401k vs. Pensions

Pensions aren't looking so bad right now - particularly because by definition they provide insurance against the uncertainty of how long you'll live and are not ruined by volatility of the market. Although, as you near retirement, you're supposed to transfer assets to safer investments.

Doesn't really affect me - I work in an industry that never had pensions. My insurance - sadly - is picking a field I "enjoy" so I won't be counting my pennies and days until retirement. If all goes well, I'll never fully "retire," unless I can no longer physically do the work.

I mean, who wouldn't want to get drinks with assistants in their 70s! Awesome!