Retirement Planning

An article on MSNBC kicked around an idea that some people are generally dissatisfied with the 401k system, which makes sense in a tough economic time.  You tell people they have to invest for their own retirement, you only let them invest in the options their employer gives them, you don't adequately disclose or control fees to participants.  Ultimately, the real problem is that you don't make people feel all that secure in their retirement prospects.

While the article kicked around an alternative that was little more than expanding social security, I think the problem should be approached from a whole new angle.

What makes people feel secure?  I think most people would actual answer that tangible assets make them feel most secure, and the American dream has never hinged on having a large 401k, it has been about owning a house.  And I'm sure a lot of people would feel more secure in their later years and in retirement if they knew they owned their house.  You don't really care if your house loses value as long as you can live under your roof.  And the best one of all, this could be the very first perk that the rich wouldn't be all that excited about.

So why don't we start a movement and push for pre-tax mortgage payments?  It's fine if you want to take away my mortgage interest deduction because I'll be getting a mortgage and principal interest deduction.  It encourages everything good and solid about saving and investing over the long term and if your paycheck can't cover your mortgage payment then maybe some of the people who got approved for loans never would have gotten approved.