Guy who wrote book in favor of 401ks in the 90s - can't retire cuz his 401(k) is now in tatters

[CTyankee]

56. I didn't do that. I simply did not make enough money to put aside for my retirement because

I didn't start out in one place, going up the ladder and putting more and more money in as I got increases in salary. I started late, being that I raised kids and only went back to work when the youngest was 6. I started at a lower rung salary-wise. We moved. I got a divorce and became a single mother. My salary and child support was not enough to keep us afloat, even tho I put in regularly what I could towards retirement (I was working in non-profits).

You see the pattern. I have no doubt that the 401k deal was a set up from the get go. The people managing these plans were in it for a profit. No wonder I and other workers suffered. It's a scheme to rob us of our salaries to fatten their wallets. And it's crazy.

Luckily, I was able to retire thanks to my parents portfolio stretching back over 40 years, since my brother predeceased me. That, the pittance I put in over my work years and Social Security, saved me. But my inheritance was the keystone, not the other two. And believe me, there are others I know who only have the latter two, not the former. And they are really suffering.