Jack Bogle Is Worried About U.S. Pensions
Vanguard's Bogle Says Rivals Should 'Come On In'
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Jack Bogle isn’t optimistic about the state of U.S. pensions over the next decade.
The founder of Vanguard Group thinks a conservative portfolio of bonds will only return about 3 percent a year over the next decade, and stocks won’t do much better, with a 4 percent annual gain over a similar period. This is “totally defeating” for pensions, which “are not going to be able to meet their 7.5 percent or 8 percent obligations,” Bogle said in a Bloomberg Radio interview that aired Thursday.