Wednesday, December 8, 2010

Money and Retirement

I've been researching people's comments and statements about how much money they will need for retirement. I'm finding out the answer is no one knows! Not Money Magazine, not Forbes, not CNN. You can find links with labels like "how much money will you need to retire". New casts will tell you before the commercial break about the next segment coming up, "How much money will you need to retire? That's our next story, after the break". Every link and every news segment will tell you they know and how you can know too! Then the answer is "we don't know". They will talk about stock portfolios, 401k's, and what kinds of trusts that may be best for you, but that's it! No one knows. A bank will tell you that your home is your go to place for money to fund education. A financial adviser will tell you otherwise. The bank wants to own your house and your financial adviser wants you to invest in what they are selling. Everyone will want you to do what is best for them.

I'm noticing credit card and insurance companies really know how to get as many dollars in their pockets as possible. They have perfected their business because it's much more stable. Amazing, but true.

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