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The fact is for more then a few the 401K when enacted was meant as a supplement for a employer backed retirement. Never a standalone, what it has become for the majority of workers now.
Then add the stagnant wages and rising costs the 401K is used as a emergency source of funds.
We were lucky to both have a old employer supplied retirement along with 401K. Never need to "borrow" from the 401K and fully funded the accounts. Thank you organized labor once again!
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