Yeah, I don’t think it’s that. I agree people don’t save, and I’m sure there are a myriad of reasons for that, from bills to bad financial planning, but largely saving for retirement is a lost cause. I’ve put 15% in my retirement account since I was 19 and am projected to be short in retirement because the market average return is so close to inflation that my money won’t appreciate significantly enough to retire. Additionally, if I wanted the returns needed to make money on my retirement account I would need to invest in a disproportionate amount in high risk stocks, which isn’t sustainable.
I’ve resigned myself to working until I die with my retirement going to fund my childrens’ 401ks.
Yeah, but that just speaks to the trust the common man has to the 401k. Like New Jersey is one example of a retirement fund being mismanaged, and it’s only one out of many. If people see this, they lose trust in the funds, and won’t put in the money. That trust es mui importante, word to Spain.
The US financial industry needs a good cleaning if you ask me. There are too many dark pools, unwise and unethical investments, as well as a culture of nepotism, narcissism and greed. The 500 index is no longer viewed as a secure and stable index, mostly because of unwise and risky investments, but also because of the affirmationed nepotism.
These are actual problems, symptoms of wider corruption. That people lose trust in them is just a matter of course.
There’s definitely some shady shit various financial companies have done, but it’s not the main problem apartfrom pension funds. Pensions absolutely got screwed by companies able to use overly optimistic investment forecasts. The far bigger issue for individual retirement is that people are addicted to spending, and will go to insane lengths to justify that spending. What they need to do is continued and consistent investment over decades, but instead people will buy into scams or try to time the market to “catch up.”
It’s more nobody wants to actually save money. Pension funds were massively underfunded, people didn’t self fund with ira/401k.
Yeah, I don’t think it’s that. I agree people don’t save, and I’m sure there are a myriad of reasons for that, from bills to bad financial planning, but largely saving for retirement is a lost cause. I’ve put 15% in my retirement account since I was 19 and am projected to be short in retirement because the market average return is so close to inflation that my money won’t appreciate significantly enough to retire. Additionally, if I wanted the returns needed to make money on my retirement account I would need to invest in a disproportionate amount in high risk stocks, which isn’t sustainable.
I’ve resigned myself to working until I die with my retirement going to fund my childrens’ 401ks.
Yeah, but that just speaks to the trust the common man has to the 401k. Like New Jersey is one example of a retirement fund being mismanaged, and it’s only one out of many. If people see this, they lose trust in the funds, and won’t put in the money. That trust es mui importante, word to Spain.
The US financial industry needs a good cleaning if you ask me. There are too many dark pools, unwise and unethical investments, as well as a culture of nepotism, narcissism and greed. The 500 index is no longer viewed as a secure and stable index, mostly because of unwise and risky investments, but also because of the affirmationed nepotism.
These are actual problems, symptoms of wider corruption. That people lose trust in them is just a matter of course.
There’s definitely some shady shit various financial companies have done, but it’s not the main problem apartfrom pension funds. Pensions absolutely got screwed by companies able to use overly optimistic investment forecasts. The far bigger issue for individual retirement is that people are addicted to spending, and will go to insane lengths to justify that spending. What they need to do is continued and consistent investment over decades, but instead people will buy into scams or try to time the market to “catch up.”