I have been thinking about income inequality and the shift to a defined-contribution (401k) retirement system over the last 35 years. It is my opinion that this shift is going to create a huge crisis in the next 25 years. While wages have been stagnant, employees have been given full responsibility for their own retirement savings and employers have been completely absolved from any responsibility for helping. Many people have no retirement savings or retirement savings that are completely inadequate. Those who do save enough are forced to save way too much in order to plan for a retirement period that is uncertain. I have been reading Michael Lewiss book Flash Boys and thinking about these issues. Your thoughts?
Posted on: Wed, 15 Oct 2014 12:35:20 +0000
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