{ "media_type": "text", "post_content": "We have it worse than our parents. No real pension( defined benefit plan) which pays you an amount per month til death. 401k are at risk of the market.. while ceos and partners....make millions", "post_id": "5a0a62f5a4cb6e00177bced5", "reply_count": 15, "vote_count": 5, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

We have it worse than our parents. No real pension( defined benefit plan) which pays you an amount per month til death. 401k are at risk of the market.. while ceos and partners....make millions

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My grandfather collected his pension for 40 years, but only worked for 30. That's a sustainable system if I've ever seen one.

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We are worse off generationally, but my wife and I are first/second generation immigrants and we are definitely better off than our parents because we were able to build off both our and their hard work!

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We are worse off because we are stuck paying your parents' pension right now. Pensions are basically making those that come after you pay your bills.

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Most of our parents don’t have pensions either

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Commie

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Take part of your 401k and buy an annuity. That way you have some definite set income. Although most people say you can always do better with other investing strategies than an annuity...my pops retired at 57...bought a monthly annuity for like 200k of 1,500 a month for life, if he dies my mom gets it..if she dies then we get whatever is needed for him to break even on the deal (so if the annuity only paid out 150k then we get 50k) it's not a lot per month but it's not subject to market fluctuations. But he also has a defined benefit as well of 60% of his last 3 years salary on top of his 401k so he had it made. He was a Special Agent for Homeland Security...government jobs have good retirement benefits. Thinking of applying to FBI actually myself. They love hiring CPAs

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The working class (blue collar workers) is worse off than they were 30 years ago but accountants on the whole are doing as well as they were back then...although paying for health insurance is a massacre that wasn’t such an absurd cost back in the day.

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lol I'm good. I've never even had pot. I like to drink socially but that was as far as I ever went

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You have a pension. Granted it’s probably not as good as your parents, but still.

You could invest your 401k in mutual funds and not see sufficient ROI to keep up with inflation. That’s almost certainly safe. Honestly you make enough now that you should be able to (assuming a 40 year career) buy enough income real estate to sustain you in retirement (lack of social security income and pension aside).

My parents made terrible decisions and continue to pay for them. I definitely have it better than them.

Liberal fascism !!

It's the baby boomers that are really to blame. They have ruined the economy, environment, and politics. We're the ones left to pay for their pensions as EY3 correctly pointed out.

^ preach. And, statistically speaking, our generation isn’t having children and the baby boomers are close to passing. That will have a significant effect on the economy. Less consumers = less demand. Prices will come down to meet new demand and the stock market will tank. I’m guessing in our 40s.

^they don’t want you to have ever done drugs which is tough because Nancy Reagan planted the idea in my head (just say no!)

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