Quantitative easing is a huge tax nobody is talking about and its in force now. Every month the government clicks a mouse and adds $87 billion dollars. What is the effect? I went to Lowes to buy a pair of channel locks (hand tool). When I last bought a pair several years ago they cost about $5. Today they are $29.99.
If you adjust for inflation (adding money into the economy) gas is probably as cheap at $2.80 today as it was in 1970 at $.38. I saw an article yesterday saying that the Fed saw no way to end QE and that it would become a permanent feature of the economy. Now that will affect your 401k as no company (other than possibly Apple) is growing faster than inflation.
But, but, there is no inflation! More QE, and for our safety no more gold investments in our retirement.