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No. of Recommendations: 2
Here is a radical concept. Just because you are a subscriber to the Motley Fool and may even know something or to about analyzing companies, does not mean that you can take care of your own retirement. Sorry to be the bearer of bad news.

My personal opinion is that most people are full of wind about their abilities, and only a few actually can beat an after tax return of 8% (which virtually every pension program guarantees). If you are beating that, good for you but you should save your rhetoric for the millions who just can't do it. Most people know absolute JACK and YOU are going to likely pony up a portion of your money (that you earned with your superior investing expertise) to subsidize their welfare.

Don't kill the messenger. Your employers have drastically reduced your benefits and told you how much better it is for you and you all have fallen for it hook, line and sinker. Its OK, so has the rest of America. I hope I turn out to be wrong, but do any of your companies provide advice about how to invest your 401(k)? What is in place to ensure that retirement needs are met?

Who knows whether or not they will outlive their savings? It would be a real b1tch if you run out of money at age 95 and can't pay the rent. As a retiree, how much should you annuitize? What if there is one or two bad years in the market? Is anybody being counseled by their employers about how to deal with these risks that they are now borne with?

The people who get counseling are the rich who don't need it as much as the rank and file. Unfortunately, if the rich have problems managing their money, it won't drain the economy as much as if the rank and file have a problem. It will affect us sooner or later.
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