He's a VP of Marketing. Why is it that we expect him to know how to manage a retirement fund, even if it is his own?
The wide-spread end of the pensions system and the rise of 401(k)s is going to be a disaster as more and more Baby Boomers retire.
I'm not American and I still know what to do:
1. Do montly investments in a few cheap ETFs (S&P 500, Emerging Markets, MSCI World) within your 401k
2. Once you get closer to retirement, roll most of the money over to more secure asset classes like bonds
3. done
This is a fact. No matter how easy saving for retirement is, it's a fact that the majority of Americans have retirement savings that are utterly insufficient. I have no idea how this will play out.
That mostly solves that problem, but leaves people like me that would like to handle retirement savings themselves a bit annoyed.
Ironic, because that's how I feel about speed limits: it's for the best overall but annoying to those that drive well... and you're from Germany where they have the Autobahn.
That said, my concern for my dim-witted but well meaning citizens makes me willing to bear this for the overall good.