[logicalmind]

401k plans typically consist of employee and employer matching contributions. But in any case, the things that stops you from fully accessing this money of your own free will are laws. Laws can be changed. I'm just wondering if today we're being as naive about 401k realities as people were about social security and pensions a generation, or two, ago.

[jbtule]

Employer money is going to be a smaller amount of your 401k, if offered, and not always guaranteed, as sometimes subject to vesting so you wont' necessarily get it, but even so that's a stark contrast to pensions and social security, where all of your money is coming from someone else in the future.

[logicalmind]

I don't really see it as a stark contrast. Pensions and social security may be accounts where money is coming from someone else in the future. But a 401k is only semantically different. You do not own your 401k account in a real sense. That money is locked and kept away from you. You can only withdraw that money according to the rules in place at the time of the withdrawal. If you wanted to take that money out now, you would be paying the penalties in place that exist today. In 20+ years from now, when you intend to withdraw, you will be doing so with the laws in place at that time. And what those laws will be are unknown at the time. The same as current conditions were unknown to partakers in pension funds and social security a generation, or two, ago.

[jbtule]

Tax consequences related to withdrawing your own money is very much a stark contrast to, whoops this money we promised you doesn't exist.