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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76883  
Subject: Re: The 401(k) World Date: 5/4/2013 12:20 AM
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PSUEngineer asks,

Excellent review of the shortcomings of 401(k)s for retirement.

So what's your solution. It can't be to bring the defined benefit plan back.


Since I think the biggest problem is what people are losing to Wall Street in fees, commissions and costs. I'd force every worker to save some percentage of his income (in addition to the FICA he's paying) and deposit it in the Federal Gov't Employee Thrift Savings Plan (TSP). Even the difference in fees vs. Vanguard (Vanguard averages 19 basis points, TSP 2.7) is enough to buy you an automobile after 40 years. The difference is probably 2 or 3 houses vs. Merrill-Lynch.


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