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.
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