The 401k Fallout from 60 minutes
This is a great video segment to watch that 60 minutes did on the current 401k problem(is problem a strong enough word?). Steve Kroft asks some great questions. Pay attention to the answers. It’s almost all absolutes. “401k is the absolute best way to save for retirement” “Nobody was saved” Is there truth in these absolutes? As Star Wars has taught us only a Sith talk in absolutes.
You’ll also notice a lot of finger pointing. I must say I love watching a Washington lobbyist squirm. So who benefits the most from 401ks? Or better yet maybe we should try to list the people who benefit the most. Where do you think the average American would fall on that list?
Steve Kroft asks the best question at the 5:52 mark “How can you say it’s the best available if it has let down 10s of millions of people at the time they need the money the most?”
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