Wall Street’s interests are hardly the same as Social Security beneficiaries’

Commentary | August 15, 2001 | By John Burbank | Tacoma News Tribune

Thank goodness I'm not retiring now; the stock market's fall over the past few months would eat up more than my contributions. I don't think I have been stupid in my investment choices. In fact, the average 401(k) savings account lost money in 2000. It is pretty predictable: When the market is doing well, most individual investors make money. And when the market tanks, so do our individual accounts. It is a simple law of averages that should make people shiver at the prospect of dismantling Social Security.

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Posted in A Fair Deal at Work, Column, Retirement Security, Social Security