The surest way to gain weight is to eat more. The proven way to stay in shape is to exercise regularly. And as simple as these facts are to grasp there are still many overweight and physically unfit persons in American today than ever before.
That is because Americans tend to want more. And wanting more isn’t essentially a bad thing. But it can become bad when we expect someone or something to bail us out from our own lack of planning and poor decisions. In fact, that kind of thinking can make you susceptible to the Retirement Curveball that many have been struck with.
Robert Shiller, Yale Professor, Nobel Prize winning economist and co-founder of the Case-Shiller Index recently commented on this Americanism while a guest on Squawk Box CNBC[i]
“Retirement will be difficult if you don’t save more, I don’t think people have reached that state of mind yet.”[ii]
That is a proven fact, yet millions of people either are not planning or continue to make poor decisions in their planning which will make it very difficult for them to retire.
At an investment summit in June 2015, Steve Forbes addressed the issue when he explained why Americans are facing a retirement crisis. The problem Forbes stated,
“Is that millions of Americans are losing up to 70% of their next egg to mutual fund fees.”[iii]
And Forbes is not alone in his analysis. Jack Bogle, founder of the trusted Vanguard Group has been asking for several years:
Do you really want to invest in a system where you put up 100% of the capital, you take 100% of the risk, and you get 30% of the return?” “One becomes thoroughly disgusted when one looks at the industry and what it’s charging and what it’s giving back. I’d do better to put my money in a mattress, it would seem, given some of these fees that people are paying.”[iv]
Fortunately there is a solution, and it is critical that you exercise your option today in order to avoid the permanent flaw that these fees are costing you. The good news is that you can recover the cost of these fees. And that means that when you save more, like Shiller encourages us all to do, you won’t be giving those fund managers who Forbes and Bogle have kindly alerted you about, a big pay raise at your expense.
There is only one solution to keeping more of what you make. And this one proven solution will prevent the Retirement Curveball from taking you by surprise. This one solution is often mocked and scorned by the ones making the most off your savings right now. But no worries, you don’t need those fund managers anyway to build a safe, secure savings for your retirement. All you need is some basic knowledge that used to be as common as, “If you want to lose weight, don’t eat as much,” and “Exercise regularly if you want to keep in shape.”
But what used to be common is not common today. And that is why I’m writing a new book, co-authored with my son, John, and Jack Cohen, CPA, called Retirement Curveball. It will show you everything you need to know to make your sure your retirement is a reality, not a nightmare.
Join us at the Wealth Summit in Las Vegas, September 22-24 for the release of the Retirement Curveball, and an exclusive interview with the authors on stage. And remember, “The surest way to lose weight is to eat less. The proven way to stay in shape is to exercise regularly.” And “The single most important thing to do to retire easier is to save more…in the right place.”