Financial advisers chose the wrong late-night show host to try to bamboozle with complicated retirement plans full of hidden fees.
Not to ruin brunch, but Mom's probably not doing very well. Not if she's already retired, not if she's a baby boomer approaching retirement, not if she's a younger woman who hasn't yet given retirement a thought.
The essential fallacy of the 401(k) has been exposed. It took a historic market collapse -- one that threatens to impoverish workers already in retirement and those who are nearing it.
Those who think they will retire in Fat City because they have a 401(k) may be headed for a bitter disappointment. The system's rules are flawed, and Washington should reform them.