401K Train Wreck/GOP Driving Retirement To Extinction.

[edhopper]

9. The 401K

was fine as a supplement to pensions for those that could afford to put away some money. i.e.; upper middle class.
It has become a replacement for pensions, and in that it has failed. Most people do not have nearly enough to retire on. And with wage stagnation, also a result of Union busting which was a prime cause of the pensions disappearing as well, it is harder and harder to make enough to save.
On top of that they markets have become so volatile, that your 401K can lose a large percent of it's worth overnight, and the safer investments like bonds and CDs return nothing.
The 401K is a failed experiment.


http://www.cbsnews.com/news/study-401k-retirement-plans-failing-most-workers/

http://www.forbes.com/sites/johnwasik/2013/04/24/why-401ks-have-failed/

http://articles.latimes.com/2013/sep/04/business/la-fi-mo-the-401k-retirement-system-is-a-failure-for-most-study-says-20130904

http://www.huffingtonpost.com/david-callahan/401k-a-perfect-failure_b_1574834.html

http://www.pbs.org/wgbh/pages/frontline/business-economy-financial-crisis/retirement-gamble/teresa-ghilarducci-why-the-401k-is-a-failed-experiment/

http://www.marketplace.org/topics/sustainability/consumed/father-modern-401k-says-it-fails-many-americans