The Pension Gamble (full documentary) | FRONTLINE

[@TeresaMicheals]

The risks with pensions seem more significant than I thought. What’s your take on the future of pensions, especially with people relying on them for their retirement?

[@Churchillhump2268]

Yeah, pensions are a gamble these days. Many people don’t realize that the financial system is shifting, and pensions might not be as reliable as they used to be. I’ve been considering diversifying my portfolio more, especially since I can't solely rely on what’s coming from my pension.

[@Annie2229]

I feel the same way. It’s tough to keep up with inflation and rising costs, and pensions don’t seem as safe as they once were. I think it’s more important than ever to have an advisor who knows how to navigate these risks. I’ve heard a lot about ERIC PAUL ELMER. Has anyone of you worked with him?

[@louisahernandez]

I’ve been working with Eric Paul Elmer for a couple of years now. He really understands how to balance long-term and short-term investments, especially with changing markets. After hearing about pension risks, I think his strategy of diversifying beyond traditional investments really made a difference for me.

[@FedrickWhite-jo2ed]

That’s great to hear. I’ve been considering diversifying more but always feel like I’m just trying to keep up with my retirement goals

[@FedrickWhite-jo2ed]

I really needed this. I looked him up on Google and explored his website; he has an impressive background in investments. I've sent him an email, and I hope to hear back from him soon

[@ChristopherAbelman]

People are facing a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@HildaBennet]

The increasing prices have stalled my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@JosephineKenney]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over "$800k"

[@PennyBergeron-os4ch]

Mind if I ask you to recommend this particular manager?

[@JosephineKenney]

Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.

[@HildaBennet]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@ricecrash5225]

I have sat on pension fund boards and can tell you there are a lot of vested interests. When I started querying investments and performance it was seen as being problematic. When I started questioning fees and charges I was seen as being a troublemaker. I remember asking the investment manager what methodology he used to allocate funds when buying and selling shares. He asked why ? I told him he created fees for his firm every-time he bought and every-time he sold shares, why have you purchased shares in a particular company only to sell it one month later for the same price. What was the underlying reason ? He couldn’t answer. We all know the answer. No interest like self interest.

[@1398go]

In many ways, they don’t want the public to be well informed on their methods. Their connections can be seen as ultra secretive and not for the public’s business to know, is the underlining issue at hand. But that is how they get away with all of this. The sad part about all of this is, it’s not like there is a right in this country to assemble the people’s pensions, where its people who construct a savings for each other and they find a way to safe guard it from greedy business investors. I’ll tell you what though, someday, people will be so fed up with this that we’ll construct anew Magna Carta!

[@henkholdingastate]

This film clearly shows how important it is that facilities on which everyone depends should NOT be run by private companies but by a NON profit organization ... and that is only 1..... the government . And for every compulsory participation (including entrepreneurs who, by the way, could go bankrupt and thereby lose everything, including the pension) because that keeps the costs low. Unfortunately, there is a major obstacle in this regard and that is that salaries have not increased since the late 1970s. Result: the government can no longer take over. What do I think should be done? 1: Purchasing power recovery for the 99%. Suppressing the bonus culture on Walstreet in particular (which robs the pension pot in the form of costs.....7% return and 2% costs means that 64% less in the pension pot, and of course you do not believe this, unfortunately you do where pay over 50 years) Paying taxes by the rich without yet another convenient escape option built in by the government of the rich.

[@michaelcap9550]

@@henkholdingastate Government is not always the best option.

[@henkholdingastate]

@@michaelcap9550 true when IT is a gouvernement from only miljonairs. Buth in Holland IT functions very well . Buth sinds a year OR 10 we have here the VVD on power this is the party from the entrepouners and the rich, and we see that Times are not gonna be better for the workers. buth still ok. Special the pensions and schools hospitaal police etcetera. I mean the things on witch everybody depends on. Greetings from Holland

[@henkholdingastate]

@@michaelcap9550 With an honest government that is well controlled, I think so. But yes I live in the Netherlands and can really only speak for myself and I know that it works very well in the Netherlands. Our system is very cheap compared to the American and qualitatively also very good according to international studies. Thanks for your reaction

[@Draish-l2b]

🌹I think the retirement crisis will get even worse. A lot of people can't save because of low paying jobs, inflation, and insane rental rates. And now that home ownership is out of reach for middle class Americans, they won't have a house to retire with either

[@CharlieLavoie-hu9dr]

Rising prices have affected my intention of retiring at 62, working part-time, and building my savings. I'm worried about whether individuals who the 2008 financial crisis found it less challenging than my current situation. The stock market's volatility, coupled with a reduced income, is making me anxious about having enough for retirement.

[@Brielle77-p4h]

I completely agree; I am 59 years old, recently retired, and have approximately $975,000 in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!(Alvarez Harry Flectcher) is a Blessing to me

[@KimKoskinen]

Talking of been successful I think I'm blessed if not I wouldn't have met someone who is as spectacular Mr Alvarez

[@KyleighBouchard]

You don't have to be surprised, That's exactly his name( Alvarez Harry) so many people have recommended highly about him I'm huge beneficiary of his platform from Brisbane Australia 🇦🇺​@RianoCadiners

[@TeresaFroster]

Having a perfect manager like Mr Alvarez has save me alot it's high time I do what's is right and recommend him to vervonel

[@oakmonster2164]

Nothing like a frontline doc to sober me up to reality and get off my a**. The message I take away from every doc is that trust isn’t something ever to be assumed. We’re truly on our own out here.

[@simplybeef8232]

Yea...that's why less taxes and more money in pocket you earn would be better spent on yourself

[@nova396]

Should have been that way anyway. Never rely on criminal politicians with your life! How much did they contribute every week?? They could have put it in the s&p and have more!

[@LittleHatori]

exactly. at the very end the woman said, "I have no savings. So my pension is everything." MA'AM, i was very sympathetic to you until you said that. As important as the pension is, everyone should be taking accountability and saving a nest egg for themselves outside of a pension. If your job isn't paying you enough todo that, you must get a second job or really consider changing careers. I've done it, and i think most americans would agree victimhood does not pay.

[@mikewatt8706]

not everyone can do what you said. disaster illness family break up divorced job loss no qualification can all lead to financial disaster

[@CarlsCozyCorner]

​@nova396 so dont be a public servant if you ever want to retire... got it.

[@bsmlbn]

Dear Frontline, when I was a child I seen a Frontline documentary that made me fall in love with documentaries and now as an adult I find myself still watching thanks for the many years of quality content :) thank you Frontline and PBS my favorite ❤

[@practicallnvestingyoutube6388]

Y•E•S• ==B•U•T ==•I•== W•O•U•L•D ==A•D•V•I•S•E== °Y•O•U•== T•O== •I•N•V•E•S•T==• •I•N•== •==C•R•Y•P•T•O•== @• +•/1•/6•/4•/7/•4/•9/4/0•/•9/•5/•6

[@johncoll4456]

I seen???

[@dylliedutch]

You should say “I saw” not “I seen” if you don’t want to come across as ignorant.

[@jetmtn1]

@@dylliedutch why be a douche? Lol

[@dylliedutch]

@@jetmtn1 because I’m helping them to not sound like an idiot in the future. People won’t learn if it isn’t pointed out to them. If it has been pointed out to them and they still speak like that then that’s on them going forward...it’s fair game to call them stupid.

[@BonnieHalfElven]

Legislators took from the pensions to fund the budget. When no one cried "foul," they became emboldened and took more. This sounds just like how a private embezzlement starts and perpetuates, until it's too big not to be noticed. Yet politicians don't go to prison for it.

[@samreynolds3789]

Because the 99% are DIVIDED & CONQUERED by The 1 % !

[@azmike3572]

One one hand, it does cost money to currently run a state, even without waste. On the other, the politicians should've taken the funds from other sources, not promised retirement payments.

[@talscriver5870]

I blame the pension fund managers and the public sector representatives on the board. Both are equally culpable.

[@Phil-ll8kw]

If they did go to prison us peeons wouldn't get robbed

[@davidburland6576]

Because they make the rules

[@darnellcapriccioso]

I have two pensions. I would much rather have had a Roth 401k throughout my working lifetime. $500/month invested from 25 - 65 at 9% is $2.3mil. I hate my job but can't leave because of I won't get my state pension. What do you think about doing a 70/30 stocks bond ratio?

[@richardhudson1243]

I would avoid the index funds, mutual funds, or specific stocks for the time being. 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows signs of recovery

[@maiadazz]

At a point like this, when the pressure is already on you to retire, its best recommended you seek the services of an advisor, as this allows you make smarter investing decisions.

[@Aaronduckstein49]

Generally speaking, a good number of people discredit the effectiveness of financial advisor in planning for retirement, For over the past 5years, I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $1million in gains… might not be a lot but retirement doesn’t seem so farfetched anymore.

[@tatianastarcic]

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@Aaronduckstein49]

Annette Marie Holt is the licensed advisor I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment

[@morgansofia]

I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.

[@SusanAlice-o6k]

Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.

[@hoosier-daddy-wv5gi]

Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.

[@avamadison-r9p]

pls how can I reach this expert, I need someone to help me manage my portfolio

[@hoosier-daddy-wv5gi]

Sophia Maurine Lanting is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@BrianJason-d3s]

Thank you for the lead. I searched her up on google, and I have sent her an email. I hope she gets back to me soon.

