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The Retirement Gamble (full documentary) | FRONTLINE

  • Жарияланды 2021 ж. 20 Қыр.

Пікірлер • 10 434

  • Dawson Danny
    Dawson Danny Күн бұрын +505

    The average person has never been so poor. Millions of families are struggling financially as living expenses hit the highest levels in more than four decades. Over 60% of our country lives paycheck to paycheck and about 40% earns poverty wages. Even after working all their lives, more than a quarter of older people have no savings and many believe they will never be able to retire in dignity, while around 55% of elderly people try to survive on an income of less than € 25,000 a year. My primary concern is how to grow my reserve of € 300k which has been sitting duck since forever with zero to no gains.

    • Romney Hugo
      Romney Hugo Күн бұрын +2

      Definitely gonna check her out. I live in Switzerland. Any idea if it's still okay to reach out

    • Ranny Orton
      Ranny Orton Күн бұрын +4

      I happen to know 'Deborah Sue Bohn . She has been my fin coach since 2018, no major losses has been recorded. Totally recommend her too.

    • Romney Hugo
      Romney Hugo Күн бұрын +1

      Hi- Mate, please how can i reach this FA of yours?

    • Ranny Orton
      Ranny Orton Күн бұрын +2

      It is very possible for you to achieve your financial dreams but it is also not unusual for you to lose money in the short term. Inve stment values go up and down, rather than run away if your investment value drops, investment takes patience. Also, you are most likely to succeed if you seek the services of an investment advisor. It will help you build a better diversified portfoli

    • Romney Hugo
      Romney Hugo Күн бұрын +2

      It's scary how true this message is. What steps can we take to generate more income during quantitative tightening? Also, on the contrary, how can we profit in times of quantitative easing? Where should we put our inves-tment money now to better prepare for the future and a liquidity crisis?

  • Susan Nico
    Susan Nico 2 күн бұрын +548

    Thanks for this amazing information !! If you don't find a means of multiplying money, you will wake up one day to realise that the money you thought you had, has finished. Investment is key, I pray that anyone who reads this will be successful in life

    • Yassine Khaoua
      Yassine Khaoua 2 күн бұрын

      *ROCHELLE DUNGCA-SCHREIBER* is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.

    • Susan Nico
      Susan Nico 2 күн бұрын

      *ROCHELLE DUNGCA-SCHREIBER* is my portfolio-coach, I found her on Bloomberg where she was featured, I looked up her name on the internet. Fortunately I came across her site and reached out to her, you can verify her yourself.

    • Laila Alfaddil
      Laila Alfaddil 2 күн бұрын

      It took me 3 years to stop trying to predict what's about to happen in the market based on charts studying because you never know. Please, i need the help of your Investment advisor.

    • Fred Williams
      Fred Williams 2 күн бұрын

      Very true, I started investing before the pandemic and that same year I pulled a profit of about $750k with no prior investing experience, basically all I was doing was seeking guidance from *ROCHELLE DUNGCA-SCHREIBER* who's a guru in the game, you can be passively involved with the aid of a professional.

    • Yassine Khaoua
      Yassine Khaoua 2 күн бұрын

      Exactly and many of us don't know where to invest our money so we invest it on wrong places and to the wrong people

  • Exxon Mobil Company
    Exxon Mobil Company 5 күн бұрын +885

    I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways

    • cheryl campbell
      cheryl campbell Күн бұрын

      Schwab says wait six months..March 30th 2023

    • Isaiah Ayers
      Isaiah Ayers Күн бұрын

      ​@Marcel Robert what kinda fake comment is this? Nice try.

    • Isaiah Ayers
      Isaiah Ayers Күн бұрын

      ​@James Vigor fake

    • Isaiah Ayers
      Isaiah Ayers Күн бұрын

      ​@Mark George this is some super unnatural language that either seems like a bot or a sales pitch.

    • Rober Toe
      Rober Toe 3 күн бұрын +2

      Strongly recommend renting for a year in the area you are considering moving to. It'll help you identify specific area you are interested in as well as a sense of the real estate market.

  • Marl017 6
    Marl017 6 Ай бұрын +79

    Thank you Jack Bogle, for blessing us with your humanity. He has done more for the average investor than anyone in history. Rest in Peace.

    • bill frete
      bill frete 15 күн бұрын +5


    • vorname nachname
      vorname nachname 17 күн бұрын

      Didn't know he passed away. He looked so vital and perceptive in this video.

    • Low Tier Tactical
      Low Tier Tactical 21 күн бұрын +2

      I didn’t understand investing But if I could go back. He’s a guy I’d love to buy a steak 🥩 dinner for and listen to his wisdom.

  • locomofo
    locomofo 28 күн бұрын +35

    The bankers / investors interviewed exhibited a lot of nervous laughter as they stumbled to answer the questions and that says it all. I’m moving all of my 401k into Index Funds on Monday. Thank you Frontline. 🙏

    • sarge
      sarge 22 күн бұрын +2

      Especially Ms. Marcks!

  • Glen McBride
    Glen McBride Ай бұрын +45

    I hope this might help somebody. I'm retired now but I was thrown out at 47 and had to start all over. After 8 months I finally got the job I wanted. It was a low-level unpopular job most people did not want with the Federal Government. It was so low down a lot of people laughed at me. My wife of 30 years (who always thought I would be a High Roller left with another guy). I just kept working. I had the chance to go to various govt. schools and move up a little. The job was steady. I never was fired. I invested through the govt program they put in 5%. I finally got where I could put in 10% too. At 68 I retired and put all the money in annuities that increase due to inflation. Get rid of your pride. I bought a 2017 Toyota Corolla for $13,000 from Hertz. I don't eat out at fancy restaurants. BK sometimes. I buy most of my clothes from VV a used clothing outlet that gives me 40% off on Tuesdays. I live within my means and have no debt! You can do this, but most will not!

  • Darnell Capriccioso
    Darnell Capriccioso Ай бұрын +2952

    Just what I needed to watch, My wife and I are directors of our farm business and own property, plus small pensions. I am nearly 55, my wife is 52. We have started to save to retire from the farm, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably, let’s say $1M.

    • J
      J 6 күн бұрын

      @Shep Dog How about stop promoting scams.

    • Shep Dog
      Shep Dog Ай бұрын

      What Index Funds are we liking here?

    • C Rutherford
      C Rutherford Ай бұрын +1

      I am living on rental income right now after being laid off my main job and I can tell you it is not passive income, lol.
      Renters can be very unpredictable... they come and go, don't pay rent, damage and trash property and a lot of drama. There is also upkeep and maintenance work, and much cleaning and rehab labor in between tenants. And that's when the government doesn't order you to house people for free with so-called 'Moratoriums' trying to knock out all the little rentals, like they did during the Pandemic. Its OK as an option but I would set up your retirement so you can survive without it.

    • hallowedbethy name
      hallowedbethy name Ай бұрын +1

      @Tatiana Starcic is Melissa Scott Glazner a fiduciary? how are fees determined? are you giving this recommendation for my best interest? TY.

  • Bobby mainz
    Bobby mainz 15 күн бұрын +779

    Honestly, I'm unsure if investing is a wise move right now. Take note of how frequently things fail. As I still have some time before I retire, I'm still looking for a better strategy to invest my money despite reading charts and predictions from well-known investors from the past and present. In order to generate passive income, I want to build a solid and reliable portfolio.

    • Dino Nuggie Monster
      Dino Nuggie Monster 5 күн бұрын

      if you stop breathing you can cut costs by 90%

    • Zahair O'Brian
      Zahair O'Brian  15 күн бұрын +3

      @Joseph Gill Although this is impressive, my portfolio is in such horrible shape that I definitely need their aid. Tell me how I can get in touch with her, please.

    • Joseph Gill
      Joseph Gill 15 күн бұрын +2

      The issue is this! Individuals with little to no experience in the stock market commonly try to buy on their own. Prior to acting appropriately and getting in touch with financial advisor INGRID CECILIA RAAD in the US, I had the notion, but things have changed since then. I began seeing incredible returns on my investment.

    • kim young
      kim young 15 күн бұрын +2

      The outstanding catch-up measures currently in place are unquestionably due to the Fed, as they were first too sluggish to contain inflation. The epidemic, supply-chain concerns, and the situation in Ukraine are all factors in the looming perfect storm of inflation. Not to mention the sharp increase in housing expenses, another factor that makes it challenging for the Fed to control inflation. To sum up, if you have the cash, get rid of it right away to benefit from the high savings rate.

