Comments by "A A Q" (@AuroraBoarder1) on "FRONTLINE PBS | Official"
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Before you trash the idea of opening a 401(k), consider that in the so-called good old days, over half of workers DIDN'T get pensions, and those who did were at the mercy of the company, who could cancel it at any time. Sure, that's illegal, but most retirees don't have the money or legal knowledge to fight it. I personally know 2 people who were fired shortly before retirement, thus losing out on their pensions. One sued, and the matter, rather than dragging on for years, was settled out of court; she received one year's salary.
At least being responsible for your own retirement puts you in control. Review the documents and ask questions. If they hedge, move on to someone else. If all else fails, open an IRA at a brokerage firm, like Edward Jones.
Even getting ripped off by a 401(k) is better than saving nothing!
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