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Naive Man Puts Money Into 401(k) as if Future Exists (thehardtimes.net)

submitted 2 weeks ago by [email protected] to c/[email protected]

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[–] [email protected] 1 points 1 week ago* (last edited 1 week ago)

Perhaps but my years working for various companies that offered pensions with substantial vestment periods but which I didn't stay at for long enough to get are wasted, because pensions usually take 10+ years to earn, whereas if I'd had 401k contributions with vestment periods usually around 1.5-5 years I'd have a decent little bit of money from those that could have grown.

Now I have the best of both worlds where I get a defined contribution of 10% on top of whatever I earn added to my 401k with just a few years to vest.

Pensions only pay out if both company and employee are a type of loyal that is simply not common anymore.