Frontline: The Retirement Gamble
The Retirement Gamble is a 2013 episode of PBS Frontline, the documentary revealed a scary outlook on the state of retirement in the United States and exposed the big costs which come with with a 401(k). The documentary revealed that the majority of Americans that are close to retirement do not have enough saved to cover the typical lifespan of a retiree, and they have no ideas how to improve that situation.
The film also exposes how the 401(k) and 403(b) plans take billions from Americans in the form of fees with plan documents deliberately hiding some of these fees in the small print, and tells how successful lobbying by financial institutions including JP Morgan Chase and Prudential Financial have managed to prevent the U.S. Government from limit these fees. Ultimately the film exposes just how little Americans understand their retirement plans and that means that many will be working well into their 70’s.