This Might Signal the End

Retirement fund giant, CALPERS, voted in early November to use borrowed money and alternative assets to meet its investment-return target, even after lowering that target just a few months ago. Today’s guests discuss what this means for retirees depending on their pension for their financial future.  New York Times reported, “The move by the $495 billion California Public Employees’ Retirement System reflects the dimming prospects for safe publicly traded investments by households and institutions alike and sets a tone for increased risk-taking by pension funds around the country.” Ted Siedle, the co-author of Who Stole My Pension says, “These state and local pensions are refusing to give participants in the fund and taxpayers a prospectus on the fund. The money is all secret.”  John MacGregor, Author of the book The Top 10 Reasons the Rich Go Broke and a Certified Financial Planner says, “With this shortfall, we’ve got 10,000 people hitting retirement every single day, these states are heading for a pension crisis.”  Host Robert Kiyosaki and guests Ted Siedle and John MacGregor discuss the number one problem facing retirees today, and what you can do about it.  Learn more about your ad choices. Visit megaphone.fm/adchoices