Ep 10 – Broken Promises

Episode 10 - "Broken Promises" Pensions have long been considered to be the gold standard of retirement, the treasured benefit of public service and big company jobs. But because of changing demographics, evolving financial environments, and poor accounting practices, these once sure things may soon become a liability. With a reckoning soon approaching, will retirement, the markets, and all of us as a whole be able to survive this ticking time bomb? Chapters 00:00 Preshow 01:52 The Idea of Retirement is Centuries Old 02:26 History of Pensions in the US 04:46 Decline of Pensions 06:13 Crisis Looming; Dallas Case Study 08:58 Short Term Promises With No Long-Term Sustainability 11:10 Musuem Tower 14:40 What is a Pension Anyway? 17:24 Risky Investments 18:32 CalPERS 21:36 Public Pensions vs Risk Free Investing 23:35 The Individuals 25:23 Wall Street 28:14 Private Pensions Foreshadow Doom 31:07 Where Will the Money Come From? 36:22 Inequality and Discrimination 39:43 A Better Future 40:38 Wrap Up A full transcript is available as well as detailed links and sources (plus credits and more) on our website ashesashes.org. Find more information along with relevant news and links on your favorite social network @ashesashescast. CC BY-SA 4.0