Where do we go from here? Personal Finance in the 21st century

We are nearing the end of the first decade of the new millennium. In the early years of the new century, we witnessed some of the largest accumulations of wealth of all time.

But as time passed, the housing market and the stock market showed the emperor without clothes. As companies grew from pension plans for retirees when you know how much they get when they retired to defined contribution plans, where workers took the market risk, which seemed like a great idea, suddenly has become an albatross, a sign of evil omen of bad times ahead. (more…)