minus-squaresudoshakes@reddthat.comtoUnited States | News & Politics@lemmy.ml•Despite nearing their 60s, nearly four in 10 Americans heading towards the end of their careers don’t even have a retirement accountlinkfedilinkarrow-up6·27 days agoNo generation has retired on 401Ks to prove it works generationally. (It won’t) The passive income to companies that manage 401k plans is the reason it will not change. Fidelity investments had 3.5 TRILLION in assets under management when I was there years ago. They take in money passively doing nothing but automatically redistribute it year over year for a target date fund. It’s a scam to the tune of billions a year and we do Notta. linkfedilink
No generation has retired on 401Ks to prove it works generationally.
(It won’t)
The passive income to companies that manage 401k plans is the reason it will not change.
Fidelity investments had 3.5 TRILLION in assets under management when I was there years ago.
They take in money passively doing nothing but automatically redistribute it year over year for a target date fund.
It’s a scam to the tune of billions a year and we do Notta.