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Reply #7: If they can't afford to contribute to a 401k, they can't afford to stash money in ordinary savings [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010)

slackmaster

(1000+ posts) Send PM | Profile | Ignore

Sun Jan-11-09 01:09 PM
Response to Reply #6

7. If they can't afford to contribute to a 401k, they can't afford to stash money in ordinary savings

I just reduced the withholding rate on mine from 18% to 12%, because I haven't had a significant pay increase in five years and am concerned about a lack of cash on hand.

We are all in the same boat. If employers can't afford to give out raises, they can't afford to fund a "traditional" type of retirement account (e.g. Defined Benefit plan).

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