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| Topic: |
Business
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| Number of pages / Number of words: |
8 / 1973 |
Essay's paper body
This is the worst case scenario but with current talk of recession it would be best to keep investors happy.
Many people think that accounting fraud will not directly affect them but that is far from the truth. In the past wake of bankruptcies millions of Americans who were heavily invested through their 401(k) retirement plans in the stock market had to postpone retirement and rethink their investment strategy...
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According to one estimate, American workers lost $175 billion in retirement savings during this time. The losses came at a time when 401(k) plans had become very popular with employers, replacing defined benefit pension plans that guaranteed a set amount of money during an employee's retirement. Any person who plans on retiring that isn’t already wealthy will have to rely on the stock market to grow their retirement (Johnstone)...
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