[@oldslowjim]

Politicians get their pensions "NO MATTER WHAT". That needs to change, start in Washington DC, and then work your way down to the lowest paid elected official

[@leroyoterang5407]

Money and power breeds corruption. Corruption leads to unfairness and inequality. Both parties are corrupt AF. Much of poverty is a matter of policy. How can a person work 40 hrs per week and not afford rent, food, medicine etc.? The man kept wages low and they wonder why crime exists. Politicians are bigger criminals than criminals since they affect millions of people. Look at the military industrial complex. 3 disastrous effing wars that ruined American lives. These ppl just care about getting themselves and their families rich while the rest of Americans struggle. It's sooooo sad that we don't have honest media to point out all this evil corruption. Check out Breaking Points on You tube or even The Rising for better journalism. Why don't you critisize both parties? Theyre both corrupt as hell! Owned by special interests. Vote, even if it's a protest vote (write-in). Write or call your Senator or Representative and demand anti-corruption laws, improvement of inequality, better wages, ban lobbying, better healthcare. Both parties are corrupt as hell but we need to fight.

[@LIONTAMER3D]

there's two views on this: 1) we all need to retire, so a more centralized investment strategy @ the federal level makes sense 2) derp socialism! (lol)

[@tonylinardi3089]

M. Gibson

[@Apoli1982]

@@leroyoterang5407 No, competence and insistence on laziness leads to inequality. Fairness is allowing people to own the consequences of their own failings and successes.

[@hemiedwards217]

yeh that's the irony. The fat cat Republican politicians who make it their mission to deny hard working public servants their pensions, are quite happy to collect a big fat pension themselves.

[@Jaime-eg4eb]

What's amazing to me is that no one mentioned the idea of legally preventing politicians from stealing from the pension funds to get reelected. Or establishing a minimum level of financial literacy to be in charge of billions of dollars...

[@henryford2950]

When those same politicians are the ones who write the rules, no one can stop them.

[@JaneA544]

Yeah ireland tried that and then when the banks failed through mismanagement due to the rules the government had pushed through the international monetary fund sent in the trio who used that money to pay off the banks debts. In Europe things like what happened in this film are not far way

[@stevelopez372]

@@henryford2950 So what’s New. The Federal Government has been using Social Security Funding for other programs for Ages. But then again if your a recipient of AFDC which is funded by Social Security, who’s going to complain. Lol.

[@justcommenting4981]

Not a matter of literacy. They know what they do. Often it is on purpose.

[@bobbillings]

The oldest guy at the steel company I work at in Northern Indiana is 88 years old. He hired in 1955 and now in 2023 he has over 68 years seniority. He is 88 years old and refuses to retire. His wife died 20 years ago and only son passed at some point. He tells everyone they will have to carry him out of here. He still shows up everyday ready to work. He was forced to take his pension at age 70 which he collects monthly along with his full social security both penalty-free along with his bi-weekly earnings from the steel mill. He also has a 401k (no company matching since we have defined pension) where he has told people he has over 2 Million in it. I think it's like the movie Shawshank Redemption. The old guy "Brooks" the librarian was afraid to be released from prison because he is institutionalized and prison was all he ever knew. Once they released him, he didn't last long.

[@skycaptain95]

Ironically, continuing to work may be what is keeping him alive so long. Most people vegetate as soon as they retire and that's what kills them. Regular exercise lengthens lives.

[@bobbillings]

@@skycaptain95 So true

[@Gilgamex]

@@767bob The Taxman has long ago made sure, that they have a good tap on the Senior population, mmmm multiple income sources! Delicious!

[@TVHouseHistorian]

We have people like that where I work as a public transit bus operator. They won’t retire and take their pension because showing up to work is everything to them. It’s all they live for. Then when their health fails and they’re forced to retire, they often pass within weeks or months, it’s insane. Me, on the other hand, I can’t wait till the day comes where my work pays me to stay home where everyday I can enjoy the thrill of doing nothing more difficult than making travel plans.

[@justcommenting4981]

Is he still alive?

[@aidenw207]

"The pensions that disappear the moment you go to collect them"- George Carlin

[@mmane257]

mr.. carlin said a lot of wise things.

[@EntertainingVideos-4U]

Wall Street gets behind you, unzips their pants, and slowly starts to service the account.

[@youfuckmywife6719]

…”If you think there is a solution , you’re part of the problem “… George Carlin

[@OMGAnotherday]

U.K. gov just took away 6 years of pension for women born in 1958, 8 million of us, and gave us NO notice! Mine equaled £52,000!

[@rightsdontcomewithpermits7073]

@@OMGAnotherday good. Why should you get any of it in the first place?

[@alexi2460]

This documentary should get an award.

[@grumpyschnauzer]

I remember my ex-husband, a cop, saying a few years ago, “It’s alright. I got my pension.” For some reason, this weird feeling came over me like, “What? I find it hard to believe there’d be a pension waiting at the end in this day and age.” I just had this feeling that pensions were not secure. 3 years later I’m watching this video.

[@framclean7910]

This is just the start

[@ensignmjs7058]

Ex-husband?

[@oldslowjim]

You must have multiple retirement streams in retirement. SoSec. the Fed just prints cheaper and cheaper dollars. Govt pension, civilian pension, and investments, savings, you need everything.

[@kimobrien.]

@@oldslowjim Social Security needs to be expanded to include public employees and benefit need to be raised. Then you have a national system that covers everyone. To counter inflation we need a cost of living escalator every 3 months. Their is no reason why everyone shouldn't have a job at union scale ans a secure retirement. We need to rebuild union power and workers control of industry.

[@yourmother2739]

@@kimobrien. And build more worker owned industries.

[@seanmolloy6188]

We need to start holding politicians criminally liable for doing stuff like this

[@BLESSED1591]

Bribery, taking off the top and more. Let me ask you something, isn’t always the management of anything with money in it that would see a problem and fix it. Now sometimes it takes awhile and few know about it and sometimes it’s fixed fast and only fewer know about it. But this is crazy, they are given free will to do what they want and only few get in the trouble they should.

[@bobdadruma]

I have an IRA and a 401K. I also have stocks that I bought outside of my retirement vehicles. The stocks that I bought outside of my retirement accounts have saved my retirement. I had several issues with poor management with both my IRA and My 401K over the past 40 years. Manage your own retirement! Don't trust anyone but yourself with your money.

[@OneAdam12Adam]

It's A HUGE LIE that 401k accounts are better. Public pensions were more cost until the corruption infiltrated our systems. Wall Street bankers screwed up this system from with their GREED!

[@jerrykinnin7941]

Pensions Social Security included at best are a Ponsie scheme Only FOOLS believe in them.

[@VonnieOdette]

Which means younger teachers, police officers,and other civil servants will not work for less. They'll expect decent income based on their education and job risk due to the need to fund their future retirement. But, those older individuals who were promised payment will be left with no way to increase wealth since they are no longer able to command higher income or are close to retirement.

[@theflaca]

Grant Cardone has been saying this for years. Signed Melbourne Australia

[@Schrankerle]

Why did the government have access to their retirement money? And why on earth are cops and firemen trying to choose between hedge funds and sub funds? Get the money into an S&P or NSADAQ index fund managed for the long term.

[@mmane257]

all politicians should give up their lifetime pensions and government healthcare that we pay for through our taxes.and let us gamble with their retirement pensions.also someone mentioned that some choose their line of work for a pension.explain that argument to a fallen first responders’ family.

[@Monk-Amani.]

The government covers it own by printing. Cover this in the same manner. Print it up.

[@macewbee]

I agree

[@highlighted_reply]

I have a different point of view. I'm a big believer in the 401k plan. That's what the majority of American workers have for their retirement planning. I see no reason why our leaders shouldn't have 401ks, rather than a system of us sending them checks for life. Let's instead match a portion of what they invest with their money and when they retire, they can figure it out. When they stop working for us, we stop paying them. That is what the reset of us are expected to do. And it sets the proper example.

[@maxpeck4154]

@@highlighted_reply Agreed. Pensions are antiquated as it is. Toss in a 4 decade long rollback of financial regulation and your life's work can be gambled away in an instant with no accountability.

[@mattbilello6229]

@@maxpeck4154 Oh rolled back regulations don’t affect the stock or bond markets? I guess watching everyone’s 401Ks lose half their value in late 2008 is better than a pension. I sure all companies offer great 401k plans with the best investment options that are better. I think people dismiss the fact that this documentary is about PUBLIC and MUNICIPAL workers who were enticed into taking those jobs that do not pay as well as private sector jobs BECAUSE of the pension and healthcare benefits.

[@diablo55]

“…and now they’re coming for your social security money. and they’re gonna get it. they’re gonna get all of it. cuz they own this fuckin place” -George Carlin

[@Gypseygirls]

Geez!!!

[@diablo55]

@@Gypseygirls rightttt 😅😅

[@Gypseygirls]

@@diablo55 lol totally true Iam going to self destruct...

[@diablo55]

@@Gypseygirls awww but don’t feel too bad about it, we’re all in this together :))

[@Gypseygirls]

@@diablo55 I know! Iam too old for this messy planet! where are you?

[@pothedragonwarrior4934]

These people deserve better! These are people who saved, educated, and rescued other people, who, in fact, dedicated their time and hard-effort in that honorable pursuit - and this is what they get. Shameful! Just shameful!

[@gregorylyon1004]

Ok. You go pay for the pension fund

[@yagga8885]

Disgraceful indeed

[@yagga8885]

@@gregorylyon1004this is an adult conversation

[@whiteraven69]

Kentucky.....Where is Mitch McConnel’s part in all of this..he and his wife are multimillionairres from their contacts and questionable businesses and careers in politics.

[@djcue2301]

Exactly!! I was just thinking the same thing!

