Morgan Housel took a Business Insider contributor to task recently for arguing that 401(k)s were a rip-off for folks saving for retirement. "I found it to be profoundly bad advice, and it needed a rebuttal," says Housel.
Housel discusses the benefits of 401(k)s in the latest edition of Out On a Limb, arguing that they come with huge advantages that outweigh whatever drawbacks they may have.
Housel also addresses investors who claim they don't have time to investigate their company 401(k) plans. "This is something that could take you an hour per year that's going to set you up for the rest of your life."
Watch the video below for more of Morgan's thoughts. And to see his original article, check out "Terrible Advice I Hope Young People Ignore."