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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 234.70-1.2%Nov 14 9:30 AM EST
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To: Skeeter Bug who wrote (112871)12/17/2000 1:51:09 PM
From: Mama Bear  Read Replies (1) of 164684
 
"401ks used to offset the negative savings"

I think one point many miss when thinking that 401k's replace savings is that they are really replacing defined benefit pensions. Folks used to be able to count on a steady stream of income from their employer when they retired. So if I saved 10% of my income over and above that I was saving. Now if I put 10% of income in the 401k and it's just replacing what would have been an income stream from the employer

I'm not saving unless I'm putting aside another 10%. OK, that's not the clearest explanation but I hope you get my meaning.

Regards,

Barb
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