The Retirement Plan Solution: The Reinvention of Defined Contribution

摘要

This is a very timely and useful book. It comes at a time of growing uncertainty for individuals with regard to their retirement income, paralleled by an increased personal responsibility as to its accumulation; at a time when the future adequacy of retirement provisions is threatened because of both social security reforms and the turmoil caused by the financial crisis; and also when an overwhelming evidence of pervasive ignorance of basic concepts - such as the distinction between a nominal and a real interest rate, compound interest and portfolio diversification - has brought the issue of the consequences of financial illiteracy to the forefront.