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America, We Need to Talk About 401(k)s

America is facing a retirement crisis. If you live and work in this country, you already know that and feel it as you and your family wonder how you’re going to prepare for the future. But the cause of this crisis may not be what you think. Over the last few decades, there has been a deliberate push from Wall Street to gamble with Americans’ retirement prospects in order to generate greater windfalls for its own benefit.

Some candidates on the Republican presidential ticket are pushing policies that would put more people into risky — and costly — 401(k)-style accounts. This will make this crisis worse. Now is the time we talk about how and why 401(k)s are failing.

If you are lucky enough to be in a workplace that provides some type of retirement savings — 38 million working American households are not — it’s likely your retirement is insufficient. About 92 percent of households are financially unprepared for retirement, according to the National Institute on Retirement Security.

You can read the full article by Bailey Childers in The Huffington Post Blog HERE!