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Your Financial Reckoning Day Is Coming . . .

For those familiar with the title this is not a review of the book by Bill Bonner of the same title (although I highly recommend you read it). This is about a day of financial reckoning for a lifetime of decisions that you have made financially. In other words, the day where you finally realize that all (or most) of the decisions you have made about money over the course of your life either worked or didn’t work.

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Why I Don’t Invest In The Stock Market

This article appeared online at www.johncolanzi.com

Why I Don’t Invest In The Stock Market
by John Colanzi

I’m tired of hearing everyone from the President on down telling me to invest in the stock market.

If you want to help build America, invest in your business. This country was built by small business men and women.

I don’t invest in the stock market because it’s out of my control. I don’t determine how the company is run or where their profits are placed.

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Mutual Fund Fees

I have not written at length about the mutual fund scandal as of yet but this press release from 2009 I happened to come across and thought I would offer quick remarks. Having followed mutual funds for many years, I have come to the conclusion that most (not all) are simply a part of the scam I coin as “Wall Street Greed.” The media entices people to invest in mutual funds saying they are great vehicles because they offer professional management, built in diversification and convenience.

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15 Reasons Why Your 401(k) May Be Your Riskiest Investment

15 Reasons Why Your 401(k) May Be Your Riskiest Investment

By Garrett Gunderson, Author Killing Sacred Cows

Financial institutions are genius marketers. They are able to get millions of Americans to hand over their money with very little thought taken, very little knowledge of the so-called investments offered, and even less control of their investments.

When the evidence is plainly presented, it becomes overwhelmingly clear that putting money into 401(k)s and similar qualified plans is not investing at all — it is one of the riskiest gambles for most individuals. Read the following reasons why I say this, and ask yourself if it’s time to reconsider your 401(k).

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Our Ridiculous Approach to Retirement

By TERESA GHILARDUCCI – New York Times – 7.21.2012

I WORK on retirement policy, so friends often want to talk about their own retirement plans and prospects. While I am happy to have these conversations, my friends usually walk away feeling worse — for good reason.

Seventy-five percent of Americans nearing retirement age in 2010 had less than $30,000 in their retirement accounts. The specter of downward mobility in retirement is a looming reality for both middle- and higher-income workers. Almost half of middle-class workers, 49 percent, will be poor or near poor in retirement, living on a food budget of about $5 a day.

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