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According to Professor, Jeannie Suk Gersen, “Recent studies show that trigger warnings — an alert to students telling them to brace themselves for content that could revive difficult memories — could actually increase the trauma.” Furthermore, Lisa Robinson, along with others, has now proven that consumer warning labels don’t work either. Reporting in the Harvard Business Review Robinson states, “The problem with our present warning system is that it shouts ‘Danger!’ for both wolves and puppies.”
The preponderance of notices, forewarnings and cautions has led, for example, to over 800 different chemicals being labeled HAZARDOUS by the state of California. This copiousness warning and caution identification system has reduced the effectiveness of all warnings and cautions. With such a cluttered system many people mistakenly believe items and activities NOT labeled are safe or risk free. At the same time, with so many warning labels, people simply ignore them. This reduces the effectiveness of having a warning system in the first place.
Enlightening people to discern and decide for themselves what is and what isn’t dangerous, risky or unhealthy is the best solution to this failed system. This real reason this system has failed is because nobody can tell somebody else what is and what isn’t best for them. Such decisions have to be made on an individual basis. Government is not an all-seeing and all-knowing God which can make those decisions best. When individuals trust government to determine what is best or not best for them, they become enslaved.
In the financial world, government has labeled some products “qualified” or “tax-deferred” which implies these products are superior, less risky or better than other products. Unfortunately, this is NOT the case.
Just as labels warning students of certain content have failed to reduce trauma, and labels on food, chemicals and other consumables have failed to reduce the cases of cancer and other diseases, government “qualified” and “tax-deferred “products have failed to produce the needed resources to sustain a full retirement or reduce dependency on Social Security. Ironically, this is exactly what “qualified” and “tax-deferred” plans were supposed to accomplish.
The better solution to overcoming dependency on Social Security and a lack of money necessary to sustain a full and complete retirement is to enlighten people of the problem current seniors citizens are facing and allow them to discern and decide for themselves what risks they can afford and what amount of money they need to be setting aside out of each paycheck so they can be sure they have enough money needed to sustain their own complete and full retirement.
Unfortunately, there has been very little done towards educating the public about how to discern between different financial risks. Yet there remains a copious clutter of propaganda which continuously is disseminated warning people about the dangers of keeping money in guaranteed assets such a participating whole life insurance. But such propaganda is incongruous with the unflinching facts.
Participating whole life insurance has been and still remains one of the most distinguished and dependable places to build wealth with the assurance of that wealth being retained and not lost to interest costs, taxes, fees and inflation.
With that being said, don’t get fooled by the labels used in the financial world. Instead call us and get educated so you can enjoy the guarantees you must have to sustain your full and complete retirement. And between now and then you’ll have a better cash flow and lifestyle to enjoy as well.
Dr. Tomas P. McFie
Most Americans depend on Social Security for retirement income. Even when people think they’re saving money, taxes, fees, investment losses and market volatility take most of their money away. Tom McFie is the founder of McFie Insurance which helps people keep more of the money they make, so they can have financial peace of mind. His latest book, A Biblical Guide to Personal Finance, can be purchased here.
