[mywittyname]

> I bet poor investment planning

Or good investment planning. I only recently built up savings after spending my entire career maxing out 401ks. If I was laid off, I'd only have like 6 months or so of savings before I run out despite having a coastFIRE/leanFIRE NW.

Yes, there are hardship withdraws from 401ks, but the older you get, the more retirement account means retirement account. Meaning, it becomes more clear that the money in that account needs to be left alone until things get dire. You're not going to be more employable in 20 years.

[eudamoniac]

A 401k and an IRA together constitute only $31,500 this year, and less in each previous year, before taxes. That shouldn't be the main factor. FWIW I was including those accounts in my 'savings' number.