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The Grim Future of 401(k)s
One expert shared his views on the current and future status of 401(k)s earlier this week with a less than optimistic message. Charley Ellis, author of “The Loser’s Game,” shared his perspective on the current system and ideas to fix the issues. He talked about the issue of individual participation and the need for corporate help, saying that employees needed a push by their companies to get the most out of their 401(k) in retirement. It basically boils down to being more educated on the subject and knowing the ins and outs as well as having a solid plan for retirement in place before reaching retirement age. John Rekenthaler has a more detailed write up of the speech in his article with MorningStar.
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