The shift away from a defined benefits program has effectively killed the idea of retirement. The theoretical possibility of better results under careful manage

The shift away from a defined benefits program has effectively killed the idea of retirement. The theoretical possibility of better results under careful management of the individual is eclipsed by the fact that most transactions in the market are "high frequency", which effectively front-runs the market. It's the same effect as stealing from savers with 0% prime interest rates. It's all a transfer of wealth to the top 0.1%. Why do we do this to young people? It's horrible. The only reason I'm not homeless now is that my spouse managed to be in very small fraction of the workforce that still offered a pension. 401ks go in the blink of an eye if you're disabled and out of the workforce too soon.