You don't retire.
Here is what I have seen over my years of being in the workforce:
- Pensions and profit sharing replaced by 401k.
- 401k with 100% employer match go all the way down to no match at all.
- Year 2000, take half of my 401k savings and throw it away (dot com bubble burst).
- Faith shaken, transfer all 401k funds from risk portfolios to guaranteed income.
- Guaranteed income funds cease to exist, replaced by "low-risk" funds. Lots of fees there, too.
- Ability to do direct rollover to insured credit union account is eliminated.
Sounds so good!
Anytime I hear talk of privatizing Social Security, I immediately think, "count me out!"