401k – The New Pension Plan

In the earlier part of the last century it was common practice to have your employer provide a pension plan for when you retired. There was a mutual but unspoken employer / employee loyalty that is unseen in today's world, and companies felt they were responsible for providing for you and your family in exchange for your years of hard work. Then everything changed. Companies suddenly didn't care about employees or their welfare as did in years gone by. Instead of a company funded plan, the 401k