Billionaire Ken Fisher Reveals the Biggest Retirement Savings Mistake
Young people are making a huge mistake when it comes to retirement savings, according to billionaire Ken Fisher, executive chairman of Fisher Investments.
Young people are making a huge mistake when it comes to retirement savings, according to billionaire Ken Fisher, executive chairman of Fisher Investments.
"Young people tend to have much too short a time horizon on the way they save," Fisher said in an interview with TheStreet. "If you're young, you have a very long time horizon."
Over a longer period of time, stocks tend to outperform bonds, Fisher said, and young people don't tend to share this line of thinking.
He said most young people spend before they save - Fisher advises the opposite. He even point to the possibility of needed to tap this savings before the typical retirement age.
"You might get forced to retire when you don't want to," he said.
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