The 401k Debate
Is it time to do away with the 401k retirement plan?
In his recent Time Magazine article, Stephen Gandel wrote that the “401(k) is a lousy idea, a financial flop, a rotten repository for our retirement reserves.” The 401k was designed to supplement a company pension and Social Security, but companies have reduced or eliminated pensions and this puts millions of people at the mercy of the stock market.
Others disagree, including financial columnist and retirement planner Steven Butler, who says 401k plans have been and continue to be successful.
Here they are debating whether the 401k is an effective retirement solution on WNYC’s Brian Lehrer.
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paulpetillo
