This NPR story — Retirement account pioneers regret what they started — seems a bit disconcerting. The way 401Ks were presented to me, I thought this was the way to prepare for retirement. No one mentioned it was supposed to be a part of a three-part plan that also included savings and a pension.
The savings part makes perfect sense. You need to have savings before retirement anyway. But the pension …? I’ve only had one job that offered a pension and that benefit ended about six months after I joined the company. You know that pension will be literally a penny if anything.
I hate to end on such a sad note, so here’s a laugh from Dilbert.