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Founder of the 401k wishes he can start over

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401k I came across at great article on npr.org on the 401k on how it has changed since inception (for the worse). The 401k was never intended to be the primarly source of retirement, but since mega fortune 500 companies notice how cheap it was and the risk laid upon the employee instead of the employer. Goodbye pension funds hello 401k’s.

Good for business, sad for employers.



My advice is to contribute to a Roth IRA and use a 401k as a backup (only if the fees are low and there is a good selection of mutual funds)*

 

* good selection of funds Vanguard, USAA, Fidelity

* low fees are considered below .99


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