It’s actually better if the stock market is dropping as you’re just starting to put tons of money into the market. The market will go back up eventually, and it’s better to buy in while the market is low. If you’re < 40 you won’t be using your 401k/IRA for decades.

But yes, pensions were way better. They didn’t go away because they’re better for average citizens. They went away because it’s cheaper and easier for companies.