401(k) Foe Teresa Ghilarducci, the Most Dangerous Woman in America

This Woeful Woman - T. Ghilarducci's lack of 'Practical Living'

Having just read the foregoing article on 401ks & IRAs, I can't

believe the immature & nonsensical approach this woman has to the present economical "state of affairs". I'm retired from Pa Bell Tel/PA Bell Atlantic/Verizon companies with almost 40 years service. I've never made more than $37,500 (basic wage) per year; however;due to liberal amounts of 'overtime' available

I began 'investing' 2 years into my employment whenever possible (beginning salary of $4,500 per year). In Dec. 1992, at 60,I retired with $151,000 in my BSSP & ESOP investmet plans.

By 1999, my investments had grown to $450,000.In the last 9 years, through additional investments and phenomenal growth of my existing portfolio, it presntly stands @ approximately $1,300,000. Thusly with Social Security and Bell Atlantic Pension (no increase in the past 16 years of retirement), my wife and I are doing well. Did I mention that my present family car, a 1990 Plymouth Van (145,000 miles) is still running quite

efficiently? You see, all we want from the government is to stay the H*** out of our lives! When you get some time, please check what Chris Dodd (Chmn. of the Banking Committe), and Barney (Chmn. of The Oversight Committee) were doing while Alan

Greenspan had given warning to this very predicament, 3 years ago!

Gerry Glendenning of PA @ Nov 14, 2008 18:25:28 PM

Spelling Test

Can you spell "reparations?"

Phil Davis of CA @ Nov 14, 2008 15:54:22 PM

Teresa Ghilarducci

Who is she? Where is she and how can we get rid of her and her communist ideas?

Mr. C of MI @ Nov 13, 2008 23:06:16 PM

Teresa Ghilarducci

Who is she? Where is she and how can we get rid of her and her communist ideas?

Mr. C of MI @ Nov 13, 2008 23:05:40 PM

Why has the Kirby Wilber interview been taken down?

"Spreading the wealth" ... too dangerous a phrase in this post-election mire?

of ME @ Nov 12, 2008 18:27:48 PM

Govt may take your pension anyway...

Argentina in 2001 confiscated ALL of their citizens retirement plans, period. There is NOTHING in place to stop the US govt from doing this - look how they convinced us that we needed the bailout plan - what a disaster

p. favano of CO @ Nov 12, 2008 14:03:21 PM

Professor Ghilarducci ' s Nationalization Of Retirement Accounts

The Professor epitomizes what Thomas Sowell recently noted

about intellectuals : their time in the Ivory Tower doesn ' t

preclude them being foolish . 401-{K} plans have served middle -class workers well , thanks to the availability of common stock mutual funds that dramatically outperform the government securities that Ms . Ghilarducci touts - - volatility be damned . The tax - deferment of defined - contribution plans has also been beneficial in the short term ( every tax return ) while the tax deferment of interest , dividends and capital gains that accrue to one ' s 401-{K} is even more advantageous .

As a 401-{K} investor myself , I wish to state emphatically that I do not want a charlatan the likes of Professor Ghilarducci - - a toady for the Democratic Party and its

Union constituency - - deciding for me and for millions of

other working Americans that we will no longer be able to

set aside upwards of $ 15,500.00 into a tax - advantaged

retirement account wherein WE decide how to invest . In my

adult lifetime I have seen for myself the running joke that

Social Security has become , and heard the dishonest prattle of

apologists ( Professor Ghilarducci , Michael Moore , Paul

Krugman , Marie Cocco ) for President Roosevelt ' s Boondoggle .

Now , a " Guaranteed Gpvernment Pension " to operate parallel to Social Security ? To " supplant " my 401-{K} ? Seems the

Professor expects to manipulate working Americanss ' squeamishness about stock market corrections , to secure their support for yet another supplemental annuity

that realizes a puny return on investment and will be a bitch to fund via payroll taxes . Count me out .

T . D . Tamny of CA @ Nov 12, 2008 01:10:49 AM

Typical Socialist

Her ideas are based entirely on punishing the successful to reward the less successful. She apparently believes that the less successful are somehow entitled to the same quality of retirement life regardless of how much time, effort, sacrifice, etc., the successful have put into improving their lot.

Rob of AZ @ Nov 11, 2008 12:20:02 PM