RE: Teresa Ghilarducci, the woman who wants to take away your 401k, says you need 20X your annual salary for retirement.
So, if they take away our 401K, how do they expect anyone to reach 20X annual salary?
Are they going to print it for everyone? /s
She says that 401k's are just a rich get richer scheme because "average" people aren't saving enough. So her solution is to do away with 401k's and force everyone to save in government securities.
Silly me, I chose to forego the jumbo flat screen TV in every room.
-PJ
She wants to take away the 401K and replace it with a mandatory retirement savings account.