markkoala: "I know that every single person should have some of their money in the stock market at any point of time in their life."

Rad: Not if they can't tolerate the risk. This statement alone tells me you really don't understand managing money for another person.

markkoala: "So no one should have a 401k, or IRA?"

That is not what Rad wrote. And it dos not legically follow from her statement.

"Everyone should be involved in one of these at some point in their life."

Which is a different statement than you first wrote. (And I am not addressing its accuracy one way or another).

"Who would agree with anyone that says a 401k isn't for everyone....... it's free money."

Free money? Maybe some free money depending on the plan, but you are making a gross over-generalization.

All the money in my 401-k came from my paycheck; there were no employer contributions. Free my @ss.

Regards, JAFO