About that retirement | Arkansas Blog

Thursday, January 29, 2009

About that retirement

Posted By on Thu, Jan 29, 2009 at 6:34 AM

This isn't exactly news, but the numbers make for some sobering reading. It's about the devastation done to 401K retirement plans and how some are eating what's left of their retirement in emergency withdrawals. Consider this not-very-rosy (and implausible) scenario for recovering the average 25 percent losses of the last year:

Still, retirement experts warn that it could take a while for workers to recoup their losses. A $100,000 account that has declined by roughly a quarter can return to its original level in two years, if a worker contributes as much as he or she can to the 401(k) while the employer matches half of that amount and the market gains 8 percent each year, said Steve Utkus, director of Vanguard's Center for Retirement Research.

George Bush wanted to do this for Social Security. Don't ever forget.

 

From the ArkTimes store

Favorite

Comments (9)

Showing 1-9 of 9

Add a comment

 
Subscribe to this thread:
Showing 1-9 of 9

Add a comment

More by Max Brantley

  • Husbands' influence on the vote of women

    Hillary Clinton has been criticized for even mentioning that husbands might have had an influence on the vote of women, who only gave 54 percent of their vote to her candidacy. A social scientist says she might have a point.
    • Sep 25, 2017
  • Marking 60 years since the school crisis. Praise for the Nine and calls to action.

    The 60th anniversary of desegregation of Little Rock Central High School was lavishly recalled this morning with a ceremony featuring the eight surviving members of the Little Rock Nine, former President Bill Clinton, Gov. Asa Hutchinson, Mayor Mark Stodola and many other speakers.
    • Sep 25, 2017
  • Security tightens at Little Rock airport

    Security procedures will tighten at Clinton National Airport this week as the Transportation Security Administration requires separate screening of all electronic devices larger than a cell phone.
    • Sep 25, 2017
  • More »

Readers also liked…

Most Shared

  • Bad health care bill, again

    Wait! Postpone tax reform and everything else for a while longer because the Senate is going to try to repeal and replace the Affordable Care Act one more time before September ends and while it can do it with the votes of only 50 senators.
  • Sex on campus

    Look, the Great Campus Rape Crisis was mainly hype all along. What Vice President Joe Biden described as an epidemic of sexual violence sweeping American college campuses in 2011 was vastly overstated.
  • The inadequate legacy of Brown

    LRSD continues to abdicate its responsibility to educate poor black students.

Most Viewed

  • Security tightens at Little Rock airport

    Security procedures will tighten at Clinton National Airport this week as the Transportation Security Administration requires separate screening of all electronic devices larger than a cell phone.
  • Conway coffee shop apologizes for white supremacist gathering

    A white supremacist gathering at a Conway coffee shop sparks a social media controversy and an abject apology.
  • Mike Beebe weighs in on preserving his private option plan

    Former Gov. Mike Beebe urges Arkansans to call senators to defeat the Graham-Calssidy health bill, which he says would be devastating to the Arkansas economy and the hundreds of thousands of people helped by the Medicaid expansion under Obamacare.
  • Central High at 60: Seize the day mayor. Stand up for LR schools.

    The conversion of a national debate on race is an apt commentary for the 60th anniversary of the Little Rock school crisis and the city's effort to sell it as an occasion to laud progress. Progress would be someone talking about the elephant in the room — the white establishment's takeover of the majority black Little Rock School District.

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation