To each his own. Yes, those who manage their own investments can probably do better than a 401K plan in several respects. But the thing is, the fraction of the population that can do that at say age 30 is quite small--possibly less than 1%. 401K does a good job of encouraging people to save for retirement. And it encourages regular saving and reinforces the discipline that this money is for retirement.Yes, some 401K plans are better than others. Good ones have done quite well for many over the years. In the midst of recession, many see clouds on the horizon. Lets hope the sun shines again one day.If you have your own system for funding your retirement, great. Those who have none may never be able to retire or could end up on welfare. 401K is better for all of us.
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