[@raidergunz]

McConnell would end all workers pensions to help his rich ceo friends in a second if he could

[@SurpriseMeJT]

@@raidergunz Why didn't government fund the pensions? To be fair, if government can be corrupted to not keep their promises, maybe private options like 401k's with flexible investment options would be better. The issue with this, is that financial education must be taught to students and the public so that they can make informed financial decisions.

[@tamarabartolo9185]

Exactly I would not surprise me if he has a hand in all of this.....

[@ahamed4152]

its local issue he can't get the federal government to bail out the local politicians mistake

[@twothreefour234]

confiscate all property and assets of those that raided the pension funds.

[@michaelpatton2712]

From.those greedy, corrupt prostiticians who stole from the pension funds by confiscation of their fiscal assets and properties to the victimized teachers, policemen, firefighters, and civil service employees whose pensions were deliberately gutted to be spent on filling the states' deficits because the so-called state legislators and representatives took the money, instead of raising the corporate taxes because they were the only segment of the taxable public that had any money --billions of dollars in untaxed profits that were, and still are, shielded by Trumpublicans from being fairly taxed by the state governments! The True Reaganesque nd Bushesque Trickle Down, Supply side VOODOO ECONOMICS that defies gravity and actually TRICKLES UPWARDS TO REWARD THE SUPER WEALTHY STEALTHY AT THE EXPENSE OF THE WORKING CLASS AND SMALL BUSINESS MIDDLE CLASS! THAT'S WHY TRUMP AND Mitch McCONNELL PASSED THE 1.9BTRILLION DOLLAR CORPORATE TAX CUT AND STIMULUS BILL IN 2017! 83% of the 1.9 TRILLION DOLLAR BENEFITS WENT TO THE WEALTHIEST 1% TO 2% OF AMERICA'S PLUTOCRATS AND OLIGARCHS! YOU DIDN'T HEAR ANY OF THESE EVIL PARASITES COMPLAIN ABOUT THAT MEGA-BRIBE CAUSING A HUGE RISE IN OUR NATIONAL DEBT THAT WILL LAST OVER A DECADE UNLESS THE DEMOCRATS CAN RESCIND THE CORPORATE TAX BREAKS THAT CUT THEIR TEX OBLIGATIONS FROM 35% TO BARELY 2Q%! MERRY CHRISTMAS AND HAPPY CHANUKAH FOR MORE THAN A DECADE FOR MITCH McCONNEL'S HRIM REAPER FISCAL RAPISTS, AND AN UNHAPPY, FISCAL DEPRIVATION FOR AMERICA'S WORKING POOR WHOSE REQUEST FOR A RAISE FROM $7.25 / HOUR FEDERAL MINIMUM WAGE TO $15.00 / HOUR WAS CONSIDERED INFLATIONARY! GET RID OF THE G.O.P. ÇORPORATE OLIGARCHS AND PLUTOCRATS BEFORE THEY STARVE THE WORKING POOR, THE UNEMPLOYED, THE DISABLED, THE UNDEREMPLOYED PART TIME WAGE SLAVES, AND THE CHILDREN OF THEIR ECONOMICALLY DEPRIVED FAMILIES! SEND THE MONIED PARASITES A MESSAGE! WE KNOW WHAT YOU'RE UP TO, AND YOU WON'T WIN IN 2022 OR IN 2024 BY GETTING US TO FALL FOR YOUR PITTING WHITES AND PEOPLE OF COLOR AGAINST EACH OTHER AS YOU'VE DONE SUCCESSFULLY IN 2016 AND 2020! BOTH TIMES TRUMP LOST THE POPULAR. VOTE, BUT THANK GOD, THE VOTERS PUT HIM OUT TO PASTURE IN 2020, WHEN HE LOST BY MORE THAN 7,000,000 VOTES TO BIDEN, COMPARED TO BY 3,500,000 VOTES. FOR HILLARY CLINTON IN 2016! IN EFFECT TRUMP WAS, AND STILL IS A DOUBLE LOSER IF THE POLUKAR VOTE TELLS YOU THE POPULAR WILL! NO MORE WILL AMERICANS LET PETTY DIFFERENCES IN ETHNICITY, FEAR OF LOSING THEIR MAJORITY IN POPULATION DOMINANCE, FEAR OF BEING REPLACED AND VICTIMIZED, SUSPICION OF AMERICANS OF COLOR USING REPRESSION TECHNIQUES NOW USED AGAINST POOR WHITES AS WELL AS AGAINST BLACKS AND IMMIGRANTS OF COLOR! WE ARE ALL IN TGE SAME BOAT. AND THE REPUBLICAN TRICKLE UPWARDS TRUTH DID NOT, AND NEVER EVER HAS TRICKLED. DOWN TO FLOAT OUR BOATS SO WE CAN FLOW ALONG WITH THE TIDE OF PROSPERITY THAT SUPPORTS EVERY SINGLE TRUMPUBLICAN CORPORATE TAX CUT AND ADJUSTED STIMULUS FOR THE WEALTHY FEW. NO MORE WILL WHITE PRIDE DIVISIVELY CONVINCE US TO SLICE OUR MUTUALLY CONNED WORKING CLASS THROATS IN A FRATRICIDAL CAMPAIGN OF PREDATOR VERSUS PREY! WE THE PEOPLE DO NOT SALUTE YOU VULTURE CULTURE FAKE CAPITALIST EXPLOITERS! YOUR FEARS ARE NO LONGER OURS. WE HAVE A COMMON CAUSE TO UNITE ALL AMERICANS FOR JUST AND LIVING WAGES, EQUAL SOCIAL JUSTICE FOR ALL BEFORE THE LAW, AND FAIR VOTING AND EMPLOYMENT LAWS THAT PERMIT ALL AMRRICANS TO HAVE THE RIGHT TO ORGANIZE WORKERS AND EMPLOYEES INTO EFFECTIVE, INDEPENDENT UNIONS PROTECTED FROM CORPORATE DISCRIMINATION! JIM CROW IS DEAD --- NOW ALL AMERICANS WHITE, BLACK, BROWN, RED, AND YELLOW ARE NO LONGER MANIPULATED TO FIGHT EACH OTHER TO SEE WHO GETS THE SCAPS LEFT ON THE FLOOR. WE ALL HAVE HUMAN DIGNITY TO COOPERATE AND HELP EACH OTHER. THERE IS AMPLE ROOM.FOR US ALL TO SIT AT THE TABLE OF EQUAL OPPORTUNITY FOR SOCIO-ECONOMIC, AND POLITICAL JUSTICE! WE ARE ALL AMERICANS, NOT MERE SERFS, PLEBIANS, OR PROLETARIANS TO BE PITTED AGAINST EACH OTHER LIKE WITTLESS GLADIATORS FOR THE ENTERTAINMENT OF PARASITES .

[@billcur3654]

The IRS does

[@uradragon7823]

Tit for tat the police are doing that to us. It is called Civil Asset Forfeiture.

[@ValueYourTimeOnEarth]

Tar and feather them

[@trex860]

The servants have become the masters. Lifeguards in California retiring after 30 years making $150k a year with full health care benefits.

[@marsh3825]

This just makes me sad. Also, this is indicative of so many of the problems in this country

[@gamtngirl3655]

Well said.

[@kayzyr9442]

Theft in public view! And yet Kentucky continues to vote Republican🙄

[@davidhardister8710]

@@kayzyr9442 The dems are the one that spends the state into poverty. Look at Biden’s ridiculous spending plans.

[@mistrmistr2516]

One nation, indivisible from the fall of Rome 🗽💩🚽

[@bipslone8880]

@@davidhardister8710 When did Democrats run Kentucky? How do they spend a State not ran by them into poverty? Republicans never have a plan but are good at creating straw men, pointing the finger and complaining.

[@gporr7004]

Sickening how corrupt this system is. Just pathetic!!

[@wendwllhickey6426]

I only the rich get there money that isit😢

[@seanroddick7531]

But it's funny people keep voting for the very people who screw them over!

[@madad0406]

Yep, cuz abortion.

[@wontbefooledagain9400]

Which ones? 😂 there is no good one to choose from, they’re all greedy vultures. You see we all work so a few can have more than they’ll ever need.

[@eddieroy2418]

Look what happens when a outsider like trump comes in they can’t even function when a non politician is in charge.

[@underdogpromotedonly8196]

Kentucky is one of many . California you are so screwed broke already and your real tax base is moving out as fast as they can . But Polosi. Newsome and Kamala are guaranteed their piece of the pie. Just keep voting them in ..

[@jeep19]

@Max Interson nah 😜 only the republicans want to get rid of, do away with unions, and pensions! They campaign on that 🤔

[@jeffcahill5722]

America. It was good while it lasted. At least for some folks.

[@mistrmistr2516]

For white people mostly, now the party's over.

[@nohopeequalsnofear3242]

You can say that again....

[@dpt4402]

Not really while other forms of government may appear to be winning the beauty contest their fake grace is just a cloak of a State press. America is the meting pot of the world where voices do change the course of human imperfections .

[@ehiggins360]

Yeah, it’s a wrap for america. Circling the drain.

[@jeffcahill5722]

@@dpt4402 let me guess, you've never been out of the US. Stop drinking the koolaid and believing the propaganda.

[@Isawwhatyoudid]

When these things happen the first thing should be to cut elected office holders pay & benefits. If the teachers & cops can swallow the fact that they are not going to get rich doing their job then the executive/legislative people sure as hell shouldn't get rich either.

[@BennieTarrMusic]

Police should be broke and homeless, just like the people they target.

[@MattSezer]

In places like NYC, cops can make six figures and can retire with free healthcare for life after only 20 years, so it’s basically the equivalent of being paid double their salaries. They are rich when you compare them to people making the median household income in the city.

