My story can be found on page 137 of 'How to Destroy the Middle Class' playbook ....

[TBF]

69. I think that was the really sad thing about 401K -

unsophisticated people were convinced by Reagan that they were all going to be "owners" and put their eggs in one basket (or as you said are incredibly bad investors - which is not difficult to believe given that many would have no education in this area). If you buy stock and hold over the long-term you'll likely be fine according to most gurus, but people get scared when they see numbers go up/down. Also many may have little other savings - sad but true.

This is why Social Security is so, so important and should not be raided by the republicans to finance future wars. I feel it should be a lock box. Because there are always going to be those people who can't save, won't save etc... - you don't have to give them all mansions at age 65 or 70 - but a basic check each month so they can get by. Putting it all in the stock market would be devastating just for this reason. People like you are going to be fine because you seem to be thoughtful and will have your own little nest egg plus SS. Not everyone is so astute but I still don't want to see them sleeping on the street.