I Confess I'm not contributing to 401k plans either to due to the complete lack of transpency and continuous push of these programs by slowlane advisors who profess its "free money" and there implication that retirement will be a breeze with the few grand a year allowed in their plan.
What troubles me is that the government can do whatever it likes with the taxes/rules on your 401k long before you'll get near it. I have 20+ years to go until I'd be able to withdraw without fees and I'm sure by the time I reach 65 the government will have raised retirement age nearer 70.
So I choose to invest in places where I know exactly what I'm buying and can see/touch the assets. All those poor bastards that retired in 2008 will die long before they see their contributions let alone any compounded interest or tax benefits. Meanwhile the fund managers are driving around in bmws on the fees they collected.
My 2cc
What troubles me is that the government can do whatever it likes with the taxes/rules on your 401k long before you'll get near it. I have 20+ years to go until I'd be able to withdraw without fees and I'm sure by the time I reach 65 the government will have raised retirement age nearer 70.
So I choose to invest in places where I know exactly what I'm buying and can see/touch the assets. All those poor bastards that retired in 2008 will die long before they see their contributions let alone any compounded interest or tax benefits. Meanwhile the fund managers are driving around in bmws on the fees they collected.
My 2cc
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