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Why you should have a private retirement fund
The days of starting a career at one company and then retiring on a pension plan from that same company years later are gone.  I remember starting for a corporation that had both a 401k and a retirement.  I planned on being there until retirement and cashing in on both.  10 years, 4 company name changes, 2 ownership changes, and 1 company bankruptcy later; the retirement fund is gone and the I get a letter in the mail telling how the company was going to change the management of 1 of the two 401k's I had and letting me know how they would re-invest my money, including some purchase of their stock.   No thank you, I prefer to invest based on my personal needs.  In short, I don't think that the best intending company could possibly know the personal needs of every employee they have.
Statistics say that the average person will change jobs 8 times during a their career.  This merely highlights why you would need a private savings plan in addition to your company matched 401K.  You want to take full advantage of pre-tax matches, but if you are changing jobs there is likely a reason.  If that reason even remotely ... more

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