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“If you wait, it will be too late.”

I agree, and I did cash out mine too. Unfortunately, my wife believes that scenario will never happen. So she will continue to contribute to her 401k.

You boil a frog one degree at a time so he's cooked before he realizes he should have jumped. The question begs why the unions give a rip about the private sector's retirement situation. Answer: Their own plans are woefully underfunded to provide the benefits promised and they need a cash infusion. This will happen little by little until all qualified plans will be through the government (all Congress needs to do is change the tax code, penalties rules etc.) and the only investments allowed will be Treasuries. Watch the auctions. The US is the biggest holder of it's own debt and there's about 15 trillion dollars in private IRA's and 401K's. A buyer at the ready! Then they will exchange the lump sum for an annuity stream which will cost the government far less. A big win for everyone except the hardworking American that actually saved for his own retirement. There's always a chump! Take your $$$ out of qualified plans over these next couple of years and out of dollar denominated assets. This won't happen overnight and we've been warned.

Thinking of pulling it all out to buy land. I’ll be in debt, but when the dollar crashes and i need a wheelbarrow to take my cash to the bread store, ill be able to pay off the loans just as fast.