Before I retired a 66 year-old co-worker announced that he was retiring after 15 years. He was a nice guy but not the sharpest knife in the drawer. I asked him if he was going to roll over his 401K into an IRA. He said, "Oh, I never paid attention to that stuff." So I sat him down and created an online 401K account for him and it showed he had $66,000 dollars. He yelled, " Are you telling me I have $66,000?! OMG, I'm rich!" The employee had never contributed one dime to the account. All the money was from the employer. And he thought he was rich! Just think what he would have had if he contributed some of his own paycheck. I blame him for not paying attention. But there are way too many people out there who need some hand-holding and help along the way.
And those of us suckers, I mean, savers, will wind up paying for all of this ignorance.