This is true, and the government is making this statement as well.

All too long, too many people have relied on the company they work for to provide for their retirement primarily through a 401k.  However, as more and more business are looking to increase shareholder value, they have to cut back on some of the benefits they provide to their employees.

It’s apparent that the government has known this for quite some time.  From the advent of the IRA, to the Roth IRA, and now the Solo 401k, the government is providing these other vehicles so YOU can save for your own retirement.

I don’t think businesses should be responsible for the retirement packages of their employees either.  If they don’t want to offer it, then a employee (or potiential employee) needs to take that into consideration and either choose to work with the benefits that are offered, or find another position with another company.

Anyhow, why would you rely on your company to provide for your retirement?  Look at the people who relied on Enron and WorldCom with their retirement savings, they lost it all when their businesses folded under.

Take advantage of the retirement tools that the government is providing for you.  Heck, abuse them to their fullest and take charge of your own retirement.

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This entry was posted on Thursday, June 14th, 2007 at 5:59 pm and is filed under Management, Business Thinking. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.