Mar 30
2010
Retirement - 401(k) - Where Did All The Money Go? Looted!
Filed Under (Investor News) by Admin on 30-03-2010
[This post is written and copyrighted by FIRE Finance (http://firefinance.blogspot.com).]
What on earth are you talking about?
In recent months we came across some disturbing news about 401(k) accounts getting looted. Imagine this: You are about to retire in few months. You and your wife have made plans for some dream vacations that you always wanted to take. Then one fine morning you wake up and check your 401(k) account balance and discover it to be zero, nil, zilch!!!
For many it would be as devastating as the crashing of the whole world. All of your savings of over several decades of hard work and diligent investing, countless sacrifices made to ensure a financially secure retirement - all gone just like that. It is shocking to say the least.