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Showing posts with the label goose-necking

Gooseneckers, Misleading Medians, and the Art of Retirement Alarmism

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   Did you hear about the one that claimed an “average” American worker has less than $1,000 saved for retirement? Well, here’s hoping you didn’t — that your day was occupied with real issues, or perhaps even better that you saw the headline, recognized it for the ludicrousocity [i]  of the claim, and scrolled on without clicking, sharing, or commenting.  But some didn’t. Drawn like a moth to a flame (or perhaps more precisely, gooseneckers at the scene of a horrific accident), some likely did click, if only to see the preposterous assumptions and/or incredulous inverse compounding applied to create such a ridiculous conclusion. The  CBS report  cites “research” (and I use that term loosely here) by the National Institute on Retirement Security (NIRS) which — if one has paid attention to its previous outputs might more credibly be called the National Institute on Retirement INsecurity. I say that because the organization — which labels itself “nonpartisan” ...