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Reply to "Should 401ks be phased out? "
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[quote=Anonymous]You got to hand it to Boomers - cheap college, last generation with meaningful participation in defined benefit pensions, benefitted from tax advantages of newly created IRAs and 401Ks at the beginning of their professional careers, got the "peace dividend" of end of Cold War which led to multiple bull runs, multiple tech booms, long periods of accommodative monetary policies to fuel asset accumulation, and 40 years of supple side tax cuts. And now - as they enter retirement en mass - they are benefitting from the highest risk free rates in 30+ years. If you're a white Boomer without a disability/mental illness and don't have a net worth of at least $2.5M I really do question what the hell you were doing with your time over the past 50 years.[/quote]
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