Excerpt: The differences between retirement programs and savings programs are very real, extremely fundamental, and politically incomprehensible to legislators--- so long as it's not their money. Retirement programs are income machines designed to support people, not to make them feel wealthy, investment savvy, or temporarily tax-free. Pension plans produce fixed amounts of monthly income that don't change appreciably when dot-coms, real estate, CDOs, or index funds (they're next) self-destruct. You just can't buy dinner or medications with currency futures, gold bars, or appreciated acreage.

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