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Pensions are very uncommon in modern America. 401(k) investments, on the other hand, are available and pushed heavily onto nearly everybody with a white-collar
by pwinnski 7y ago
Pensions are very uncommon in modern America.
401(k) investments, on the other hand, are available and pushed heavily onto nearly everybody with a white-collar job. And 401(k) investments are stocks. So a huge percentage of people hold stocks, or at least funds which contain stocks.
- perl4ever 7y agoWith a government job, you may have a pension and a 457b plan, which is much like a 401k. It's often mentioned that one of the biggest investors in the US (and I assume the world) is CalPERS, which manages pensions for California state employees. You may not be particularly in tune with the stock market just because you have a state pension, but indirectly it matters to you.