What's wrong with the 401(k) and how it can be fixed - Jun. 16, 2009
Is the 401k and other self directed retirement plans a success or failure? In your opinion/ your world?
To me I read the article and there is a huge bias (calling the plans failures).
Yet I think most who use the plans
a) save less than 15% of their gross income per month (in 401k-IRA-savings accounts combined)
b) do not understand risks with some or all of the investments chosen (and there is more than one type of risk)
c) do not actually have a plan (they just save and think that is good enough)
I see a-b-c as the problems, not 401ks or similar plans.
Thoughts?