I read a book recently which addressed this subject. The book argued that the introduction of the 401k plan led to the demise of personal retirement savings. Since companies no longer were responsible for paying their employees through retirement (traditional pension), people for various reasons failed to grasp the importance of putting money away. The book is called "Who Stole the American Dream?" and offers a fascinating history of jobs in America and the evolution of the "American Dream." You can grab a copy here or if you have a Kindle and you'd like to borrow the book from me, let me know via Twitter. Thanks for sharing!