A two-income American family with an average income that dutifully invests in a 401(k) plan using typical strategies will lose $155,000 – or about 30 percent of what they should have saved for retirement — to Wall Street fees, according to a study by an economic justice advocacy organization.
The Demos study, released last month, is just the latest in a long string of research showing 401(k) plans are a better deal for Wall Street than for you. Many show that people lose about one-third of their retirement money to fees that they don’t even know they’re paying. The actual lifetime impact of fees is a matter of widespread debate, but it shouldn’t be. In one dramatic example, John Bogle, the inventor of index funds, demonstrated how fees can consume 80 percent of an investor’s money through something he’d dubbed “the tyranny of compounding fees.” (Click on the link to see his proof.)
Bob Sullivan
Ahhhhh….. the beauty of an unregulated free market!
Monthly Archives: June 2012
More “Not-so-Funny” Reality
Progress……Republican Style
A UPS Driver Claims The Shipping Giant Made Him A Gang Target
A UPS driver is claiming he had a mental breakdown after witnessing a gang execution during his daily route. Even worse, he claims UPS ignored pleas to relocate him even after it became known the gang was seeking information about him. California resident Sergio Cervantes was in the middle of his route when he saw a gang execution that left one man dead, Courthouse News reported. In his lawsuit, Cervantes alleges he held the man as he died, making him a target of the gang members responsible for the shooting. The same gang members also approached Cervantes’ fellow drivers, asking where Cervantes could be found, according to Courthouse News. Cervantes said he was diagnosed with post-traumatic stress disorder and claims he asked the company for a different route. But, according to Cervantes’ lawsuit, the company was unresponsive and often ignored his requests. In an email to Courthouse News, UPS spokeswoman Susan Rosenburg said employee safety is “paramount” to the company.
“Corporations are People My Friend”
Bingo
Losing Your Job with Style
Fox “News”= Corporate Propaganda Machine?
From Preload Supe to the national stage
Many of us banged heads with Heather Poe when she was preload supe on boxline 7 at the Commerce City building in Denver. Now she’s married to long time lesbian partner Mary Cheney. “Very happy to announce that as of this morning, Heather and I are legally married (at least in DC), 20 years to the day after our first date,” Mary Cheney posted on her Facebook page. The former vice president and his wife, Lynne, were “delighted,” according to a statement provided to The Daily Caller.
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Mary Cheney, daughter of former Vice President Dick Cheney, and longtime partner Heather Poe have married in Washington, D.C., the family confirmed on Friday.
Poe and Mary Cheney have two children, a son and daughter born to Cheney.
MSNBC
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Funny how the Republicans embrace gay marriage when it’s their family, but want to deny the right to everybody else. Can you say… hypocrites?
Tell Us How You Really Feel
This pretty much hits it right on the head….
Employee horror story from Complaints Board