Well worth a watch:
Agree. Enjoyed watching the vid. Like getting ready to go to bed with someone you are in love with and getting hit with a bucket of iced water.
The deception lies in believing that you are saving money for your retirement: by “putting it in” to —a 401K for example when actually you are investing your money and led to believe you are going to make a lot more. But the focus is on saving money to retire. And that is the sophistry that lures people into investing their money believing that they are safely putting their money into some account. But a man hears what ge wants to hear and disregards the rest when being informed before they dish out their cash into these pockets.The question to ask beforehand is: At the end on the day what profit am I guaranteed to make?
The vid uses the words investment and savings interchangeably to describe these so called retirement plans with brand names such as 401 —which according to the vid, these so called retirement plans are disguised schemes to borrow money from you for free, fooling you into believing that you are safely saving your money by putting in into an account, a retirement plan that you are investing in as if you are investing in your retirement but as it turns out, you are lending your money for peanuts.
Getting back to your original post, Middle class don’t view “retirement plans” ( I hate these palatable labels) as investment but as savings for their retirement. They usually don’t invest so they are conned into it with these schemes with fancy words and labels and sophistry and are duped into lending their money for free. Had they thought about it, as you posted, they could have really invested their money. You mentioned 3 classed of people but there are in actuality 2 kinds of people: those who invest and those who don’t and the middle class don’t invest, they are hoodwinked into lending their money for free.