The retirement system that is in place for members of Congress and other federal workers features what is known as the Federal Employment Retirement Plan.
Working for company X and having a substantial portion of your retirement plan in company X is simply exposing yourself to too much risk, because the company is both your employer and the source of your retirement income. So if something goes wrong, you lose both your job and your retirement plan.
A lot of the money in the stock market is really our national retirement plan, for better or worse.
The idea of working all your life, saving, and putting money into a retirement account is a very slow plan.
'Bernie versus Bernie,' for me, is these two extremes of capitalism. It's Bernie Sanders, the ultimate socialist, and Bernie Madoff, the ultimate capitalist.
Making college affordable is a really important goal, and my plan will work better than Senator [Bernie] Sanders' plan by everybody who has looked at it.
I feel that a great coach is one that has a vision, sets a plan in place, has the right people in place to execute that plan and then accepts the responsibility if that plan is not carried out.
Workers are most likely to save for retirement if they have access to a workplace savings plan and are automatically enrolled in that plan.
My financial adviser Ric Edelman...thinks the time to start educating people about money is when they are children. He's set up a retirement plan called the RIC-E-Trust that can provide retirement security. A $5,000 one-time tax-deferred investment at birth, with an average interest rate of ten percent compounded, means that a child would have $2.4 million when he or she is 65 years old. Who needs Social Security with that kind of nest egg?
The President has no real plan to address the fiscal challenges arising from the retirement of the baby boom generation, let alone a plan to fix Social Security.
If you're just starting out in the workforce, the very best thing you can do for yourself is to get started in your workplace retirement plan. Contribute enough to grab any matching dollars your employer is offering (a.k.a. the last free money on earth).
Absolutely invest in retirement. You can always get a loan to get kids through school. I do not know of any loans to get you through retirement. The markets are seriously low from where they were (even though they've gone up 30 percent recently). Now is the time to be dollar cost averaging; the more money you put in, the more shares you buy. Save for your retirement, people.
I was a stock broker once. I think there is an absolute place for market investments. But they should never be the basis of one's retirement. They should be an additional piece on top of a basic, secure, guaranteed retirement benefit.
At the heart of Erisa is the requirement that plan fiduciaries act with an 'eye single' to funding the retirements of plan participants and beneficiaries. This means investment decisions must be based solely on whether they enhance retirement savings, regardless of the fiduciary's personal preferences.