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Anyone else around here that does not have a pension account? On the basis that technology will have changed the economic system (for good or worse) in such fu
by kasperni 10y ago
Anyone else around here that does not have a pension account?
On the basis that technology will have changed the economic system (for good or worse) in such fundamental ways so we either have greatly expanded life span, "free" handouts such as basic income, or major financial busts that have wiped out most pension savers.
- oddsockmachine 10y agoI have no pension account. My first software job was with a pensions administration firm, where I had to take numerous courses on the economics behind pensions. Boring stuff, but the one thing that the teachers drilled into us over and over was that, for my cohort (currently <30yo), pensions would be a waste of our money - with the exception of the few "gold-plated" ones still offered by certain employers. If anyone's interested, I have instead chosen to aim for the so-called Lean-FIRE, and my "investment", if you can call it that, is in fertile land in a stable country and extensive experience in permaculture. I'm about 5 years away from being able to semi-retire and being reasonably self-sufficient in food, power and water.
- rpwilcox 10y agoI would ask the inverse: anyone around here have a pension account? When I joined my current company I was given an option to join the pension (maybe the last year it was offered to new people??). I didn't take it for a couple reasons: 1. figured I probably wouldn't be here for 30 years (!!!!) 2. Stories of rampant pension mismanagement scare me off. (Reasonably sure it wouldn't happen with my employer, but...)
- awinder 10y agoJust to clarify on #2, it doesn't even have to really be in your employer's control. One of the biggest sales targets of mortgage-backed securities prior to 2008 were pension plans, they were AAA-rated securities.