We have all discovered recently that we have been living in a faux economy. We know how just how fast the economy can and will crater, and it looks like things will be some time coming back. It's been a real eye-opener for a lot of people.
Things were different for our parents. They were not only assured of having Social Security, but they knew they would retire with traditional retirement plans, giving them an income for life regardless of how long that life turned out to be. In recent years these traditional plans have been almost completely replaced with 401(k)s. Now we are finding our 401(k)s can shrink faster than a keg of beer at a frat party.
I would like to see Congress rethink 401(k)s and push a return to traditional retirement plans.
