Election '08: So, are doctors hosed?

[Gut Shot]

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Thoughts?
How is that different, in principle, than Social Security?

You can opt out of these proposed automatic savings plans. The key feature is that you have to make a move to get out of the plan, rather than a move to get in. This negates the biggest problem with saving for retirement: inertia.

Read all about this and other amazing facts in Thaler and Sunstein's Nudge.

 

[yaah]

From the WSJ thursday:
"Automate participation and savings. Automatically enrolling employees in plans, then hiking savings with pay raises, overcomes the inertia that results in nearly a quarter of workers eligible for an employer-sponsored retirement plan not signing up. Automatic enrollment plans should mandate employer and employee contributions, and the percentage amounts of each. "
--Roger Ferguson, CEO of TIAA-CREF on Obama's Transition Economic Advisory Board

Thoughts?
How is that different, in principle, than Social Security?

The other difference is that it's actually your money going to you when you retire. It isn't going into a random pool which money is withdrawn from for you.

 

[stickyshift]

The other difference is that it's actually your money going to you when you retire. It isn't going into a random pool which money is withdrawn from for you.

In contrast to the terrifying proposal to nationalize 401ks, this is change I can believe in!

 

[LADoc00]

Definitely plan on opening a new style 401K, it includes thing like this:

And a big sign on my door: