Admit it. We've all been there. You're in the middle of an employee education meeting on retirement plans and someone (in their twenties, no less) invariably asks, "Why should I save? Social Security will take care of me when I retire."
Your first reaction is "What!? Chances are Social Security as you know it won't even be around when it's your time to retire." But you hold it in. Experience tells you this question represents only the tip of the iceberg. If one person is asking it, a hundred are thinking it.
Yes, 401(k) plan participants ask the darnedest questions. You can't snicker at them. Your challenge is to seize them as an opportunity to rid employees of often harmful misconceptions, (see "5 Awkward 401(k) Questions Every Good Fiduciary Must Know the Answer To," FiduciaryNews.com, November 28, 2017). These straight-from-the-heart questions reveal the naïve honesty of many retirement savers.
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