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URL:  http://boards.fool.com/katiewa-asks-ltltand-we-have-abundant-30666578.aspx

Subject:  Re: The 401(k) World Date:  5/3/2013  5:08 PM
Author:  intercst Number:  72165 of 75383

katiewa asks,

<<And we have abundant evidence that, left to their own devices, a very large share of middle class savers will make the wrong choices.>>>

Why is that, do you suppose? Why are my husband and I (along with most here) so abnormal?

</snip>


The average person can't balance a checkbook and has no idea of what compound interest is. The people who frequent TMF, Morningstar, Bogelheads, etc. are probably in the top 5% of financial knowledge.

If we don't come up with some way to keep the large majority of the population from being swindled by Wall Street and the insurance companies, the minority that did invest wisely will end up supporting them in retirement through higher taxes.

intercst
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