Excellent review of the shortcomings of 401(k)s for retirement.http://www.slate.com/blogs/moneybox/2013/05/01/it_s_a_401_k_... — Poor people get absolutely nothing. — Wealthy people who would have had large savings anyway get a nice tax cut that offers no meaningful incentive effect. — For people in the middle, the quantity of subsidy you receive is linked to the marginal tax rate you pay—in other words, it's inverse to need. — A small minority of middle-class people manage to file the paperwork to save an adequate amount and then select a prudent low-fee, broadly diversified fund as their savings vehicle. — Most middle-class savers end up either undersaving, overtrading, investing in excessively high-fee vehicles or some combination of the three. — A small number of highly compensated folks now have lucrative careers offering bad investment products to a middle-class mass market based on their ability to swindle people.<snip>intercst
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