Many people don't even contribute to a 401(k) plan when given the option. And of those that do contribute, 75 percent contribute a fraction of what they could contribute.
More Quotes from Dallas Salisbury:
The magnitude for trying to create an administrative system and make it functional for 140 million people (in Social Security) could be done, but it will take years. The federal thrift program is having problems and that's a lot fewer people.Dallas Salisbury
I think many people end up taking buyout offers quickly because 100,000 (or some other lump-sum payment) can seem like a great deal of money, only to end up realizing after the fact that it wasn't enough to justify leaving. People need to avoid the wide-eyed feeling of I'm winning the lottery and make sure they think about if I am 50 I still got decades ahead of me.
Dallas Salisbury
If it's money that an individual would otherwise have to borrow, meaning they'd take out a loan against a credit card or run up a balance, they are better off economically if they borrow from themselves.
Dallas Salisbury
We've got millions of workers that don't have high school educations, ... These are the type of people who would gain a great deal from interaction with an employee benefit specialist, a 401(k) specialist or a human resources professional.
Dallas Salisbury
The American public needs help from the employers, help from the government to save. They're very concerned about not being told the truth about Medicare and Social Security. They're ready to deal with that truth.
Dallas Salisbury
The administrative costs (of an employer plan) are frequently cheaper. It's generally going to cost you less money than an IRA.
Dallas Salisbury
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