  • andrewpm2
    andrewpm2 2 ай бұрын +42

    I always knew index funds were the way to go but for some stupid reason I look at past performance and completely ignore admin/exp fees. The example of how much 2% eats away is eye-opening. Thank you for this very informative and important segment.

    • Davis Holman
      Davis Holman 13 күн бұрын

      Yes - even the popular funds are gouging your retirement at a shocking amount - don’t be fooled.

  •  Benoit Massicotte
    Benoit Massicotte 25 күн бұрын +3143

    One thought is to buy the dip and then wait to break even, another thought is: Will buying low during a recession work if I'm retiring in the next 3years, I'm no way near prepared for retirement and I just need strategies to scale up to atleast 2million by the time I'm set to retire

    • GamerGuy51
      GamerGuy51 16 күн бұрын

      DCA into the market. The safest bet is Vanguard Index Funds

    • Blockchain Breakdown
      Blockchain Breakdown 24 күн бұрын

      Your best thing to do NOW all the way through and PAST the next bull market...wait for the next massive crash while you sit in cash...then deploy all that cash savings into strategies gone over by and approved by a certified financial advisor.

    • wirehairs
      wirehairs 24 күн бұрын +1

      Time in the market is a better strategy than timing the market. When you are proposing is contrary to what was discussed in this video. Just buy a Vanguard S&P Index fund and hold it for the long term.

    •  Herman Ramos
      Herman Ramos 25 күн бұрын +1

      @Kenan Porubsky She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

    • Kenan Porubsky
      Kenan Porubsky 25 күн бұрын +1

      @ Herman Ramos My advisor is ‘’Christine Jane Mclean’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

  • Javier Sosa
    Javier Sosa 2 ай бұрын +29

    RIP Jack Bogel. Mr. Bogel's brilliant insights hugely contributed to this broadcast's creditability. Excellent presentation, Frontline. Your layout of the retirement crisis, which still exists today, was exemplary!

  • Harry Jack
    Harry Jack Ай бұрын +18

    Amazing video and thank you for breaking it down!! Despite the economic downturn, I'm so happy have been earning $ 60,000 returns from my $7,000 investment every 10days..

    • Ana Rose
      Ana Rose Ай бұрын

      Good woman ❤️

    • Bruce Francis
      Bruce Francis Ай бұрын

      Wonderful! It's great to see others who also benefits from the service of Mrs Jessica Madilyn McMain, I'm currently on my 6th trade with her and it has been a nice experience.

    • Sky W
      Sky W Ай бұрын

      This is the kind of information that We don't get from most KZcliprs will get in Touch with her right now.

    • Lillie Kody
      Lillie Kody Ай бұрын

      Good to see how you guys came up here to show keen appreciation to Mrs Jessica Madilyn McMain.. This was exactly how I got recommendation about Mrs Jessica., At first I was a bit skeptical but eventually I gave her A trail with my little investment I got huge profit

    • Greg Wilson
      Greg Wilson Ай бұрын

      @April Dawn sen'd her a message 👆

  • Sakino Yoshinori
    Sakino Yoshinori 21 күн бұрын +30

    When it comes to the world of investing, most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance.

    • Aero Blivion
      Aero Blivion 16 сағат бұрын

      Omg look at all these bots.

    • Joy Pagaspas
      Joy Pagaspas 19 күн бұрын

      Choosing to invest in Btcoin is the best decision anyone can make with the right approach. it works.

    • Rolf Holmlund
      Rolf Holmlund 19 күн бұрын

      Working under her management setup has elevated my trading status to a pro level in less than a month.

    • Stephan Schwartzmann
      Stephan Schwartzmann 19 күн бұрын

      This is her IG handle 👆 above

  • Just Montina
    Just Montina 11 күн бұрын +3

    This documentary was eye-opening and the reporting was exemplary. Thank you so much for asking the tough questions and making us all think about fund managers, index funds and investing.

  • Stevens Middlemass
    Stevens Middlemass 4 күн бұрын +1513

    I recently inherited almost $500k. I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job or should force early retirement. All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.

    • Christopher Thelen
      Christopher Thelen 2 күн бұрын

      An income annuity will eliminate longevity risk beause they are designed to provide lifetime income, along with social security and/or pension income. They can also eliminate market risk because of the gaurantees offered by the company issuing the contract. The investment risk is on them not you.

    • Tricord
      Tricord 4 күн бұрын

      @Bobby Blue 🤣😂😅

    • Nick
      Nick  4 күн бұрын

      @Bobby Blue Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

    • Bobby Blue
      Bobby Blue 4 күн бұрын +5

      Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "STACIE KRISTAL WEBER" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

    • Nick
      Nick  4 күн бұрын +1

      @Bobby Blue A million dollars in profit is a fantastic achievement; how can I contact this advisør of yours?

  • StayWoke
    StayWoke Ай бұрын +21

    I’m fortunate enough to have guidance from my father and mentors. I was able to live cheap and put away about 25% of my income every year after college when I got my first serious job. My goal is to retire by age 50. I’m halfway there and my best advice is to never buy a new vehicle, get something reliable but cheap that you can buy cash or pay off quickly. Don’t eat out more than 2 or 3 times a week. Lastly, don’t give into temptations of getting the latest and greatest clothes and toys as they will be old and worthless in a short period of time.

    • StayWoke
      StayWoke Ай бұрын +7

      Also, do not take on massive student loans or any unless they are STEM related. Some of the wealthiest people I know are small businesses owners with no formal education.

  • domer1950
    domer1950 9 ай бұрын +23

    I worked as a driver until my vision began to fail at age 68. My retirement plan is my house, which I paid for by renting the extra rooms, plus a very small pension. I feel sorry for some of these people because they have been ripped off by unscrupulous con men, but others seem to feel entitled to a style of living which is an impossible dream for 75% of humanity. I know that I am very fortunate to be fed, clothed, and sheltered. The USA is a bloated monster of privilege in a world full of starvation and hardship. Stop whining about getting a lousy rate of return on the money you had left over after the all bills were paid.

    • Alex Souvall
      Alex Souvall Күн бұрын

      Love the lady typing on a 2,000 dollar apple laptop complaining about not having enough saved for retirement.... Lol.

    • Question Everything
      Question Everything 2 ай бұрын

      Well said

    • Rod Leithner
      Rod Leithner 7 ай бұрын


  • ella jones
    ella jones 7 ай бұрын +8

    Sad. Back in the 60s through the 80s, my dad didn't make more than $25K annually with no health or pension benefits (mom was a stay-at-home mom) , yet he paid off a house, bought cars with cash, helped raise and educate 3 kids (we all graduated from college), travelled, and retired at 62 living comfortable on SS and over $500K + in savings and investments. I'm 63, single, make over $75K, live below my means, no debt (including house and car), and have saved over $1.5M in retirement savings yet I'm still concerned about retirement. How times have changed.

  • Sihle
    Sihle  Жыл бұрын +800

    This journalist is brave to put up his own retirement story for all of us to see. Great documentary, albeit a sobering one

    • Kelly name
      Kelly name 21 күн бұрын

      @William Wittrock Those financial crooks day will come.

    • Frank Fitzgerald
      Frank Fitzgerald  Жыл бұрын

      @Howard I think he said it is *his* company.

    • William Wittrock
      William Wittrock  Жыл бұрын

      @Gdobie1 West he did create evil,the devil!

    • William Wittrock
      William Wittrock  Жыл бұрын

      @Jesus is LORD he may be lord but he’s not gonna interfere with every financial crook!

  • Ann Throckmorton
    Ann Throckmorton 8 ай бұрын +30

    I retired from a Government job a decade ago. I live very frugally. I just did the math and see that I have received so far roughly $344K with my pension and SS (which is lessened due to the WEP), including my medical benefits.
    I've completed a Chapter 13 Bankruptcy, and dare not move from my home of 35 years due to my low fixed-rate mortgage payment. The average rents in my area are about 75-80% of my monthly pension.
    I knew I would never be able to save what I would need for retirement, which is why I went with the path I did.
    But I had no idea that retirement would be this financially challenging, or that I would ever need anywhere near this much just to exist at a base level.
    I add my warning to the message presented in this program. Please, plan ahead for this time in your life.

    • matt75hooper
      matt75hooper Ай бұрын +1

      You Govt Hacks retire too young. That's the real issue.

