Advanced Search Request a Book

ORDERS

Readings Orders 0

DEMANDS

Readings Demands 0

Social Insecurity:401(K)S and the Retirement Crisis
[Paperback - 2015]
james w. russell
On Demand
Availability in 4-6 weeks on receipt of order
List Price: $20
Our Price: Rs.4795 Rs.4076
Standard Discount: 15%
You Save: Rs.719
Category: Business
Sub-category: Finance & Investing
Publisher: Beacon Press | ISBN: 9780807014707 | Pages: 224
Shipping Weight: .345 | Dimensions: 6 x .65 x 8.99 inches

More Buying Options

Hardback Rs.5521

Description

How 401(k)s have gutted retirement security, from charging exorbitant hidden fees to failing to replace the income of traditional pensions

Named one of PW's Top 10 for Business & Economics
 
A retirement crisis is looming. In 2008, as the 401(k) fallout rippled across the country, horrified holders watched 25 percent of their funds evaporate overnight. Average 401(k) balances for those approaching retirement are too small to generate more than $4,000 in annual retirement income, and experts predict that nearly half of middle-class workers will be poor or near poor in retirement. But long before the recession, signs were mounting that few people would ever be able to accumulate enough wealth on their own to ensure financial security later in life. This hasn’t always been the case.

Each generation of workers since the nineteenth century has had more retirement security than the previous generation. That is, until 1981, when shaky 401(k) plans began replacing traditional pensions. For the last thirty years, we’ve been advised that the best way to build one’s nest egg is to heavily invest in 401(k)-type programs, even though such plans were originally designed to be a supplement to rather than the basis for retirement.

This financial experiment, promoted by neoliberals and aggressively peddled by Wall Street, has now come full circle, with tens of millions of Americans discovering that they would have been better off under traditional pension plans long since replaced. As James W. Russell explains, this do-it-yourself retirement system—in which individuals with modest incomes are expected to invest large sums of capital in order to reap the same rewards as high-end money managers—isn’t working.

Social Insecurity tells the story of a massive and international retirement robbery—a substantial transfer of wealth from everyday workers to Wall Street financiers via tremendously costly hidden fees. Russell traces what amounts to a perfect swindle, from its ideological origins at Milton Friedman’s infamous Chicago School to its implementation in Chile under Pinochet’s dictatorship and its adoption in America through Reaganomics. Enraging yet hopeful, Russell offers concrete ideas on how individuals and society can arrest this downward spiral.

About the Author

James W. Russell is the author of eight books, including Double Standard: Social Policy in Europe and the United States. An authority on retirement policy in the United States, Europe, and Latin America, Russell led one of the first employee movements to successfully challenge the dominant trend and replace a 401(k)-like plan with a more secure traditional pension plan. He has taught at universities in the United States and as a Fulbright professor in Mexico and the Czech Republic. He lives in Storrs, Connecticut.

Bestsellers in Business

View All
The Lean Startup
[Paperback - 2011]
eric ries
In Stock
List Price: £14.99
Our Price: Rs.3345 Rs.3010
Standard Discount: 10%
You Save: Rs.335
Who Moved My Cheese? An Amazing Way To Deal With Change In Your Work And In Your Life
[Paperback - 1999]
dr spencer johnson
In Stock
List Price: £8.99
Our Price: Rs.1295 Rs.1165
Standard Discount: 10%
You Save: Rs.130
Principles: Life And Work
[Hardback - 2017]
ray dalio
In Stock
List Price: £30
Our Price: Rs.7795 Rs.7015
Standard Discount: 10%
You Save: Rs.780
Tools Of Titans: The Tactics, Routines And Habits Of Billionaires, Icons And World-Class Performers
[Paperback - 2016]
timothy ferriss
In Stock
List Price: £25
Our Price: Rs.4095 Rs.3685
Standard Discount: 10%
You Save: Rs.410
Linchpin: Are You Indispensable? How To Drive Your Career And Create A Remarkable Future
[Paperback - 2018]
seth godin
Out of Stock
Availability in 2-4 weeks on receipt of order
List Price: £9.99
Our Price: Rs.2195 Rs.1975
Standard Discount: 10%
You Save: Rs.220
Atomic Habits: An Easy And Proven Way To Build Good Habits And Break Bad Ones
[Paperback - 2018]
james clear
In Stock
List Price: £17.99
Our Price: Rs.3895 Rs.3505
Standard Discount: 10%
You Save: Rs.390
The Laws Of Human Nature
[Paperback - 2019]
robert greene
Out of Stock
Availability in 4-6 weeks on receipt of order
List Price: $25
Our Price: Rs.4245 Rs.3820
Standard Discount: 10%
You Save: Rs.425
The Wealth Of Nations
[Paperback - 2003]
adam smith
Out of Stock
Availability in 4-6 weeks on receipt of order
List Price: $9.99
Our Price: Rs.2445 Rs.2200
Standard Discount: 10%
You Save: Rs.245
Freakonomics: A Rogue Economist Explores The Hidden Side Of Everything
[Paperback - 2009]
steven d. levitt
In Stock
List Price: £5.99
Our Price: Rs.1395 Rs.1255
Standard Discount: 10%
You Save: Rs.140
Rich Dad Poor Dad: What The Rich Teach Their Kids About Money That The Poor And Middle Class Do Not!
[Paperback - 2017]
robert t. kiyosaki
In Stock
List Price: $8.99
Our Price: Rs.2295 Rs.2065
Standard Discount: 10%
You Save: Rs.230
Chip War: The Fight For The World's Most Critical Technology
[Paperback - 2022]
chris miller
On Demand
Availability in 2-4 weeks on receipt of order
List Price: £14.99
Our Price: Rs.4195 Rs.3566
Standard Discount: 15%
You Save: Rs.629
The World For Sale: Money, Power And The Traders Who Barter The Earth's Resources
[Paperback - 2022]
javier blas
Out of Stock
Availability in 2-4 weeks on receipt of order
List Price: £10.99
Our Price: Rs.2545 Rs.2290
Standard Discount: 10%
You Save: Rs.255