[@BennieTarrMusic]

@@MattSezer Yes, and they still play the victim and steal money even more never enough + cocaine...

[@JaimeWarlock]

Pensions shouldn't even exist. Everyone should be part of the Social Security system. No special privileges for government workers.

[@oldslowjim]

@@BennieTarrMusic It only take 1% to spoil what we have. Maybe the 99% need to really police themselves. Or civilian oversight. Are police and fireman pensions too generous? Civil discussion is needed.

[@Alejandracamacho357]

The financial system has been artificially pumped for over a decade to ensure big pockets were lined; and now those same hands will make a fortune in the largest transfer of wealth in human history by shorting it on the way down. Inflation does have a roll, but that's to keep everyone panicked, and focused on their bills and expenses, rather than focus on the capital crimes of politicians and corporations, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market??

[@Robertgriffinne]

Even though there will probably be more pain in the future, investors should look for stocks like Royal Philips NV and Alstom SA that have been sufficiently battered down to be a bargain or get a great portfolio manager.

[@PhilipMurray251]

We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "DEBORAH SUE BOHN", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.

[@Alejandracamacho357]

@@PhilipMurray251 hello, please how do i find the lady you just mentioned?

[@roygbiv163]

@@Robertgriffinne hmmm, I’m going to look more into those stocks. They look interesting. I’m 38 and trying to find some stocks to invest in aside from the multiple ETFs I’m already in. Do you have any other “battered” stocks that come to mind? My 70 year old future self thanks you :)

[@G0DIS1]

Follow Congress's trades they have effectively beat the market. If I'm not mistaken there is an app that does just that.

[@Rick-ls6zo]

I started putting money into a 401k 20 years ago even though I had a generous pension. Much to my chagrin my company went bankrupt and the pension was gone. So thankful to have something.

[@Stoneface_]

Congrats bro 👏🙏

[@Unfamiliar_Fruit]

I’ve just now started an additional IRA that I control. Won’t be what it could be if I had started it 10 years ago when I started working. But it will be something.

[@Stoneface_]

@@Unfamiliar_Fruit nice 👍

[@stephensepan291]

it requires an expert to invest in a 401k. are you an expert?

[@Rick-ls6zo]

@@stephensepan291 I would not call myself an expert, just very lucky.

[@bodyloverz30]

The politicians will guaranteed get their pension, everyone else, good luck!

[@justsandy4381]

Yes, I wanted to ask that guy if he would(seriously) take that same plan, give it to the politicians as well

[@shannonjohnson4314]

So sad we as a country need to do better!

[@kennethroth6757]

My dad is a union worker retired they tax his his ssi,disability and health insurance..

[@monmixer]

Right, they have no problem with us being screwed

[@gantzuka]

@@shannonjohnson4314 You can't. This is the best as a country we can do. Either side in official control is a clusterf--k. What you put in office is what you see in your reflection.

[@neheboi1012]

I’m 21 & during my grade/high school school years teachers were always there for me. I always felt like most of them cared for me, my safety, & mental health. At that time I was too young to understand the power of money & how it’s used as a tool for safety & provision. Now that I’m older this truly makes me sad, how they treat the people that are some of the most important & influential people of our young lives is truly a disgrace.

[@calvindaniels1267]

just this year alone.

[@jonasrominger3065]

@@calvindaniels1267 contact please.

[@calvindaniels1267]

@@jonasrominger3065 southgatescapital

[@calvindaniels1267]

just search it, the first web.

[@calvindaniels1267]

then hitup the livechat.

[@ocean1233]

📢" how can you Shave in the morning with out cutting your throat" 📢 ABSOLUTELY 💯💯💯

[@GeorgeGetsItDone]

Expecting Morals from people without Morals is the issue

[@DonnieDarko1]

🙁✊

[@theflaca]

Exactly. Business used to have ethics. There was a time when no one did business with communist China. My men do nothing but. Signed Melbourne Australia

[@riggingpots3453]

Fuckin a that's exactly right

[@brandonbakhtiar7451]

More like, “expecting fairness in capitalism is the issue”.

[@kcmothersonteam38]

Thus why Bitcoin was created

[@FinancialShinanigan]

Poor steals from the rich: consequences Rich steals from the poor: corner office

[@Arperture]

And if they get caught, they are outfitted with a nice golden parachute.

[@waywardgeologist2520]

Most of the time property tax from the really poor goes to fund the salaries of the teachers. The same teachers who make well above the average salary. Let's start by getting rid of the property tax and privatising education.

[@Arperture]

@@waywardgeologist2520 1. Teachers rarely make well above the average salary. What should someone expect to make if they do four years of college, two years of certification work, spend their evenings and weekends off the clock grading papers and working on class syllabus ect? 2. If we privatize education, how can we insure that kids in poor areas receive access to the same quality of education in their neighborhood that kids in the rich suburbs receive? Do we ban private school's ability to discriminate who they accept if they get taxpayer money? Do we want taxpayer money to go towards religious organizations? 3. Getting rid of property tax sounds great, but the government will simply shift the tax collection to another mechanism, such as sales tax, gas tax, ect.

[@zacrl1230]

@@waywardgeologist2520 Wow, that is a horrible idea.

[@jerryrichardson2799]

Correct!

[@randallsmith5631]

Deny the Kentucky legislatures their pension.

[@coconutmacaroon4907]

You can't educate dishonesty or stupidity out of people. Our society rewards both of these traits. Its rare to find honest and intelligent people. They actually don't do well in our system. Its not a bug, it is the feature.

[@billyd8401]

Politicians have stolen from or neglected these funds. They should be in prison for official misconduct

[@talscriver5870]

It’s not illegal when the legislature approves the spending.

[@MrCameronChung]

As shown in the video, I think politicians in the past have definitely neglected these funds and fund board members (who benefited by serving on the board) may have stolen from the funds as kickbacks.

[@ramanujamsooriamoorthy4743]

They should be executed.

[@damianoyibo507]

@@ramanujamsooriamoorthy4743 Like in China

[@BennieTarrMusic]

@@damianoyibo507 China has family values. So they don't abandon men who fall on hard times. The Americans are totally opposite.

[@kevinj2261]

Thank you PBS for letting us watch this doc for free, your film never let me down , thumb up and keep going!

[@tainapura4766]

I took a very early retirement, paid into my state pension for almost 30 years . I wasn’t planning on social security . This is very alarming

[@andramcdowell3193]

Retired teacher from Florida. It has happened to me here. 😶. I don’t ever mention this. Thanks Frontline for letting everyone know. 😪

[@thearchedpromise3271]

What happened to you in Florida?

[@hollybigelow5337]

The scary thing they aren't telling you is that this is definitely not just a problem for public employees. I remember in 2001 studying specifically about how specifically GM hasn't properly funded it's pensions and about how this was a major problem for many, many other companies partly because of the way the accounting rules are written. The FASB tried to fix the accounting rules, but the companies put pressure on Congress and Congress put pressure on the SEC who put pressure on the FASB, so basically companies have to report everything in the footnotes, but nobody pays attention to the footnotes. The pension insurance cannot possibly cover even a fraction of these plans. For some reason, when I tried to tell people about this only a handful of other accountants thought it was an important issue. Yeah, the government and companies have screwed up, but if people cared this could have been handled decades ago. But most people see themselves as "above" politics and prefer to just ignore issues until it's too late.

[@angry-white-men]

Well, lets just say the government is in panic mode right now because of what you stated. If people knew what was happening to their money they would also be panicked and start a run on the banks. You can't have a system based on debt and infinite growth in a world with finite resources and a declining population. I'm guessing the politicians thought they wouldn't be alive to see the collapse of this economy and someone else would be blamed but they sure will be and they should be very frightened as to what will happen to them.

[@alistairhazell9877]

I keep saying the same thing.. this Partisan Politricks needs to stop. If people just stop being so f .. u .. c .. k .. I ..n .. g arrogant, put their pride, shame and prejudice aside and start holding these crooked ass politicians, Rat's and Cons alike maybe things will change. But instead we wanna fight and beef amongst ourselves about our origins and skin color as if that really should matter at this point 😤

[@chad3232132]

Early in this video the interviewer asked the (forget if he was a firefighter or cop) if he was knowledgeable enough to serve on the Kentucky pensions board, and he basically said no. Well, this applies to nearly all working private sector Americans who contribute to a 401k plan. The shift from pension to 401k has made nearly all Americans pension fund managers for their own retirement account. Next to nobody is qualified to do that and few Americans have so much as a personal finance course in grade school, let alone a finance degree. I *do* have a B.S. in Finance, M.S. in Accounting with 15+ years as a financial professional and I barely feel equipped to manage a 401k. Most family members and friends who ask me for advice on their 401k plans are in *horrible* condition. I see people in their 40's or 50's contributing 5% of less or their salary to their retirement plans, are often invested in plans with absurdly high fees, and with their money invested in funds either far too risky or far too conservative (low returns, like money markets). I almost always push them away from active trades, high cost funds towards either low fee target date retirement funds or a mix of index funds (mix of S&P, bond indices, etc.), and a higher rate of funding their plan.

