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“We are on the precipice of the greatest retirement crisis in the history of the world. And that makes perfect sense because, first of all, we have the largest elderly population in the history of the world.
Just focusing on the United States: our elderly are woefully unprepared to retire. And in the decades to come we will witness millions of elderly Americans, Baby Boomers and others, slipping into poverty. ‘Too frail to work, too poor to retire’ will become the new normal for many elderly Americans.”
So warns forensic pension analyst Ted Siedle.
And Ted knows what he’s talking about.
He’s a former SEC attorney who has testified on pension abuse before the Senate Banking Committee. And in 2017, he secured the largest SEC whistleblower award in history of $48 million, and in 2018, the largest CFTC award in history at $30 million.
Too many of America’s public pensions are dangerously underfunded due to over-promised payouts vs contributions and poor fund performance. And corporate pension funds are in the hole a collective -$50 billion.
ZIRP has pushed these funds out of conservative investments into highly risky and opaque instruments they have no business being in. And that the rosy case, assuming markets continue their current trajectory.
But given how overvalued they are, even just a period of 0% returns (which respectable analysts like John Hussman are waring will be the return over the next 12 years), let alone a sizable market correction, will unleash a catastrophic cascade of collapses across the pension system.
Which is very worrisome to consider when markets are this overvalued.
Ted strongly advises every investor look at their current exposure to these coming pension failures.
If you’re relying on one for your retirement, what will you do if your monthly payment is cut in half or worse? And even if you aren’t, these failures will send shockwaves across every asset class as these funds reduce their buying and perhaps become forced sellers. How vulnerable is your current portfolio to that?
Which is why now, more than ever, is the time to partner with a financial advisor who understands the risks in play, can craft an appropriate portfolio strategy for you given your needs, and apply sound risk management protection where appropriate.
Anyone interested in scheduling a free consultation and portfolio review with Mike Preston and John Llodra and their team at New Harbor Financial can do so by clicking here:
And if you’re one of the many readers brand new to Peak Prosperity over the past few months, we strongly urge you get your financial situation in order in parallel with your ongoing physical coronavirus preparations.
We recommend you do so in partnership with a professional financial advisor who understands the macro risks to the market that we discuss on this website. If you’ve already got one, great.
But if not, consider talking to the team at New Harbor. We’ve set up this ‘free consultation’ relationship with them to help folks exactly like you.
…(read more)
LEARN MORE ABOUT: Retirement Pension Plans
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You should update this video….its so relevant.
Calpers is using leverage to speculate in the stock market.
The adults have left the room, patent insanity.
I agree. I think the next decade will be negative returns for the stock market.
One of your best videos
The crash will be terrible
Is our government getting out of control?
This is a scare for many people who thought they were getting good jobs after spending a lot of money on college. Oh people I fear we have more things to follow. I didn't know that state people handling the pension funds take other people's money and take a chance on investing it in Wall St. I am so glad I don't have a pension. I am glad that my time on earth is almost up. I have been blessed to have just enough to take care of my children and myself. I do not believe in Wall Street or gambling the little money on hand hoping to get a lot of money. Too much of anything can cause more problems. Teachers and other state employees make enough money to be called middle class. They didn't work all those years to be living in poverty in their senior years. I will pray for you all.
I'm 30 and haven't started saving for retirement, what are my best options for a retirement plan?
So they will be lucky to get back ten-percent?
I don't get "Who Stole My Pension." How is an Ohio retired teachers' investigation going to make the stock market go up?
Great content – but terrible audio. You should have stopped the video and re-shot with better audio. So hard to watch
In 1981 I wrote a paper for an economics class for which I was publicly ridiculed for predicting the collapse of the PERS pension plan in California. Simple math. What I calculated was that the pension would fail without government bailout by the time I was 65 yrs old. I turn 65 in a couple months.
Well, CalPers pension fund, the largest in the U.S. is run by woman with just a high school diploma. The CalPers board was aware of this yet hired her to direct the fund. California state workers should be alarmed.
Impossible to watch with the sound problem.
Bitcoin & gold
Cant hear him!!
I brought myself up by the bootstraps (poverty and abuse), became an occupational therapist, and then was left for dead at age 30 with a rare brain damage that resulted in Parkinson and dystonia. Now I just turned 40, am in poverty, going blind due to a new corneal disease and just found out this week that I have another rare brain degenerative condition. I have no one.i fought by myself since being left for dead, and since the shutdowns I lost more function, especially without my self directed physical therapy since the gyms shut down. I just hope that I have the courage to go off a cliff. Bootstraps, determination, willpower, and hard work sometimes still land you in hell. If you have money for land and are healthy, please enjoy your precious freedom!!
