Editor's Note: You're going to be hearing a lot more from Tim Melvin in the weeks and months ahead. He left Wall Street headfirst when it became clear the folks around him were only interested in chasing hot stocks and index funds that sounded good but wouldn't bring the kinds of high returns he was interested in targeting. So he went into independent investment research for himself, studying what he calls the "20 Percenter's Club" of investors, with the vision to do better than 20% a year. Here's what he's found...
There's no polite way to say it: Americans are over a barrel when it comes to retirement.
Two decades of slow-rolling growth and the worst crisis since the Great Depression mean around 40% of today's workforce has nothing saved for retirement.
Too many people have too little money and too little time. And too many of them don't even realize it.
There's no big conspiracy, no giant hose job going on; it's a tragedy of errors. People are settling for subpar returns...
...and it's dooming them to a dismal retirement.
This is a grim picture, sure, but I'm not finished yet.
Let me paint you another. It'll show you how we got here, and, of course, what you can do about it...
Submitted for Your Approval: This Guy Has No Idea He's Doomed
Consider a man... a 55-year-old man sitting comfortably at a bar in any one of the dozens of fairly prosperous, anonymous suburbs dotting the Washington, D.C. - New York Corridor.
Our man is sipping a 12-year-old scotch (with a splash of water to bring out the aromas) as he contemplates his life.
It's on the verge of early evening, and our hero is feeling pretty good about himself.
About the Author
Tim Melvin is an unlikely investment expert by any measure. Raised in the "projects" of Baltimore by a single mother, he never attended college and started out as a door-to-door vacuum salesman. But he knew the real money was in the stock market, so he set sights on investing - and by sheer force of determination, he eventually became a financial advisor to millionaires. Today, after 30 years of managing money for some of the wealthiest people in the world, he draws on his experience to help investors find "unreasonably good" bargain stocks, multiply profits, and build their nest eggs. Tim tirelessly works to find overlooked "hidden gems" in the stock market, drawing on the research of legendary investors like Benjamin Graham, Walter Schloss, and Marty Whitman. He has written and lectured extensively on the markets, with work appearing on Benzinga, Real Money, Daily Speculations, and more. He has published several books in the "Little Book of" Investment Series and a "Junior Chamber Course" geared towards young adults that teaches Graham's principles and techniques to a new generation of investors. Today, he serves as the Special Situations Strategist at Money Morning and the editor of "Max Wealth" and Heatseekers.