    • Paper Tiger
      Paper Tiger Ай бұрын +1

      Does not add up...something is very wrong here. you live in a house for 35 years and its not paid off and you had to declare bakruptcy?? My first guess would be that never in your life have you ever bothered to sit down and do a budget. YOU NEED TO KNOW WHERE EVERY PENNY GOES! Becoming a master of your money is the singlemost important thing you can do! You have a choice to either master your money or have it master you! Its impossible to become wealthy if you are spending more than you make.

    • DB Edwards
      DB Edwards 6 ай бұрын +5

      Planning is no guarantee for success in the retirement arena.

  • sting aling
    sting aling 7 ай бұрын +30

    Jack Bogel is a legend. He has probably done more for savers than anyone else on the planet. RIP

  • bills1995vette
    bills1995vette 5 ай бұрын +6

    I started saving young in the Navy. I sent my first check away to a mutual fund and my father said “son, you sure you want to do that”.
    Through greed and thinking I know everything made allot of mistakes trading stocks, it’s a tough way to learn, but have done pretty good.
    My last mistake was holding allot of oil stocks then the oil collapse happened but, as of 2022, they came roaring back and I’m currently diversifying out as they hit new highs.

    • no name
      no name 3 ай бұрын

      Sector trading is risky. Just do SP500

  • Samantha B
    Samantha B 7 ай бұрын +22

    When I was a senior in college a part time professor who owned and ran a small engineering firm spent a 2 hour lecture talking about the importance of contributing to your retirement account ASAP even if it's just to meet the maximum match from your employer. This was completely unrelated to the class but he said he was amazed at the young people coming into his company who had no idea. Because of him I started with a 10% contribution when I got my first job out of school. Since I wasn't used to seeing that money I didn't budget around it. As I made more money I got to the point where I maxed out my yearly contribution. While I'm still thankful to him for that lecture, I wish he would have also talked about the importance of building credit and investing in index funds. It took me a little longer to figure those things out.

    • Matt W
      Matt W 2 ай бұрын +2

      Welcome to life

  • Raymond Caylor
    Raymond Caylor 2 ай бұрын +4

    When I don't understand something like a 401K I read about it. I asked family and friends about it. I will even pay a CPA to explain it to me. Maybe that's why I retired at 49 and am 72 now with 3 times more money in my retirement accounts. Now my problem is meeting the required minimum distributions without penalties while occurring the smallest tax liability possible. No matter your age, income, or savings always have a plan. Always have a budget. Always. I've been a HUD Home Retention volunteer counselor since 2011 and it's almost always the exact same problem. People spend more than they make. It's often a simple fix with sacrifices but sometimes there is no possible way to save their home from foreclosure or voluntary surrender but the key is to leave with a workable plan for affordable housing.

  • LurkerChild
    LurkerChild  Жыл бұрын +768

    One of the more shameful things over the past 10 years is that Jack Bogle was never presented with a Presidential Medal of Freedom. His "Costs Matter" hypothesis and his company Vanguard have saved investors so much money over the years.

    • GAO23
      GAO23 Ай бұрын

      @The Mountain Wanderer nah, it will rocket to the moon

    • Myrah J
      Myrah J  Жыл бұрын +1

      @The Real Deal Except he died at 89 in 2019, so there's no appointed position but a beloved man nonetheless 😉

    • H Charvat
      H Charvat  Жыл бұрын

      "Divorce and the crash of 2008...."
      Yep. Retirement lol

    • Veritas
      Veritas  Жыл бұрын


  • JDP
    JDP 9 ай бұрын +45

    I retired five years ago and my worst fears regarding inflation have become a reality. I regret not seeing this documentary sooner but I can't beat myself up over it. I'll do the best I can moving forward.

    • unknown driver
      unknown driver 3 ай бұрын +1

      I know you can

    • JDP
      JDP 3 ай бұрын +4

      @whoiskevinjones Yessir I agree.

  • Kaizen917
    Kaizen917 3 ай бұрын +4

    Interesting perspective on the topic given how the US workers had to deal with this from a bit earlier. With equivalent types of funds coming up in my native Bulgaria over the last 10-15 years, I feel that people are getting ripped off in a similar way with fees and are also not yet acknowledging it. Its kinda crazy for instance that when a friend of mine showed me her paperwork on her pension fund that a lot of other people hold, all the documents kept similar layout to what Im used to seeing from Vanguard (but written in Bulgarian of course). With a bit more digging, they actually were Vanguard funds, 1 on 1, except for the circa 8-10 times the % fee compared to what I could see advertised with Vanguard UK, where I hold my SIPP (I think thats the equivalent to IRA account in the US). Its hard to ascertain but my assumption is that the Bulgarian fund management firm pockets the difference and not that Vanguard is being price discriminatory but Im not sure.

  • Lisa Scott
    Lisa Scott 6 ай бұрын +33

    My mother died a year after she retired. She worked until 70. What a life. Work hard then die.

    • s z
      s z 3 ай бұрын +1

      That is poor peoples retirement plan

  • Carl Mazziotti
    Carl Mazziotti 8 ай бұрын +37

    I had a Morgan Stanley account for about 8 years. I was paying 1.5% and my manager was a set it and forget it type of guy. I found that I was calling him frequently asking to purchase some of the big tech names that he had been discouraging me from owning. I finally fired him in 2019 after about $50k in fees. I have managed my retirement myself since and quadrupled his results with zero fees to-boot! It's stressful but necessary once you start looking at what's at stake. So far I've probably shaved 10 years off of my retirement eliminating that joker! Educate yourself in that boring topic that can change your lives!

    • yourportlandlifestyle
      yourportlandlifestyle 15 күн бұрын +2

      I fired my "advisor" too. Glad I did and glad you are sharing about your experience

    • Paper Tiger
      Paper Tiger Ай бұрын +2

      Its simply amazing that people allow vampires into their retirement accounts. Given the vast amount of data now available at your fingertips, there simply is no excuse for this.

  • David Wasilewski
    David Wasilewski 4 ай бұрын +7

    My golden rule is that I don’t invest in things I don’t fully understand. Anything you don’t understand can lead to you being ripped off. Another rule is to avoid involving other people in your money. They are (understandably) only in it to skim off what they can. For this reason I’ve been investing in property and letting it out for a long time. Works for me. And, even better, when I die I can pass the property on to my family instead of the pension dying with me.

  • Nancy Smith
    Nancy Smith  Жыл бұрын +57

    I watched this about 7 years ago when I was in my 30's and didn't have any retirement funds in my name. I started and now I've got over 100k. It was aggressive though and I changed careers. Became a nurse and worked lots of overtime etc.

    • Jeezy J
      Jeezy J 7 ай бұрын +2

      @Steffen Steffen that is why you will never be rich

    • Steffen Steffen
      Steffen Steffen 8 ай бұрын +1

      Just wait till it goes to zero. POOF gone. If you cant hold it in your hand, YOU DON'T OWN IT

    • Japan Tarzan
      Japan Tarzan  Жыл бұрын +7


  • Wyane Cliff
    Wyane Cliff Ай бұрын +125

    🌹I’m 48 years old living in Las Vegas I’m hoping to retire at 55 if things keep going well for me. Bought my first house last month and I can’t be more proud that I’m now. I’m glad i made a great decision about my finances that change me forever

    • Brother Carlton
      Brother Carlton Ай бұрын

      You will eventually own little to nothing and be happy according to Klaus Schwab.

    • Jamal Young
      Jamal Young Ай бұрын +2

      That's great man- Congratulations!!! I'm almost 55 living in the Pacific NW. I own three houses. One is my primary residence and the other two are rentals that are run by a property manager. The first rental is paid off (great feeling!) and the second will be paid off in about 5 years. I have a 401K that I contribute to, but only up to the 6% my employer matches. I also have an individual brokerage account used to invest in stocks and dividend paying Index Funds. On track to retire at age 60.

    • Mac Clark
      Mac Clark Ай бұрын

      If you just bought a home sell it fast. Because no one in recent years who purchased homes. Will remain in them when they become 50% of their value at Purchase.

  • Judi Trotter
    Judi Trotter 9 ай бұрын +4

    Watching this and hearing this makes me so very grateful for the discipline my husband Tom taught me and the the structure he gave me. Thank you so much OMG!!!!

