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Retirement Plans: Last Week Tonight with John Oliver (HBO)

99583 ratings | 9686271 views
Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips. Connect with Last Week Tonight online... Subscribe to the Last Week Tonight YouTube channel for more almost news as it almost happens: www.youtube.com/user/LastWeekTonight Find Last Week Tonight on Facebook like your mom would: http://Facebook.com/LastWeekTonight Follow us on Twitter for news about jokes and jokes about news: http://Twitter.com/LastWeekTonight Visit our official site for all that other stuff at once: http://www.hbo.com/lastweektonight
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Text Comments (5325)
LouisChiaki (1 day ago)
"Just keep your fees like your milk under 1%" lol
Remember when Jim Jefferies used to make super unPC muslims jokes before he got a night show? Pepperidge farm remembers
Ash Vandal (2 days ago)
The shadow under his glasses does look like little rat whiskers
AroundSun (2 days ago)
If we had more private sector unions and pension systems, people wouldn't have to rely on a crappy lump sum 401k when they retire, which more than likely won't amount to more than 20 grand a year anyway if you're lucky. Everyone loves the 'at-will' employment so much where you can be fired in a bi-polar second -- and the 'go it alone' philosophy regarding employment. The lack of collective bargaining agreements causes the race to the bottom regarding wages and deterioration of benefits. People with decent pensions retire and rake in 50-100k annually until they day they die, keep their healthcare, make more annually, receive pay raises each year, cant be fired for no reason, and get to retire with dignity and a pension after 20-30 years of service. Cops, teachers, most nurses, trade union members, firefighters...etc. Everyone should want that. Everyone I know who makes good money, CONSISTENTLY, is in some sort of a union. Whether its a civil service or private sector trade union. And we're talking 100-130k+ here. The ironic part is that most of them never had to go into debt for a worthless degree. And when we were all graduating college at 22, making 30k a year entry level, and were 50k+ in debt -- they have already saved that much and were at their top pay scale making six figures. People need to rethink their employment, right-to-work, and collective bargaining with employers in this country.
Bara Alzghoul (4 days ago)
Are there any good resources for retirement planning?
Old Person (4 days ago)
Get a good fee only financial advisor if you are going to use one. For free advice from someone who knows what they are talking about you could start by reading what Clark Howard has to say. It's free and he has been saying similar things to this John Oliver episode for decades. Index funds are boring but excellent. Edit. I like vanguard for investments. Edit 2. This is a great example of something Oboma did that should receive bipartisan support.
choc star lab (6 days ago)
Democrats retirement plan, tax the tax payer and never work a day in your life. Make people your slaves. SOUNDS LIKE A PLANTATION RUN BY THE GHETTO. MEET YOUR NEW SLAVE MASTER JOHN OLIVER.
The Dynast Queen (6 days ago)
So put money under a mattress?
Asbestos Fish (7 days ago)
Fun fact: everyone on that skit was 100% trashed
Asbestos Fish (7 days ago)
Tuppance should be a running joke.
deviant distortions (7 days ago)
Grown man wearing a Texas A&M class ring - acceptable! Gig’em #Aggies
Jason Rosenberg (10 days ago)
The federal reserve charges the United States taxpayers 6% on the money they borrow. That’s criminal!! Do you have the courage to expose the cabal of organized criminals running our banking system?
Samantha Womack (12 days ago)
I'm not going to be able to retire anyway so
Raghunandan Reddy C (14 days ago)
From my little research, it turns out investing in bonds is waste of money. They are not giving enough interest on them anymore.
P. Stratrovare (18 days ago)
I cannot believe how brilliant John Oliver and his team are at their work. Wow!
SuperPhdiva SRB (18 days ago)
retirement? lol
DozensOfViewers (18 days ago)
Most money managers can't do better than a monkey throwing darts at the Wall Street Journal
letsroll (21 days ago)
Has donald trump redone this law or something recently? I wouldn't be surprised if he tried since it was made by Obama.
Star (22 days ago)
That rob wiki page does not exist
Vito C (23 days ago)
Did they just pass up a chance to crush Kristin Chennoweth and make a wicked witch of the east joke?
Davis Hall (25 days ago)
Ain't even gonna lie. Cali Chicken Bacon Ranch sounds hella good
Mimus (25 days ago)
As a german I am happy, that we have a way better social security system than americans have...
