Quote:
Originally Posted by Oerets
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.
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Essentially correct!
The basic idea of a pension was to save workers from themselves and the vagaries of an economy.