  • Ravanne
    Ravanne 2 ай бұрын +1

    I work at a hospital where for many years, I was part of a pension plan. That was a huge relief for me, as I didn't have to worry about my retirement. Two years ago, the pension was frozen (so any funds that I built over my career) won't grow anymore and we're no in an investment fund (the non-profit version of a 401K). While my employer is giving extra money as I'm within 15 years of retirement, I still have to invest a decent chunk of my own weekly pay and hope that when I retire, the market is good and I'll come out ahead. Still, I recognize that I'll be working a lot later in life than planned and the odds are that I'll be working at least part time until I no longer physically can. It's very depressing to contemplate.

    • Question Everything
      Question Everything 2 ай бұрын

      What's so depressing. Just keep putting money in and adjust your lifestyle. Be glad you di have a retirement program.

  • Call Me Loyal
    Call Me Loyal 8 ай бұрын +36

    OMG this was very informative and mind blowing 🤯 I recently questioned my retirement provider why my Kiwisaver retirement savings have remained the same amount for the last year and the answer I got was very vague 🙈 thank you so much for this documentary it is really helpful even for us that live outside the US 🙏

      OxDEADBEEF 7 ай бұрын

      I think it is because you buy “shares” and if the share price goes down, you lose value. But when the shares go up, you should make it all back and more. But nobody knows when shares will go up or down.

  • Amelia Arthur
    Amelia Arthur 7 ай бұрын +109

    Just imagine retiring as a registered nurse, using all your income/salary to pay rent and tax without any good investment or means of extra cash, tending to leave your profession/job that has been part of you for many years with no good funds. How will you cope?

    • Question Everything
      Question Everything 2 ай бұрын


    • Ralph Alf
      Ralph Alf 3 ай бұрын

      Imagine never saving or planning for the future and thinking someone else should do it for you just because you exist. Narcissism abounds.

    • Aditi Vihaan
      Aditi Vihaan 7 ай бұрын

      When I saw testimonies all over the place I thought it was all made up stories till I saw my next door neighbor sharing her testimony I was convinced and said let me try her out. I don't regret the move I made because I invested my money with the right person.

  • WD
    WD  Жыл бұрын +17

    I especially feel bad for those who invested most all of their investment/retirement funds in their company stock and then lost it all after their companies went out of business (or downsized significantly) after a market crash. I know someone who that happened to. It's easy in hindsight to say "they shouldn't have done that", and that "they should have diversified their investments", and "that they should of had emergency funds", etc. But back then (pre 1999), I recall it was a considered a good thing, and highly encouraged to invest a lot into your own company's stock. And also it didn't seem to matter what you invested in, because every equity investment seemed to perform great - and many got greedy. I hope we have learned from this, because it might happen again.

    • RKar2000
      RKar2000 8 ай бұрын

      LUCENT Technologies. Ouch.

    • Tony Moretti
      Tony Moretti 9 ай бұрын

      Enron whoa boy

  • David E Guerra
    David E Guerra 9 ай бұрын +522

    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 370k from the S&P and invested with a full service broker.. Until about 3years ago we were 100% in the s&p after over 30 years. I’m retiring at the end of the month at 59, while my wife will retire next year at 54. We currently have 5.7 million in out tex deferred savings.

    • J
      J 6 күн бұрын

      @Rick If you held through 2001, 2008, etc you’d still be up multiples in terms of ROI. Only idiots who folded and sold at a loss in 2008 are still salty till this day. Heck, even people who started investing in markets around 2018-2019 are still up right now.

    • Kelly name
      Kelly name 21 күн бұрын

      @Sonny Samra Never saw a WhatsApp # or an investors name either. Did you? I know the scammers are all over YT.

    • Rick
      Rick Ай бұрын

      So you escaped all the market crashes? 🤔 This is hard to believe.

    • Pressed Rat and Warthog
      Pressed Rat and Warthog 4 ай бұрын +3

      DO NOT USE EDWARD JONES. Their fees and stock churning will kill you. Buy and hold the S&P in a discount broker like Vanguard and you will come out far ahead of Edward Jones.

  • G M
    G M 9 ай бұрын +12

    Proper investigative journalism.Thank you 🙏
    Just recently I looked up my into me pension and lot of things just didn't add up,this explains it all.Power is knowledge 👍

  • The Cuss
    The Cuss 3 ай бұрын +3

    I worked at a US based manufacturing company in R&D lab for 4 decades. I started right after college for $4 an hour, worked my way up. We had pension plan and 401k, and I also bought savings bonds pre-tax for my future kids' college. Both my kids got some college scholarships and also went to state universities, so I didn't even use up all that. So now retired, live well off my pensions (cashed in and set up in a trust for the family) and social security. We've also always bought used vehicles, and with my skills at fixing/maintaining both vehicles and household stuff, has saved a ton. Understand that my kids have real jobs, but they get no pensions.

    • walter Davies
      walter Davies 3 ай бұрын +2

      pension? what that?
      unheard of today

  • Yvette C
    Yvette C 9 ай бұрын +4

    This is a INCREDIBLE piece. I have shared it with coworkers and friends.

  • Mark Hayden
    Mark Hayden 2 ай бұрын +1

    Twenty three years I started a career in the mutual fund industry in Milwaukee. Many of my classmates in their personal accounts invested in high risk and high potential reward investments. My classmates thought I was dumb to just "settle" for the market return by investing in index funds. In fact the firm only offered one index fund (S&P 500 with a high ER of 0.4%). I saw the value in index funds at that time because of the expensive, luxurious campus of my former employer. I knew the campus was paid for with expense ratios (ER) of the mutual funds that ranged from about 0.75% to 1.5%. Today, I am some what surprise by the growth of index products over the past few decades. Investing in index products can be both frustrating and boring at times. Frugality along with dollar cost averaging into index products has produced wealth that I never would of dreamed of as a child. Jack Bogle did not become a billionaire; but rather, he helped hundreds of thousands become millionaires.

  • Pancho Villa
    Pancho Villa  Жыл бұрын +546

    Documentaries like this are what make Frontline special.

    • Joao Miguel
      Joao Miguel  Жыл бұрын

      @FARBOLUOS Denmark, France, Sweden, Germany, Norway, Holland, Belgium, Austria, etc

    • Joao Miguel
      Joao Miguel  Жыл бұрын +1

      My Personality Is On A Border Exactly I like how he mentions examples as Cuba and Venezuela but "forgets" to mention Denmark, France, Sweden, Germany, Norway, Holland, Belgium, Austria, to name just a few. Some things in life are just not meant to be made for greedy business and retirement plans are on of them.

    • Magooo
      Magooo  Жыл бұрын

      Specially stinky...on our dollars

  • N R
    N R 4 ай бұрын +6

    I worked at a grocery store where you have to work 10 years in order to lock in your retirement. I had made it nine and a half years the store went out of business. At Harris Teeter where I retired from they had a pension plan which they did away with in 2005. I started working for them in 2006.

  • Dr Rami
    Dr Rami 8 ай бұрын +715

    I wasn't finanncial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investng in the fiinancial market is a grand choice I made. Great video! Thanks for sharing!

    • SAGE
      SAGE 4 ай бұрын

      If you don't mind me asking. What do you do for passive income?

    • JerSeattle 07
      JerSeattle 07 5 ай бұрын

      Most are not drs and are working poor

    • Carl Mazziotti
      Carl Mazziotti 8 ай бұрын

      @Ната huge losses? I'm only down $250k YTD! Still I'm buying every dip as I love buying sales!

    • Ната
      Ната 8 ай бұрын +7

      This is the same person talking to themselves and trying to promote some scammer "pro investor"
      I see them a lot in comments, always the same scenario, promoting different scmbags. Always all comments are posted within mins of each other and it's always 4-5 names. Don't fall for this BS.
      Investing is a gamble, always. Be very careful if you decide to go that path and be ready for huge losses, it happens to the best as well.

    • Joseph Schwarzkopf
      Joseph Schwarzkopf 8 ай бұрын

      Better sell 'em quick

  • Nane Aluli
    Nane Aluli 5 ай бұрын +1

    This is an informative and valuable video to watch at least a couple of times. I think the KEY takeaway is BE INFORMED! It is crucial in this day and age to educate one's self about the money they have invested in any asset whether its stocks and bond, real estate or base ball cards. The more knowledge we have the better decisions we will make. I also strongly agree with the age old saying of the real path to wealth is STAY OUT OF DEBT AND LIVE BELOW YOUR INCOME....FOREVER.

  • Jay Lev
    Jay Lev 9 ай бұрын +2

    this documentary is great! none of this is new being in the finance industry but its great to open folks eyes to the reality of the investment markets.

