Draining 401k 2008-2013

My post in 2008  Draining 401k pool of money  came to mind  when I saw this Washington Post article in 2013…The trends have accelerated over the last four years, and as a general political and policy issue the lens is currently based on a pre-occupation with the federal budget deficits and austerity, the private side of savings appears to matter to people much less.

Fiscal trouble ahead for most future retirees:

For the first time since the New Deal, a majority of Americans are headed toward a retirement in which they will be financially worse off than their parents, jeopardizing a long era of improved living standards for the nation’s elderly, according to a growing consensus of new research.

The Great Recession and the weak recovery darkened the retirement picture for significant numbers of Americans. And the full extent of the damage is only now being grasped by experts and policymakers.

Kenneth Thomas’s 2013 posts on retirement savings 66 trillion retirement saving shortfall and Solutions to middle class retirements.