posted on May, 27 2009 @ 11:19 AM
Way back 20 something years ago I remember working at a company that had just gotten large enough to get 401k offered to it's employees.
I remember being packed into the conference room and a group of bankers whom I had never met before had a presentation about 401k's I sat and
listened to their presentation and then was handed a form to fill out so I could have money deducted from my pay check to go into the 401K.
I passed on the offer because I did not understand where the money was being invested. When I asked my Father who is an accountant he told me it was
being invested in large fortune 500 companies like the DOW group.
Yesterday it dawned on me, nearly 20 years later that the investments of everyones money in these fortune 500 companies was a scam. I always felt that
by investing in a company you were showing confidence in the company. But when a banker sells you on a 401K and gets to play with your money and
invest in companies with out your approval it is a manipulation of the market. The money from millions of people gets tossed around like a gambler in
las vegas who has 2 girls on his arm and a tall glass of scotch. They dont care about the peoples money they only care about making a profit. Well I
guess that is the American way, but to me it is the destruction of the free market and the destruction of America.
I remember the old saying, "if its to good to be true, then it probably is" Well any time someone tells me that they will provide a retirement fund
to me for only a few dollars a week, that to me is a scam. For some reason though the 401K and many other retirement investment programs are widely
accepted as the standard.
In reality the investment of money in companies should be a personal investment done after research and building a confidence in the company. It
should not be handled by bankers in a mutual fund that can go belly up. I prefer to keep my money in the bank where it gains a small amount of
interest, and at any time I can take it out and secure it. It may not gain as much value as some of these scammers offer, but at least I know it
can't go down in value and I can get it out in less than 5 min.
[edit on 27-5-2009 by robwerden]