Monday, April 22, 2013

PBS’s Frontline is Breaking the Mold to Rescue Retirement Investors

PBS’s Frontline is Breaking the Mold to Rescue Retirement Investors
Mark your calendar! This coming Tuesday, April 23 at 10 p.m., the award-winning PBS program Frontline will air what I believe is a must-watch show for every single retirement investor in America. The program, which Frontline is calling “The Retirement Gamble,” seems to be an attempt to caution the investing public about certain flaws inherent in many 401(k) plans that may actually serve to prevent, rather than ensure, a financially comfortable retirement. 

Personally, I am thrilled that Frontline is taking this giant step by being the "odd one out" in this respect. Finally, someone in the prime media is willing to pay attention to the minority view about 401(k)s, something I have spent the greater part of my career talking about. In fact, a few years back, I wrote a book titled Is Your 401(k) a Trap? in which I challenge the seemingly "grounded" yet misguided conventional wisdom that 401(k)s are the best retirement planning vehicles for American workers. 

My book is not so much of a witch hunt expedition - because that's simply not my style - and the information I present, which is supported by facts, IRS rules, and real-life evidence, proves beyond a doubt that many retirees would be far better off using investment vehicles other than 401(k)s to plan for their retirements. 

Obviously, I haven't seen the entire program, but from the trailers I've seen, I expect that those watch it will walk away with some "holy anger" and, hopefully, begin to demand real answers to some key questions, like: 

  • Why aren’t the majority of so-called financial advisers pointing out these things? 
  • What are other options – alternatives – to 401(k)s?
  • Why are they still telling folks to jump on the 401(k) bandwagon without any sort of due diligence?
  • How do these options stack up against 401(k)s, in an apples-to-apples comparison?
  • Is my employer’s specific 401(k) plan a good deal for my retirement needs?
Quite frankly, isn’t this how serious retirement planning is supposed to look in the first place? Instead of millions being told to simply sign up for their employers’ retirement plan, however inefficient they may be?

My book specifically answers these questions, as well as several other critical ones. It also walks you through the other options that many financial professionals somehow are unable or unwilling to discuss. You can pick up a print or Kindle version from Amazon, or iBooks. If you use any other e-reader, you can get a compatible electronic version, too.

Here’s a quick  snippet from a recent interview I gave about this issue:  

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