Wall Street is Gambling with Your 401(k) – Robert Kiyosaki, Ted Siedle, and John MacGregor




There are many reasons why public employee pension funds have grown so fast and one of them is promises. Governors and legislatures made pension promises to public employees. The problem was and still is that these governors and legislatures did not fund the pensions to match their promises. As a solution to the problem, in the 1980s, Wall Street began selling pension boards high risk “credit assets.” 

The financially illiterate pension overseers blindly bought up these assets.

To make matters worse, as public pensions failed to meet their overly optimistic return assumptions, Ted Siedle, Co-Author of Who Stole My Pension writes in his latest article in Forbes says, “Now the Department of Labor has paved the way for equity “wolves” to sell the highest cost, highest risk, most secretive investments ever devised by Wall Street to 401(k)s. As private equity is embraced, 401(k) costs will skyrocket, risk will dramatically increase and transparency will plummet.” 

Host Robert Kiyosaki and guests Ted Siedle and John MacGregor discuss how agencies charged with protecting investors and retirement plans are taking greater risks and charging greater fees with a newly proposed exemption by the Securities & Exchange Commission. 

John MacGregor, Author of The Top 10 Reasons the Rich Go Broke: www.johnmacgregor.net

Ted Siedle, Co-Author Who Stole My Pension: www.siedlelawoffices.com

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7 thoughts on “Wall Street is Gambling with Your 401(k) – Robert Kiyosaki, Ted Siedle, and John MacGregor

  1. I left Hawaii also 2 years ago. I had to quit my unstable job in a hospital for 28 years. , Cobra payment was $700 a month, insane. I took out my pension and cashed it out, sold my apartment in Honolulu and moved overseas.The truth is Hawaii has become unaffordable, I got tired of working 2 jobs , just to survive and pay my bills. So, no more anxiety and stress. The best decision I have ever made. If I got sick in the USA, I would be broke and homeless. I knew it damn it , I rolled over my 401k. Don’t trust the hospital I worked for Banks and financial institutions I had a bad gut feeling to get the hell out of dodge

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