  • Oh Well
    Oh Well 7 ай бұрын +34

    I just want to take a moment to thank Frontline. I watched the original broadcast in 2013. I was living in poverty at the time. Fast forward 7 years to 2020 and I finally had money, for the first time in my life. I opened an IRA and maxed it out for 2019, then a few months later for 2020. And again for 2021 and 2022. I haven't accrued much interest yet, but I know I'm in a better place financially than I would have been in had not seen this broadcast. Thank you.

    • Nina J.
      Nina J. 4 ай бұрын +2

      @Ez-G You're only allowed to invest a certain amount each year so he's putting in the max amount each year. Now if you have a business, a solo 401K or a Sep IRA allows you to contribute alot more than individuals can contribute to an IRA. This country loves business owners but I would research that to figure out which works best for you.

    • Ez-G
      Ez-G 5 ай бұрын

      What does it mean to max it out?

  • K. Rich
    K. Rich  Жыл бұрын +22

    I had/have an old fashion pension and it's great, it's solid and funded. Started when I was super young and I'm still 20-25 years from retirement. I plan on getting 3-4 checks by the time I retire. I learned alot from talking to the older folks at my old job and they broke it down to me and showed me their retirement accounts. I was flabbergasted. I don't plan to work after 55 and I'm 35 now. I think I'll be fine and comfortable. No kids, good decisions, don't live beyond my means and live a simple life. I'm on track to make more in retirement than in my working life thanks to working govt jobs with great retirement plans and matching

    • SierraM363
      SierraM363 2 ай бұрын

      Yea. No kids is the key to a good retirement. LOL.

  • David Sensing
    David Sensing 7 ай бұрын +73

    People tend to focus on retirement account balances when thinking about retirement. Just as important is planning to be debt free by retirement. If you can have your home paid off before you retire, most people can live a comfortable lifestyle with moderate retirement savings. A paid off house, no matter the fair market value, is HUGE because you don't have to pay monthly for a place to live...just the upkeep. Also, people might need to downsize their house at retirement. The house they needed to raise a family might not be needed when the kids are all out.

    • David Sensing
      David Sensing 21 күн бұрын

      @Kelly name when you rent, you pay tax and HOA fees…just to the landlord. Those fees are in the rent.

    • Kelly name
      Kelly name 21 күн бұрын +1

      A paid off house is great in retirement but it's wayyyy more than just upkeep. What about those pesky property tax's and any HOA fees many of us pay. My Property Tax's this next year will be over 10K for a moderate medium house and the Associations fees can go sky high... forever. When I retire Im selling this place and moving out of this country. That is the only way I will survive plus the US is spiraling downward, out of control for sure.

    • David Sensing
      David Sensing Ай бұрын

      @Boughatii Lovren yes but you are paying those expenses if you rent and then some. Directly…no. But you know the landlord has those factored into the rent amount they charge.

    • Boughatii Lovren
      Boughatii Lovren Ай бұрын

      Maintenance cost, land tax not that straight forward

    • mmitbitw
      mmitbitw Ай бұрын

      I can retire as soon as I pay my home off😅

  • Daniel Khadivi
    Daniel Khadivi 7 ай бұрын +4

    Brilliant coverage. Even though I knew all this, it is so very well presented. Thank you Frontline!

  • Brian McManus
    Brian McManus 2 ай бұрын +4

    Moral of the story. YOU are responsible for your future, if You don't check over the work people do for you, YOU suffer the consequences.

  • C Rutherford
    C Rutherford 9 ай бұрын +9

    I worked for the U.S. Census over the summer some years ago, and was absolutely amazed at how many people would be in dire poverty if not homeless without Social Security, and how many people are depending on other people who have SSI. It has literally become a backbone of what is left of the U.S. middle class. Its not good, but could be so much worse.

  • Jason Marchi
    Jason Marchi 8 ай бұрын +8

    Great Frontline episode. The moral of the story? Where money is involved dirty thieves will be involved and attach themselves like leeches. Every single time. Let the buyer beware of actively managed funds (which are utter nonsense) and let's have MORE government controls to protect individual investors.

    • W B
      W B 5 ай бұрын

      for sure..leeches and barnacles.

  • Bleeding- Edge
    Bleeding- Edge  Жыл бұрын +60

    When this was first aired, millions watched and ended up saving tens or hundreds of thousands of dollars by switching to index funds. Now, right before he died, John Bogle was saying they've got too big. It was a site to watch this, and many can thank Frontline and John for steering people in the right direction. Today, it's not so easy. The future is murky

      CHARACTERNAME  Жыл бұрын

      ​@Bleeding- Edge There are index funds for TIPS and other bond instruments that gain value as CPI goes up. TIPS generally underperform the market but are a decent hedge against inflation fears. I like the SPDR TIPS ETF because it has good liquidity.

    • The Door
      The Door  Жыл бұрын

      Said my former money manager

    • Custom Shade
      Custom Shade  Жыл бұрын +4

      25 September 2021 - the future is not murky at all, we are in a bubble. No, I don't know when it is going to pop... but it will. That's what bubbles do.

    • Bleeding- Edge
      Bleeding- Edge  Жыл бұрын +3

      Veggie Madness Totally agree. I think people that have seen the last two bull markets think it will keep on going in perpetuity. I remember my father telling me about a decade of slow growth back in 1980-90ish. Although inflation was higher, you were losing in real terms. Many don't calculate this into their retirement projections. From what it looks like, we could still see higher stock market gains, but inflation will eat the hell out of these gains (unless your taking on more risk which can be catastrophic). I think some will be blindsided if they don't prepare accordingly

    • Joseph J
      Joseph J  Жыл бұрын +3

      Veggie Madness I calculate what I need to survive 20 years of retirement. If I live longer, I won’t need much cash anyway as I’ll be too damn old to move around as freely. True, many people die early into their retirements. It’s just luck so accumulating obscene amounts is futile. Enjoy your current lives too. Balance it. 😉

  • SMk5hybrid
    SMk5hybrid 7 ай бұрын +58

    How that CEO can keep a straight face while being asked why anyone wouldn't want to work with someone with their best interest makes my blood boil and makes me sad for our nation.

    • ArtaxForever
      ArtaxForever Ай бұрын +1

      @Darcy Fitzpatrick just because you don't need everything spelled out, doesn't mean a fiduciary is not better than someone who isn't. By definition a fiduciary is everything a mutual fund manager is but with a promise. There are bad mutual fund managers and bad fiduciaries, like there are good lawyers and bad lawyers. Isn't a lawyer who's a fiduciary better than one who isnt

    • Darcy Fitzpatrick
      Darcy Fitzpatrick 2 ай бұрын +1

      It was poorly framed but I’m pretty sure what he was saying is it depends where you are with your financial and investment literacy. Not everyone needs everything spelled out for them so can pay less to work with someone who isn’t going to hold their hand but that can show them products they are savvy enough to choose from. Not suitable for probably the average person for sure, and he should have known that was the spirit of the question, but he wasn’t lying that they both exist for different valid reasons.

  • graafisk
    graafisk 8 ай бұрын +673

    I hope anyone who sees these 53 minutes all the way through will come away with an understanding that:
    • The bank is not your friend! You are a source of their income.
    • Your financial advisor is not your friend! They rely on fees you bring upon yourself.
    • Your employer is not your friend! You are there at their whim, and your 401K is not in their best interest.
    • You need to put everything you can into being debt-free as soon as possible. Don't live beyond your means, and avoid going into debt at all costs; sell anything except your future.
    • Don't save money at zero percent interest! Pay things off quickly to live debt-free later.
    • Buy a sensible car and keep it for 20+ years. Don't lease or rent or borrow - get it only when you can, and own it.
    • Invest when you can as a one-time purchase in stocks you believe in... and let it ride.
    • Don't sweat when your investment dips; the stock market is a roller coaster ride - sell some at a gain when you need cash to live a little, otherwise ride it out and avoid fees.

    • mijkop
      mijkop 6 күн бұрын

      Thank you

    • Benj Soule
      Benj Soule 12 күн бұрын

      A bad investment or luck away from becoming homeless is America's problem, even with due diligence.

    • BigRedBone
      BigRedBone 21 күн бұрын

      I wish I could fit all that on a T-shirt. Great advice. Rings true.

    • graafisk
      graafisk 21 күн бұрын

      @Diogo Farias Agreed, but "Common Sense" is running a close 3rd place behind "Sense" and "DUH?!" - the top three losses in the educational system's failure to teach critical thinking.

