Knowledge makes obsolete the inequities that ignorance and prejudice justify
For the past four decades. I have been involved in all areas of personal financial planning with specific activity towards education. And for all intents and purposes, it simply has not made a difference. Consumers do not read and think- they will spend more time analyzing the purchase of a refrigerator than reviewing their finances and investments and insurance. ~~ 59% of middle-income Baby Boomers do not receive professional financial guidance of any kind, whether formal or informal. A majority (62%) have some doubts that they will have enough savings to last throughout retirement.That said, a good portion of that problem is due to the fact that there has not been a solid attempt by the industry to offer real life assistance. They provide all sorts of marketing to induce purchase of "stuff" that generally is highly suspect in terms of fees and probabilities of success. The real offense is telling you that you have to accept huge losses (50%) one or twice a decade with the strict 'buy and hold' heuristics. That makes no sense whatsoever and is responsible for the trillions of dollars lost by mid America that they will never see again. Retirees, obviously, are the most vulnerable to this idiocy,
Anyway, I have attempted to get the governmental and private organizations (SEC, FINRA. NASAA, CFP BOARD, DOL, STATE DEPARTMENTS OF INSURANCE et al) to enhance licensing and continuing education training. It's not happening. Current emphasis for a fiduciary focus has been stalled by the industry and may never be implemented.
Admittedly, this is a "unique" commentary to start this site, but I actually do have hundreds of pages of information that can be used by involved consumers and industry members to upgrade their knowledge. The mainstay is the Daily Commentary- what I find as the gems of the day gleaned from material I review. Much of this is Master's level material- I never said it was going to be easy- but almost all can grasp something tangible for a better understanding of what to do in this turbulent world order.