Prior to 1974, employers rewarded workers for years of loyalty and hard work with a guaranteed retirement income. They didn’t have to save for retirement. After 1974, workers had to move a portion of their income into managed accounts stuffed with stocks, bonds, and mutual funds, hoping that the market would grow steadily for many years. Because people were not financially intelligent and didn’t understand the financial markets, a whole new industry was created, financial planning.
One reason why those in the middle class are getting poorer is because they’re playing by the old rules of money. They’ve been taught to go to school, get a good job, and save for retirement in a well-diversified portfolio of stocks, bonds, and mutual funds. Meanwhile, the rich play by the new rules of money and get rich off those stuck trying to play the retirement game in the old system.
it’s pointless to fight the system because the banks and the ultra-rich are in control and know how to manipulate the system to their advantage.
http://www.richdad.com/Richdad/RDBlog/RDBlog.aspx?TopicID=18
Comment:
We were scammed out of our own homes and the propaganda machine was put into overdrive so that everybody started blaming the "guy next door" instead of where it actually belonged. The smoke-n-mirror effect worked because everyone took their eyes off the true culprit... the root of the cause. The average person just focused on the effects, the symptoms & not the cause.
