re: 1 in 3 Americans have less than $5,000 saved for retirement

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Calling 401ks an inherently flawed system because people can choose poorly.

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Lot of truth to that.

Dear lord. Counting 401k?

I’m golden. Lol

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Trying not to stump for my profession, but there are people who can help you figure this out now instead of taking a wait and see approach

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I'm not just going to completely ignore it. I plan on every few years sitting down with a financial adviser and create a game plan for retirement investing based off where I am at that time. My 401k and Roth pretty much do their own things with Vanguard. I'll need to find where I have holes and adjust accordingly.

stay with index funds and spend an hourly rate with a CPA for tax maximization. i don't think any financial adviser could beat that route (esp net return after fees)

Financial education in this country is abysmal. It should be mandatory in both high school and college. There are intelligent people who make terrible decisions because they are financially ignorant.

The smartest thing I ever did that completely changed my life was read a book called Get a Financial Life in Your 20s and 30s. I read it at about age 25 and followed it to a T.

Nothing earth shattering in it but it laid out a blueprint for how to get out of debt (if you were in it), save and make wise financial decisions.

I've given it to co-workers and family members to read.

Today, as I near 40, I'm well beyond the basic advice it provides but it's still a great book. It's served me well and my mind gets boggled when I see how little people save. $5K? That's less than a single year's Roth.

If it was up to me, Financial Education would be a mandatory class and you could cut some of the stupid shite we'll never use. Everyone needs to know how to manage money.

WSJ: Index Funds Still Beat ‘Active’ Portfolio Management

Fortune: Stock-Picking Fund Managers Are Even Worse Than We Thought At Beating the Market

US News: Do Actively Managed Funds Really Pay Off for Investors?

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Last year, a Morningstar study found that "actively managed funds have generally underperformed their passive counterparts especially over longer time horizons, and experienced higher mortality rates – that is many were merged or closed." Higher fees were the chief drag on active fund performance, Morningstar concluded, echoing many previous studies.

Over a 10-year period, active managers beat comparable index funds in only one of 12 categories, U.S. mid-value stock funds, Morningstar found. Among funds holding growth stocks in large U.S. companies, for instance, only 16.9 percent of active funds beat their passive counterparts over 10 years.

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Does it break it down by age?

Wonder how far 1M will take me in Belize in 25 years?

There are studies that show a chimp throwing darts at a board picks stocks better than "pros."

Warren Buffet is putting all of his wife's inheritance into an S&P 500 index fund. Slow and steady.

I don't like buy and hold as there are easier ways to reduce volatility but for 99% of people it's better than paying some schmuck to guess which stocks will do well.

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according to Northwestern Mutual's 2018 Planning & Progress Study

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Not that the data is wrong, but that is coming from a company that's core marketing plan is making people nervous they don't have enough retirement money.