In Case You Missed This... 'My Faith-Based Retirement' - By Joe Nocera/NYT

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6. I Agree With DKF's Comment

This guy contributed to much of his own problems through bad decisions and circumstances he surely didn't plan on, the divorce. So this financial saavy investor thought it was good idea to load his portfolio up with tech stocks. His wife would also have been entitled to a share of his defined pension plan if he had one. I have been working since 1975 and one of the biggest changes I have seen is that people do not routinely go to work and stay with a company for 20+ years. The younger generation move around quite a bit during their careers and the mobility of the 401K fits that work style. Defined pension plans work only if you plan on sticking with a company long enough to earn the actual benefit. Many of the folks in my age group are not prepared for retirement because they didn't save, period not because their 401Ks have performed poorly over the years.