Posted on 03/26/2024 6:43:23 PM PDT by RomanSoldier19
In his annual letter to shareholders, Fink called the decreasing ability to retire in a financially sound way one of the biggest economic challenges of the mid-21st century. "Today in America, the retirement message that the government and companies tell their workers is effectively: 'You're on your own,'" Fink wrote. A federal law that will require employers with 401(k) plans to auto enroll new workers provides a bright spot, he said.
(Excerpt) Read more at msn.com ...
President Bush tried to fix it, but the Democrats would not let him.
By crippling the economy for older, experienced workers (especially white Americans), they forced many during COVID to retire earlier than planned because they had little other choice.
It’s stupid to quit cold turkey. Retirement should be gradual with fewer hours as one gets older-be more useful. It would put more onus on a worker when he’s younger with more piss and vinegar. People turn on family members knowing they’re not needed as much.
Larry Fink is living proof that Soros dying won’t help a thing.
It’s always been a scam
Take your money for 65 years and then tell you to go away.
Someone on one of our sites said it will have to be done after an election and the voters left out. During the political season it becomes full of lies. Bush did it after but 52 senate seats was not enough.
Fink wants a law to force Employers to provide 401Ks Betcha Blackrock would make a few bucks on thar Federal Mandate.
Because thos 401(k) assets will be held by Larry/BlackRock.
We are giving illegal aliens not less than $65,000 cash and countless dollars well past that while giving social security recipients an average of $20,000.
Social security is not in jeopardy.
I think it is 62.5 yr. old.
but of course our nation has all kinds of ‘free money and services’ to pay $390,000 to every illegal in NY per year!
How abt we stop giving SS to those here illegally who never paid into it.
For rotten pencil pushing autocrats like Fink, 65 or 75 or 85 is too young. For a physical job, reaching 65 is a feat
And stop giving SS DI to those who are not actually permanently disabled and not unable to work.
Some people act like Social Security becomes some sort of ‘special’ crisis because it will not pay for itself by year 20xx (pick a year).
Flash news. Government spending is unsustainable. Coming soon - $1T annually just to pay the interest on the debt. At least Social Security brings in some money via workers and companies.
They will just continue to finance more debt to pay for SS and everything else. No one can do much about this runaway spending.
True current story: I work for a well known US firm. Blackrock eventually won a bid from us to take over our retirement plans as we grew and offered a couple of plans to our employees. During the Biden admin, these Blackrock plans performed negative 30-40 percent as they invested our retirement in ESG. It was so bad employees of the firm filed multiple lawsuits and we had to take corrective actions.
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