The folks over at Freedomain Radio usually have a much greater understanding of the philosophy behind and application of theories, including economics and investments. Here are some of the posts in a thread on the 401k scam.
It really is almost a pyramid scheme, but I take issue with allowing an entity to manage my resources without my involvement, which also denies me the ability to opt out once I have decided to cease participation. It's easier trying to pull a bear's teeth out.If you have a choice, don't do 401K. Everyone will tell you it's fantastic for the "tax benefit".
It's really not. When it's all over, whatever you might have saved beyond normal savings rates, will be taken away from you anyway.
If you're in a 401K, get out of it. But make sure you have a good tax accountant when you do.
I have no doubt they are. I just have no idea what sort of service it is. Producing unreadably boring reports and pie charts I suppose. It's like, "Hey tell you what, why don't you put a hundred some bucks every month into a hole in this dead oak tree and at night some elves will come by and take the money. Don't worry, the elves aren't stealing it, they are very good with money and in time they will make more of it for you! Just keep stuffing money into the tree and trust me, I swear the elves have your best interests at heart! By the time you're old and want to retire there will be tons of money there! It's either that or we can have Goblins eat your money directly. Your choice."
Read more at: http://board.freedomainradio.com/forums/p/35255/272773.aspx#272773
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