Chris A. (26 days ago)
fostyboy (26 days ago)
Watching in 2018, nice one LWT : https://tools.wmflabs.org/pageviews/?project=en.wikipedia.org&platform=all-access&agent=user&range=all-time&pages=Rope
gmwdim (26 days ago)
It's not that hard. Put as much as you can reasonably afford into your 401k, and make sure you take the maximum company match if you have one. Distribute it into low-cost index funds, or target-year funds, with a certain amount in bonds depending on your age. That's pretty much all there is for the average person.
SuperPhdiva SRB (19 days ago)
gmwdim lol its very hard when you can barely pay your bills
Simon Kraemer (27 days ago)
If I go to the US, I will do this, but for now, I have my German retirement box, I know in the end this system might be broken so I need an additional retirement plan, but at least I hope I will have some money left for getting old. Do you actually have a state funded retirement office in the US, where you and your employer pays for your retirement?
Cyrel Dowell (29 days ago)
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SuperPhdiva SRB (19 days ago)
Cyrel Dowell stop trolling
Rushton Kate (1 month ago)
Nigglai (1 month ago)
thanks for the new background pic :)
muhu_88 (1 month ago)
Your best bet for retirement planning is to work in an expensive country and retire in a cheap country. My friend's parents worked in the US all their life, they were middle-low income families. They just retired, bought a house on the beach front in greece and are living veeeeeeeeeeeeeeery comfortably. My other friend's parents did the exact same thing, but with Turkey instead of Greece, and they bought a large villa with a farm.
DM Trouble (1 month ago)
PT Lynch (1 month ago)
Please update this. New laws old laws .. overturned laws ..
Holly Petrilak (1 month ago)
Just buy physical silver.
Just Looking (1 month ago)
Bye Felicia !
Marie Poppins (1 month ago)
" you need to leave him not threatening wife character" - made my day.
SwingFish (1 month ago)
seriously "safe money" is the top 1 advice? that's the worst you can do with your money .. especially when young, as inflation will cost you more as the interest will bring you in, sure there will be a higher money amount on the bank, but you won't be able to buy anything more with it. lucky the next tips are a lot more reasonable. but the thing about Fiduciary services is that you gonna have a lot of stones in your way if providing such a service. my company does operate completely on a win-win base (Fiduciary) even guarantee the Interests, and I can tell you the Rocks are put in the way by the law and regulatory bodies are massive. it is indeed a lot more easy to just call yourself a "Financial advisor" and rip peoples off.
Bianca B (1 month ago)
I love Billy Eichner <3
Randell Porter (1 month ago)
John Oliver is HBO's version of a "sponge on a stick".
marin ivošev (1 month ago)
Fucc u
terry ferguson (1 month ago)
Freemasonry = asbergers and NO COMMON SENSE.
terry ferguson (1 month ago)
When those nuclear bombs start dropping those gold and silver bars will disintegrate into thin ar,providing you even survive.See the video The Genesis 6 Conspiracy.Gonna be led off the the FEMA camps,soon.
terry ferguson (1 month ago)
USA has been set up to be taken down,by our Freemason Founding Fathers and those today are helping to finsh the job.The so called christian nations are the Northern KIngdom of Israel,whom God divorced and sent out of his sight and scattered them.WHY?For false god worship,sacrafising to false gods(often their own children)idolatry,occultism.THis the Northern kingdom of Israel is still doing to this very day.The majority.All these nations in psalm 83 KJV are coming against USA.USA is end times jerUSALem,and as such are among the most dumbed down people on the planet.Collapse is near.Those federal reserve notes will not be worth the part they are written on.Neither will a stupid piece of paper called a college degree.The only truth and knowledge is in the KIng James Bible,and the many missing books of the bible,and perhaps ancient writings of ancient empires.The real bible has been replaced with fake new world order bibles in most churches.WHY,if it is just a book of fairy tales?Like I said,most of all the truth and knowledge is in the book.Also it has SUPERNATURAL POWER to bring down satan and his apserger minions.Hosea 4;6 my people are destroyed from a lack of knowledge.Not getting knowledge is Satan`s beast educational system,of falsehoods.not in the fake church.or in satan`s colleges,and especially in the masonic lodges.Those in the Masonic lidges and other mystery relions,and secret societies are the most dumbed down,yet they think they are intelligent.They have so many demons controlling everything they thing,say and do and they are not enven capable of a thought of their own,TRUTH.That satan hasdecieved the masses,with the same line he used on Adan and Eve.You can be like gods.NO,you can`t.First it is a demon giving them some ability(magic)working through a brain dead corpse.2md these demons have to bow in the name of Jesus.
