On December 14, 2012 we said, in Unions - some thoughts, that: If people who work hard for a living can't make a decent life, then we have
lost America. Jon Stewart raised another aspect of this problem the other night.
His point was: Since we are abandoning fixed benefit retirement plans (pensions) the everyday guy is more and more facing the necessity of dealing with a 401 K (a retirement plan in which you put in money and your employer puts in money and the account belongs to you.) If the account runs out before you do, then you do without. Stewart's point and concern was that this makes it incumbent upon regular folks to become acquainted with long term financial instruments (other than home mortgages) and that is unfortunate.
Perhaps we could create an independent agency which could operate for the government and the people a collection of relatively safe invesment tools.
