[rickydroll]

> The question is whether 401k plans and job-hopping still works out in the end.

It can, but it is a fragile "still works out in the end." It fails when a damaging event occurs near the time you need the money, such as a late-in-life divorce, job loss, illness, or financial collapse of investment vehicles. Winning at the 401(k) game means enough people losing their money through unlucky investments, and you get a cut of their losses.

Thought experiment: imagine everyone had enough income that they could save 10% in a 401 (k). BLS numbers say 10% of us wages is 1.1 trillion. Can you imagine the impact on the stock market if it received $1.1 trillion every year for 30 years? Where would that money be invested?