Nitin Puranik (1 month ago)
21:04 : One last tip - Don't forget to die. I didn't quite get what the joke was in that line? What was the joke/intent/message/underpinning sarcasms in that statement?
Rosa Lopez (1 month ago)
Better off stuffing your money in your mattress. Works every time. 😏
jellyfishattack (1 month ago)
I'd suggest avoiding naming your fund with an MF in it's acronym.
fordrac1ng81 (1 month ago)
doughroller dot net
Ainsley Hout (1 month ago)
#ladycrimes #feminism LOL!!! I just died!
Thank you!
Mike Baxter (2 months ago)
I'm a single Dad with 4 kids ... I got two birthday cards this year and two christmas cards ... out of those four cards, 2 were from my finical adviser ... AND he's sitting on like nine thousand dollars of mine .. :)
John King (1 month ago)
Financial advisers are parasites. There are some good ones, but the majority are there to milk you dry of as much money as they can get. I remember a friend telling me the only way you can guarantee money for your retirement is simply putting a % of your salary each month away in a savings account and never touch it until retirement. Maybe he has a point?
cartoon junkie (2 months ago)
wow, I feel so much better about the fact that I actively manage my account myself.
Brandon Davidson (2 months ago)
Yeah, the problems with financial advisors and brokers is when you try to do business with one that is privately owned, not one that is owned by another company.
Nicholas Plesko (2 months ago)
I plan to die before I reach retirement
Nicholas Plesko (1 month ago)
It'll probably be cancer
John King (1 month ago)
And if you do reach retirement age can we assume you will be opening the box with the rope, arsenic, box of pills and a knife to make sure your retirement does not happen?
Naþan Ø (2 months ago)
QUESTION: Does the 'throw darts at a list of companies' technique work in general, or was that cat an infinite monkey?
Jessi Meyer (2 months ago)
I find it hilariously ironic that Glinda Goodwitch was the one crushed in a freak accident this time.
xuyahfish (2 months ago)
That's exactly why I stopped working as a "financial advisor" for Prudential - I couldn't live with it on my conscience. There are a lot of laws but they bend the laws ALL THE TIME. You have to educate yourself, but I found that almost NO ONE educates themselves about their finances, even the most basic of basics they just don't know.
Idea Notes (2 months ago)
billyquaide (2 months ago)
The fiduciary rule requirement has just been removed. The financial advisor scam is now without restraint.
Christiane Meier (2 months ago)
Kill baby hitler
MrBlackPasta (2 months ago)
"Billy" in the end clip, is an actor in American Horror Story: The Cult.
Dragoon77 (2 months ago)
The Next Kong Hee (2 months ago)
Stefan laluna (2 months ago)
sorry stupid American's - the EU has us covered
DJ Wise Pariah (2 months ago)
Suze may be denying people who "can't" afford to save money, but at the same time, if they can't afford to save, they shouldn't be able to afford bullshit like $4000 fairy school.
scubaeric1344 (2 months ago)
Hysterical pommey! *nods*
Ibrahim Bukar (2 months ago)
I don't plan for retirement but now got a go lessons
qzniel (2 months ago)
I want all the worst things in life to happen to that guy at the end. He. Is. Insufferable.
Chandler Carrier (2 months ago)
Why do some of your videos have your F-words bleeped and some don't?
Denise Hall (2 months ago)
Don't forget about all the taxes paid when taking the money out of the account and I heard (not sure if this is true or not.) that the government taxes you every year depending on how much you have and how it's dispersed. Especially with ESOP programs.
6 weeks ago I joined a 401K. MassMutual, the administrator, can NOT answer practically a single one of my simple questions, either by phone or email. Their explanation and fee forms are long and scary. They initially told me my company contributes 3% of salary -- but they contribute ZERO. Maybe MassMutual only charges .53% per year, plus some small extra sneaky fees, based on reading their forms. Maybe. Hard to say. They're deceptive, confusing, incompetent, and they refuse to answer most of my emails.
Ann Mburu (2 months ago)
Let's face it ,"You're very very average" 😂😂😂
Ann Mburu (2 months ago)
Let's face it ,"You're very very average" 😂😂😂
Lucy Foreman (2 months ago)
If you'd like to earn $10 on the Ibotta app you can use the code: sgiayrf :) I absolutely love Ibotta and couponing! I've saved over $200... Every bit helps.
T Mc (2 months ago)
History: Six Feet Under (2 months ago)
Teacup pigs in teacups....... full screen. We'll go full screen now.
