401Ks and defined contribution plans were sold that way because it is cheaper for the company (as opposed to defined-benefit plans). But the majority of people

401Ks and defined contribution plans were sold that way because it is cheaper for the company (as opposed to defined-benefit plans). But the majority of people don't have any financial literacy... just look at the amount of people in debt. That's why, although "taking care of yourself" is correct, it's just not feasible for most people. Most people don't know about proper investment vehicles, inflation, dividends, tax shelters, etc. It's like giving someone this mysterious "gun thing" to store their bullets in, and then acting surprised when they shoot themselves.