Another NY Times piece that is so important! Please take a few moments to read and then forward to everyone you know,especially those just starting their careers. As the article says, if you are a baby boomer and not already saving aggressively, you are in serious stew already!
If you think the advice you’re being given by someone who wears a fancy suit and works for one of the behemoth firms, or banks, that we are all familiar with is in your best interests, have a gander at this article in the NY Times. If the balance in the retirement account isn’t doing what you might have hoped, there might just be a reason for it! That’s the reason behind what I’m doing here. The money management industry is slanted towards the benefit of those that work in it, not for the client! That they’ve been able to get away with it for all these years is a travesty that’s being imparted on the middle class of this country. It’s high time that people were made aware of what’s been happening to them all these years, and more importantly, do something about it! Get someone who has no conflicts and nothing but your interests in mind and let them guide you towards investments that are going to give you the best chance of growing your money, without the haircut of your financial services firm taking a % that helps pay for their fancy country club memberships. Can you tell I’m a little annoyed about the situation? It’s been going on for years and IT”S NOT RIGHT!
As if the state of retirement planning wasn’t depressing enough, the NY Times piece from the front page of this Sunday’s paper is pretty darn disturbing! I know that this area is pretty intimidating for a lot of folks, but please people, become more informed about your finances, because stories like these are going to become more prevalent in the near future. If you don’t have the knowledge to dig a bit into your planning, find someone who does. It’s imperative that you have whatever funds are earmarked for your future working as hard as they possibly can for you. Don’t ignore this please, it’s your future standard of living that’s at stake here!
This NY Times review of a retirement planning book, for those over 50, or just approaching that age, is really worth your time!
Ever wondered about that charity you’re donating money to….