At the risk of dragging the issue just a little further than we might normally do, may I just briefly bring your attention to one last opinion related to the now-resolved NFL referees' lockout and its strange interconnection to the world of retirement planning.
As we learned, the issue at the heart of the labor dispute came down to the refs' retirement benefits, and their lack of interest in moving from a long-established and comfortable pension plan into the more tumultuous world of the 401(k), as had been offered as an alternative by the NFL.
As Kadlec puts it, their victory spoke to the frustration that many American workers - and, no doubt, those of you who have been trying to make the 401(k) seem like a perfect retirement solution, though it's becoming abundantly clear that the 401(k) alone is not the be-all, end-all of personal financial planning.
"A ton of data is now in hand showing that 401(k) plans have been a bust as a primary retirement security vehicle," he says. "Too many people don’t contribute enough, don’t diversify and don’t repay loans from the plans; too many take early distributions and try to time the market. Most with only a 401(k) plan have not saved anything close to what they’ll need to live for 20 or 30 years in retirement.