During the day I realized just how perverse our system has become.

We have moved from defined benefit retirement plans to defined contribution retirement plans.  Sure defined benefit plans weren't always working the way they should--many plans went under and had to be picked up by the PBGC who reduce scheduled payments to the retirees--but a defined contribution plan leaves future retirees wondering if they've saved enough to retire.  Most haven't.

Most of us have a hard enough time getting our work done and having some time for ourselves.  We aren't trained to properly invest for retirement and don't have the time even if we are.  This makes us easy marks with lots of cash we aren't using right now.  We won't know if our "investments" have paid off until we try to retire on them.

Costs get pushed down the food chain.  While investments needn't be a zero-sum game most retirement investments are done in aftermarket transfers.  This means the money we use to buy a stock isn't increasing the investment dollars available to the company whose stock we buy but into the hands of the prior investor who sold the stock.  It's a zero-sum game as far as the company is concerned.  Those who have the time to make more informed decisions will win over those who don't have the time or skill to do so.  The effect is a concentration of wealth in the hands of those who can play the game from those who are just trying to prepare for their retirement.