Vanishing Pensions

By Jim Selman | Bio

I have had several conversations with friends in Buenos Aires about how people deal with their financial security in their older years. To my surprise, the uniform answer is that they mostly don’t. Then I hear a story which, by my naïve North American standards is shocking, but whhich reveals something important for all of us as we contemplate our own future and worry about the uncertainties in the financial markets.

The story goes like this. Prior to 1994, all pensions in

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