Peter Bofinger Quotes

The decision to incentivise savings for pension funds augurs well for infrastructure financing and retirement planning.

It is never too early to encourage long-term savings.

We promote domestic savings by also things like the personal accounts associated with the president's Social Security initiative, which over time would generate more savings.

Voluntary personal savings accounts would enable future retirees to harness the power of the marketplace when saving for their retirements.

My firm has 25,000 high-net-worth clients. A typical account would be that of a couple aged 65 and 60 who need their money to last the rest of their lives, 25 to 35 years.

If you're 35, 45, or even 55 - you have a very long time horizon - 40 years or vastly more. That is you, and/or your spouse, are likely to live about that long, and you'll be investing the whole way.

You may have seen my firm's ads screaming, 'I Hate Annuities.' Folks ask why we run them. Simple: Because I do.

If I was a billionaire, I'd be smart with my money.

One of the great responsibilities that I have is to manage my assets wisely, so that they create value.

The problem is, how can we help them get rich and stay rich ourselves?

Whatever your income level is, save as much as you can - up to 20 percent, but more if you can - and invest it. Put that into an IRA; put that into a brokerage account.

If financial assets no longer work for you at a rate far and above the rate of true wealth creation, then you must work longer for your money.

If you're a retail investor, you have set aside some of your hard-earned money for investment or to create a nest egg, for your kids or family.

What we should be trying to do is to encourage people to establish private retirement accounts and help them take pressure off the Social Security system.

In the 1970s we saw a massive shift of household savings from the banks to the brokerage firms.

If younger people see older people who haven't planned ahead and have to rely on charity, the young will be more likely to provide for the future. Today when someone plans poorly, the only consequence people see is a demand for more government.

I have plenty of money, unlike other Hollywood celebrities or athletes that have not invested well.

The great increase in longevity has produced a surge in the desire to accumulate assets for retirement. It has outpaced the ability of the private sector to produce assets, so we need a larger government debt.

I have five major corporations, and I operate them. How could I be retired?

Maximising my wealth was never my chief thing.

Retirement security is often compared to a three-legged stool supported by Social Security, employer-provided pension funds, and private savings.

Bonds as an asset class will always be needed, and not just by insurance companies and pension funds but by aging boomers.

Once your kids are grown and you know that you're completely healthy, consider canceling your life insurance policy.

If you ask me, over time, I am a believer in the Indian financial saving story getting stronger; a lot more savers are moving money away from gold and real estate into banks, mutual funds, insurance and equities.

I tend to split my activities into fun, income and legacy. The number of things in that finance bucket is pretty few and far between and doesn't consume much time at all.