News Column

Retirees: Lucrative 401k Retirement Plan, American Companies Set Bad Example

September 4, 2014



Category: Baystreet Newswire

Company: TRR

ID: 419906

Date: Thursday, September 04, 2014

Irvine, CA / ACCESSWIRE / September 4, 2014 / The students are back in school and the financial burden of college expenses is once again felt by a lot of people. Retirees, on the other hand, have something else to worry about: Funding their Retirement Needs. An American investment company that is located at California, Orange County, has revealed that American workers are angry and totally frustrated at Blue chip companies that don't provide the most lucrative retirement benefits perks, and many workers say they feel unsecured about their life expectancy. The findings are gleaned from more than three months of on-going discussion and debate at the TradeRushReview.us.com. According Bill Achola the president of TradeRushReview.us.com, frustration and bitterness towards the Blue chip companies runs deep, particularly among the potential workers who have 401k retirement plan. The spokesperson of TradeRushReview.us.com, advises that if an American worker wants a lucrative retirement benefits then, they should consider working on an oil rig company. Most of these companies offer a generous additional contribution and they can add up to 19% of employee compensation at the end of the year no matter what employees saved in their accounts. BrightScope Report that analyzed some 3,500 company 401(k) plans with at least $100 million in assets revealed that Lawyers, oil and gas workers and airline employees have some of the best 401(k) plans in the country. From the 401k research which was done by Peggy Collins of Bloomberg News, Peggy spent six good months researching company filings and came up with a list of the best, and worst, company 401(k) plans as below: Companies with favorable 401k plan - ConocoPhilips, a Houston oil and natural gas producer - Philips Morris International - Amgen - Boston Scientific - Caterpillar Companies with unfavorable 401k plan - Google Inc. - Amazon - Facebook - Oracle - Whole Foods "I was surprised and shocked by the level of frustration expressed in this debate," Doreen Agwata said. "American workers are far more clued into this issue than most people would imagine. ''She goes on to say that, ''If an American worker wants to have a stress free life expectancy or frugal retirement budget then, the workers should properly plan out their 401k retirement plan.'' In a study conducted by Cerulli Associates in Boston, retirees are starting to move funds from their 401K to Self-Directed IRAs, with a total value of a little over $320 billion transferred in 2013. Furthermore, the research firm estimates that this will reach the $500 billion level in about 5 years. Part of the movement in retirement investments are transfers to Gold IRAs. This trend comes from the continued confidence of financial experts in the power of gold. For many years, gold has proven its ability to outperform all other investment instruments even in dire economic circumstances. As J.P. Morgan said in 1912, "Gold is money, everything else is credit." The process of retirement planning does not necessarily stop when a person files his retirement papers. In a USA Today article, the importance of retirement planning and investing was emphasized by MetLife Solutions Group'sJohn Bucsek. According to him, the four phases of retirement are: - Having enough money to retire - Having enough money to stay retired - Having enough to protect yourself against long-term care - The fourth is transitioning your assets as orderly as possible. The President of TradeRushReview.us.com advises that, regardless of age, any American worker who wishes to accumulate a substantial retirement fund should first consider his/her life expectancy. This is essentially the number of years he expects to live. This will allow him to make accurate projections as to the amount of money he needs to have to live a decent life during his retirement years. Making wise projections on future financial needs using a retirement financial planning kit is important so that the right investment decisions can be made for successful fund accumulation. A more aggressive investment stance when it comes to the 401K retirement plan is necessary if investors are to maximize the earning potential of their investment. About Traderushreview Get expert advice on IRAs and investment news at http://traderushreview.us.com/ira-gold-rollover. It would be a big mistake to ignore the importance of retirement planning and investing. Investing wisely today is the only way to have a secure financial future. Contact 372-467-2431 Source: Traderushreview


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Source: ACCESSWIRE (Canada)


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