On irrational retirement strategies

posted by
February 13, 2011
The Distributed Republic
by LeninOfLiberty  
Posted in Commentary

"'Most people are systematically irrational when it comes to retirement planning. They overlook the magic of compound interest and dollar cost averaging, waiting for their first gray hairs to start seriously saving for retirement. And so the government needs to make people start saving, starting young …' That’s the story we hear from the smaller government conservatives. The liberals go further, assuming that the peons are too stupid to make any retirement choices, so we need Social Security -- as if Congress was a better portfolio manager. Is this story right? Are people irrational?" (02/10/11)

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