A Path to Retirement, for Those Far From It
Like John C. Bogle, the founder of Vanguard, whom he admires, Mr. Bernstein views Wall Street as a largely parasitic enterprise that flourishes at the expense of ordinary investors. “You are engaged in a life-and-death struggle with the financial services industry,” he warns in the pamphlet. “Every dollar in fees and expenses you pay them comes directly out of your pocket.” He recommends using basic, low-cost index funds whenever possible.
.. The nonpartisan Employee Benefit Research Institute puts the proportion of baby boomers at risk of running out of money in retirement at 40 to 50 percent.