Part two of the 5 Pension Time Bombs series dives deep into how the fifty percent of Americans relying on a pension (DC or DB) are at risk of losing their wealth due to the gross mismanagement of their funds.Â
Those that are looting the pensions of public-school teachers, firefighters, police, as well as private-sector workers, can be found on Wall Street. The Wall Street casinos are charging high fees for gambling in risky hedge funds and other speculative investments, outrageous investment-industry conflicts of interest, and outright violations of the law.
According to Ted Siedle, a former attorney with the United States Securities and Exchange Commission and America’s leading expert in pension looting, “In the decades to come, we will witness hundreds of millions of elders worldwide, including America’s Baby Boomers, slipping into poverty. Too frail to work, too poor to retire will become the “new normal” for many of the aged.”
One thing is certain: Doing nothing―sitting back, confident your pension check is “in the mail” ―is not an option. It’s a risk you can’t afford to take.
Listen as Robert and Kim are joined by Ted Siedle and Andy Tanner to discuss the massive crisis about to come crashing down on millions of Americans, but more importantly, what you can do about it.
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