401Ks are a disaster: Column

[llmart]

212. I am still not through the entire thread of your journal entry....

but I am enjoying it immensely. I will finish reading the rest of the comments later, but didn't want to wait to post.

You've heard of the saying "with age comes wisdom"? Well, not always but for some people, we do get wiser as we get older. I wonder sometimes if those of us who are now older are trying to impart our wisdom on younger people so that they may have the chance to gain at least some wisdom before it's too late. Or - is ignorance really bliss?

I don't know how old some of the posters on here are, but those of you still parroting the conventional wisdom of how you'll be well set in retirement if you just invest the max in 401's, blah, blah, blah I'm here to tell you one more time (because others on here have said this) YOU CAN DO EVERYTHING RIGHT AND STILL SOMETHING GOES WRONG.

Just don't fool yourselves into thinking that you're going to be OK because you're doing everything you're being told to do. That way if/when the fall happens, you won't be blindsided.

Some of us speak from experience.