Denzel Rodriguez argues the 401(k) has failed a generation. Since the early 1990s, W-2 earners have relied on these plans instead of the guaranteed pensions their parents had. Generation X now faces a massive retirement crisis the old system would have prevented.
The 401(k) model of investing money for W-2 earners. We now have proof it didn't work. We have actual proof. What's that proof? There is a massive retirement crisis for the Gen X generation and even some of the baby boomer, some of them. But the baby boomer generation is the last generation that received guaranteed income that pretty much covered almost 100% of what they were making when they were actively working. Those were called pension plans. The Gen X generation got introduced to the 401(k) employer contribution plan.
