It also wipes out the opportunity for future retirees to benefit from market corrections which are historically how most wealth for middle class retirees is built. So you've now sacrificed far more future retirees accounts for those who shouldn't have such high market exposure that they are hurt by a correction.
If this isn't a wake up call that individuals have no business managing their own retirement, I don't know what is.
If this isn't a wake up call that individuals have no business managing their own retirement, I don't know what is.