John Oliver, host of HBO’s “Last Week Tonight With John Oliver,” slays the retirement industry in this fact-filled video from his recent show. He says high fees and conflicts of interest are slicing off huge swathes of the savings of millions of Americans. WAKE UP AMERICAN SENIORS!
He warns that tiny changes in your behavior can have massive outcomes for your retirement savings citing compound interest and the massive impact of fees on your investments. In fact, fees can reduce your savings by up to two-thirds! And he gives a great piece of advice on the one word you should look for in retirement investments: Fiduciary. Starting next year the law will require retirement investment advisors to serve in a fiduciary role. It’s important.
Oliver’s advice: “If you have an adviser, ask them if they are a fiduciary. If they say no, run.”
There are five things you must do. Check this out. Bookmark it for your kids. This is important.