    • monika w
      monika w 26 күн бұрын

      @GAMEON! What does Dave have to do with getting out of debt. No debt, no interest payments which is money you get to keep. Best thing I did was get out to debt. Peace of mind is a wonderful thing!

  • Jason H
    Jason H 2 ай бұрын +3

    What I took from this is that most people want someone else to take care of them and are willing to turn over that responsilibty even to the point it puts them in peril because of their lack of knowledge. Educate yourself on how to budget and invest. You are the best person to invest for your future.

  • nrs
    nrs 7 ай бұрын +1

    This to me is of utmost importance. When possible you must save, save and save. Invest and read frightfully boring subjects to get some sort of economic footing. As my father use to say "time waits for no one." Every situation is different. Prepare as soon as possible!

  • Brenda Kipkemoi
    Brenda Kipkemoi  Жыл бұрын +126

    I appreciate Martin Smith sharing his situation. You know hes reporting from the heart.

    • Matt W
      Matt W 2 ай бұрын +1

      @James Darnell And he's not in the same income bracket as most of the people who are admiring him, or have watched this video for that matter

    • DB Edwards
      DB Edwards 6 ай бұрын +1

      And the wallet.

    • James Darnell
      James Darnell  Жыл бұрын +4

      However, he is also the owner of a small company and he appears to know shockingly little about the 401(k) plan he offers his employees. Who are his plan's trustees and are they bonded? They are required to be fiduciaries. Does Mr. Smith hire an advisor for his plan? Does the plan's advisor offer guidance to employees who need some help developing a retirement plan or choosing investments (two very different things)? Mr. Smith paints himself as a victim of the system but as a business owner, he is also partially responsible for the success of his employees' retirement.

    • 105 Mike Mike
      105 Mike Mike  Жыл бұрын +5

      Martin Smith is the best.

  • Kari Paget - Idaho Real Estate Agent - eXp Realty

    Holy crap those 2008 banker bonuses are still the most criminal thing ever. I can’t believe the government bailed those SOBs out & then let them walk away with huge bonuses while the average joe & Jane suffered so much.

  • Regina McClung
    Regina McClung 4 ай бұрын +4

    For people that work in an office you can keep working, but those that have been doing physical labor most of our lives, it becomes very difficult as we age!!

    • Trung Tran
      Trung Tran 2 ай бұрын

      I just worked my way up. From McDonald's now I work for government. Moreover, I am an immigrant who speaks imperfect English. If I can do it, you can do it. Keep trying. It took me 10 years to have this role. And, I am not done, I will do whatever it takes to move up and retire early.

    • Coppington Farnham
      Coppington Farnham 4 ай бұрын

      i worked 33 years in a large public library....(migrated to Information Technology eventually), an office, but not your typical office job. I had to install computers, crawl around on the floor and under desks stringing cable and power cords, walk to service calls in the building, setup A/V equipment in multiple meeting rooms, move around inventory, including the liquidation of outdated tower PC's and printers. I also installed toner for dozens of printers and copiers. So I did a lot of walking, carrying and lifting. There was nobody else to do it, so I had to deliver boxes full of copier paper all around our building. Probably moved hundreds of boxes over ten years. I retired Nov. '21 at age 63. Starting to hit an obvious brick wall...

  • Richard Emslie
    Richard Emslie 2 ай бұрын

    Great film. I fortunately wised up to the high fee/poor return scam years ago and learned to do fundamental long term stock investing with very low costs. This has worked for me - and investing in yourself and giving yourself the financial education is worth the effort. For those who don’t have the right temperament or who are not prepared to work at this, then surely low cost index trackers or investing with someone like Terry Smith who has a fundamental long term approach will be best.

  • Brian Whitehawker
    Brian Whitehawker 8 ай бұрын +1109

    With inflation running at a four-decade high, a Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. I will be retiring in two years and I have a goal of doing that with $1M. How can I ensure this in this hard time?

    • Mike Yancey
      Mike Yancey Ай бұрын

      ​@Paul Hinflation isn't LIKE a tax. Inflation literally IS a tax. It's one of the three types of taxes.

    • Question Everything
      Question Everything 2 ай бұрын

      Stop whining. You have plenty. Just make sure your house is paid off.

    • Dennis Daar
      Dennis Daar 4 ай бұрын

      @Joseph Galish another say you're American without saying you're American comment,you guys paranoid

    • Joseph Galish
      Joseph Galish 4 ай бұрын

      @Kroft Services AND DONT SPEND! The best investors only buy low!

    • Joseph Galish
      Joseph Galish 4 ай бұрын

      @Paul H Yet you dont blame the CEOS who are skimming off the workers and putting their profits on the consumers. This is how consumers today really arent educated. Boycotting saves money. You buy in lean times!

  • Raj Kahlon
    Raj Kahlon Ай бұрын +1

    My wife was a ca school teacher. My wife and I have worked very hard and we have paid house and a apartment building and enough saved up years to come. It's never too late to start saving for future.

  • Rico’s FamChan
    Rico’s FamChan  Жыл бұрын +34

    Great Documentary, people need to see this and learn about their financial responsibility in letting someone drive their investments reaping all the benefits without carrying any risk for themselves.

  • The Silent Generation et al.
    The Silent Generation et al. 7 ай бұрын +1

    Whether you can afford to retire or not depends on your appetite for change, if you are in a precarious financial position. There is a way to retire and live like a well off person, even if you have not saved much for retirement. How? When I was 58 years old about 20 years ago, I was faced through circumstances like divorce and other pressures (bankruptcy)(employer pressure) to retire early. I was in no shape to retire early. Nevertheless, I started researching in my last year of employment how to do just that. I began saving as much as I could. My employer had a matching savings plan dollar for dollar, so I made that as high as I possibly could. Because of that, in one year I had saved $36,000. The next year I retired to the Philippines on that amount and lived comfortably until I was 62 at which time I started getting early Social Security payments which put me in a very comfortable position thanks to the exchange rate of Peso to Dollar. Now I own my own home free and clear for the past 20 years and am in no debt at all! Of course, I do not live in the States, but I do not miss it all that much, especially in light of all the trouble over there in recent times.

  • Ceballos Fermino
    Ceballos Fermino 4 ай бұрын

    *I’m 48years old living in California.I’m hoping to retire at 50 if things keep going well for me. Bought my first house last month and I can’t be more proud that I’m now. I’m glad made a great decision about my finances that change me forever*

  • R A
    R A 7 ай бұрын +4

    I was lucky enough to have a couple uncles that's always had several properties to their names while I was growing up. They had a HUGE impact on the way I saw the future. By the time I was 30 I was heading to owning my 3rd home in San Diego. I now have leave in my home with practically no monthly payment. My Advice to people is get into real estate, rentals in particular. Don't spend money on fancy cars or close, wait until you get a piece of land that's yours. Don't worry about what people think of you, just go get yours. And constantly keep trying improve either your career, cash flow and net worth, or all of the above. Never stop!

    • Freedumb Under Question Buddy
      Freedumb Under Question Buddy 7 ай бұрын

      If everyone owned their home you would have no tenants.

    • DD Lynn Designs
      DD Lynn Designs 7 ай бұрын

      "What you think of me is none of my business "! Segue to your comment "don't worry about what others think of you". If you saw my husband in the real, one would think he's a popper. The complete opposite. Doesn't give a dang about clothes, cars, things, except his tools☺️. Happy clams!

  • Brad Cornwell
    Brad Cornwell 8 ай бұрын +871

    Market crashes are golden opportunities to build some serious wealth. No one knows where any market is heading. I'm 100% invested long. I could care less how low we go because emotion and market timing kills. I am only investing what I can lose just in case everything goes south, though I will keep buying. currently i'm 24% up in my diversified portfolio. investing for the long _term is always a win

    • Kim Bartley
      Kim Bartley 4 ай бұрын

      Stocks are on "sale" concept

    • bills1995vette
      bills1995vette 5 ай бұрын

      Plus there are cycles, what’s hot one day (like tech) will be cold tomorrow (and eventually a buying opportunity again).

    • Taylor Armitage
      Taylor Armitage 8 ай бұрын +2

      @Jina Jung You speak briefly about hiring the services of a Pro, If you don't mind, How can i reach this Advisor? As my portfolios are in terrible state.

