alt Hacker NewsVirtually all people who have worked and retired at oil and gas companies over the past 40 years had both a company pension AND a 401K. My dad has a paid off house and no bills other than utilities and taxes. He's pulling in over 80K a year in retirement, and he re-invests most of what he's being forced to pull out.
But now people working for profitable businesses can do mega backdoor roth contributions and still invest in the same VOO equities that the pension fund manager would invest in, but cut out all of the agency risk and not be tied to their employer.