The point of 401k is that you compound the growth on the deferred tax money, and then pay much less /present value/ tax once you retire. Index funds and high yi

The point of 401k is that you compound the growth on the deferred tax money, and then pay much less /present value/ tax once you retire. Index funds and high yield bond funds give you low overhead with almost no "gambling" element. Drawbacks: Limited maximum contribution, very long deferred gratification, vulnerable to future policy changes.