Retirement Financial Suicide For Most

Economist: ‘Retirement for most people is financial suicide’…

“We Americans are financially quite sick,” he writes in his new book, “Money Magic: An Economist’s Secrets to More Money, Less Risk, and a Better Life” before listing all the financial gaffes we Americans make in our lifetimes.

“As a group, we undersave, underinsure, under diversify, pay for bad investment advice, rely on dying early, retire too soon, take Social Security at the first chance, free far too little trapped equity, borrow to invest in stocks, convince ourselves that stocks are safe long-term, live house poor,” he writes.

Yet most people are going to retire, whether it’s suicidal or not.