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Pew: Wealthiest Experience Big Boost In Post-Recession Worth
Somewhat related- PBS "Frontline" special tonight (Tuesday) "The Retirement Gamble" - Catch it if you can. Looks interesting. Gets into mutual funds & fees. Sorry OJ - didn't think this deserved a separate thread. ... As I see it, all part of the same trend. Kill off professionally managed defined benefit plans and expect a car mechanic or otherwise skilled tradesman to manage mega-dollars in a self-directed retirement plan. Yeah! Wanna buy a bridge?
Reply to @hank: "Kill off professionally managed defined benefit plans and expect a car mechanic or otherwise skilled tradesman to manage mega-dollars in a self-directed retirement plan. Yeah!"
Exactamundo, Hank. I was looking at a Google Earth overview of my town the other day, and it popped into my head that every one of those homes down there has to have at least one person in it who's spent beaucoup time figuring out an investment plan and monitoring and tweaking said plan, if this brave new world is to work at all. Fat chance ...
Martin Smith, the main Frontline guy, seemed to have a very depressing epiphany about his own retirement in that PBS program.
Reply to @AndyJ: Show came on very late where we were (traveling) and I nodded off sometime after they featured John Bogle. Hope program was OK. I certainly agree with the thrust of where they seemed to be going. If the wealthiest were also suffering along with the salaried workers and the like, I'd understand this better. but as OJ's original piece mentions, the disparity in wealth's been growing for a long time now. Not so much class warfare as I see it as just having a level playing field. Tax laws appear to be tilted In one direction - which reminds me of a link I wanted to post - if can find it.
Reply to @hank: The program was pretty good ... M. Smith caught some finance types in an embarrassing moment here and there. Asking about a fiduciary standard for advisors brought out the most dissembling, hemming & hawing, etc.
He did get off on a bit of an indexing rabbit trail via Jack Bogle ... index funds beat actively managed funds, so no one should in invest in the latter, was the general message ... making, once again, the critical mistake of equating the average active fund with all active funds.
Comments
Exactamundo, Hank. I was looking at a Google Earth overview of my town the other day, and it popped into my head that every one of those homes down there has to have at least one person in it who's spent beaucoup time figuring out an investment plan and monitoring and tweaking said plan, if this brave new world is to work at all. Fat chance ...
Martin Smith, the main Frontline guy, seemed to have a very depressing epiphany about his own retirement in that PBS program.
He did get off on a bit of an indexing rabbit trail via Jack Bogle ... index funds beat actively managed funds, so no one should in invest in the latter, was the general message ... making, once again, the critical mistake of equating the average active fund with all active funds.