According to a recent Harris poll, only about a third of workers in the U.S. will have enough money saved to retire in comfort. Twenty-seven percent don't expect to have enough saved, and 39 percent aren't sure. According to the survey, less than half, or about 45 percent of workers, do participate in a 401(k) or 403(b) plan. Fourteen percent have the option but do not participate, and 35 percent are not given the option by their employers.
And although the 401(k) is a good way to save for retirement (and can yield a bigger benefit than a traditional pension plan if done right), Americans are still not very good at saving for retirement. Statistics show that nearly half of U.S. workers cash out their 401(k)'s when they switch jobs instead of rolling the accounts over.