I cancelled my WSJ subscription so what’s the gist of this article? That 401(k)s are now bad because common people are doing so well with them?
Too many people don’t get in to 401Ks
People lost money in the 2000’s in market down turns.
Too many companies don’t have 401k plans.
Low interest rates have hurt earnings on 401ks.
Some people don’t invest enough in their 401k to provide for their retirement.
Companies have eliminated their defined benefit pension now that 401k’s are available as a cost savings measure.
People are too stupid to handle investing.
Wall Street makes too much money managing 401k’s
And of course ‘Government could do it better’.
I still have my WSJ subscription but Im not ready this tripe. Lament, Democrat, Blackstone, Social Security. I do not need to see anything else. “Blackstone is not getting enough fees in this low yield era so they have lobbied their friends in government for help under the guise of looking out for the little guy.” Reads much better.