A community of 30,000 US Transcriptionist serving Medical Transcription Industry

Companies that provide 401Ks and profit-sharing: - Zircon

Posted: Oct 20, 2009

There's just ONE, eensy-weensy little problem with MT companies providing their employees with a 401K as one of their benefits:

What person on a measly MT's earnings can afford to put anything into it????? I can't spare even a dollar at the end of each pay period, and haven't been able to put anything into even a savings account for years.

Did it ever occur to them that a retirement account is USELESS if you don't pay your employees enough to fund it?

401K - BalloonGirl

[ In Reply To ..]
Who would want to risk putting a dime in one now anyway? You are better off burying it in the backyard in a tin can.

You sure got that right! What money I DID have - - (sm)-Zircon

[ In Reply To ..]
in a 401K got chopped in half by the failure of the economy and the stock market. So now it's almost a moot point that I can no longer afford to fund my 401K, because as you said, "Who would want to", anyway?

And how about the fact that now that the government is trying to rein in all the banks and their shifty credit-card fees, now most or all of them are going to start charging yearly fees for UNDER-use of your credit cards. When my bank sends me that memo, they're getting my cut-up card back, and a nasty letter to go with it.

When I was a kid I managed my money and saved for things with the "envelope method", and I'm just about to close my Wells Fargo account, and just pay cash for everything.

"They" say that closing your account will ding your credit rating. Big woo. Who cares about a credit rating if you don't have the money to buy anything, anyway? At least with the cash system, you're spared from over-spending and finance charges. There are better ways to use that little bit of extra money than feeding the banks.

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