Dan Hamermesh wrote recently that he doesn’t feel sorry for would-be retirees who lost their savings by bad asset allocation. Boston University economics professor Laurence Kotlikoff thinks people aren’t capable of predicting how much they’ll need to save in the first place. So he has developed a “consumption smoothing” program that helps users maintain stable spending patterns up to and through retirement. It’s free here. But users beware: if you still botch your retirement, you’ll get even less sympathy from certain economists. [%comments]
No Excuse for No Retirement
TAGS: retirement
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I also do not have sympathy for would-be-retirees because so many of them have been speculating with their retirement nest eggs instead of prudently investing their funds. The media’s obsession with profiling individual equities and alternative investments as sexy investments is surely to blame. Until we can educate the general population on the difference between speculating and investing I worry that this problem will continue.
You can find more detail on this at:
http://www.twentysomethingsense.com/2009/04/speculating-is-not-investing.html
I see your point but I must disagree. Most retirement accounts are allocated based on advise from ” financial experts”. Many of which have provided poor advice. Unfortunately the average investor is not astute enough to know the difference from bad and good financial advice, so they trust their advisor and hope for the best.
To learn more about retirement planning and free retirement calculators, go:
http://www.RetirementWeb.com/ch.money.html
There is obviously a lot to know about this. There are some good points here.