Building the Nest Egg for Golden Years...Not So Much
THIS IS NOT THE RETIREMENT WE EVER IMAGINED Do you remember the drill of all those TV financial gurus in the Nineties? I liken to those graphics of a hammer pounding on the brain in old Excedrin or the appropriately named "Advil" commercials. First, "You are never too young to begin to save for your retirement." Trust me, is what they meant while on their quest for their first million by selling advice how to get rich. Alright already, point taken. We employees discussed the options available defined-benefit payout, a deferred compensation plan "457" followed by numerous others including planet "401-K" designed by K-Pax. Second, when they told you to save as much as possible...for YOUR retirement even though you had a mortgage, car payment, kids to put through school...forget them and "Pay Yourself First! Of course we did not fully understand this concept until Bain Capital unabashedly demonstrated years later. Third, we had no ide...