I probably have linked this 2013 article before, and if so, it is worth linking again.
It should be evident by now 401(k)s are among the biggest scams ever created. They were never designed to help workers to get a secure retirement but instead were designed to save companies money when they ditched traditional pensions in favor of these sham accounts. They also are another form of wealth transfer, this time to the banksters while the little guys are left holding the bag.
People have no idea how much they would have to save to even approach a piddling pension like what I am getting now. It would be well over $100,000 just to have a monthly pension like mine of $306 and last thirty years. Of course, my pension will snowball thanks to cost of living raises.
About the only "wealth" most individuals and families have is tied up in homes, assuming they can afford them in the first place and have any equity in them at all.