Too Late

A really good oped about the failure of the 401k system. His point: basically, the 401k isn't weathering the storm and failed it's first big test.

Being a "contrarian," I guess it shouldn't come to news to me that the popular wisdom about the financial security of the 401k was flawed. In the 7 years I've had a 401k, I've basically broken even. When I invested in it, the "long run" upside was all but guaranteed. Well...7 years isn't the long run, but it certainly isn't the "short run" either. Point is, the predictions were wrong and I know some of my money was going to account and broker fees, although they don't show up on the statements.

Upside - I guess I won't be paying any income taxes when I take it out.