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re: 401(k)s are too risky for retirement
Posted on 5/9/12 at 7:56 am to LSUGUMBO
Posted on 5/9/12 at 7:56 am to LSUGUMBO
quote:
My wife just sold 1 of her 3 businesses and we have been looking to use the profits from the sale to buy commercial property for 1 business instead of paying ungodly rent. So we haven't put anything away into 401(k) yet and I started wondering if we should abandon them all together and look for alternative investments, like businesses and commercial property.
I definitely don't think a 401(k) is the "be all, end all" of investing. It's just a way to tax shelter several different methods of investing. Investing in your business can be an excellent path to retirement (but probably shouldn't be your only one). However, what the author proposes is having the government save us from ourselves and create some type of guaranteed pension. By the way, haven't we had something like that since the 30's? How'd that work out?
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