Customer Reviews

When the Good Pensions Go Away: Why America Needs a New Deal for Pension and Healthcare Reform

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After listening to Bob Brinker (host of Moneytalk) interview Thomas Mackell, I realized that Mackell is a brilliant man with an important message. Unfortunately, most Americans are so mesmerized by sports, celebrities, and inane television programs that they will not discover the looming fiscal crisis that is demographically inevitable. Interestingly, during that interview, Mackell discussed the possibility of intergenerational warfare in the not-too-distant future. For someone who is Chairman of the Federal Reserve Bank of Richmond (and hence a credible, mainstream person) to forecast such a dismal future is almost unprecedented . . . except that Kevin Pezzi, MD, author of True Emergency Room Stories (now available as a free e-book download from the doc's site) made that prediction a decade ago. But what do Americans do? Keep electing politicians who lack the intelligence or courage to face this issue, thus making intergenerational war increasingly likely. Most Americans are so uninformed that they are oblivious to this problem and would likely deem it to be virtually impossible, but such skepticism merely illustrates their ignorance. This disease has no easy cures, but Mackell's book is a wake-up call that might help us avoid electing politicians who will exacerbate the problem. Too bad Mackell isn't running for President; he is smarter and more knowledgeable that the current two candidates combined.

Tom Mackell clearly shows the problems we will face if 401K's become the primary source for retirement security. Did you realize that 90% of Americans who have a 401K never change their asset allocation? The American public needs to become more educated about the issues that we are facing as a result of our broken retirement and healthcare systems. Mr. Mackell outlines how a combination factors have led America to the brink of a devastating financial disaster. However, he also goes on to identify how we can begin solving these problems. He identifies a number of attainable steps including the addition of financial literacy to lower school curriculums. He also discusses the pitfalls of our nation's obsession with debt at the personal and government level. Hopefully it will serve as a spring board for us all to address this problem.

Tom Mackell coherently and in simple logical terms conveys the true current state of affairs in America. While centering his comments on retirement and healthcare issues he touches on political, cultural, religious, ecological and social factors in an insightful and profound way. This book is a must read for every voting age American - hopefully it will spark the necessary nerve that will result in substantive and productive change. Tom Mackell's dissertation is brilliant!

Michael C. Pastena

President

Advisors' Education Group, Inc.

This book does an excellent job of establishing that we need to be thinking broadly about protecting defined benefit pensions and health care benefits. Although the book's subject is pensions and health care, it focuses on how and why they've been undermined in recent years. The loss of defined benefit pensions and health care benefits is, of course, bad for those who lose them, but the book makes the case that it's also bad for the United States. The author provides 12 proposed action steps to reverse not only the pressures on pensions and health care benefits but also to counter the political, social, and economic forces that have led to attacks against them. The book serves as a wake-up call, which was surely the author's intent.

I have actually had the pleasure of hearing Tom speak on this topic at conferences and it's a subject which if it isn't of concern to you now, is something you should definately start thinking about. The subject matter, which could be bogged down in facts, figures and dry detail is instead conveyed clearly and precisely. It outlines the key issues regarding pension and healthcare in the US today and the unhappy future we are facing, prompting the reader to fully recognise what is looking to be a dire situation instead of burying their heads in the sand. It contains some real eye openers which should start people of any age asking questions about their pension and health plan.

This is a rediculous price for a Kindle edition that costs the publisher next to nothing (after the initial conversion to the Kindle format) and that I can't share or sell.