[@dwightk.schruteforpresiden7221]

Not quite true. I worked as a financial analyst and footnotes are ALWAYS looked at, pension footnotes in particular due to the sheer amount of detailed information in these notes. We have had several workshops on pension accounting standards (for valuation purposes) and I suspect many other similar institutions have had it as well. Important to note as well is that the pension liability is very uncertain for DB plans, and companies are required to value it using LT corporate bond rates, but the uncertainty of the liability is of course much higher than for LT corporate bond yields. This means that most liabilities are overvalued and that the funded status is not nearly as bad as it is deemed in the financial press. Of course, this does not even factor in the uncertainty of the actuarial assumptions used. It is very clear to me that these journalists really do not understand how to value these liabilities and instead attribute the underfunded status of these plans to corporate greed or corruption as a way to "find a story" and sell headlines. The problem, IMO, is not unproblematic, but it is overblown somewhat. If the accounting boards, in conjunction with world-leading financial researchers within pensions cannot find an appropriate accounting standard for valuing these liabilities, then I find it ridiculous to take what these journalists say at face value.

[@tomyao7884]

@@chad3232132 But managing a 401(k) really isn't that complicated if you just put everything in the s+p 500 index if it is offered. The problem is that this is not well taught and 401(k) funds have generally higher fees than you can get in the free market. It should really be a default setting to have your money in a s+p 500 index or maybe a target date fund

[@kayzyr9442]

Wow! Hedge Funds created Kentucky’s pension problems, and they elected a Hedge Fund Manager to solve them😳!

[@kevintartis4421]

The issue is Democrats raiding the funds

[@js27-a5t]

@@kevintartis4421 No, it's republicans. They raided the funds, didn't believe in raising taxes to cover it, were ideologically opposed to continuing the funds, invested it in hedge funds, and lost the money. Did you even watch the show?

[@kevintartis4421]

@@js27-a5t the documentary even said. gov steve beshear raided the funds. A Democrat. The Republican Gov was elected to fix the mess.

[@bipslone8880]

@@kevintartis4421 You are a LIAR

[@kevintartis4421]

@@bipslone8880 the gov they pointed out that raided the funds was and is a Democrat. That republican had to come in and fix the problem. Moving retirement to 401k was to make sure future Government can not raid it

[@austinadjutant5684]

It’s remarkable that we don’t have any problem spending trillions of dollars on wars and billions of dollars on fighter jets that don’t get used yet we can’t even fund basic social safety nets

[@skipjackjohnson5528]

We have a brand new aircraft carrier worth 13 billion dollars.

[@insaaanestuff]

We need wars and guns to keep bastards out. Why do we need to pay for everyone inside? Nothing's free. Take care of yourself.

[@robnelson6545]

Country isn’t going to defend itself.

[@josephj6521]

@@insaaanestuff so it’s OK to take people’s money is it?

[@parrisprice5892]

You just stated about half of whats wrong in America, greed by the military industrial complex, and the bought off politicians who advance the contracts

[@dk-qr5xt]

These truly solid documentaries beg the question, at least from the American perspective that I see them through, how much longer until we do something about all of this? Personally, I find this question to be incredibly easy and hard to answer at the same time. Easy because we're (almost) all being backed into a metaphorical corner and my soul has a clear understanding of the evil from which this stems from. And hard because I'm well-fed, married, have fulfilling relationships with family and friends, enjoy various hobbies, am safely tucked away in a small town where people politely ask how you're doing, and so on. Maybe I'm being dramatic here, but the notion that, regardless of one's day-to-day, we're watching our empire fall feels pretty tangible, at least to me. And much like ashes leftover from a destructive fire rejuvenating the forest around it, perhaps some form of destruction is necessary to rejuvenate this country. If you've made it this far, thanks for reading this blog post of an evidently disillusioned mid-20s office worker trying to make sense of all this. Take care, and God Bless.

[@redbaron9029]

Let Taliban run the financials of pensions. They are not Greedy like the wall street banksters

[@drackkor725]

LOL, you trust PBS? LOL!!!!

[@justcommenting4981]

I am right there with you brother. I can't really see a world that can be left peacefully when the time comes. The ties to this machine are so frayed.

[@gigamay1]

I appreciate all the work that went in to make this content FRONTLINE PBS. Also to give more awareness and severity of this subject matter. Thank You and keep it coming. I watch every single one of your documentaries.

[@naswiipp]

The rich steal from the weak. Very sad.

[@bohemianchic638]

It’s the wealthy not the rich two different classes

[@mostlypeacefulrowan8747]

The weak signed up to a pyramid scheme.

[@Antechynus]

And our so-called representatives help them do it... revolution is inevitable.

[@fresatx]

Public Workers steal from ALL of us.

[@nevadataylor]

@@bohemianchic638 Its capitalists. We need to get rid of capitalism to stop all this absurd cronyism.

[@justsandy4381]

My son told me he’s going to university to become an educator, and as a teacher, for this (benefit reduction) and many other reasons, I told him things have changed, it’s not worth it anymore.

[@bipslone8880]

That's what you don't understand. People don't become nurses and teachers for the money, other people will take advantage of that. You say "it’s not worth it anymore"...you don't get it

[@OneAdam12Adam]

Demand that he change his major. Teaching is worse than working at a grave digging company. You dig your own grave working 7 days a week and you're told your still not doing enough.

[@robnelson6545]

If he doesn’t like it, he can get out and do something else to make more pay. I’ve known teachers move into IT and sales jobs and get paid well. Teaching is a valuable skill. Being a teacher though can still be a good gig. You get a lot of extra days off and your summers off. I’m an engineer and I don’t have energy left at the end of the day to work extra but teachers I’ve seen routinely do this and they start businesses on the side. I wish I had extra reserves left over to do that. Plus teachers are in the classroom most of the time and don’t need to be a team player as much or sit in meetings and be thinking about how to communicate or lead all the time.

[@bipslone8880]

@@robnelson6545 It's sad that you don't seem to appreciate teachers. You know everything is not about money.

[@robnelson6545]

@@bipslone8880 I indirectly said that it’s a good gig due to the days off and that you don’t have to deal with power relationships with adults as much and you have more energy left over and you can transfer your skills into many high paying fields if you want to later.

[@markbrown8762]

I’m a dividend investor, My wife and I have invested in the S&P500, both through my TSP with the government, and through Fidelity in her 401-k. Cashed out 270k from the S&P and invested with a Financial adviser, Jane Marie Kunak. Until around 3 years ago we were 100% in the s&p after over 10 years. I'm retiring at the end of this month at 42, while my wife will retire next year at 40. We currently have 2.7 million in our tax deferred savings..

[@clairehunter6389]

Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.

[@bruce6985]

Thanks for sharing, I googled the lady you mentioned and after going through her credentials, I can tell she's a pro. I'll be writing her a mail shortly

[@Frank-wk7ww]

I did read a bit about Jane Marie Kunak on the web., quite an interesting lady with an amazing track record

[@Fetchem1222]

Y’all lame for this shit. But it’s kinda clever.

[@TexasMade903]

I max out my TSP contributions every year.

[@TheHexediter]

Why not invest in low cost index funds? It doesn't need to be any more complicated then that unless you want to gamble or someone is getting kickbacks.

[@scisbell8054]

Because the state with then be unable to commit payments to future retirees that met labor contracts or expected future costs of living. They need a rate of return that beats inflation to meet existing commitments.

[@davidr9589]

@@scisbell8054 low cost index funds can do that. Good returns, low fees.

[@haught7576]

@@scisbell8054 mutual funds return 7% OVER inflation, if you have money in stocks it should be in mutual funds.

[@Wolfangs88]

Because the business of finance is the business of making people believe that "hedge fund managers" can see the future and are able to outperform the market. The reality is, those "hedge fund managers" are only after the fees, which is guaranteed money no matter how the fund performs

[@DonnieDarko1]

.

[@MattCommins]

You can't have a committee of 20-30 people and only 2 people with investing knowledge. The people who created the structure of kentucky's pension finance committee deserves all the blame.

[@TomTom-xp2jb]

A Pension is a Promise!!! Love the spirit of the Teachers of Kentucky!!! All the best from Canada 👍❤️👏Thankyou PBS!!! We need more honest reporting like this!!! 🌟🌟🌟

[@Jme---]

No better way to prepare for retirement than buying, holding and buying more dividend stocks. You will thank yourself you did!

[@Patriciacraig599]

Fact. It's interesting to see dividends like SAFT, PSX, NKSH and PM doing well after all the doomsday analyses from naysayers

[@Alejandracamacho357]

@@Patriciacraig599 The present market has taken a whole new dimension unlike before one can predict the market by studying chart or listening solely to analysts.

[@bobbygunz9254]

@@Alejandracamacho357 Just seeing that Philip Morris (PM) now yields more than 5%, it's amazing.

[@PhilipMurray251]

@@bobbygunz9254 A whole new dimension! I now see this clearly. Any idea how one can find a sound advisor that may aid or probably give guides on how to stay above these market challenges in one's investment

[@Jme---]

@@PhilipMurray251 There's a good number of them on this space but you have to be particular about competence. Nicole Ann Sabin is my Advisor, She has been of great help and her tutelage has brought me to a higher understanding of profit generation. You can look her up online and verify her yourself.

[@la7era1u54]

Legal theft. No better than a common criminal, but when you make the laws you don't need to worry about those pesky things

[@skipmatsey7738]

You speak the truth. Unrealistic promises in exchange for votes.

[@bencintron2368]

That's exactly what is the police protect legal theft also they are the goons for the 1 percent.

[@josephj6521]

True. Theft. Go protest until the money is paid back. Let’s see if the state can function without police, teachers, firefighters, ambulance personnel, etc.

[@elchapojr6219]

I love the beginning of this Documentary it gives how quick something can change from good to bad

[@chrisphillips0000]

They could avoid all these crooks and save investment fees by just buying in a total world index fund from Vanguard!

[@Stoneface_]

Exactly or vti( Vanguard total US stock market) you don't have to pick individual stocks or pay management fees but they handed it to hedge fund with no track record smh

[@nedkelly2035]

Agreed, but too late now. They have already lost most of the money.

