Herb Kohl, chairman of the Senate special committee on ageing, was on Wednesday set to go one step further and propose a law that would discourage people from dipping into their 401(k)s before they retire, which can seriously reduce the pot of money they have to live off in old age.
Do you know what else can seriously reduce the pot of money you have to live off in old age? Not living until old age!
I suppose it's human nature to preference one over the other when the need arises. Admittedly, this is less often for senators, who don't face medical bankruptcy, for example.