Hope is NOT a Retirement Strategy

Release date: December 29, 2021
Duration: 60min
Guest(s): Ted Siedle and John MacGregor
Ted Siedle and John MacGregor

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.