Page 39 - 401 K News Today : Breaking News, Live Updates & Top Stories | Vimarsana

What is it about our country that we are so addicted to red ink. new statistics show millions of americans have 401 k for retirement, but 60 percent or three out of five americans with private retirement accounts are taking out more debt each year than putting in the savings account. we are not troding water but swimming back wards. it is a scary situation. >> tell me what this means. three in five workers with defined contribution accounts or 401 are debt save ares? >> that is a new term that i had just seen today. what the author means by. that for every dollar they are putting in the saving...

Accumulating faster than the savings and that means in a practical term, people like you and me turn 65, we'll get the pensions and have to pay off the debt, too. >> where is the workers that save money, len percent of the salary is broken down. five percent in personal accounts like a 401 k and six percent in social security. and 11 percent of the workers pay. generation after generation that would be enough. are you saying it is not enough? >> it is not enough because of what we are doing with the other paychecks. first of all, the paychecks are not rolling fast enough. in fact, one thing ab...

That 74% of americans said they disapproved of the job republicans were handling. that went up from the beginning of the shutdown until this week. they are certainly taking most of the blame. >> let's hope some lessons are learned here. abc's karen travers live on the hill. >> that brings us to our facebook question of the morning. >> with the similar showdown looming in the next few months, what is your advice for congress in seeking a permanent solution to the budget crisis. join our political debate, wnnfans.com. there are modest gains in overseas markets now that the fiscal cries sis has...

>> let me start with the first part of the question, what happens if they don't raise the debt ceiling and the u.s. in this case where you try to pick and choose which bills to pay. that would be terrible for the 401 k and stocks and there are dire predictions how big a sell off in stocks would be. what is fitch telling us today? fitch is telling us what we know. fitch is saying it's warning it could downgrade the u.s. credit rating because they didn't raise the debt ceiling in time and that there -- there -- frankly they are not doing their job. they are not running the books of the united st...

Traditional work place retirement plan. about six million working calfornians do not have access to personal 401 k options. so state lawmakers are trying to implement a mandatory way for people to save for the future. it would be saved in private accounts and managed privately, according to the proposal so individuals would choose how they invest their own money. the state mandate says only 3% is safe, heather. heather: there are a lot of supporters of this idea. what are they saying about it? >> the critics say it would be hard for california to implement this because of their state's rocky r...