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dire need of financial education for all

December 16th, 2018 at 07:45 am

I think way too many people have a one size fits all mentality with finances. I find it odd that people assume so much based on this misinformation or assumptions promoted by media or others basically trying some angle.
The facts are people can make things work if they want it. / people are retiring with savings/ people are paying off debt student and otherwise. EVERY article with fancy charts and manipulated stats seem to say otherwise.

We have heard over and over again that BOTH spouse must work to make ends meet...
In families with kids the childcare cost eat most of a second spouses income unless like me and my spouse we worked opposite shifts that minimized our childcare cost. some people are actually better off with a spouse working PT or staying home.

I remember the SALESPITCH of 401k that it was mobile and the person was in control of their choice of risk level and investments.... Now we are finding that was a big mistake

NOW everyone seems to be whining that RETIREMENT is impossible with out a pension. It says to me people want someone else to blame if their retirement blows.

Well all those who believe that pensions are sustainable are now seeing the funding for BIG promises made is not there ( one of the reasons the idea of IRA/ 401K were started in the first place). Sooner of later people can not kick that gross underfunding down the road ( Chicago recently proposed to sell pot and a casino to make up their gross underfunding) . There will be a big mess down the road.

There was very little follow through to educate people on the rules and how they Rollover a 401k so you end up with people reluctant to take the wheel in their own retirement planning. As shown by many on this site IT IS possible to save and invest in the future.
As tax time rolls into the headlines more misleading articles will start soon and the misinformation will flow.

The facts are %s mean almost nothing with taxes when those whom are in the larger tax brackets always have loophole or carved out special deductions to avoid paying taxes.
Yet the politicians and media want people to believe % matter.