I read a lot of articles about retirement that make me cringe. Most of them are about people who are not on track for a financially secure retirement. But this week I read an article that really got my blood boiling. Oddly enough, it was about a group of people who have more than enough for retirement. A recent study by the Center for Effective government and the Institute for Policy Studies found that the retirement accounts for Fortune 500 company CEOs had a combined worth of $4.9 billion — equal to the retirement account savings of 41% of all… Read More
I read a lot of articles about retirement that make me cringe. Most of them are about people who are not on track for a financially secure retirement. But this week I read an article that really got my blood boiling. Oddly enough, it was about a group of people who have more than enough for retirement. A recent study by the Center for Effective government and the Institute for Policy Studies found that the retirement accounts for Fortune 500 company CEOs had a combined worth of $4.9 billion — equal to the retirement account savings of 41% of all American households with the least retirement wealth. Don’t get me wrong. It’s not that I’m jealous. I’m disappointed that many of these CEOs have retirement plan options that they don’t offer their own employees. But even that’s not what upset me most. My problem is that these kinds of articles can discourage the “rest of us” from taking steps to secure our own retirement security. People read these articles and conclude the retirement game is rigged. It’s for CEOs and celebrities. For regular folks, a secure retirement seems like a lottery — where they aren’t allowed to buy a ticket. Read More