Biden’s new 401(k) rule threatens to funnel workers’ retirement funds into ‘woke’ causes

[meketrefe]

Some will respond and take pride in their vote.

Most will not.

I vote but do not take much pride because the current Democratic regime is broken.

Election is a skill that requires objective well educated voters and not an simple subjective intuition.

Democracy has certainly some advantages but also leads to some pretty bad situations that arise from it if not carefully managed.
Socrates described this in Plato's dialogues that showed how the same way that Democracy is born from Oligarchy,
if we are not careful, then Tyranny can be born from Democracy that is what we have been experiencing for
quite some time with both Democrats and Republicans parties in control.

 

[Blimey]

That is why I am asking. The fact that some might not be aware of a better alternative it doesn't mean there isn't one.

An example, the Amish are 100% fine with not having insurance. I know it is a extreme yet...

About 25 years ago I started a 2nd alternative plan in a different country in a different continent. It is not huge but it is not bad. It will allow me to carry on.

How many people will actually retire in the USA given they are going to be subjects to fiscal abuses?

I am not asking unreasonable questions specially considering where the democratic regimes are going.

What realistic things can people do to avoid being exposed to the government sponsored organized-crime-like schemes?

Everything can change from one day to the next. Currency suddenly worth nothing, assets can be expropriated, etc...

seriously

I used to be sure I'd retire in the USA but I cannot say that anymore with certainty. But my 401k has international exposure through domestically-owned companies that have international business and through internationally-owned businesses. I am heavily domestic, though, because I believe the USA will continue to exceed the rest of the West in returns, as it has done for so long.

401k, IRA, etc. are still the best retirement path. There may be others that produce more rewards, but they often invite significantly more risk or work (e.g. building a small empire of properties). The stock market has returned ~6-7% after-inflation gains year after year for a century or two when taking a long enough time horizon (which flattens out the bear years with the bull). 401k lets the average person become wealthy. The only reason the average person doesn't is because so many cannot delay gratification (e.g. spending all they make), or they are fearful of stocks ("it's a rigged casino!"). There are no shortage of people who have no real plan for the future telling those who have one that their plan sucks--even as the plan is panning out.

I am curious if anyone actually read the story and the proposal?

I did, I am not at all agreeing with it, just wondering how many understand it?

The change allows plan administrators to make different offerings--in reversal of a change Trump put in. So it's not like through history financial return was the only consideration and now it won't be. I imagine some plans will not respond to this whatsoever, and others will add more offerings without changing core offerings. Anybody who thinks a 401k (most of which have a simple S&P 500 fund, for example) is going to suddenly offer nothing but funds consisting of algae farms and solar is worrying without cause.

 

[Blimey]

seems we are returning to the Obama days.

Trump in office - he didn’t have anything to do with the market improvements!

oh look. Sleepy Joe is making a difference!

My post was tongue-in-check. People still don't get it. It doesn't matter. Anybody who thinks "their" guy is good for stocks and the other isn't are historically misinformed.

Don't take diet advice from fat people and don't take investing advice from those who don't do it (but notice they are never bashful about giving it).