    • Jina Jung
      Jina Jung 8 ай бұрын +4

      Practical steps: Vote wisely, Spend only on necessities, Pay attention to your health, Try to spread your assets (locally and internationally) and while at it, always make correct inquiries so you don't throw your money in the wind or better still, get the services of a pro (that way, you give little room for error). Made my first million earlier this year this way and can comfortably wait out this "phase".. Good luck!

    • Kayla Wood
      Kayla Wood 8 ай бұрын +4

      It is honestly getting out of hand. Worse is our government pretends like they don't see it. I for one has been hit very hard and at this point, I am more interested in a solution because I don't think an end is near. What is the way forward for the less fortunate ones like me? How do we survive this phase? I am slowly losing my mind.

  • Steve Combs
    Steve Combs  Жыл бұрын +420

    This documentary is no doubt as relevant today in 2021 as it was when it aired in 2013. Thanks God for John Bogle, the patron saint of the index fund.

    • Kerry Smith
      Kerry Smith 20 күн бұрын

      @David Crandall this didn’t age well

    • Hog roamer
      Hog roamer 10 ай бұрын +1

      Why are crypto comments under this individual's comment? Why? Because trolls are always pushing their cause. Crypto is not investing at this point. Not saying it won't pay off big eventually, or that it will but, at this point it is gambling, not investing, wager only what you can afford to loose.

    • David Crandall
      David Crandall 11 ай бұрын +1

      @WakeUpAmerican000s My opinion is that most people don't give it enough of a chance. Over a 4 year period I think you will make money with crypto.

  • Barry
    Barry 9 ай бұрын +2

    Paying down debt prior to retirement is a good strategy, no matter how much money you have coming in or saved/not saved.

  • Leah Molly
    Leah Molly 2 ай бұрын +55

    Every family has that one person who will break the family's financial struggle, I hope you become the one 😊

    • John Rogers
      John Rogers Ай бұрын

      @christiana joe Be careful with cryptocurrency. It has wild price swings. You may be better off looking at short-term CDs. The return won't be great, but you won't run the risk of losing all your money in a cryptocurrency that is suddenly worthless (see Luna).

    • Charles Philhower
      Charles Philhower 2 ай бұрын

      Since when, there is no such thing as a guaranteed safety net.

    • DaBeezKneez
      DaBeezKneez 2 ай бұрын

      Once i break the struggle, I'm keeping the gainz!

    • Madie Zancanellatl
      Madie Zancanellatl 2 ай бұрын

      Keep learning from your errors, success goes with failures, try to hire experts and above all be prayerful

  • 58jcee
    58jcee 10 ай бұрын +78

    Outstanding video explaining how the wool was basically pulled over our eyes! I'm a baby boomer who was caught in the middle of this crucial change that led us down the negative path to retirement. Shame on the Department of Labor for not pushing this bill to be passed holding companies, banks, insurance brokers, etc. accountable to act in our best interest. Makes me so angry!!! When I first became a teacher years ago, I remember my father warned me about this. He told me they will rob you blind to line their own pockets, and said "never sign any document until you read it thoroughly and understand fully what you read." Thus, I was lucky enough to have my father as my financial advisor so I'll be fine. Wish I could change things for others.

  • Eric Wilde
    Eric Wilde 6 ай бұрын +61

    I am saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA also building my IRA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car truck paid off. So i can just save. feel lucky at this point I'm actually grateful for my advisor handling my portfolio.

    • WebBee
      WebBee 4 ай бұрын

      I bet you are one of the lucky one that don't have a wife

    • ••
      •• 4 ай бұрын

      Call SBF at FTX! He'll totally make you whole

    • Mittie Jackson
      Mittie Jackson 4 ай бұрын

      @Eric Wilde Bernard Lawrence Madoff. 🤣🤣🤣🤣 Will help you out.

    • ana Baird
      ana Baird 4 ай бұрын

      Lucky?? Or someone who made good choiced & blessed by God to have bn in a position to make such choices such choices.

    • bills1995vette
      bills1995vette 5 ай бұрын +1

      As of the latest round of the Fed raising interest rates (normalizing since the 90s) one can get a decent return in bonds.

  • curlson green
    curlson green  Жыл бұрын +76

    i really appreciate your diligence on this matter. I've always been flabbergasted by the market returns compared to my managed portfolio's. After years of disappointment I moved all my retirement accounts and liquidated all my funds into an individual retirement account and manage myself.

    • godkung1
      godkung1  Жыл бұрын

      Where do you keep retirement accounts and manage yourself? A bank or some kind of an investment app?

    • rj
      rj  Жыл бұрын +3

      We're just folk sharing knowledge. Accepting the ups and downs of living.

    • Malin
      Malin  Жыл бұрын +2

      That is what my neighbor is advertising me to do. I wish I had done it sooner.

    • rj
      rj  Жыл бұрын +1

      At 61 I rolled my retirement to an IRA. I learned my portfolio was aggressive. Unlike earlier years I could ride a hit. At 61 it wasn't practical. I've advised my son since his 20s to partner with a fiduciary investment firm and be money knowledgeable.

  • goodtalker
    goodtalker 4 ай бұрын +4

    I think a very bad thing is the way retirement income and investments, in general, can be killed in a divorce. My wife fought me all the way, for years and years and years about not wanting to work even though our kids were up and grown. Then one day she wants a divorce, and in order to stave off years of alimony, she got the house and 50 percent of my pension. Maybe there's another video on this topic?

    • goodtalker
      goodtalker Ай бұрын

      I'n about 5 years, I'm going to re-rent that movie "Nomadland." See what you think. I think I'll become a Nomad.

    • goodtalker
      goodtalker Ай бұрын +1

      I'm 60. After I retired from the California State Prison system, I went to work at Home Depot. Now I understand that I must work until I have over 30 years of constribution to Social Security because of what is called Windfall Elimination Provision----even after my former wife gets her half? Its a bitch.

    • goodtalker
      goodtalker Ай бұрын +1

      @Zoraster Amen. Have a nice day.

    • Zoraster
      Zoraster Ай бұрын

      It’s called gray divorce and getting fleeced. There is an entire section of KZclip dedicated to men’s issues under the moniker of “red pill.” Some of it can be toxic but there is a lot of knowledge and shared experiences. You’re not alone.
      The marriage rate is plummeting, in part because of these kinds of experiences.

  • Rajkumar Ganesh
    Rajkumar Ganesh 8 ай бұрын

    I really feel sorry for them. In my country most of the establishment is owned by government. Hence they have job and pension security 🇮🇳🙏

  • Chris Kelly
    Chris Kelly 7 ай бұрын +3

    2-5% annual fees by the managed fund are the fees you can see in the fine print. Not only do those 2-5% deduct from your annual 7-8% market returns, but they are still charged in the market's down years thereby increasing your loss by a further 2-5% on top of the market loss. In this way, returns in the good years are trimmed 2-5% and bad year losses are further increased 2-5%. It is all downside. Behind that are further fees deeper in the supply chain which are hidden in the fund's admin costs. This is why managed funds keep underperforming the market. Jack Bogle should be sainted for inventing index funds allowing us to bypass the managed funds.

    • Tanah Merah
      Tanah Merah 21 күн бұрын

      Jack Bogle is not always correct. His actively managed funds as a whole outperformed his low-cost index funds.

  • John Smith
    John Smith 6 күн бұрын

    I have a friend that is nearing retirement and he told me after a discussion about retirement that he doesn't have anything. When he was younger they tried to entice him to get A41K and all of that stuff. He did not go that route and he is still well off despite not having a retirement savings. He told me that even if he retired all that money was still going to come out with fees incurring. He worked all his life and kept his money to himself and invested in things and his own education. I could definitely see now that he was correct in doing so because if he had Trusted some companies with his retirement, He would be in this predicament. I have taken his route and after contributing to my 41K no longer am I gonna do so. I'm gonna keep that money and invest it well and in the future it'll give me a return.

  • MithicaSH
    MithicaSH Ай бұрын

    I know what has happened to those people is sad, but it makes me a little more hopeful for myself, because I spend a lot of time educating myself in my early 20s. By 25 I was saving 10% of my income. I am 27 now and I plan to save 20% by the time I am 30. Most of the saving is in a retirement account, not just liquid assets or private investment.

  • Mxyzptlk
    Mxyzptlk  Жыл бұрын +62

    Thank you Martin Smith, Robert Hiltonsmith and Frontline for this documentary, excellent journalism and very informative. Thank you.