[@galupproperties3098]

@@nedkelly2035 and collected huge management fees all along the way 😅

[@davidpowell3347]

Warren Buffet's famous bet as to whether a group of hedge funds could match the performance of the S&P 500 Index Fund? (as available to retail investors)

[@veritas3179]

Agreed.

[@Cruelaid]

I don’t see any of your politicians doing it tough. You guys & girls are the heart & soul of America & they couldn’t have cared less. Wishing you well from Australia

[@ANGELFRIEND62962]

My god, greed destroys everything.

[@Angel-tw3ko]

The love of money is the root of all evil.

[@sabrina.natalie]

💔 It really does! Greed and corruption is horrible!

[@mjohnson1741]

I would also add ignorance.

[@thejquinn]

Actually capitalism does

[@madalomusic2097]

@Justin Quinn yeah let's all become socialists like Venezuela. Ask a Venezuelan how that's going.

[@thisbushnell4824]

Corporations have done it for decades. That's why I'm still holding a job at 70+.

[@Polack-ml9fh]

Sorry to hear that

[@cyclops9125]

U can participate in "bring coffin to work day"

[@thisbushnell4824]

@@Polack-ml9fh just glad that, so far, I am still able.

[@Markdfadf]

No. You are still holding a job at 70 because either 1. You like it. 2. You didn't save and invest over your lifetime. You lived through a remarkable 40 year period in stocks from 1980 until now. Look inward.

[@NicoleM2108]

@@Markdfadf You obviously have a very obtuse view of the world. Not everyone had their street lined in gold in those years. You had to be male, white, and "right". You had to have been granted the opportunity to make enough to be able to save. And, you had to have the "right" company (and the backed invite as part of your work package) to get the match investment opportunities. If not, you were relegated to the back and often times that meant your pension plan was rendered insolvent due to bankruptcy (and all other sorts of tricks they played on the little guy to NOT pay pensions). Look up Friendly's restaurant and Sun Capital to see just a hint of these tricks in corporate America. Get the facts before you judge people. Also, healthcare was done away with in full time employment. This took a chunk out of that generation also. Most people are still not in the market and it is 60 years later so save your judgement and be thankful you are not in such a situation. If you are so good at predicting the market, why don't you solve this poverty in the more advanced years issue...I thought not!

[@louisgunn8471]

Why do government officials get pensions and nobody else does?

[@xxCodslayerson]

Their all negotiated by unions . Private company’s have pensions too like UPS.

[@usazar]

Everyone should.... The questions you are asking show how America's middle class and poor are taught to fight against each other..... Unless you are a multimillionaire.

[@keyurpatel1982]

@@usazar Pensions come from what you have saved over the years and how much those savings have grown. They ABSOLUTELY CANNOT come from anything else

[@ripred42]

Because private sector unions were bought off and broken up by anti union efforts backed in part by the government. If they have all the bargaining power, you just have to take what they give you.

[@Dowell318]

Because only governments can afford such an irresponsible promise, as defined benefit pension plans are. Private companies, such as the automakers, tried those plans for many years, but most have now switched to 401k plans (defined contribution) for the simple reason that private companies can't afford to pay retirees who are no longer performing any work for the company. They have to make a profit, and that additional cost just becomes prohibitive, especially with people living so much longer now and health care costs so high.

[@robertandrews6915]

Letting politicians gamble with taxpayer money is just horrible. Those politicians should have money taken out of their checks until they pay off some portion of it.

[@donchoq]

All the politicians that created it are either dead or out of office. they knew what was going on..

[@sharonz3337]

I've watched Frontline for many yrs now. I've always found that they do a good job of their doc stories. And things that are going on in the world. Their also not biased but neutral😊

[@OhioDave1345]

Not biased? Suuuuuuuure.

[@bilbm5208]

not sure about bias 🤔🤔🤔

[@vwhisp1394]

Your 100% correct. Their not biased.

[@sharonz3337]

@@vwhisp1394 Ty, I'm 57 now and have watched Frontline since I was a teenager so I should know based on those yrs lol😊

[@anthonygalaz5922]

@@sharonz3337 Frontline is nothing but a weekly commercial for the Democrat party

[@martinjohnson5498]

I don’t know about KY but lots of states increased the pension benefits formulae in the late 1990s when the stock market was high. Then the crash and they started cheating on contributions… but those increases right before the crash are also a big part of the story in many places. Selling our middle and working class out to China didn’t help either, as that degraded the revenue base.

[@justmyopinion9883]

I'm surprised the police, teachers and firemen still get those old fashioned pensions. Most other jobs have went to self directed IRA and 401k accounts.

[@davidhoward437]

Because they trade pay and conditions for a guaranteed pension. Do you really think society can do without police, firefighters and teachers? Thay are not going to work for peanuts.

[@Polack-ml9fh]

It’s a catch 22 for politicians against unions. Bust the police and fire fighters unions and save money on pensions and look like a police hater or side with them and say it’s only ok for the police and firefighters to have a pension. It’s all politics.

[@lynnjudd6421]

Or not much of anything at all.

[@onlyone2948]

Have only Wall Street and other finance people in war, street conflicts, etc. That might be amusing.

[@desmondburnett9286]

@@davidhoward437 my company had a defined benefit pension and changed it to a 401k. I was luck to be grand father for the defined benefit. Because of the defined benefit and my 401k I will be ok in retirement. I/3 of most 401 k have less one hundred thousand dollars at retirement

[@deefpaladin]

It's not just that it is a promise, it was a promise. My whole life it's been promised that gvt employees get pensions. People retiring today worked for 50 years under that promise and had it yanked away.

[@gregorylyon1004]

I didn't promise them a free ride pension

[@epierre727]

That’s why wallstreeters called these pension funds “dumb money”…..

[@1MinuteFlipDoc]

retail investors are dumb money too. anything to make them feel better when stealing other peoples money.

[@TomTom-xp2jb]

@@1MinuteFlipDoc 👍

[@cirenamrac1618]

We are all just cash caws.

[@kenhubbard7355]

@@1MinuteFlipDoc and it's all done by Americans, nice people eh

[@westfletcher9219]

@@1MinuteFlipDoc yes mutual funds succk

[@sugarman08]

My father told me 40 years ago don’t count on a pension that might not be there he was fucking right

[@purifypurify7559]

u must come from a good family bro, my parents dont even know the definition of what a pension is

[@greenearthblueskies8556]

Hope u saved

[@sugarman08]

@@greenearthblueskies8556 of course

[@granmabern5283]

My history teacher forty five years ago told us not to count on getting pensions. He explained that birth control made it mathematically impossible because the pensions were mostly based on continuously garnishing new worker’s pay checks...

[@Schrankerle]

What scares me is to hear an educator say she has no savings or back up plan. I didn't know saving for a rainy day was optional.

[@INNO222]

This has been going on since the 70's. And they act surprised. The next 10-20 years is going to be fun. Real fun.

[@jerryrichardson2799]

I've said the same thing about this problem several times.

[@theartfuldodger5326]

As a teacher in NC, I feel this so hard. I wore Red4Ed & marched in 2018. To what end? I don't know. 😥

[@Nottotv]

Both republicans and democrats support wallst so

[@justcommenting4981]

Might have to march with more than shirts to drive the point home to these people. History repeats. Greed makes people so stupid.

[@tomlxyz]

"have not made the payments they were morally required to make" Why was that requirement not put into law to make it a legal requirement

[@davevaccaro]

Pensions are moral agreements. Based on trust. It can not be a legal requirement because there is no guarantee of financial return on investments. A pensioner is trusting that the pension manager is wisely investing the group's money, to earn money, but the earning of interest can not be legally bound because of the inherent risk of investment and the potential to lose money. Every pensioner is trusting pension managers to be honest about the money. But when "loss" is an acceptable option, and not illegal, many see it as an opportunity to "lose" the principle money into their own pockets (through transaction fees) and blame it on "risk" when there is no money left.

[@johnbee7729]

Tough to have the lawmakers make laws that bind their own hands

[@havokbaphomet666]

@@davevaccaro The irony of having the government slice your wage by a percentage and then having to "morally" repay one when retirement age comes. Only in 'Murica

[@arthurr7866]

What the heck is going on in Kentucky ??? They already get $1.50 back for every dollar they pay into the Federal Government coffers. A very disturbing situation with the pension of countless people who work as Civil Servants.

[@edcar8713]

$1.64

[@marktomasetti8642]

In large societies, the most clever sociopaths take & keep the most power. It’s very difficult to hold someone accountable after they’ve obtained a certain degree of power. They can get-away with almost anything.

[@marktomasetti8642]

@@ramon3897 - Every nation on the globe is a large society, there are no exceptions.

[@kevinfleming5663]

Psychopaths too

[@user-li5gl5cq9t]

I taught for 32 years and retired with a Defined Benefit pension (annuity) for life that is 80% of the average of my top 3 salaries. I have access to government retiree health insurance and a 2000 dollar yearly COLA gift. Needless to say this offer wasn't going to fly forever and was withdrawn in 1995 but not before I took advantage of it. Now teachers are made to join a Defined Contribution plan that basically gives them a crappy 40K in stocks. And works them for 47 years. What a difference!

[@peternorthrup6274]

Long overdue. The days of defined pensions are over.

[@robertruschak7083]

Welcome to the new world and reality

[@pmill5781]

Lots of 401k millionaires out there and it’s portable….It’s YOUR money..If your relying on the government….good luck

[@californiaslastgasp6847]

@@pmill5781Yeah, if you contribute the max over a career. Most people can’t spare $20K per year.

