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Originally Published 11/20/2020
“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:
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IMPORTANT NOTE: The information and opinions offered in this video by Wealthion or its interview guests are for educational purposes ONLY and should NOT be construed as personal financial advice. We strongly recommend that any potential decisions and actions you may take in your investment portfolio be conducted under the guidance and supervision of a quality professional financial advisor in good standing with the securities industry. When it comes to investing, past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All investments involve risk and may result in partial or total loss….(read more)
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Fortunately, I saw the writings on the wall, so I took the Lump-sum, rolled the money tax-free to Solo 401k bought 2 nice duplexes just before the pandemic. Best decision, this pension won’t die with me, and only increase in value, as rents increase and only taxable if I took a disbursement, while your monthly pension is always taxable upfront. If the pension don’t die with you, then it’s discount depending on your spouse’s age.
Back in 2011 after the 2008 crash, employee had to start contributing 3% of their salary, other benefits were cut as well, since the pension plan was only 83% funded, today after unprecedented run-up in the stock market, it’s still at 83% funded. In addition the politician changed the system where new employee’s defaults to the Investment plan, thereby undermining the pension plan. What will happen in the next inevitable stock market crash and rampant inflation? I won’t say which pension plan but I think most are facing similar circumstances and worse.
The painting in the background is so disturbing!
Gezz can you at least crop it out?
Good information but poor execution.
Partnered with a turd? Kyosaki kills it for me @7:06. Kyosaki is a proven fabricator (aka. liar) with zero financial experience other than telling others how to get rich.
Look at Raoul Pals videos a few years ago. Wow.
CalPers is run by a woman who only has a high school diploma. CalPers is investing in more risky stocks to try and reduce the big pension funding gap. When the stock market crashes as it is bound to with all the money printing and record national deficit, CalPers will take a great big hit.
What unfunded percentage is considered the point of no return?
110% federal bailout. Printer goes brrrr
Yes they are complicit
Rhode Island Gina worked as shadow for Bain Mitt… Just like the Martha Vineyard party house and netflix SJW liars and warons.
One of the best interviews at Wealthion.
Pensions got killed when boomers live longer than the original projection and there are now less babies (birth rate < 1.2)
What about healthcare in america, that needs to be improved.
clicking on subscribe gets you more money. that is all it is good for.
Stop the retirement crisis by stopping the federal reserve cartel
Same as the Social Security time bomb. Productive workers funding the non-productive. Just a matter of time before they all go bust.
Lots of states have surpluses right now right?
big picture problem — We don't make stuff but print money, then we buy stuff from all around the world with our printed piece of paper, people around the world started to realize the game we have been playing for the past 20 to 30 years, now they are trying to NOT play balls with us…. Once that starts to happen, the inflation we exported to the world will get imported back to the rooster… So watch out the inflation and collapse of dollar…
Pulled my pension a couple months ago. I’m happy I did
PBGC mass bailouts….Thank you Fed 😉
At 24:28 interviewer asks Ted a key question. Ted goes off for like 10 minutes and doesn't answer the question. Did I miss something? I was hoping for an answer. He's like a broken record. It doesn't matter what the question is he keeps saying the pension funds have been squandered. OK Ted. I heard you.
People buy bitcoin hoping it will moon when you historical facts and time tested REAL COINS that are better at wealth preservation.
We know a guy who used to rant about how pensions are broke and state employees won't get them. NJ. Then his wife got a state job with a pension. Now he says it'll be fine. People are irrational.
Quoting Ted Siedle in the book: “… believe it or not, state and local pensions aren't governed by any comprehensive federal law or any comprehensive law at all. Corporate pensions are governed by something called ERISA. The employee retirement income security act, which has a lot of requirements for corporate pensions. Public pensions are not subject to a ERISA."
Public pensions are getting bailed out with the trillions the Fed is printing.
Thanks Adam…this is so very sad… another way the self-appointed visionaries of Fabian socialist nonsense and retardo-Marxist Alinskianism are hurting people
"When you see that trading is done, not by consent, but by
compulsion–when you see that in order to produce, you need to obtain
permission from men who produce nothing–when you see that money is
flowing to those who deal, not in goods, but in favors–when you see that
men get richer by graft and by pull than by work, and your laws don’t
protect you against them, but protect them against you–when you see
corruption being rewarded and honesty becoming a self-sacrifice–you may
know that your society is doomed."
I have a sinking feeling that this situation is even worse than he documents.Funny that he doesn't mention the state of US Government pensions.Hard to even imagine the incompetence/malfeasance that almost certainly is reality.
Or like Alan Hevesi former comptroller of NY who tied pensions to hedge funds and other dicier investments. He went to jail but the deals he made were never reneged
Aren't states taking on more debt to "try" to "help" this problem?
Anyone who has a pension just developed trust issues.
someone should audit the Pension fund: City of Los Angeles!
The argument that it's unfair pensioners have more discretionary income after retirement is in the same vain as banks going to the fed for more when they should fail . The boat is sinking , doesn't matter how many are rowing . It's the same folks that said it was a waist of money and spent there's on singing lessons . Me , Me , Me . Woah is me . . .
I would really like to know what percentage of yearly return on one's investment Mike and John of New Harbor think they can achieve during a period of overall negative returns in the markets like that discussed in this and other recent interviews. I am OLD, and want to be able to invest in the near future some of the money I have in ways to make some yearly income to help with my living expenses.