“As long as they don’t run away with our money or invest it in a Ponzi scheme, they have little in the way of accountability to us when something goes wrong. And even then it can be hard to fight back.”
Carolyn McClanahan’s conclusion– the focus on saving for retirement is a fallacy that needs to go the way of the rotary phone, but we still need to save and plan for the future because we have no clue what will happen in our life or the world. Embrace the fact that uncertainty is the only certainty. Basically, we need to enjoy life today and save for the day we become disabled and can no longer work.