[@Jeremycoxloa]

@@californiaslastgasp6847if you invest 20$ a week for 40 years and make 10% on that “investing in the S&P 500. You will have 400,000k. So no you don’t need to contribute 20k per year.

[@werthersoriginal]

Here is the update for those who are unaware this doc came out in 2018. Beginning in 2022, new Kentucky teachers will be placed on a "hybrid" pension plan that combines elements of defined contribution and defined benefit plans.

[@doom2avatar]

Not sure what their long term plan is. You can get away with a crappy education system if you import educated professionals but kentucky is one of the most xenophobic states in us

[@sandysimpson4785]

What does that even mean??

[@jeffworob3453]

There is a reason educating and enlightening documentaries are only on public tv stations. Most other stations owned by corporations love to keep us distracted with nonsense like the masked singer and kids say the darndest things. Keep the majority stupid to prevent any mass organizing to change the system.

[@NicoleM2108]

This is why certain "politicians" want to defund PBS. They have railed against it for years. It is the only thing worth watching in terms of educational programming.

[@danherrick5785]

This is exactly why the internet is so important. You can learn and listen to whatever your interested in and important to you. Just look at the state of policing in the US today. I believe the reason we have BLM and Antifa today is because people finally have a phone with a camera and video. People are finally seeing the policing world as it really is. And people are now waking up and rising up to the reality of the world's police state!!!

[@rosshoover6986]

You're absolutely right!

[@jameshisself9324]

Ratings. It's only and all about the ratings. The majority of viewers don't want to watch this.

[@VanisleGirl1961]

And keep you working till you die, while they get richer...we get a pittance. It leaves no time to speak out or take any meaningful action. Keep us all barely making while selling us crap that is supposed to make us feel "happy."

[@jonhennemann4729]

When Inflation went down, the pension system got screwed. In the old days a Police man in 1970 made 4K and his pension was 4K. Now it is 100K in a big city and to generate 100K with a annuity you would need to put in about 4 million for a police man retiring after 20 years in his 40's and getting paid well over the 20 years he worked.

[@SeattlePioneer]

> Thank you for pointing out how grossly excessive public pension are, and have been. The public wasn't watching and unions negotiated grossly excessive pensions. Then, when unions and union members weren't watching, politicians tapped public pension funds for other purposes. That's what taxpayers, and pension beneficiaries get for not paying attention.

[@Ammo-Hoarder]

50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $4 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[@MIchaelGuzman737]

Right alongside you. No debt, early retirement. Children are well-cared for. On 11 acres overlooking the river valley, I'm constructing the house of my dreams. There are many methods to get rich right now, but only real-time professionals are capable of making such high-volume, near-perfect transactions.

[@JK-zt4ym]

"I trusted the state with my money" Nothing about that sentence sounds like a good idea.

[@jerryrichardson2799]

Much safer than the markets, fact. Also, let me remind you of "W's" effort to partially privatize Social Security, he couldn't sell it to _Republicans_ , but clearly you don't know or remember that and neither do the people who voted your comment up.

[@JK-zt4ym]

@@jerryrichardson2799 spoken like someone who doesn't understand the market. As a vehicle for retirement, the market trounces Social Security. Take any 40 year period in history, then take 12% of any imaginary salary (the cost of SS) and compare the end result. SS doesn't even register on the scale. Let's not also forget that there are safer vehicles available in the market at less return. It's a well known fact that pensions are fee riddled dumb money. The only countries in the world that have truly sustainable pensions peg them to the market.

[@angry-white-men]

Yep, bad idea. Never trust the state with your livlihood.

[@danithaman4610]

There’s a lot of political comments in this comment section. I’m not sure why people think one group of politicians or another will help them. Neither side cares about you. We are mere peasants to them. They want us all to fight each other. Get your heads out of you know what!

[@smwrbd]

One side definitely is better and it isn't the side that continues to give tax breaks to the wealthiest while taking from the poorest.

[@talscriver5870]

Perhaps it’s best just to do away with government as much as possible.

[@MrBobberino01]

"I trusted the state to deal with my money." That was a mistake.

[@rodsalvador3608]

That's it, right there. I took my job assuming my pension would be mismanaged, and saved every dollar I could. you always have to distrust the government. Always. Never depend on somebody else.

[@jeffreysnyder290]

@@rodsalvador3608 And yet you depend upon the bank or brokerage that holds your money. Or really, you trust the government to enforce the contract between you and the bank / brokerage.

[@talscriver5870]

But when asked to pay an additional 3% then they started caring.

[@lucanidae100]

you mean the taxpayers money?

[@douglei4413]

But it was the hedge funds that lost most of the money

[@MarcelPhilips]

The collapse of Margin debt leads to a decrease in stock prices and trigger a wave of selling as investors try to cover their losses, Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $145K for sometime now, my major challenge is not knowing the best entry and exit strategies ... I would greatly appreciate any suggestions

[@BrunoLuke]

I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.

[@MarcelPhilips]

@@BrunoLuke I agree, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a financial advisor and in less than a year I was just $51,000 shy away from $640k which is like 7x more than I make on my own..

[@BrunoLuke]

@@MarcelPhilips I've been thinking of going that route been holding on to a bunch of stocks that keeps tanking and I don't know if to keep holding or just dump them, think your Inv-coach could guide me with portfolio-restructuring..

[@MarcelPhilips]

@@BrunoLuke I've shuffled through a few advisors in the past, and *MARTHA ALONSO HARA* remains the most resourceful thus far. Her strategy proves profitable, and sustainable both in a bull & bear market. Most likely, her deets can be found on the net, so you can confirm yourself.

[@BrunoLuke]

@@MarcelPhilips I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her.

[@purplechemdawg]

as a man raised in KY I have to say the government has failed me here in so many ways.

[@Gizziiusa]

Did the govt even use KY Jelly on yas to help with the pain, or not ?

[@Generali087]

Well I'm sure you voted for them

[@mtnbiker4480]

The start of the problem is the assumption that you can work for 20-30 years and then live another 30-40 years drawing a pension in retirement. That math doesn't work.

[@Megibson]

Could not of been said any better. My 92-year-old grandfather is a retired fireman and he collected his pension way longer then he ever worked.

[@tonylinardi3089]

Look at the average age of the worker. That is 70 to 80. If you work to 65 that's only 5 to 15 years to collect what you have paid into the system. Many die before they even collect! Wake up and smell the coffee. You must be young, chase the carrot!

[@imkindofabigdeal4308]

@@tonylinardi3089 Federal, state and local government. Teachers, Police, fire, park rangers, lifeguards (in So Cal retire after 20 years at over $100K/yr), everyone at city hall, the entirety of federal government including all the flavors of agencies and law enforcement. Military. The massive increase in disability payments - most not legit. Our welfare industrial complex. Yes Tony, we have a lot of people retiring after 20 or 30 years, sometimes double dipping or just not working at all, but always asking other the people to work so they don't have to. Not sustainable. I know what coffee smells like. Worn a few different colors of collars. Full props to the regular folks who work hard and honest.

[@hopefletcher7420]

@@tonylinardi3089 What people use to do in my industry (commercial insurance) is work for 20 years for one carrier to be fully vested, and work for another for 20 years. Voila, two pensions. Of course, this was back in the 70s and 80s before 401k's let employers drop pensions.

[@Gypseygirls]

Thank you front line..you've been apart of my life for many years ❤🙏

[@morrisonclark1426]

Oh yeah. You're kind I appreciate.. so true dear ❤️

[@susanclaire901]

I could listen to Martin Smith talk allll day.

[@midknightfenerir]

As always great documentary Love and Respect you Frontline.

[@MrTwenty20video]

✔

[@clridesagain7308]

My favorite program.

[@vincenttemperino2144]

There will always be paid teachers someone has to babysit the children while both parents have to be employed.

[@Polack-ml9fh]

So true, most parents only look at teachers as baby sitters. There was a video somewhere on KZbin of a mother of an elementary child who was screaming at a teacher because her child didn’t know how to tie their shoes.

[@tiadeese]

Lawyer is disbarred for illegally paying plantiffs due to crooks who stole from them in the first place. The f*ckin' irony. 😣

[@Kunfucious577]

I noticed that. Unbelievable. That pretty much sums up the wholr issue. Shitty lawyers politicians and brokers telling all the parties involved a different story to make their cut. Everyone is fighting a different fight here. How do u come to a compromise?

[@waynesimpson4081]

Yes, lawyers can not "forward" expected awards to, or contribute to cover needs of clients even if that hardship is the subject matter of the lawsuit. ABA Model Rules 1.8(e)

[@Manx123]

Unsurprising that so many public jobs, federal and state, are based on low wages and high pensions, since it lowers costs in the present, but raises costs when the people responsible for finances in the short-term will be long out of power. It's also unsurprising that states just basically give up trying to honor those pledges, since it's not doable within their financial structures.

[@gregorylyon1004]

Yep. My brother worked for the public school system for 28 years. He made low wages the whole time. He only stayed because of the pension fund. A lifetime promise of a check for life. They offered him an early one for full money. He took it and then found out that he gets no medical benefits at all. He just gets his check and that's it. Had he worked the other 2 years, full benefits would have been mandatory. That's why they gave him an early out. Lol

[@johnk5825]

49:23, that is the real problem, you can blame Wall Street, you can blame the politicians, but the real problem is the voters, the taxpayers, they don't want to pay more in taxes to save an outdated pension system.

[@concernedcitizen780]

And many of those tax payers don’t have a pension

[@imbrudedsoul]

Why would someone want to pay into a corrupt tax system that literally funnels their money into corporate elites pockets?

