See the link to article at end.
John Bogle: A savings innovation and philosophy that remain relevant
And in the same article, PBS broadcast alert tonight, November 13th at 7pm.John Clifton Bogle works in a sunny office lined with books, piles of newspapers and research, paintings of Napoleon's battles, and Frederic Remington cowboy sculptures. At 87, he has slowed down only a little.
"I used to work from 6 a.m. to 6 p.m., but I don't do that anymore," said Bogle, who was ready to greet a reporter at 9 a.m. sharp at Vanguard headquarters in Malvern.
The inventor of the index fund is retired from actively running the investment-management company he founded four decades ago, but he heads the Bogle Financial Markets Research Center on Vanguard's campus.
He spoke recently at WHYY's Philadelphia studios in conjunction with a new PBS documentary on the savings crisis in America, When I'm 65. Sponsored by the Investor Protection Institute and the Pennsylvania Department of Banking and Securities, When I'm 65 examines Americans' shortfall in savings, and new ways of living and working in retirement. It airs nationally at 7 p.m. Nov. 13.
Bogle suggests fixing Social Security: first, by raising the tax on both employers and employees; second, by raising the taxable wage base, to perhaps $150,000 or more; and third, obviously, by raising the retirement age, with some exceptions for those who do manual labor.
"It's amazingly easy. All that's needed is political will," he said.
Link to Inquirer Article
