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More Than Half of Retirement Savers Don't Know This

johnNjohnN
edited January 2020 in Fund Discussions
More Than Half of Retirement Savers Don't Know This


/You might be missing the very information you need to succeed in retirement.
Catherine Brock

Running a marathon without training is a bad idea. Same goes for betting your last $100 on lucky 17 at the roulette table, or trying to save for a comfortable retirement when you know little about investing. The odds of coming out ahead all around are pretty low./

https://www.fool.com/investing/2020/01/29/more-than-half-of-retirement-savers-dont-know-this.aspx





•••I do believe most or more than 95% of regular MFOers know about diversification distributions and reimbursements issues regarding investments firms /investments related issues

Comments

  • Gary1952
    I would hope more than half here know this.
  • hank
    edited January 2020
    (From John’s link) “In a recent survey, Schroders Investment Management questioned 1,004 men and women aged 45 to over 70 about retirement planning. ... Some 55% of respondents admitted they didn't know how their assets were allocated.”

    This might explain that: Vanguard: More than half of DC participants investing solely in target-date funds Story

    Makes sense to me that if someone who is not financially inclined defaults to their 401-K (or other employee plan’s) target date fund they would not be able to explain the “ins & outs“ of how that fund invests. Seems to me those funds are designed for precisely that kind of individual.

    It would be nice if they all became fund junkies like most of us here - but that is not the reality. I don’t think any amount of citizenry education is likely to alter that. However, as one moves from contribution years to distribution years it’s likely their interest in financial matters grows. Experience on this forum testifies to that subtle transition,
  • MarkMark
    While I firmly believe that at least 50% have little clue as to what they are invested in or how their investments operate I also believe that 50% quite possible are unable to find funds available to invest at all. I know I sailed on that second boat for a long time even though I knew it wasn't where I should be. Supporting a family gets in the way sometimes.
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