Defining Moment: Your Objectives, Assumptions, and Other Factors Affecting Long-Term Returns
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According to the June 8, 2018, release from the US Federal Reserve, the combined unfunded liability of private and public pension funds stood at $3.9 trillion. This stunning failure to fund the future of many American retirees was avoidable. Throughout this book, I have cautioned investors about the dangers of making “long-term” assumptions about the potential of various investments based upon backward-looking data points. This chapter will compare the results of four investor surveys: IPI/Campden Family Performance Tracking, NACUBO, US Household Net Worth, and the Forbes 400 from 1997 to 2017.