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Subject:  Re: trouble ahead for most future retirees Date:  3/1/2013  10:23 AM
Author:  RetiredVermonter Number:  71461 of 88511


...the vast majority of people have no discipline, education, or patience when it comes to investing. Some of that is their fault, some of that if the fault of our society that both provides no education (mandatory or otherwise in high school), and encourages people to not educate themselves by having the employer handle much of it through target date funds.

And why is that, do you suppose?

I have long stated that our "education" system tends to try to perpetuate lofty goals of "broadening" students, while too often not teaching them anything really useful, except in the sciences!

I may be biased. I worked my way through college many years ago, working night and day, because I was told I needed a degree to get a job. Great. I memorized a lot of what I thought was crap, spit it back on tests, and soon forgot it because it was of little real use. I'm not proud of that, but it's how it was and is. Yes, it was in "liberal arts".

I did pretty well, but my career was in a field in which almost everything I needed and learned was via OJT. The degree was really pretty useless, except to get my foot in the door.

In any event, it seems to me that we're now seeing an especially pathetic and sad tragedy in which countless thousands of kids are incurring HUGE debts to get degrees, only to then find they often have little or no real training in much that they can use in the workplace, but they still must repay those huge debts!

You won't find the colleges seeking to tell them otherwise, either. After all, they make their money by sucking in all these students!

Call me a cynical old curmudgeon if you like. I just smile.

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