The Bank of America accounts homepage on their website now has a ‘How much will you need to retire?’ calculator where you answer six simple questions and they give you back six simple answers.
Now the first thing that comes to mind is how stupid do they think I am? I’m suppose to trust their calculations of the money I need to put away for retirement (preferably with them I assume) so that I will have enough to live on once I reach my determined retirement age?
Really, these are the same people who could not do arithmetic well enough to avoid begging the Federal Government for BILLIONS of dollars to bail them out of bad investment deals that led to the near collapse of the world’s financial system.
Yes, these are the people I want giving me advice on how much money I need as a safety net in order to be liquid in the future!!!