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-- will -- -- a very important a topic for you right now the race to save for retirement is on of course but many are not confident if you look at these new numbers 28% of Americans surveyed.
By the Employee Benefit Research Institute had no confidence zero confidence that they'll have enough money to retire comfortably.
Numbers up from 10% just five years ago.
-- a -- has found our co-founder and chief investment officer at highland capital management joining us now.
Mark when you have Anthony Sanders who teaches at George Mason was on earlier and now -- talking about the declining prosperity of the middle class.
How do you get people to change -- mindset and that's put away what little access.
On -- happening.
-- confidence earlier this is the topic of this survey right if you have a lot of confidence you're going to be investing it somewhere.
And I think that lack of confidence that we've seen across the capital markets have been really the big issue for the middle class -- how do you.
Get to this point right in the cycle and still have -- saved for your retirement stock market has doubled since the -- -- we're up 16% last year and the S&P were 9% already this year.
-- you've already seen a whole year's return and in three months so if you're not ready at this point because you're not invested in I had.
That's part of the problem with lack of confidence across the system so we've got to create more confidence.
I think first of all and creating confidence is something that I think investors can get.
-- on the -- invests so.
Sure I mean that there and they've struggled leave it comes about going up and they'd love to be in the market but they can't be out there are a lot of people out there -- cash and we can do about that.
Why I don't think that's gonna get any better unfortunately anything you're gonna have to make some some choices in here certainly people are gonna have to -- to work longer.
Right at that up -- that's partly via living a lot longer about it -- they're living commenting at the world around him.
But but at the same time you want your money working for you -- have to invest you're gonna have to make some some decisions around that.
And and we think that there are there are a lot of places to invest today that are.
That represented very nice return.
It's certainly if you missed a lot of the returns already if it's a tough place to be that doesn't mean you're not supposed to invest in this market program.
You talk about investing if -- have any savings and you are seventy years of age ultimately the responsibility.
Is going to fall along.
Well the federal government sure Friday and geese have an unwillingness to fix Social Security which is easy to tackle vs Medicare.
Medicare is going to be the same situation is that ultimately what we're facing in this country you have so few people socking away money for there -- time.
Well I think I think it's it's it's a two edged sword when you talk -- -- -- -- the Fed's gonna talk today about what's going on there with the committee.
We think that they continued to press the -- there's there's no way you can really.
Slow down what's happening as far as as quantitative easing.
In inner market like this so what does that mean it means that interest rates will continue to be low.
It means that though that the federal government really will continue to have to foot the bill for a lot of the retirement.
People like that at that don't have -- time.
These are big problems real problems -- -- -- was a little skeptical these studies that sometimes.
We -- -- make things look for some the mutual fund companies and others must say hey nobody said -- -- for retirement invest with us come here and then maybe it's not as bad from a big.
The federal government because they need at least in the short run people and Obama have minded -- -- -- and government all or maybe it really is as bad as we think for us hi it's not that there you go home run.
Thank you see mark I think I've -- -- -- all right.
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