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Stocks and your 401(k) may surge now that Fed rate hikes seem to be over, history shows (www.usatoday.com)

submitted 1 year ago by [email protected] to c/[email protected]

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News this week that inflation eased more than expected in October solidified the view that the Federal Reserve is done with its most aggressive rate-hike campaign in four decades.

And that could be a boon for the stock market and your 401(k).

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[–] [email protected] -1 points 1 year ago (1 children)

Wikipedia uses a good definition for pyramid scheme:

A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.

I don't think that describes a 401k. I don't get money if I convince you to open a 401k. I do pay fees to a company to manage my 401k but I've chosen the lowest fees available to me.

[–] iterable 0 points 1 year ago (2 children)

Tell everyone who lost their retirement in a 401k to a big company that it is not a pyramid scheme

[–] [email protected] 3 points 1 year ago

Well how do you define pyramid scheme and how do you think it applies to 401ks?