It's going to be a good 10 to 15 years into the Baby Boom generation of retirement that it's finally going to hit people that this is no longer a sure thing and they'll have to start planning. Hopefully they'll figure that out when there's still time to do something.
More Quotes from Jack VanDerhei:
It's clear that people currently working should factor into their retirement planning the long-term trend away from traditional defined benefit pensions. That means people need to be saving more than they are.Jack VanDerhei
A lot of today's workers look at today's retirees and say, 'They seem to be in good shape, and I'm making more than Mom and Dad were making, so I should be in good shape, too,' What they're totally failing to realize is that the generation of people retired today by and large had benefit plans and retiree health plans that are being increasingly cut back today.
Jack VanDerhei
Overconfidence is the word that comes to mind.
Jack VanDerhei
People typically take a cue from their parents' generation which had pension plans and retiree health programs. And they know they're making more money than their parents did.
Jack VanDerhei
The trend from defined-benefit to defined-contribution plans has not come because employees have wanted to take on that risk. It's because employers have wanted to get rid of that risk.
Jack VanDerhei
We find there are a lot of people who need to be saving more than they are, if they hope to be able to afford a comfortable retirement.
Jack VanDerhei
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Based on Topics: Babies Quotes, Planning QuotesNever break the neutrality of a port or place, but never consider as neutral any place from whence an attack is allowed to be made.
Horatio Nelson
I know many books which have bored their readers, but I know of none which has done real evil.
Voltaire
Because if you have a strong foundation like we have, then you can build or rebuild anything on it. But if you've got a weak foundation you can't build anything.
Jack Scalia