Robinhood IRA Match Can’t Take the Place of a 401(k)
Some savers might benefit from a new batch of app-based retirement accounts, but Americans shouldn’t be left fending for themselves for their post-work years.
Getting into the match game.
Photographer: Scott Olson/Getty Images
Everyone should have access to a quality retirement plan. That should not be a radical statement. People deserve to age with dignity and not worry about outliving their savings or paying for necessities like shelter and food.
Yet tens of millions of American workers don’t have access to pensions or 401(k) plans through work. That means they are on their own when it comes to planning and saving for their retirement years. While many depend on Social Security, the average $2,000 monthly payment is rarely enough to support a good quality of life.