Comments on: Why automatic enrollment in 401(k)s might not always be for the best http://www.bripblap.com/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/ thoughtful personal finance, career and health advice Sun, 05 Feb 2012 07:46:58 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Susan Ciconte http://www.bripblap.com/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/comment-page-1/#comment-15893 Susan Ciconte Sun, 04 May 2008 23:24:59 +0000 http://www.bripblap.com/2007/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/#comment-15893 I have some real issues with employers automatically signing up employees for the company's administered 401K plans. 401K is based on the stock market. And, frankly, that just doesn't sit very well with me. I don't like losing money, and frankly, just don't gamble. So, I live more cheaply and economically. Employers these days, especially in corporate America, don't, as you say, want to be responsible for someone's retirement (like it used to be in the past with good employers who provided defined benefit contributions). Instead, they need to pay their CEOs $50 billion a year. For those reasons, I opt out of these automatic enrollment plans, and demand that the employer opt me out. No employer is going to tell me where and how I am to invest my money, just like no stock broker is going to call me and tell me where I should invest $5000, only to lose $2500 of it within three months. If I am going to lose money, it will be at my hand and no one else's. I have some real issues with employers automatically signing up employees for the company’s administered 401K plans. 401K is based on the stock market. And, frankly, that just doesn’t sit very well with me. I don’t like losing money, and frankly, just don’t gamble. So, I live more cheaply and economically. Employers these days, especially in corporate America, don’t, as you say, want to be responsible for someone’s retirement (like it used to be in the past with good employers who provided defined benefit contributions). Instead, they need to pay their CEOs $50 billion a year. For those reasons, I opt out of these automatic enrollment plans, and demand that the employer opt me out. No employer is going to tell me where and how I am to invest my money, just like no stock broker is going to call me and tell me where I should invest $5000, only to lose $2500 of it within three months. If I am going to lose money, it will be at my hand and no one else’s.

]]> By: Easy Wealth Building, Frugal Tips and Link Love: My Carnival Picks » Money and Personal Finance Blog In Silicon Valley http://www.bripblap.com/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/comment-page-1/#comment-102 Easy Wealth Building, Frugal Tips and Link Love: My Carnival Picks » Money and Personal Finance Blog In Silicon Valley Wed, 01 Aug 2007 14:37:41 +0000 http://www.bripblap.com/2007/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/#comment-102 [...] Why automatic enrollment in 401(k)s might not always be for the best @ Brip Blap [...] [...] Why automatic enrollment in 401(k)s might not always be for the best @ Brip Blap [...]

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]]> By: FourPillars http://www.bripblap.com/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/comment-page-1/#comment-62 FourPillars Wed, 25 Jul 2007 03:02:58 +0000 http://www.bripblap.com/2007/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/#comment-62 I couldn't leave a comment on the right post but I loved the "man on the moon" post. We used to steal larger monitors from cubicles of people who left the company and of course were always afraid we'd be caught. Mike I couldn’t leave a comment on the right post but I loved the “man on the moon” post.

We used to steal larger monitors from cubicles of people who left the company and of course were always afraid we’d be caught.

Mike

]]> By: SavingDiva http://www.bripblap.com/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/comment-page-1/#comment-61 SavingDiva Tue, 24 Jul 2007 19:28:19 +0000 http://www.bripblap.com/2007/why-automatic-enrollment-in-401ks-might-not-always-be-for-the-best/#comment-61 I guess the government is hoping to catch the lazy people that forget to sign up for the retirement plan with this program. I think employers should just do a better job of educating employees on their retirement benefits. I also think that people should educate themselves! However, I doubt that will happen. I guess the government is hoping to catch the lazy people that forget to sign up for the retirement plan with this program. I think employers should just do a better job of educating employees on their retirement benefits. I also think that people should educate themselves! However, I doubt that will happen.

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