Financial Opinion and Insights

Amazing! – But, Depressing…

Jim Lorenzen, CFP®

Jim Lorenzen, CFP®

I found a few interesting pieces of data from the Journal of Financial Planning:

  • 54% of Americans do not have a retirement plan.  They don’t know how much income they’ll need or where the money will be coming from.
  • 10,000 – The number of baby boomers becoming eligible for Medicare and Social Security EACH DAY for the NEXT TWO DECADES!
  • $13,700 – The average cost of family healthcare coverage per year for a small firm.
  • 1.86% – The median annual return increase for employees who use the 401(k) financial advice offered by their advisor over those who don’t.   What does that mean?  A young person getting help  and investing $2,000 per year for 20 years could have $47,923 more at retirement!  Hmmm.  1.86% isn’t so small, after all.

But, not everyone’s smart.

RegisteredRep magazine recently published their list of the 2010 Worst Managed University Endowments.   The Ivy League schools didn’t look so good:  Harvard was the worst, followed by Yale!  Brown was 4th!  Who were the three best?  Washington State, Virginia Tech, and the University of Utah.

Written by Jim Lorenzen, CFP®, AIF®

July 14, 2010 at 8:00 am