offering employees the traditional pension.
When this happened the employees lost the protection of a specialized financial manager who could manage. The 401(k) FORCES individuals into mutual funds that are notorious for defrauding the public of its savings.
Ironically, the company has corporate attorneys who do nothing but invent new ways for corporate insiders to suck money out of the firm in the form of perquisites, stock options, and golden parachutes.
Why is this so tough on the employee? The 401(k) plans do not offer individual stocks only mutual funds. What a scam! Corporate executives have forced you to place your retirement dollars with their cronies in the securities industry who manage the investment pools.
Does that mean the 401(k) is a bad deal? That depends. If your...
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