They’re Feasting on Your Pension!
Federal law in 1974 required companies to put money away to pay pensions. Based on stock market history, you had a right then to expect a 10% total return from 5% dividends, and 5% increase in value of stocks held on average for 6 years.
What you got, instead, was a bubble market, companies without money to pay pensions, and 1% dividends. The handlers of your money, meanwhile, increased their personal wealth through revenues multiplying from $27 billion to $270 billion. Brokers collected commissions on stocks held on average less than a year; fees for “managing” money went way up; and your money was used to acquire companies and fire workers.
Fix this rip-off by demanding that the financial motivations of the handlers of your money be aligned with your retirement needs! Instead of commissions and annual fees, pay for 5-year performance compared to a 5 % annual increase in stock value and 5% dividends. This change will also move the stock market from short-term greed to long-term growth.