From Pine View Farm

The IRA Scam 0

I remember when IRA’s were new. They were touted as a financial boon. It was in the time of high interest rates during the Arab fuel embargo. Million-dollar balances when I and my fellow 20-somethings reached retirement age were projected.

If you put aside umpty-ump dollars today, with company matching, you will have umpty-umpty-umpty-umpty-ump dollars when it’s time to retire.

It hasn’t quite turned out that way, has it?

Kavips explains why. A nugget:

You think? This is Wall $treet we’re talking about……

Read the rest, in which compound interest meets commissions, and commissions win.


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