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Yes, the 401ks are a big worry. The reason pensions and Social Security happened in the first place was to avoid the pitfalls of the stock market. Now  because the private sector could not handle the load of pensions we are back to the stock market and all its machinations. Many of the 401k plans don't allow for a lot of flexibility for the employee. Many just offer a reduced pre-selected group of sectors to play in which reduces management of the plan costs for the employer. The precipitous drop in real estate values here in the valley is another big worry. As property values plummet the disparity between ourselves here and other metro areas widen considerably, and those caught in an upside down payment situation abandon properties and obligations forcing the values into even lower depths. I guess it's great if you have a bunch of cash at your disposal to gobble up neighborhoods, but even investors are not looking into many of these houses because no one can afford the rents...
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