Excellent feedback. Thank you for taking the time to describe the process on the back end, as I do not know much about it.

I apologize if I made it sound like my employer (or anyone else's) was doing something wrong. My employer is amazing and I love the benefits I receive from them.

And you are correct that most people do not save at all and likely could not manage their own investments, but for those who have the desire to educate themselves, there are better alternatives.

If we look at what wealthy investors use as their money-making vehicles, it often revolves around real estate. Obviously it depends on specific circumstances, but I'd be willing to bet that in most cases, buying a rental property (especially if it contains more than one unit) and getting it paid off before retirement, then living on the cash flow from said property is a better return that most 401k investments.

I just wanted to start the conversation and I'm grateful for all of the people who have chimed in to discuss the merits of a 401k plan for MOST people.