US Loses AAA Credit Rating After S&P Downgrade

[AVGWarhawk]

Originally Posted by Armistead

401's were never meant to be retirement plans, but later laws reworked that allowed them for the lower classes. Basically giving big stock companies a chance to thrive off your buck. You might make money, you might lose it all, scary way to plan retirement as many have found out.

Then what do we have? IRA that companies do not offer. Pension plans? Not one the table anymore. However, companies will sponsor a 401k retirement program. So never meant to be a retirement program means nothing. It has become one! Either way the potential to loose any gains is present. Even the potential to loose the original investment. It is unfortunate the USA allows this type of risk taking on a retirement plan but provides very little help to the individual when the market goes belly up. We get an answer of better smarter investing next time. As for me, my portfolio is set up for conservative investing and monies spread over several options and a few in foreign funds. In short, diversified. This helps in situations like this but I still take some what of a beating. I think I might start hiding cash in the mattress!