https://www.youtube.com/watch?v=Pju_K-skPnsFirst they are comparing it to pensions, which is valid enough. (They later explain that the 401(k) was intended as a supplement, not a replacement, for the pension.)
They mention fees, and throw up a quick reference text, but do not explore that further. (Later, they recommend you stick to index funds in your 401(k) for lower fees... they don't mention how that might affect risk compared to their earlier individual stock picking jokes.)
It talks about how easy it is to "pick bad investments." That can be true - the aforementioned fees, plus the fact that most people really do have no idea how to even pick a good index fun are challenging.
Then he talks about the risks of stocks and bonds, and states that "people on the brink of retirement were screwed
even if they did everything right."
To the above two points, I'd say... most 401(k)s offer a reasonably good target retirement fund that alleviates both of the above issues.
Onward, he says "saving 5%" of your paycheck isn't enough (even though the actress said her employer matches that 5%) because you need to save 10%-15% and goes on to talk about lots of things unrelated to the 401(k).
They also compare learning to manage your 401(k) and investments to doing self-dentistry. (Umm... one thing can be learned in a week, and practiced safely for life. The other should probably only be done in dire emergencies when you have no other option!)
