Is Your 401k Broken? Are All of Them?

There's a fascinating article in today's Wall Street Journal about the problems with 401(k) retirement accounts. Whether it be due to limited access, minimal savings level, or improper investing strategies, the 401(k) certainly has enough to criticize. Yet a silver bullet to make the 401(k) perfect doesn't exist, so still consider saving in your 401(k) plan, if you have one. If you're disappointed in your current account balance, you're not alone. One of the fastest ways to increase the value of your plan is to increase your savings rate.

If you don't have a 401(k) plan at work, consider making a friendly suggestion to your employer. (Or better yet, get a co-worker to do it.) In the meantime, take a look at regular IRAs and Roth IRAs. Social Security may be part of your retirement plan, but you shouldn't rely on it alone.

Your thoughts on you 401(k) plan? On the 401(k) plan of others? Changes you'd like to see made or is this just an over-reaction to a bad period in the stock market?