I also question this. Why should I, or anyone at my age even think about saving for retirement. First of all, we are forced to be taxed for SS and yet, they payout is abysmal. That, combined with the act that it is drying up as we speak, makes me pretty certain that all that will be around for me will be my kids pay checks. Since the concept is not totally unlike with private funds, I am not going to throw any money there.
Secondly, what would stop a government that is ALWAYS hungry to confiscate and "redistribute" from taking your or my private 401K? Answer: Nothing.. Combine this with the seemingly out-of-control monetary policy and "return of investment" of paper money is therefore a joke, IMHO. The RISK alone of the government taking the money is probably worth at least 5-10% of wealth. Then, the hyperinflation that (eventually) will be coming is going to make anyone that have saved for whatever time eel bitter if they suddenly have worthless money.
Thirdly, what is the chance of MY KIDS,(or anyone else's kids) start saving or retirement at THEIR time, knowing so many of us haven't? Would YOU fund a pyramid scheme if you knew it was so and you also knew that your dad did, and didn't pay into it? I will at least be honest enough to tell my kids the reality as I see it here. "I'm not gonna fund your retirement, so Please don't be a fool and fund mine"..
Finally, paper assets that are at the mercy of some hedge fund operative that has more money (YOURS) and doesn't really care all that much if it doesn't work out for you. Well, maybe a bit harsh to say, but at least they are STILL playing with YOUR wealth and if it doesn't work out, how much would you get back of that? Too many questions, too much uncertainty and "reassurance" from investment banker has about as much value as the REAL value of the private organization "the Federal Reserve", you know, the guys who keep this up.
Therefore, I am joining the emerging movement of young adult families who choose not to perpetuate this scheme. I have more faith in investing money into my own house to improve it or all needs and live of my kids taking care of me, than I have in giving it to some banker. Especially as it makes less and less sense to 'dream" about money saved in a 401K. Unless they inflation adjust it, it is just as real as a Greek bond, IMHO.
This will force bankers, government "planners" and corporations to think anew. I wonder what they will try to do? Well, they have already gotten their wishes by now. Massive immigration that is backed by globalist unions that will drive down wages massively upon everybody, especially those most unskilled, already vulnerable to the globalist social engineering.
Want a great tips for retirement? Take care of the people you love and forget everything else. If you still want SS, maybe you can have mine when I retire. Or even better: Why can't we sell our SS policy to the takers that are so gung ho to preserve it?