Do you think 401(k) plans and IRAs will work as retirement savings for most Americans?
Are most of your friends and relatives saving enough for retirement in 401(k) plans and IRAs?
What have been your best 401k investments?
Do you think Teresa Ghilarducci and Hamilton James’s plan as described in the linked article would work?
The current system — a mix of 401(k)s and individual retirement accounts (I.R.A.s) — is broken. These plans are individually directed, voluntary and leaky. Just over half of workers don’t have access to a workplace retirement plan. According to the National Institute on Retirement Security, Americans between the ages of 40 and 55 have retirement savings of $14,500, when they will need between 20 and 30 times that amount. Many people take money out before they retire. And the wealthy tend to pay lower fees and get higher subsidies for their savings.