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Article:

Why Everything You Know About Saving Money is Wrong

Buying Small "Luxury Items" Isn't the Reason You Live Paycheck to Paycheck

An Issue That Impacts All of Us

Q: What are the implications for society at large? For public policy?

The Obama administration is admirably, through both the Department of Labor and the SEC, trying to get the fiduciary standard to apply to all financial advisors. This has been stymied by Congress for years. That would be a huge help, it really would.

And an open discussion about whether the 401(k) system even works and what could replace it would be very welcome. We have to acknowledge that this system does not work, and then come up with alternate plans.