Wednesday, September 29, 2010

Can you Afford to Retire?

WOW!!! This video and interview is very revealing! This interview is with an expert a consultant in the Retirement planning industry. This gentleman has set up 401k type plans for major corporations in the US. He states that there is a GAP between the have and have nots regarding the 401k type plans. He also discusses who REALLY saves money when a company implements a 401k plan with its employees.
Check this interview out with Brooks Hamilton. He is the founder of Brooks Hamilton and Partners. In this interview he reveals some MAJOR CONCERNS with the 401k type here One of the major points is that these experts state that you need to contribute at LEAST 18% of their annual salary for 30 plus years to have enough to retire. Most people invest into their retirement plan 1/3 of that amount. The other point is after the passing of ERISA in 1974, the shift in responsibility from the Employer to the Employee. This turned into major cost savings for the employer, but the financially uneducated employee is now making MAJOR financial decisions.

Brooks is also featured in this video clip which discusses "Can you Afford to Retire?" This video explores more in greater detail the major problems facing people who use the 401k plans.

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