Torben Rudgaard (2 months ago)
For 10 years I took half of what I earned and bought rental properties - now I own 54 of them free and clear and im retired living at the beach in Thailand :-)
Lex Parsimoniae (2 months ago)
So these funds basically work like life Insurance
Kyle Schutter (2 months ago)
Agreed with the first 16 minutes of the show. Wrong solution though...
Lucy Cowan (2 months ago)
Ok great video, cool, yeah, did you just email Kristen Chenoweth like "hey can you star in our fucking skit about financial advisors or are you busy?" or what?
Shadowplayit (2 months ago)
honey badger don't care
Michael Anderson (2 months ago)
Is it just me those retirement ads make me want to punch that know it all investment guy in the face
Juan Pablo Paredes Rueda (2 months ago)
YouTube ecuador
Thomas Hansen (2 months ago)
Got damn America is a fucked upp place in all ways that are bad!
Johnny4eyes (2 months ago)
I thought you meant the Wiki page for "Rope", the Hitchcock film. That's probably pretty interesting given its then-revolutionary single-camera, seemingly single-take cinematography. But, rope, the actual rope? I'd hang myself reading that page. With a rope.
Daryl Gud (2 months ago)
That was totally enjoyable.  I loved it, still laughing.  But I guess it is no laughing matter.  don't you just feel like they lie to us?I keep hearing, we are living longer and we don't save enough.  But what really has caused our problems is the failed policies of the government.  Think about it.  Nobody has paid more into SS and medicare than the boomers, since their first wage earned.  The aged in the 30's got to keep every dime they earned, they didn't have to pay into SS or medicare, because it didn't exist, taxes were even a lot lower back then, maybe that is why they could save money.  In the 30's it was more agrarian and land was cheaper so you could get some and live off of your land, or their wasn't near as many regulations to keep you from hunting and living off of the land, trapping, fishing and gardening.  Starting a business was easier, less regulation and when they talk about the average age, they must be talking in developed nations or world wide, because my fore fathers lived into their 80's and 90's even back then.  As for us not saving more?  They say that wages have been stagnant since before most Baby Boomers went into the work force, compared to inflation.  Remember double digit inflation, down sizing and starting over in your career,  NAFTA and the flight of our industry leaving America, Recession after Recession through our whole working careers.  Now Age discrimination where after the "Great Recession" (2008)  Many people in their 50's could not get a job or were under employed.  All at a time when traditionally  people would hit the saving for retirement era hard.  Or What about all the funds we entrusted to the government for social security and medicare so we would have something in our old age, when we couldn't work or no one would hire us?  Do you realize that if you could have kept that same money taken for SS and Medicare from your first paycheck, more if taxes hadn't gone up so much, and invested it over the same time period,  not including all the money you have put into 401k's or IRA's, our elderly would all be multimillionaires.  Do that take the amounts you put into these programs over the time period you have worked to a financial planner have him run an investment portfolio out of it and see where you would be now.  It will shock you, especially if he can make it retroactive during the time period of the past when you earned it.  In the 30's you could live off of one income, but because of inflation and wages, our wives all had to go to work. Now with a double income we don't have enough to make it from check to check.   What do interest rates on savings look like today?  In the 60's and 70's you could earn 6 1/4 percent on a pass book savings account, 8% on a CD, now it is point nothing percent. Why is that?  Are times harder now than in the 60's and 70's or have banking policies changed with regulation that hurt the savers of America?  Use the rule of 72 and figure out the difference that makes alone.  Where if you take your interest rate, divide it into 72 the answer will give you how many years it will take to double your money.  Einstein said the 8th wonder of the world was "compound interest"  Where do you get that anymore? does it exist?  What about pensions, where did they go?  Maybe if our children were not still living in our basements with their families or still on our insurance that we are paying for, maybe if health care costs hadn't gone so high or gas prices (remember the lines) or food or so many other things, than we could have saved more.  This is all about the Boomers, the next generation to retire.  But do the math the boom was from 1946-1964, the peak being at the end of 1956.  Most people are retiring later rather than earlier, waiting until 70 before collecting SS.  So if at the beginning of the boom in 46 add 70 when did they start to retire 2016,  What about the peak 56 add 70, they won't retire until 2026, which means if they can they are still working, in fact most of the boomers will still be working until 2026. How old does those born at the end of the boom in 1964 have to be before they can start collecting SS?  Will it be past 70?  if we add just 70 that is 2034. And they said in this video in 2033, SS will run out of funds? It appears to me that the boomer generation generated a lot of  savings for retirement, the money was taken from them and will be until they need it and then, many will never see much if any of it.  So it leaves you to ask, I know they would love to blame us, but is it really our fault or lack of opportunity, regulation, high taxes, stagnant wages, medical care... things we have had to face that those in the 30's didn't have to face or pay for.  With now two incomes follow the money where is it going?  Most of America is struggling to live in a house,  not so much living in opulence and extravagantly.  Most of the elderly today have old furniture, worn out, that has needed to be replaced long ago, not living high on the hog, so where has all the money gone that we didn't save, because it seems our households don't have it.  And who is in debt more  Americans or the American government and who is paying the consequences,  (20 trillion dollar debt)  Maybe if they practiced what they preached, we would have done better, but it seems we have followed the example our leaders set.  How can they blame us.  None of these things are ever mentioned, its like they are saying we have not worked hard enough or they wish we would just die already,  it is always our fault, but is it?
