Most people are going to arrive at retirement and not have adequate money. This is serious. None of us are good at doing our own retirement savings.

It looks like we're doing as well as we've always done. But in fact, the world has changed. And it's for four big, real obvious reasons.

With public employees, the day of reckoning is more in the distance.

It's an entirely new phenomenon for healthy companies to freeze their pensions.

People will be scrambling at a time when they should be secure.

Everybody is having a terrible time. Nobody is enjoying much in terms of growth in net worth. No one has enough to support themselves in retirement for 20 years.