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.)
Ahhhhh….. the beauty of an unregulated free market!
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.Business Insider
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.
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.
“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.“Mary and Heather have been in a committed relationship for many years, and we are delighted that they were able to take advantage of the opportunity to have that relationship recognized,” the statement said, according to the Caller. “Mary and Heather and their children are very important and much loved members of our family and we wish them every happiness.”
Poe and Mary Cheney have two children, a son and daughter born to Cheney.
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?
This pretty much hits it right on the head….
Employee horror story from Complaints Board
I have been reading many of the complaints that are included in this site and would like to share and sympathize. I worked for UPS from 1985 until 2002 as a delivery driver. UPS changed dramatically after the death of its founder Jim Casey in 1987. From that day forward nothing mattered to management other than the almighty dollar. Customer service is a joke. Employees are treated like slaves. Working conditions are third world at best. UPS had a solid reputation during the late 80’s and early 90’s but there was a dramatic shift to the bottom line at all costs. Early on management was promoted from within but as all companies move toward a lower wage this trend stopped. This is by far the worst place I ever worked in my life. Supervisors who are in way over their heads is the norm. Safety is a afterthought. Most centers need to be audited by OSHA. But employees who speak up or take action are targeted for suspension and termination. Work weeks of 55+ hours for drivers is a regular occurrence. Let me explain in detail. As a driver you could start work at 8:30am and will not be off the street until 9:30 or 10:00pm. Fatigue is commonplace. During my time I nodded off routinely when I was driving. Safety at UPS is a smokescreen. Prozac is taken like candy by drivers, divorce is ramped, hypertension is common, production levels are unrealistic, management is unskilled and combative, and injury is considered weakness and lazy. I spent 17 years at this “hell hole” and was paid very well for my services. But I came to the realization that it was just not worth it. I quit and am happier for it. Most complaints that you may have are a direct result of a poorly managed company where stress is used as a tool for greater production, no matter what the cost to employee or consumer.