With pension plans nearly obsolete and most employees relying on their companies' 401k plans to prepare for retirement, many Americans may not know how to invest their money into these plans and the associated costs and fees that go along with that. In the new Frontline special, "The Retirement Gamble," Frontline correspondent Martin Smith investigates how to best navigate the country's retirement crisis.
"The options that the financial services industry is giving us are not good ones," Smith says. "Many 401k plans are very bad. The fees on the funds, the choices on the funds, all go against us. And most the people who are giving us financial advice ... are in fact, not people who really have our back."
Frontline is produced in partnership with WGBH Boston Public Radio and airs on Tuesday night on local PBS stations.