Re: PBS Frontline Show - Can You afford to Retire
I think this show has been discussed in two complete threads previously in this forum.
The conclusion I came to is that some folks are idiots because they cash-out their 401(k) plan all at once, pay a ton of taxes and then give it to a salesrep who puts them in an annuity with an 8% commission, poor return, and 6% front-end load. No wonder they cannot afford to retire.
But that makes investing in ING, HIG, AIG very lucrative for folks who know those companies are cleaning out up the retirement accounts of other people.