The Retirement Gamble (full documentary) | FRONTLINE
Publisher: FRONTLINE PBS
Date: September 21, 2021 (original production April 23, 2013)
Key points made for why we like:
- Some financial planners advising clients that they'll have to work part-time from age 70-75 if you're behind in savings
- In 1970, 42% of employees had a pension
- Funding college for kids and/or getting a divorce is a major culprit of sapping retirement savings
- 401K plans place the burden on individuals to manage investments/risks for retirement; most people don't have the skills
- Many retirement plans have fees that degrade overall performance (0.5-5%); over 50 years it adds up to hundreds of thousands of dollars
- Excerpt with Jack Bogle (founder of Vanguard) showing how retirement return can be reduced by 2/3 with high fees
- About 85% of financial advisors are not fiduciaries - they are not obligated to have your best interests in mind