Has the Great 401(k) Experiment Failed America?


I have never been able to participate in a 401k. However, I do have IRA’s. Most of my knowledge has been gleaned from reading and trial and error. I just wrote an article about what I want when I retire. I wonder if any of the people who are at the median or below ever think of the future at all. Do they think it will not come? Do they want to work till death? Who knows?

What I do know is that $ 18,000 in retirement savings will not be enough. I hope the companies and the employees will continue to encourage saving for the future. Social Security is not going to be enough for most individuals. However, for high income folks who have amassed a fortune, it will just add cash to the pile. For those who spent it all along the way, it will be a far cry from what is needed for most of their future lifestyles.

It is never too late to save for the future, and there is no better time to start than the present. Hopefully, those who read that article will see some kind of lightbulb go off and get moving in the right direction.

About dividenddreamer

Doing what I can to make the best of today and the most of tomorrow.
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2 Responses to Has the Great 401(k) Experiment Failed America?

  1. Vivianne says:

    I read the same article. I think the 2008 financial crisis still leave some bad taste I. The mouth for some people. Having lost the house, big chunk of retirement, and the job. People were moving back home, the tiny home movement was strong. Us millennial travel a lot more, and don’t like to be tie down. We were forced to live minimally so $18k is a lot of money when the wage for us millennial is way down.

    • Hopefully, all the issues are now in the past. Looking forward, there is always time to build a nest egg and nurture it. I read so much about the housing bust and people being underwater, and also, losing the houses. The only issue with not aggressively planning for the future is that the ability to work and provide can end at any moment with an injury or death. I guess it is a matter of taking that gamble on saving for a rainy day or living it up and betting that everything will be alright in the end. I know I am scared of not saving and investing enough for my future me.

      Good luck, and thanks for stopping by.

      Keep cranking,

      Robert the DividendDreamer

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