This reminds me of a conversation I overheard at the table next to us a couple of years ago while DW and I were eating lunch. There were four guys sitting there, all looked to be in their 20's or 30's. They appeared to be auto mechanics as they were all wearing work shirts with the name of a nearby car dealership.
They were discussing their company 401k plan and how they weren't going to participate even though the company had some sort of a match. The reasoning a couple of them gave was they couldn't afford to give up anything from their paycheck and it was hard to get your money out if you needed it, etc.
One of the youngest spoke up and said he was going to participate. His dad had talked him into it so he could get the company match. I thought, good, at least one of them 'gets it'!
Then he went on to say his dad told him it was a savings account so he could withdraw it after five years (vesting?) and use the company's money to help him buy a new truck.