He pointed to a \u201cwoefully unprepared\u201d U.S. population.<\/p>\n
\u201cIn the decades to come, we will witness millions of elderly American\u2019s, Baby Boomers and others, slipping into poverty.\u201d he said in a podcast this week with the Peak Prosperity blog<\/a>. \u201c\u2018Too frail to work, too poor to retire\u2019\u201d will become the new normal for many elderly Americans.\u201d<\/p>\n Siedle threw out some startling numbers to show just how much pensions are underfunded, a pervasive problem made worse by their inability to reach performance targets, which is typically set around 7%.<\/p>\n \u201cWarren Buffett BRK.A, +1.41%<\/span><\/a><\/span> himself has said that is an unrealistic return,\u201d Siedle said in the interview. \u201cWall Street\u2019s solution to every investor problem is, and will always be, pay us more fees.\u201d<\/p>\n Investors then pay those higher fees for \u201cever riskier rolls of the dice,\u201d in an effort to chase returns, which \u201chas resulted, predictably, in worse performance.\u201d<\/p>\n Read it all<\/a>.<\/p>\n \u201c\u2018Too frail to work, too poor to retire\u2019\u201d will become the new normal for many elderly Americans.\u201d https:\/\/t.co\/9RCCLyyP73<\/a><\/p>\n \u2014 Retirement 360 (@Retirement_360) April 13, 2019<\/a><\/p><\/blockquote>\n\n