We watched this last night, and found it fascinating. I'm sure we both experienced this when we were employed and not in control of which brokerage house oversaw our 401k's, but they've now all been rolled into accounts we direct, absent a broker.
Those who have the knowledge really are in control, aren't they? That was the most troubling part of this show for me. No one but us really has our best interest at heart.
The unwillingness of so many Americans to live sufficiently below their means in order to set aside adequate funds for retirement is troubling as well. When I compare our austere early earning years, which included 10% to savings, with what my daughters appear willing (or unwilling) to do, it's tremendously frustrating. If anything, though, it continues to convince me that very few people are victims. Most of us have the exact financial lives we've created through a lifetime of good or not-so-good decisions.
I think it is very difficult for most people to figure out what to do with their retirement or other savings. I spent part of today trying to find out the management fee for our retirement fund and still haven't found it although I do know it is low for the industry. We also know we have chosen the risk of inflation eating up our money vs. the stock market gamble. Scary at times because when you are in your later years of retirement you can't fix any of this!
Thanks for the tip on The Family CEO; checked it out and it looks like a good site. I agree -- saving and investing for retirement is like another fulltime job!
It's hard for those in the middle class earning enough just to pay their bills to put away more than 10% of their incomes to the future. Now it's almost a requirement to put away 15 - 20% of your gross. With rising healthcare and other expenses, I just don't know how people are going to do it. I see a disaster waiting to happen, for sure.
We watched this last night, and found it fascinating. I'm sure we both experienced this when we were employed and not in control of which brokerage house oversaw our 401k's, but they've now all been rolled into accounts we direct, absent a broker.
ReplyDeleteThose who have the knowledge really are in control, aren't they? That was the most troubling part of this show for me. No one but us really has our best interest at heart.
The unwillingness of so many Americans to live sufficiently below their means in order to set aside adequate funds for retirement is troubling as well. When I compare our austere early earning years, which included 10% to savings, with what my daughters appear willing (or unwilling) to do, it's tremendously frustrating. If anything, though, it continues to convince me that very few people are victims. Most of us have the exact financial lives we've created through a lifetime of good or not-so-good decisions.
I think it is very difficult for most people to figure out what to do with their retirement or other savings. I spent part of today trying to find out the management fee for our retirement fund and still haven't found it although I do know it is low for the industry. We also know we have chosen the risk of inflation eating up our money vs. the stock market gamble. Scary at times because when you are in your later years of retirement you can't fix any of this!
DeleteThanks for the tip on The Family CEO; checked it out and it looks like a good site. I agree -- saving and investing for retirement is like another fulltime job!
ReplyDeleteIt's hard for those in the middle class earning enough just to pay their bills to put away more than 10% of their incomes to the future. Now it's almost a requirement to put away 15 - 20% of your gross.
ReplyDeleteWith rising healthcare and other expenses, I just don't know how people are going to do it. I see a disaster waiting to happen, for sure.