~ The Baby Boomer Dilemma Takes on Retirement Planning at Special Showing at Bellevue 12 on Feb. 21 ~
The Baby Boomer Dilemma, an exposé of America’s retirement experiment, had a special showing at Bellevue 12 in Nashville on Feb. 21. The showing was sponsored by Legacy Builders Wealth Management. Founder and President Andrew Winnett, who was a Contributing Producer of the film, spoke before and after the movie, inviting people to learn more about his company and the need for wealth management.
The 90-minute film featured a “Who’s Who” of the nation’s top economic minds on retirement investing including Robert C. Merton, Ph.D. (MIT & Nobel Prize winner 1997), William F. Sharpe, Ph.D. (Stanford & Nobel Prize winner 1990), Olivia S. Mitchell, Ph.D. (Wharton & Executive Director of the Pension Research Council), Bridget C. Madrian, Ph.D. (Dean, Marriott School of Management at BYU & former Professor at Harvard & Chicago), David F. Babbel, Ph.D. (Wharton & former Professor at Berkley & a division founder at Goldman Sachs), Moshe A. Milevsky, Ph.D. (York University, Toronto).
Government leaders and experts weighed in, including the Honorable David M. Walker (former US Comptroller General from 1998 to 2008, former Social Security Trustee, former Acting Executive Director of the Pension Benefit Guarantee Corporation — the PBGC), Hon. Mike Gallagher, Ph.D. (currently part of the ‘Trust Act’ bi-partisan commission to structure the fix to the trust problems), Eric A. Cioppa (2019 President of the National Association of Insurance Commissioners or NAIC and the Insurance Commissioner or Superintendent of Insurance for the State of Maine).
The Baby Boomer Dilemma featured industry experts like Ted Benna (the “Father of the 401(k)”), Edward Siedle, Esq. (former SEC attorney who pioneered the field of forensic audits of pensions auditing over $1 Trillion of US Pensions & the recipient of the largest Whistle Blower financial award from the SEC, Sheryl Moore (the industry’s competitive intelligence expert & fact-checker and Chairwoman & Founder of Wink, Inc.), and Tom Hegna (PBS Host: Don’t Worry, Retire Happy who also trained over 300,000 financial advisors), and authors Barry James Dyke (Pirates of Manhattan and Guaranteed Income), and Brett K Kitchen and Ethan Kap (Wealth Beyond Wall Street).
The film was eye opening, at times almost riveting, but I admit to dozing off briefly a couple of times. Maybe it was those reclining chairs.
In case you are wondering what the take away of The Baby Boomer Dilemma and Andrew Winnett’s talk was, it is that both social security and retirement investing are in bad shape for most people, but the word of the hour was “annuities.” As my friend Sara said as we left the theater, “Boy, they sure pushed annuities. If they don’t make much money on them, I wonder why they are pushing them so hard?”
That’s a good question, so I looked up a Dave Ramsey article on annuities and learned that Ramsey believes annuities have “way too many fees.” There goes the altruistic motive.
In any case, The Baby Boomer Dilemma is worth watching if you are concerned about retirement, or if you know you SHOULD be concerned.
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Sorry, Dave Ramsey is not a retirement expert.