Updated: November 11, 2016
It may sound crazy, but if you were to invest $1 million in the S&P 500 right now, you’d generate just $1,750 in monthly income.
That’s just barely above the poverty line for a family of three.
When that much capital fetches such a pathetic amount of income, something’s wrong.
You came blame the Federal Reserve and its ultra-low interest rates. Or a retirement system that has thrown Americans to the wolves, replacing defined-payout pensions with 401(k)s that are too often designed to take—rather than grow—your savings with absurdly high management fees and low returns.
In such an environment, our parents’ retirement strategies just don’t work anymore.… Read more