Monday, May 5, 2014

A Path to Retirement, for Those Far From It

This article offers an important and pertinent advice for the millennial generation, especially novice investors, ripe college graduates, etc. looking to start work and investing. Mr. Bernstein's tips are encapsulated in a pamphlet that he is handing out free of cost to help our generation be knowledgeable about saving and investing. I think it is worthwhile to read it. 

"It’s never too late to improve your individual situation — and public policy solutions may become more realistic if enough people get involved. But whatever policy shifts are possible in America, it’s still extremely likely that most people will need to rely primarily on themselves to finance a comfortable retirement. Hard as that may be, it’s easier if you start early."


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6 comments:

  1. Rasheed HammoudaMay 5, 2014 at 9:35 PM

    This is a really great resource for absolutely no cost but a bit of your time. I know that personally I haven't really thought that much about retirement savings, and I'm sure many of us are in the same boat. It seems like Bernstein focuses on low fee, low volatility indices and funds. In the long term this makes a lot of sense: you're going to want low risk with dependable returns, and considering that most investors have made ~5% annualized return when the market has made ~10%, his advice seems spot on.

    Sameen is right, it is definitely a worthwhile read. here's a link directly to the pamphlet in PDF form:
    https://dl.dropboxusercontent.com/u/29031758/If%20You%20Can.pdf

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  2. Joe WyzgoskiMay 5, 2014 at 11:30 PM

    I agree, this is a great article and it highlights how important it is to start your financial planning ASAP. However, this plan does seem to take a great deal of discipline. It's easy to tell yourself that your'e going to save 15% right now, yet we're nowhere close to that as a country:

    http://www.tradingeconomics.com/united-states/personal-savings

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  3. Erika RoblesMay 6, 2014 at 7:07 PM

    I agree we should start early saving up for retirement. However, this is so difficult for those who are living already on a very small budget. How are you going to accomplish this if you are just getting by with what you got?

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  4. hannahappsMay 7, 2014 at 10:45 AM

    Many people, close to the edge, are taking money out of their 401-k's to meet current crises. Saving for retirement is a great idea. But when you all graduate, you'll have more pressing things to save for and/or to spend on for the first decade or so.

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  5. UnknownMay 7, 2014 at 11:49 AM

    This article is a great read. I do agree with Prof. McKinney. I think right now most of us are going to save or spend our money on student loans, graduate school and other things before we start thinking about retirement. on the other hand, for people with limited capital, saving for retirement might not be in their future plans. The author offers insightful information on financial planning.

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  6. Mark GhafariMay 8, 2014 at 10:26 AM

    Rasheed thank you for the pamphlet. I think this article preaches discipline as Joe mentioned, and if it is possible I feel as if we, soon to be graduates, need to take this advice as soon as possible. I am interested to do the 'homework assignment' that he gives in his pamphlet to learn more about some spending habits and trends.

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