Around four in 10 U.S. Gen Xers, and even some baby boomers, haven’t saved for retirement—as current retirees who didn’t save enough endure a “nightmare.”
This is something I’m really struggling with. I’m finally at a point where I have sufficient income to start putting it away. I have over 20+ years until I’m of retirement age and I’ve got a state pension but no matching contributions so I’ve never started any personal retirement account. I’ve always felt like it was just another scam for the wealthy to profit off of the working class.
Of course, they get to charge me a fee - take their cut. However, can I be sure that they have my best interests in mind? If they can leverage all of the investors an index fund, or whatever the fuck I’m invested in, and throw us under the bus to benefit themselves or a high-value client that’s actually paying attention and throwing around orders of magnitude more money… will they?
Ignoring the scam angle… what the fuck can I invest in, without putting significant time and energy into, that isn’t diametrically opposed to my ideals? Tech, power, pharma, banking? For lack of a better term, anything making money these days is either Evilcorp or likely to be put out of business by or acquired by Evilcorp. Do I want to profit off of that shit, or even help raise their stock price?
I could always put it in a CD or something at a credit union and know that I making substantially less for my retirement than virtually every other option. Yay.
This is something I’m really struggling with. I’m finally at a point where I have sufficient income to start putting it away. I have over 20+ years until I’m of retirement age and I’ve got a state pension but no matching contributions so I’ve never started any personal retirement account. I’ve always felt like it was just another scam for the wealthy to profit off of the working class.
Of course, they get to charge me a fee - take their cut. However, can I be sure that they have my best interests in mind? If they can leverage all of the investors an index fund, or whatever the fuck I’m invested in, and throw us under the bus to benefit themselves or a high-value client that’s actually paying attention and throwing around orders of magnitude more money… will they?
Ignoring the scam angle… what the fuck can I invest in, without putting significant time and energy into, that isn’t diametrically opposed to my ideals? Tech, power, pharma, banking? For lack of a better term, anything making money these days is either Evilcorp or likely to be put out of business by or acquired by Evilcorp. Do I want to profit off of that shit, or even help raise their stock price?
I could always put it in a CD or something at a credit union and know that I making substantially less for my retirement than virtually every other option. Yay.