Many employees of state and local governments in the U.S. are expecting a financially “comfortable” retirement. But, a big shock likely awaits. Here’s a sobering perspective. https://www.youtube.com/watch?v=JX6Qx06hOjQ
BY JOHN MAULDIN I’ve talked much about the looming pension crisis lately. The bad news is that the problem is approaching a breaking point, and yet everyone seems to ignore it. The good news is we’re starting to get data that …
BY PATRICK WATSON The US economy is growing but corporate profits are not, according to data released last week. That’s disappointing for stockholders. On the other hand, we just saw a string of years when profits outpaced economic growth by a …
Here is today’s articles mentioned in this news update: 1. 61% of Americans have no idea how much they’ll need to retire—and it could leave them broke https://www.cnbc.com/2018/06/07/ameri…
This week, financial advisor Mike Mitchell answers a listener question: “I have a 403(b) retirement plan with $250,000 in it. Can this amount be rolled over to another self-directed retirement vehicle?” – Ben B. (FTM Platinum Member) According to Mike …
by COMPUTER1313 https://www.bloomberg.com/news/articles/2018-05-29/the-world-isn-t-prepared-for-retirement …take a look at this question—which only 45 percent of people around the world got right: Q. Do you think the following statement is true or false? “Buying a single company stock usually provides a safer return …
Here is today’s articles mentioned in this news update: 1. 43% Of Millennials Plan To Quit Their Job Within 2 Years https://www.forbes.com/sites/zackfrie… 2. Millennials will depend on Social Security in retirement, just like their parents https://www.bankrate.com/retirement/m… 3. 53% of millennials …
by Simon Black Last week, the financial services giant Northwestern Mutual released new data showing that 1 in 3 Americans has less than $5,000 in retirement savings. It’s an unfortunately familiar story. And Northwestern Mutual’s data is entirely aligned with other …
Watch the latest video at video.foxbusiness.com From Fox Business: Reports of Americans feeling underprepared for retirement seem to be an understatement, according to new data. A report from Northwestern Mutual has found that one in five Americans (21%) have no retirement …
by jasonlong1212 Model: I wish to maintain a portfolio that began in June 2017 at $1,025,772. My maximum withdrawal rate is 3% of each year’s starting balance, provided that the portfolio remains above $1M. Should the portfolio drop below $1M, …
You thought $1 million would be enough to retire on with no worries. But it turns out that isn’t true any longer. Since all of our expenses have gone up, but our retirement nest-egg hasn’t, we have encountered a troubling …
by Richard Rosso Are you prepared? Most important: Are you aware? Aware of the common mishaps and misperceptions that may curtail a happy & healthy retirement? The Real Investment Advice and Clarity Financial pre-retirement preparation checklist can help identify potential …
via St. Louis Fed: As baby boomers age, significant debate has emerged about whether there is a retirement crisis developing in the United States. Some argue that the retirement situation is poor for many Americans, with many approaching retirement age …
by hokutenkishidan The report is based on an analysis of the 2014 Survey of Income and Program Participation (SIPP) data from the U.S. Census Bureau. It examines the distinct challenges posed by the current retirement system in America for working …
by workerdaemon Here is how I’m prioritizing the distribution of our household income: Max 401k (has 50% employer matching) Max IRA Save 1 month’s worth of bills (I have enough access to credit to handle worse scenarios) Pay down 10.75% …
from Financial Survival Network Boston University’s Professor Laurence Kotlikoff returns… There’s a retirement crisis that’s about to hit the country. Whether you’re a retired/retiring government worker, a social security recipient or perhaps a millennial who’s expected to pay for it all, it cannot …
by Dennis Miller Remember how excited you were when you got your first “real job”? It was early January and I was fresh off active duty. I began washing cars at an auto dealer – for $1.00/hour. I’d wash off the …
From CNBC: Calling someone cheap is not often a term of endearment, but it has become exactly that in the investment industry. According to Morningstar, more than 95 percent of all U.S. retail investments made since 2005 were in the cheapest …
By Charles Sizemore There’s no magical age for retirement. The fork in the road doesn’t suddenly appear at age 62, 67, or 70. It’s here right now, TODAY… no matter how old you are. That’s because whether you’re 40, 50, 60, …
https://www.youtube.com/watch?v=KV9HRNEJnLg Lucian Wintrich for the Gateway Pundit reports, In a hilarious piece that just goes to show how ignorant modern-day millions in America are, Salon.com is reporting that they aren’t even bothering to save for retirement because they believe capitalism …
If you’re in debt and actually want to get out, what do you do? Ask your corporation for help? Demand your government give you money? Or do you do what needs to be done? Never be afraid of hard work. …
McCabe tried to frame an innocent man with ZERO evidence. He should be in jail. To hell with his pension. https://www.youtube.com/watch?v=LZcrdjSNyds https://www.youtube.com/watch?v=LZcrdjSNyds https://www.youtube.com/watch?v=LZcrdjSNyds https://www.nytimes.com/2018/03/14/us/politics/andrew-mccabe-fbi-firing-recommendation-justice-department.html https://www.nytimes.com/2018/03/14/us/politics/andrew-mccabe-fbi-firing-recommendation-justice-department.html https://www.nytimes.com/2018/03/14/us/politics/andrew-mccabe-fbi-firing-recommendation-justice-department.html
66% of Millennials have nothing saved for retirement Most Millennials are not on track when it comes to saving for retirement. That’s no surprise. After paying bills, rent and making student loan payments, there’s often not much leftover each month …
RTD News keeps you up to date on what’s happening around the globe. Thanks for watching this important update, “The Retirement Fallacy: 42% of Americans Are At Risk of Retiring Broke”. News Articles here: 1. How Retirement Was Invented https://www.theatlantic.com/business/… …
by FS The United States is facing a retirement crisis, as many of today’s workers will lack the resources necessary to retire at a traditional age and maintain their standard of living. This time on Financial Sense’s Lifetime Income Series, …
QE robbed a generation of their retirement. now they’re taking all the jobs away from new entrants. LF participation of 20-24yr olds=lowest in 45 years and for 18-19yr olds it’s stuck at the lowest in history. Wait. I thought earnings …
Most people know they should be saving for retirement. But what people ought to be doing and what they’re really doing is starkly different: One-third of the people in the workforce have not saved for retirement, and 23% have less …
BY SRSROCCO For the U.S. Retirement Market Ponzi Scheme to continue, there must be a new group of suckers to pay for the individuals who are receiving benefits. Without a new flow of funds, the Ponzi Scheme comes crashing down. Such …
BY SRSROCCO While the highly inflated value of the U.S. Retirement Market reached a new high this year, something is seriously wrong when we look behind the scenes. Of course, Americans have no idea that the U.S. Retirement Market is only …
by Michael Snyder Did you know that approximately 40 percent of all American workers have absolutely nothing saved for retirement? And did you know that pension funds in the United States are currently underfunded by about six trillion dollars? …