1. Fed will definately bailout the State & local pensions. Illinois has already started the ball rolling getting $2B from the Fed. I expect most states to get money from the Fed starting next year.
2. I doubt the Fed will let the market crash. There probably be some market corrections as the Fed likely isn't to have some lag between a correction and money printing.
3. The USA is a socialist nation and all financial burdens will be distributed.
At this point the Fed has painted itself into a corner. It can never stop printing, because if it did, the Federal gov't would quickly collapse. Imagine if Interest rates on US treasuries climbed near normal rates of about 6% to 7%. The Federal gov't would have to fork over close to $2T in interest payments (perhaps more since the Federal Debt is growing between $1.5T and $3.5T annually).
I would bet on most assets going to the moon as the Debt continues to pile up and Trillions are printed for bailouts every year. The dollar is slowing dying and sooner or later no one is going to want to use dollars.
“ Market are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting the unexpected “ George soros .
If I went to retire and my pension was gone I would do the one last option I have is to go out in a blaze of glory. I am sure every single individual crooked this way will do the same.
I'm sure the LEFT will come up with the answer to this Population demographic/pensions problem….
And it will be their usual response.
Get rid of the elderly. ie Euthanasia.
Watch the rising number of adverts for such, couched in the usual cant language.
If you are 12 years away from retirement you should not have your money in the stock market! It should be in a GIC or government bond fund to protect your gains.
The Canada Pension Fund has been slowly increasing the rate it takes off your paycheque. In 2018 it was 4.95%. In 2021 it will be 5.45%
Sorry, gave up because of unacceptable audio.
Most interviews are podcasts with video. This should have been fixed earlier.
But since you’ve spent time with him, will look at his writings.
Thanks.
Sigmund Freud spoke extensively about pension envy.
Fear not! Joe and Kamala will provide a one time pension catch up from the federal government. The Feds will have a one time one hundred funding of all underfunded state, city and local government pensions. This funding will enhance economic growth.
The same narrative – under funded pension, market will drop (20-50%), the system is going to collapse- is told in the last 20 years. Yes, the statistics can be used to support the Armageddon. And yet, the economic system keeps going, ADJUSTING and ADAPTING. There were ad will be corrections and bear markets, that is inherent nature of the phenomenon. One key principle to keep in mind is Market consists of human participants who is succumbed to human weaknesses and also endowed with human creativity and resilience. So, any perceived and experienced crisis will be met with human ingenuity. It is hard to be successful in investing without the balance view – optimism and pessimism – know when to act. Another key is that the market can keep on going, even with "irrational exuberance" – till we grow old waiting for the coming collapse. Just remember, even with the darkest time, there will be brighter ahead – market will recovered. Why? this is because we all want to be happy and to thrive, just not to merely survive.
Every person who lives in California should watch this video….
Adam-not sure what was wrong, but this dude is rich! Tell him to invest in a headset that works or turn up his volume!
PBGC has "no interest in investigation". Wow.
32 minutes in. Yrp.
Ted's Picasso painting is distracting.
Bloomberg just today mentioned pension funds rotation coming from stock market to bond to maintain it's 40:60 ratio, and you're telling me bonds only 10%?
Outstanding video.. very important information.. thank you very much for your direct, sober, and real analysis.
I've watched all of you videos, but the sound issues on this one makes it unwatchable. Perhaps if he was closer to his mic, or if you were able to equalize the sound in post production?
I believe that once these Pention Plans and their clients realize what is really happening to the Dollar, they will all slowly start to sell their FIAT backed assets and invest in gold…. Just like Ohio. That will propel the price of gold in dollars to unimaginable heights, and the escalation of the price will be subject to how many Pension Plans are doing this, at the same time and how much they decide they need to invest in gold.
Get a grip man. Humanity is going to be culled in great reset!
Well. This is why california is now taxing homes that elderly will pass to their kids. Now the kids have to pay crazy tax on inheritance….keeping pensions alive and well. Just raise taxes. Good times for the little people!
I look into my crystal ball here and I see waves of pretty angry elderly people armed with pitchforks and torches looking for the responsible politicians.
To me the only question is this: Will we see big deflation before the hyperinflation, or just get right to it.