NORTON META TAG

26 April 2013

Wall Street Is Eating Up Your 401(k) & FRONTLINE The Retirement Gamble (VIDEO) 25&23APR13

EVERY time the 99% turns around someone is screwing us or trying to screw us. Here is an expose on how we are being robbed by wall street again. From the Daily Agenda, be sure to click the link to the Frontline video....


Frontline’s Martin Smith hits us a with a hard fact in PBS’s most recent documentary, The Retirement Gamble. If you maintain a typical 401(k), he found, then about 2/3rds of your returns, as a net percent, will go toward Wall Street compensation:
Bogle: Costs are a crucial part of the equation. It doesn’t take a genius to know that the bigger the profit of the management company, the smaller the profit that investors get. The money managers always want more, and that’s natural enough in most businesses, but it’s not right for this business.
Smith: Bogle gave me an example. Assume you’re invested in a fund that is earning a gross annual return of 7 percent. They charge you a 2 percent annual fee. Over 50 years, the difference between your net of 5 percent — the red line — and what you would have made without fees — the green line — is staggering. Bogle says you’ve lost almost two thirds of what you would have had.
 LINK TO FRONTLINE'S The Retirement Gamble http://video.pbs.org/video/2365000843

Program: FRONTLINE

Episode: The Retirement Gamble
The Retirement Gamble raises troubling questions about how America’s financial institutions protect our retirement savings.
• Visit the The Retirement Gamble webpage
http://dailyagenda.org/2013/04/25/wall-street-is-eating-up-your-401k/