[@johnweb7055]

And nearly all civil servants get paid less than they would in the private sector. I spent 20 years as a government employee. The citizens of my stare got the benefit of my lower salary, all I ask is that I get the benefit that was promised to me.

[@STScott-qo4pw]

not to mention voters overwhelmingly keep voting for things/people that aren't much good for themselves.

[@OneAdam12Adam]

This is a lie. The pension system is not the problem. Politicians using our money illegally is the problem!

[@jasonmako343]

"Morally required to repay" Where's the legally required to repay + interest?

[@northwestgardener5076]

Legally required, the laws can be rewritten in an hour and then your promise was from people who aren't around and spent your money and never funded any trust, they gambled your promise in the stock market. Enjoy and next time read the fine print befor you work with the government that can't balance a budget.

[@jonathanjones3126]

Pensions will probably be declared null and void in bankruptcy

[@whygohome172]

They are WAY ABOVE THE LAW and just plain BETTER than us average worker bees!! You retirees can always go back to work for that $7 MINIMUM WAGE!

[@MrCameronChung]

@@jonathanjones3126 Absolutely... Look at Detroit's pension programs...

[@e.s.l.1083]

what a disturbing response: "there have been plenty of bills i have voted on without reading them."

[@e.s.l.1083]

a task performance, that is too heavily laiden to be possible, that as a precursor, is fascinating i have to sit with the notion of it with what great actual worth, such a word (here) like 'impossible' imposes to serve i don't know... (interesting though, i have long thought it was 'the clerks' who ran 'the show' - that is, so far as most organizations go) ty, for your comment in further explanation - super human like then, the very expectation

[@goodvibess31]

Basically describes California voters

[@historylabstudio]

It was perfectly fine when Nancy Pelosi told you "Sign the bill, and read it after". You got Obama Care.

[@dlozado167]

@@historylabstudio in the middle of the night .

[@rogerjohnson898]

Appalling, can't believe I heard him saying that n boy was he arrogant & who voted him in anyway?!

[@puppetmaster3371]

I was lucky to have retired in 2009 at age 56 with a full pension and savings because I started at 12 to put money by picking bottles and working for the milkman. Would get up at 3:30 am every morning, had Wedneday and Sunday off. Would do the run and he would drop me off at school after for 8:00 am. God I worked my ass off at all kinds of odds jobs but now living without financial struggles even though many health problems including a treatable blood cancer with chemo pills and broken back. I guess everything has a price in life.

[@Crashed131963]

Same thing happening in the Congo in Africa. Civil servants not getting their retirement pay.

[@DavEstra01]

Kentucky should ask their politicians like Mitch McConnell for help. 🙃

[@kevintartis4421]

Why? Democrats spent it

[@stephenduke412]

@@kevintartis4421 Yall Forgot about the former president.😅🤣😂

[@kevintartis4421]

@@stephenduke412 and? He didn't spend Kentucky pension funds. Democrat gov steve beshear did. Now a republican gov has to fix it and is being vilified

[@stephenduke412]

@@kevintartis4421 Didn't Trump funnel 130k from campaign finances to RAWDOG A PORNSTAR for 90 seconds. Just to call her Ivanka. SAD.

[@bipslone8880]

@@kevintartis4421 When was the last time Democrats ran Kentucky?

[@blastfurnacecoffeehouse1423]

This is what happens, when you run out of ther people's money. Lol Ask any steel worker, how secure your pension is. The only promise kept by our leaders are taxes.

[@petermohr5163]

I am a retired teamster, my pension plan is fully funded ! I have gotten my check every month for the past 9 years ! I have no doubt that I will receive it for the next 20 years. The problem in Kentucky is corruption ! and Mitch McConnell !

[@blastfurnacecoffeehouse1423]

@@petermohr5163 lol... Keep trusting You get a stipend. If the economy crashes your shit is not protected. If you took any form of stimulus money while not losing a dime of pension money, you're as much to blame as the politicians frivolously giving it away...

[@legalizerapingrussianbroad8299]

Russia is more poor than a third world developing country. Russia is a country which is on the verge of collapsing (AGAIN!) it is currently on it’s knees and begs the United States along with United Nations for food donation. It must be absolutely humiliating to go on television and literally have to BEG another rival country for food. Russia then hides this embarrassing fact from it’s own citizens by closely controlling the media, censoring the truth and spreading disinformation. Russia, just collapse already, let the US come level your barren wasteland and convert it to our garbage dump.

[@nikkiparis5399]

This is what happens when you rely on others to "take care" of your money and future for you. No one really wants to be responsible themselves. What is it they say about a fool and their money?

[@davesmith5656]

@@nikkiparis5399 ---- You wrote my thoughts. Responsibility is the key. It seems that relying on politicians to be responsible is foolish. One thing that continues to amaze me is how "people" can belly-ache about how bad things are here, how victimized they are, how helpless, how needy, how they don't have "opportunities", when they have no inkling of how good we have it - IF we can keep it, if we can keep the U.S. Constitution. I just watched a documentary about Lebanon and the huge warehouse explosion ("Sorry, the insurance doesn't cover it"). And another documentary about how well over 50% of condo buildings in Australia are structurally compromised. Some owners given 24 hours to evacuate.

[@vicwiseman6038]

Excellent documentary. I think people need to really think hard before they give other their money to invest. IF you don't understand it or it cannot be explained to you in plain simple terms, DON'T invest! Look for simple investment vehicles like index funds, property, gold, silver, and mutual funds. Always, always looks at the fees. If the fees are NOT clear (whole life insurance), DON'T invest! After you invest, look at your investment AT LEAST every quarter and make sure that you are okay with the level of risk and the potential return. Most importantly, control your spending and avoid debt with the exception of a mortgage. Mortgages should be fixed and you should always have a minimum of 6 months living expenses saved in case of emergency or the loss of income. Much of this is common sense but its much easier said than done.

[@HHHunters]

You mentioned fees in whole life insurance. What fees?

[@brucefredrickson9677]

upfront fees

[@vicwiseman6038]

@@HHHunters A large portion of whole life insurance premiums go to commissions to the salesperson that sold you the policy. Sales agents make insane commissions on whole life policies and these commissions are typically not disclosed. All you will see is your premium which is significantly higher. For the average Joe, whole life is a scam as you can get much higher returns elsewhere. It may make sense for a wealthier individual who can afford to pay the higher premiums and is looking to avoid taxes. I view whole life more as a wealth preservation tool than a good investment vehicle.

[@norbsj]

Moral of the story…don’t expect strangers to make you fortunes with your money…

[@milfordcivic6755]

Moral of the story: tax the rich and use it to fund everyone's government retirement plan instead of the wall st casino.

[@jasper-cg]

Moral fo the story: Take control of YOUR finances...DO NOT ACCEPT low paying jobs in PROMISE of something in future.....

[@BennieTarrMusic]

@@jasper-cg Never trust an American promise. They never keep their word.

[@bmw803]

@@milfordcivic6755 And when the rich packs his money and moves it to the Cayman Islands then who do you tax? High taxes is an incentive to be unproductive and lazy. Never works

[@jeremynash87]

@@milfordcivic6755 Great idea! However, as a rich person myself, I dont like it when you take my money. So, I'm gonna move. See ya!

[@nickhancock4337]

This is what happens when you just believe what government and media tell you without raising questions or proof. Sounds a bit familiar in lots of subjects these days.

[@AllTheArtsy]

This is what happens when you vote Republicans. Americans, over and over, vote against their own interests.

[@nickhancock4337]

@@AllTheArtsy Republicans Democrats? Black white? Up down? Left right? Why tie yourself down to these things? Love, loyalty, honesty and integrity. We need to be looking at different types of people to run this country. We need to find them outside of the establishment of big money, corporations, big tech and media. Don't you see that forces are polarizing a once solid nation?

[@garrusch7063]

I went into teaching because of the salary. We make a lot of money. Try and look up your districts' teacher's salaries. Here in Ohio, in an inner city district after 13 years and a master's degree we make close to $90,000/year plus the best health insurance. The suburbs are probably way over $100,000.

[@KB-Unc]

Just fact checked that....That is false according to Cleveland teaching salary schedule after 13 yrs

[@KB-Unc]

Cleveland city schools says other wise

[@garrusch7063]

@@KB-Unc Hello JL I just asked a teacher in Cleveland what a 15 year veteran makes with a Master's degree. $85,000-$87,000/year. Don't rely on data from school districts because they LIE about everything to the Public.

[@KB-Unc]

@@garrusch7063 um I'm a teacher, I have taught in 6 different districts over 15 years and I have a masters. What u see on the website has been what they paid 100% every time not including any bonuses for high need areas. Now if you add in any stipends teachers get for doing other things like coaching l, sponsors, etc then it's more but we are talking base salary. I have never seen a lie on a district website. I am the source. My wife, myself, and my mother in have 55 combined years teaching experience.

[@garrusch7063]

@@KB-Unc I appreciate your insight on this topic JL. A suburban school district south of cleveland pays a teacher I know with 25 years and masters $94,000, and they don't have to pay into their state teachers retirement fund - the district does that. What I see on most websites is AVERAGE teacher wages, which includes teacher aides, in order to hide the true salalry of most of the teachers. Enjoy your summer off and my respects/regards to you, your wife, and mother for the being teachers. After 12 years, I decided to pursue another career.

[@billgoldenmusic]

I talked to one of my older colleagues who is way past retirement eligibility. He also has a pension from the NAVY, as well as state pension. I asked him if he ever thought about retirement, his response was "all my friends that retired are dead". 😂. Mad respect for that dude