  • David Roussell
    David Roussell 9 ай бұрын +4

    I remember thinking years ago that all of the people who own financial advisory firms were wealthy. And most of the people they advise weren't. Which led me to the conclusion that financial advisors don't get wealthy from investing as they advise their clients. They get wealthy FROM ALL THE FEES THEY CHARGE THEIR CLIENTS.

  • John Carlson
    John Carlson 8 ай бұрын +14

    Hate to say this, but two important reasons I'm comfortably retired are: I never re-married after my divorce (decades ago) and had no kids. However, the most important reasons I was able to retire are: I've always budgeted (saved) and lived well below my means, which takes a sh*t-ton of discipline. Now, at 63, I am living a level of freedom I couldn't articulate fully to others...it has to be experienced to be understood.

    • Death by Debt
      Death by Debt 7 ай бұрын +1

      Discipline is the key. I'm 39, married with a kid, and can work part-time if I want to. A high savings rate and a low cost of living is the way, outside of hitting the lottery or being a trust fund baby. 😂

    • meddeck
      meddeck 8 ай бұрын +2

      Marry me John. I am frugal too. 😅

  • Andre Daedone
    Andre Daedone 2 ай бұрын +3

    I retired at 53 with a retirement income of 16k. No debt. Today I am 67 and my income is 75k and will only keep increasing. When I retired, I had a garbage house. Today I have a brand new house with a vacation property. All about how you live, where you live, and not listening to people who think they know what they are talking about. Follow your instinct and more importantly, trust yourself.

    • K C
      K C 7 күн бұрын

      How did you increase your income after retirement?

  • Renee Fraser
    Renee Fraser 8 ай бұрын +2

    Thank you, Jack Bogle, for standing up for what's right.

  • TheJoannalicious
    TheJoannalicious 2 ай бұрын +1

    I appreciate the two old dudes, one of them a teacher. You have inspired me to look further into indexes. And to hire my brother as a financial advisor. He’s like licensed and stuff. He is an honest dude, I just grew distant because his family life is drama I do not need. Thank you for this Frontline episode.

    • K C
      K C 7 күн бұрын

      Don't let your family into your finances

  • Justin Wright
    Justin Wright  Жыл бұрын +46

    Through my career, I invested in the 401K to the extent I got some sort of company match. I had long noticed that the 401K options sucked. I switched jobs often and always chose to roll the 401Ks over to my IRAs (mostly Vanguard) which didn't suck. I'm retired, now. I have a fat wallet putting my back out of alignment.

    • Justin Wright
      Justin Wright  Жыл бұрын

      @lexwaldez I wish I'd gotten smart a decade earlier than I did.

    • Justin Wright
      Justin Wright  Жыл бұрын

      @Jum Piam I wish I'd started moving into a Roth earlier than I did. (I mention again, I am not a financial advisor or a tax advisor). When you convert a simple IRA to a Roth you pay tax on it. The Roth is not subject to required minimum distribution, which is a plus for me. Research this for yourself and don't simply trust me. I'm not an expert.

    • Jum Piam
      Jum Piam  Жыл бұрын

      I'm wondering that when you roll over your 401k to Roth IRA, do you need to pay tax right away?

    • GenX X
      GenX X  Жыл бұрын

      @Roger Johnson Watch Our Rich Journey to learn.

  • Jan Bechler
    Jan Bechler 2 ай бұрын +206

    The Savings Rate recently reached an all-time low of 2.2%. translates to a lack of money for Americans. It last fell to this level in 2006-07. just before the GFC Significant Recession Alert. Consumer spending would likely decrease significantly in 2023. I'm mainly interested in how people divide their income-specifically, how much goes to investments, savings, and consumption-as I would be retiring or working less hours in five years. I earn roughly $165K a year, but I have nothing to show for it right now.

    • Jan Bechler
      Jan Bechler 2 ай бұрын +1

      I looked up your advisor's full name and she appears to be trustworthy and knowledgeable. She is a fiduciary who acts in any individual's best interests. So I left a message on her website, and I'm hoping she responds soon. THANKS Edward.

    • Louisa Irvin
      Louisa Irvin 2 ай бұрын +6

      @Jan Bechler Yes, a J.P Morgan financial advisor named "JILL MARIE CARROLL" put an end to my fears about investing, and after making more investments, I was able to reach the seven-figure mark in less than 3 years. A licensing advisor satisfies the necessary security criteria; hence, reimbursement is guaranteed if I'm dissatisfied with the service, so I'm much better off hiring one.

    • Jan Bechler
      Jan Bechler 2 ай бұрын +1

      I'm self-employed, therefore I sponsor my 401k companies, and I'm open to multiple income streams. If you've worked with an advisor before, how was your experience with them? Is it as profitable as you make it out to be?

    • Louisa Irvin
      Louisa Irvin 2 ай бұрын +3

      In other words, during a 25-year period, an advisor-managed portfolio would have an average 8% annualized growth compared to a self-managed portfolio's 5%.

  • Cee Sno
    Cee Sno 7 ай бұрын +2

    Sometimes I feel like I am only one in my circle who is even remotely concerned with actual costs in the future.

  • Kevin Higgler
    Kevin Higgler 4 ай бұрын

    401K started 1978. I graduated June 1979. First day, I signed up for it. My current company was started by two drunk guys saying "Aren't you tired of working 60 hours per week and being paid 40 hours, lets start a company and give everyone 25% of their salary into their 401K". Which I've done for 21 years now. Wish I started there earlier. Plus they pay a standard salary. My 401K is good. No worries. I knew starting early was the way to go. Never looked at my 401K for 30 years. Got out before the 2020 dip. Ended up being a net loss, but not too bad. NEVER BORROW FROM 401K!

  • voiceMYopinion
    voiceMYopinion 10 ай бұрын +2

    Very informative!
    A huge eye-opener!
    Thank you!

    DANIEL DAVILA 7 ай бұрын +3

    Here in Mexico, there is a retirement plan for workers in the Medical Sector, and I used to work for an insurance company in which I used to see the pension checks that doctors, nurses and other medical professionals have, and I was amazed at how well they do, especially because they are retired, and let me tell you, I always wondered how they can have that level of benefit in exchange for the poor service that reigns in the Social Security Sector, I as most people think that most of these retirees are unworthy of such benefit, compared to the majority of the population in Mexico who receive a laughable retirement check, an insult really, so, what I am trying to say is that the government sector has no problem with their retirement, the problem comes when you work for a Corporation that its main purpose is to gain profit unlike the government whos main purpose is to spend the budget it gets every year, makes one wonder hu?

    • Chris Radford
      Chris Radford 7 ай бұрын +1

      I wish corporations weren't taking over

  • Jason Rivas
    Jason Rivas  Жыл бұрын +28

    I'm sending this out to my staff, to watch as they consider the short and long term implications of saving for their future needs. Such a well done presentation here.

    • Question Everything
      Question Everything 2 ай бұрын

      Great gesture. Great idea

    • Gabriel Garcia
      Gabriel Garcia 9 ай бұрын +3

      Maybe you could give them pensions to actually help them with retirement.

  • Snorre Wik
    Snorre Wik 3 ай бұрын +1

    Congratulations on an excellent documentary!

  • Leah
    Leah 2 ай бұрын +1

    This has been such an informative documentary even though it’s from 10 years ago. I’d love to see an updated version of the subjects discussed to see if any changes has happened in this industry.

  • Karen Session
    Karen Session 7 ай бұрын +5

    Jack Bogle IS THE MAN...May he rest in peace!!!! 👍🏾👍🏾

  • Robin McDuff
    Robin McDuff 26 күн бұрын

    I followed Jack Bogle from a young age. I am happily retired as I followed his advice (but I was in the market in the 90s! Though I retired in 2007, the year before the big crash.)

  • RL
    RL 6 ай бұрын +4

    Thank God for my military pension. Nevertheless, I am trying to start business, investing, and getting out of debt because anything can happen.😊

  • Kevin P
    Kevin P  Жыл бұрын +58

    This is one of the most important financial shows ever made. It changed my life and it should be watched by every American. Although I do not agree with all of Frontlines' views, I am forever grateful for this episode. Cheers!

    • Devon K
      Devon K  Жыл бұрын +2

      it is indeed a very sobering wake up call.

    • Kasey Propt
      Kasey Propt  Жыл бұрын +4

      Index funds !

    • The Door
      The Door  Жыл бұрын +7

      Read everything written by John Bogle He was the only honest man on Wallstreet.