About 30 years ago we underwent a huge change to our retirement system in this country, shifting from pension plans to individual retirement accounts such as 401Ks and IRAs. It is a change that has led to the development of a system that is stacked against the typical investor. In fact, it’s become nothing less than a rip-off, deeply damaging or destroying the financial futures of most of the 100 million Americans who participate.
For decades now, the overriding message from the Financial Services Industry, from Wall Street to your friendly local financial advisor, has been that you need to "put your money in the stock market and always invest for the long run." Well, the economic times we’re in combined with a stock market that’s gone nowhere for the past decade have forced that message to change. They have no choice. Its become apparent to the average investor that the stock market has been and still is a bad bet. As a result, the Financial Services Industry realized that if they didn’t change their sales pitch, they'd end up with less of your money in their pockets. Is the change a good thing? Does it mean they are now investing smarter and selling safer products?
Every week there are more new money management corruption stories unfolding. Every so often I share one to remind you just how utterly corrupt and self-serving our existing system of personal money management has become. The only way to win is to know the games constantly being played against you and then manage your money yourself. It's your money, and as I have shown you and will continue to show you, nobody can manage your money as well as you.
So how do we insure a high-quality and useful post-secondary education for ourselves and our children given all the challenges? For openers, I believe that a full scale solution, a revolution really, is coming.
Our higher education system has been and will continue to be a massive failure for most children...
The system of personal money management in this country has become corrupted beyond belief! Those that have trusted it and followed the advice of the vast majority of the financial services industry and the majority of the financial media have seen their finances, their futures, and often their lives, deeply damaged.