KingQwertzlbrmpf (2 months ago)
Quite frankly, i'd love to go to the elf-spotting school if just to see first hand what they teach^^
Rory Wilson (2 months ago)
Corner straight wrong profound statue emission challenge questionnaire lesson communicate shuttle lady stomach.
Hichem Mettiti (2 months ago)
Oh dude , this both scares me shitless , and makes me want to see Bill Burrs reaction to this
Joseph Hooley (2 months ago)
Jonathan Branch (2 months ago)
Gene Hackman is dead
ZAM zam (2 months ago)
and lastly, don't forget to die! LOL
BountyFlamor (2 months ago)
the antonym to re-active is pro-active, not active.
ternes99 (2 months ago)
https://www.investopedia.com/updates/dol-fiduciary-rule/ - Dep't of Labor Fiduciary Rule (advisors for retirement funds must be fiduciaries) still not implemented as of May 2018.
Rimu N (2 months ago)
To the people wondering how American retirement works. Your company (not all) provides a 401K which they will match 5% of your contributions. The percentage varies but generally 4-6%. Your contribution gets deducted every paycheck. This money is often managed by a different financial company (fidelity, Vanguard, Blackrock, etc). I personally manage my choices, because Fidelity put me in a lot of funds when I only needed to be in five. They normally spread you out across different funds depending on your risk tolerance. Since I am in my 20s. I pile on more risk so i am at 90% stocks 10% bonds. As I grow older, that shifts to more bonds than stocks, Bonds generally have lower returns but they are also more stable (unless it's emerging markets...). I prefer this to pensions. Why? You can actually calculate your expenses and your future value. For instance, you can take the amount you spend every year, your contributions whether weekly or monthly, your average returns and calculate the future value of your money. You can gauge how much you'll need for retirement. This means, if you meet your retirement amount, you can not work anymore or even retire early. You generally can withdraw about 3-4% of your portfolio without affecting your portfolio and live like that. With a pension, you have to work for a company for a huge period of time to get one.
Yngve Andersen (2 months ago)
im so fucking glad i dont live in the us! i be better of in Kenya...
Salem Evans (2 months ago)
My only question is wtf is an elf spotter
yaksher (2 months ago)
Passive investment performs as well as average—the market grows, so you'll generally win. Active investment _on average_ also performs like average. Except someone wins and someone loses. And most people lose. Almost by definition, most can't do better than the market. Stock is very, very close to random noise, you win by figuring out the tiny components which aren't. Most active management can't do that, and instead they become prey for those who can. (Paraphrased words of someone who gets 100% annual returns (yearly doubling) on millions of dollars) @10:35 You're not going to win big. You're going to win average... which is a lot more than can be said for almost everyone who tries anything else. The market is a 'fixed sum game' (which is a term I just made up, though it's probably been used before, but it's pretty self explanatory. Zero sum game is where everything you win was lost by somebody else. Fixed sum game is where the total resources increase, but the amount by which they increase doesn't depend on the actions of the players and the players are still competing over a fixed amount of resources).
P 3 (2 months ago)
I'll lose my own money in retirement thank you ! I earned it.....I'll lose it. It's mine to have fun with.
SecondLifeDesigner (3 months ago)
Yeah and Trump is killing the fiduciary rule. It just more proof he doesn't care one bit for the middle class and working people of this country.
SuperPhdiva SRB (18 days ago)
SecondLifeDesigner middle class? lol we have rich and broke
bubblefish (3 months ago)
I played a stock game in AP Econ. Chose and oil company then typed in random letters and chose the first thing that popped up, as long as it showed positive returns. Got thirty percent returns and beat everybody in the class, including my teacher. Average stock returns are seven percent. Think of that when you're debating paying for an expert.
Angel (3 months ago)
Cool video

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