A Quote by Steve Bartlett
Pension reforms, like investment advice and automatic enrollment, will strengthen the ability of Americans to save and invest for retirement.
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It has long been said the only things in life that are certain are death and taxes. Automatic enrollment for insurance of 401k loans would add an additional certainty. Fewer Americans would suffer the unnecessary loss of retirement savings due to unanticipated and untimely misfortune in an already stressful time of need.
Our nation's Social Security Trust Fund is depleting at an alarming rate, and failure to implement immediate reforms endangers the ability of Americans to plan for their retirement with the options and certainty they deserve.
Each year more than 100,000 high school graduates, with proved ability, do not enter college because they cannot afford it. And if we cannot educate today's youth, what will we do in 1970 when elementary enrollment will be 5 million greater than 1960? And high school enrollment will rise by 5 million. College enrollment will increase by more than 3 million.
If Britain is to have a stable, affordable pension system, people need to work longer, but we will reward their hard work with a decent state pension that will enable them to enjoy quality of life in their retirement.
One state retiree, 49 years old, paid, over the course of his entire career, a total of $124,000 towards his retirement pension and health benefits. What will we pay him? $3.3 million in pension payments over his life and nearly $500,000 for health care benefits - a total of $3.8m on a $120,000 investment.
The issue of the pension gap has got to become visible and important to millions of people before Washington will respond seriously. Right now, everyone thinks it's his or her own problem and that individuals have to do better and save more. Of course, that is true. We all have to save more and take responsibility for our own retirement. But we have a huge social and economic problem on our hands.
The universe is like a pension plan. It will match your investment.
We invest in things like the future, like our children, like education. In other words, we invest in things that we understand we will not see an immediate return of investment but everybody knows it will have a positive impact and you can easily measure it over the course of time. Your why is exactly the same thing.
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.
There's no automatic mechanism in a market system that reconciles the desire to save and the desire to invest. And therefore, the government has to sort of do something or the Federal Reserve, the Fed, or the Central Bank, or whatever, it has to intervene. It has to create enough investment for the economy not to suffer from a fall in aggregate demand. So, if you don't have a balance within the market system itself, then you need an external balance and that's what I think Keynes believed.
The value of market esoterica to the consumer of investment advice is a different story. In my opinion, investment success will not be produced by arcane formulae, computer programs or signals flashed by the price behavior of stocks and markets. Rather an investor will succeed by coupling good business judgment with an ability to insulate his thoughts and behavior from the super-contagious emotions that swirl about the marketplace.
I can guarantee you this, that more pension and benefit reforms which I will consider arbitration reform to be one of them, are things that when they come to my desk, they will be signed.
I would hope that we could have this in an adult fashion and stop demagogueing the issue anytime you talk about any substantive reforms that will actually save social security and save Medicare and save the system from imploding on itself.
If only the majority of the wealthiest top 10 percent of Americans own stock directly - which does not include pension and retirement accounts - then the divide between rich and poor is likely to expand.
Accepting good advice means nothing other than to strengthen one's own ability.
Old men are always advising young men to save money. That is bad advice. Don't save every nickel. Invest in yourself. I never saved a dollar until I was forty years old.
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