Interesting article about Nascar and no pensions

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Without pension, NASCAR stars forgotten

Jeff Gordon, the sport's all-time money leader, has won a record $82,366,716 through 14 full seasons and isn't sure what the responsibility should be.

"We don't want to make NASCAR go broke like some other companies out there with pension plans have done," said the four-time Nextel Cup champion. "We all need to be responsible for our actions."

Do you agree with Gordon, that pensions are for chumps and that we should be "responsible for our actions"?

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Re: Interesting article about Nascar and no pensions

I'm not sure how to answer that question of yours. I think we all bear responibility for our retirement. If my husband retires from the military, he will recieve what is in effect a pension. However, we save 15% of our gross towards retirement as well.

Pension plans as I understand them can be quite expensive. Just because other major league sports have pensions doesn't mean that NASCAR has to have one. The article even points out that it doesn't keep drivers away...the lack of a pension plan. Since, they are independent contractors they should be able to fund their own retirement...I think there are products out there for single business owners to even get tax breaks on their contributions.