The Great 401 (k) Hoax

The Great 401 (k) Hoax

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The American public was hoodwinked: 401(k)s were established to satisfy corporations, not the interests of working Americans. Portrayed as a perpetual wealth machine, the 401(k) was meant to satisfy the needs of every employee. Yet, it was an impossible promise to fulfill: It was the great 401(k) hoax. According to William Wolman and Anne Colamosca, this was the latest act in the gradual erosion of the nation's retirement system. Drawing from reams of historical and contemporary data as well as economic, social, and political trends, they reveal the system's troubled 100year history. Beyond exposing the hoax, the authors urge everyone to take charge of their investment portfolio and recommend strategies for beating Wall Street at its own game. Timely and incisive, The Great 401(k) Hoax is guaranteed to inspire debate and action-from the water cooler to the boardroom to the voting booth.Why Your Familya#39;s Financial Security Is At Risk, And What You Can Do About It William Wolman, Anne Colamosca. The record of the 401 (k) shows that it left most Americans grossly unprepared for retirement after two decades of stock market boom. And the problem can only ... Even if older workers get new jobs, very often those jobs pay less and are sometimes temporary. Those who start their ownanbsp;...

Title:The Great 401 (k) Hoax
Author:William Wolman, Anne Colamosca
Publisher:Basic Books - 2003-04-03


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