TITLE

'Honey, I Shrunk the 401(k)'

AUTHOR(S)
Lee, Shelley A.
PUB. DATE
January 2003
SOURCE
Journal of Financial Planning;Jan2003, Vol. 16 Issue 1, p17
SOURCE TYPE
Academic Journal
DOC. TYPE
Editorial
ABSTRACT
This article relates the experience of the author wherein she mistakenly mismanage her retirement account. The author failed to diversify her account. The young man who was helping her with the reallocation of her retirement plan suggested that what she was doing would have given her a little more protection on the downside. But she did not follow his suggestion. The 401(k) has come under attack. Besides market risk, 401(k) are flawed in other ways that make them undependable as the foundation of a retirement plan. Fortunately, the Pension Benefit Guarantee Corp. insures these pension plans, should the firms go bankrupt. But the company's surplus has shrunk. The agency was paying the pensions of 268,000 retirees at the end of fiscal 2001, a number estimated to now be close to 400,000.
ACCESSION #
16938995

 

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