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Retirement crisis? There are 3, says Vanguard founder Jack Bogle The country's retirement crisis is not only limited to Social Security's insolvency issues, says Vanguard founder Jack Bogle in this article on Money. Corporate and government pension plans are underfunded, with some plans having unrealistically high investment returns, while people who contribute to 401(k)s and other defined contribution savings plans face high expenses and other problems, Bogle says. Clients are advised to save aggressively and use low-cost, broadly-diversified investments, he adds.
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