That sucks. I work for an American company and I have to have mandatory pension contribution. I only put in 3% of my salary to it and stated I want them invested into medium risk funds.
I don’t trust company pensions to be my sole source of retirement funds, and so I started my own investment portfolio. Even though I know US companies are more profitable, but with the way things are going, I limited my investments to select few US companies and I plan to invest more on Asian and European stocks.
I’m so glad my 401k is going to vaporize because it’s mostly tech companies.
As an ignorant non-American who doesn’t know how 401k works, could you not redirect where your investment/retirement goes?
Only slightly, unfortunately it’s not as flexible as a normal investment account. I’ve done a good bit of trying to lessen the damage though.
That sucks. I work for an American company and I have to have mandatory pension contribution. I only put in 3% of my salary to it and stated I want them invested into medium risk funds.
I don’t trust company pensions to be my sole source of retirement funds, and so I started my own investment portfolio. Even though I know US companies are more profitable, but with the way things are going, I limited my investments to select few US companies and I plan to invest more on Asian and European stocks.