During his State of the Union speech last week, President Donald Trump took a victory lap, unveiling a new 401(k) for workers lacking employer-sponsored programs. But the proposal has one small snafu: Some people are digging into their savings just to stay afloat.
The proposal, a federal match of up to $1,000 annually for workers who lack access to employer-sponsored 401(k) plans, looks past a critical feature of American life: Who even has $1,000 to invest?
