This is stupid. Why do we need these private retirement accounts? We have Social Security and SSI. Seems like a way to expose poor people's money to Wall Street scams.
^^^
Another example of why we need finance classes.
^^^
Another example of why we need finance classes.
Seems like Wall Street hasn't fleeced these people enough by suppressing their wages with their profit obsession, they want a second shot at whatever is left.
You somehow think taking classes is going to give the common person an edge over a wall street broker with a doctors degree in math?
Some of us have jobs that do not allow us to watch the stock market 18 hours a day. Some of us do not get insider tips.
The playing field is heavily tilted towards wall street and the banks.
You somehow think taking classes is going to give the common person an edge over a wall street broker with a doctors degree in math?
Some of us have jobs that do not allow us to watch the stock market 18 hours a day. Some of us do not get insider tips.
The playing field is heavily tilted towards wall street and the banks.
Seems like Wall Street hasn't fleeced these people enough by suppressing their wages with their profit obsession, they want a second shot at whatever is left.
Seems like as good a time as any to repost this picture:
Everything the average joe needs to know about money can fit on a 3x5 index card:
In this case its the government fleecing prospective investors with low return rats(but its as safe as an investment can ever be). They are modeling the fund after the TSP. The TSP yields sub 3.0% return. This is basically a savings account that only/barely keeps pace with inflation. On the plus side there are no fees. On the downside, its aimed at the financially illiterate and it is not likely to help them all that much if any.
That's my angle on it. I'm sure the 401k and IRA legislation turned out to be a massive windfall of casino money to create more opaque financial instruments for Wall Street to squander away from us fools.
This wiil be round 2 to get the last sweepings off the floor.
Sex is common sense. We've got 7+ billion people on the planet as proof. The majority of which figured it out without government help. But we need to teach it to grade school children now. Surely we could spare a semester for the common sense of saving and investing.It's not like this information isn't out there. Do we really need a whole course to teach people it's a good idea to save for a rainy day? That used to be common sense!
Not sure what you're on about,
Sex is common sense. We've got 7+ billion people on the planet as proof. The majority of which figured it out without government help. But we need to teach it to grade school children now. Surely we could spare a semester for the common sense of saving and investing.
The TSP C-Fund is 7.12%, the S-Fund is 10.79%, and the I-Fund is at 8.39% for 10-year averages. Hardly "sub-3%".
So did you pull her out of that class? You don't know, she may learn how but she just might not want to.Some schools already teach that, actually. My daughter's high school does. But again, it doesn't matter. Like I said, you can teach people how to make smart financial choices, but you can't make them want to.
Quoted for truth.
This YOLO shit is going to cause the next catastrophic bubble. I just hope it doesn't occur when I'm about to retire
Sex is common sense. We've got 7+ billion people on the planet as proof. The majority of which figured it out without government help. But we need to teach it to grade school children now. Surely we could spare a semester for the common sense of saving and investing.
Shouldn't matter since your retirement funds should be somewhere safe by that time.
Shouldn't matter since your retirement funds should be somewhere safe by that time.
There is still time for the tail end of the baby boomers. GenX needs to start saving asap even though most of them have 20+ years until retirement. The millennials have even more time.
Shouldn't matter since your retirement funds should be somewhere safe by that time.