>> The norm for most people used to be to work for the same company most of their career (if not all of it) and retire from there with a pension Stats on that?

>> The norm for most people used to be to work for the same company most of their career (if not all of it) and retire from there with a pension Stats on that? That absolutely was not the norm. Again, most companies did not exist long enough for someone to work at one for their entire career. Median job tenure 40 years ago was around 4 years (BLS). A minority of private workers were covered by pensions at the highest point, and being covered by a pension plan did not mean you got a pension. A company might have required 30 years of service to get a pension. Work there 29 years and 11 months, get fired, no pension. Work somewhere ten years and then decide you hate it? Either work there another 20 years hating it or quit and lose your pension. Job hop for a raise every few years? No pension. Many pensions were not adjusted for inflation. Many pension plans went bankrupt. Pensions sucked. I know, I have one from the 90's. Worked there 7 years, that pension is going to pay me roughly the same monthly amount as I will be able to take from my last year's contributions to my 401K, even if those contributions make no investment returns before I retire. I have no idea how young people get these fantasy ideas about the past. And do you really want to work in the same place for 40 years? A 401K is better than a pension. A 401K, Roth IRA and HSA is immensely better than a pension.