Re:Student Loans. Medical Debt. Criminal Justice Fees. Cance...
by bluGill on Friday July 02, 2021 @10:51AM
(#27712248)
My retirement is invested into a large collection of companies, some of which own these loans. I fully expect that this will cost me. If I had instead not invested for my future and just partied hard I'd be better off.
Re:Student Loans. Medical Debt. Criminal Justice Fees. Cance...
by xienze on Friday July 02, 2021 @10:55AM
(#27712328)
Yep, your 401k will be indirectly affected by this.
The real fun starts 20-ish years down the line when our elected officials decide to directly seize 401k assets in the name of "equity."
Re:Student Loans. Medical Debt. Criminal Justice Fees. Cance...
by handrous on Friday July 02, 2021 @11:09AM
(#27712500)
20-ish years from now the average amount of money in a retirement account ought to be in steep decline, year over year. So the good news is they won't be a very attractive target. The bad news is we're going to have a retirement crisis on top of whatever crisis 20 more years of healthcare cost increases causes (assuming we don't fix that between now and then—call it 50/50 odds, because I'm an optimist).
In a rational economic system those arguments should hold water. We have nothing like that now. Paying attention to the last 20 years of egregious hoarding of wealth should make that clear.
Ignoring the strawmen, the systems at issue (school debt, medical debt and government debt) are nothing like a free market. They are so highly regulated, the abuses so entrenched, its reasonable to consider changing them.