Economist: It Could Take a Decade for 401(k)'s to Recover
By Paul Bedard, Washington Whispers
Moody's Chief Economist Mark Zandi has more bad news on 401(k)'s, halved or worse in the recession. It could take a decade to return to last October's levels, he says. Worse: Zandi is warning investors to expect a return on investments of just 5 percent from now on, down from the old 8 percent guideline. But he does suggest two growth areas: healthcare, because of the aging baby boomers, and education, because of the 20-somethings.
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Tags: 401(k)
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Reader Comments
Where's My Bailout.
The bankers got theirs and the car companies got theirs. When will the government bail out my 401k?
Unless America wakes up...Won't matter
Yep, the way things are heading after the "bailout scheme" fails as they knew it would, we'll have no choice but to nationalize the financial system because if we don't it will be "a catastrophy". Worked last time.
Which will of course include everybody's savings and 401K incorporated into the USSA Social Service Insecurity System. We could then look forward to spending our "golden years" in the warmth of manditory "Community service" in order to earn our government pitance. HUZZAH !
Ain't Socialism GREAT?
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