Saving for retirement is the main financial concern of U.S. consumers, according to a recent survey conducted by an international opinion research company. Although 44% of those surveyed said adequate retirement is their top financial concern, nearly half said they aren't confident they are saving enough.⁽¹⁾ Granted, there is nothing easy about starting from zero in net worth and making it all the way to $100,000, $200,000, $500,000 or perhaps even over one million dollars in savings. The road to financial security in retirement is typically long and sometimes difficult but surprisingly well within the means of most working Americans.

Janet Lowe has just completed a terrific book profiling Charlie Munger, the vice chairman of Berkshire Hathaway.⁽²⁾ Charlie Munger, along with Warren Buffett, piloted Berkshire Hathaway into one of the most astounding investments ever. Janet Lowe, in her biography, tries to unlock Munger's secret for becoming wealthy. Munger says this about becoming wealthy: It starts with desire. Munger said one of the most important events in his life occurred when his grandmother took the time to read over and over to him the story of Robinson Crusoe. That book convinced him that life offers no better reward than personal freedom and independence. It became apparent to the young Munger that attaining wealth would provide the means to some day become independent.

It starts with desire. That, according to the billionaire Charlie Munger, is the secret to becoming wealthy. The genesis of financial independence is found within a person. It is not based on any particular investment, professional degree or high paying job. Desire, along with under-spending one's income, and time are the keys to financial independence."Getting wealthy," explains Munger, "is like rolling a snowball." "It helps to start on the top of a long hill-start early and try to roll that snowball for a very long time."

Contrast Munger's simple message with all the noise found in popular financial periodicals promoting tips on how to super charge your 401(k) or retire 10 years early by chasing after hot funds or other investment vehicles destined to go through the roof. Time spent pursuing the next great super charged investment is much like panning for gold. Most end up either flat or broke before ever hitting pay dirt. The focus on wealth creation is generally flawed whenever concentrated on those things external or outside the self. Wealth is created from within. It starts with desire and discipline and time. For example, examine a disciplined investment program employing the Affiliated Fund, Lord Abbett's largest Fund, which began all the way back in Franklin Roosevelt's first term. An investor who started saving in 1972 by investing $250 each month in the Affiliated Fund for the next 28 years, would have had $1,125,962 by September 30, 2000⁽³⁾ It starts with desire. Becoming wealthy is like rolling a snowball.

⁽¹⁾ "Pensions and Investments" November 27, 2000, p. 60. (3)Past performance is no guarantee of future results. Investment returns and principal will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Reflects performance at the maximum 5.75% sales charge applicable to Class A share investments and includes the reinvestment of all distributions. SEC Average Annual Total Returns as of 9/30/00 were: 1 Year: 10.90%; 5 Years: 16.50%; 10 Years: 16.67%. For more complete information about this or any Lord Abbett Mutual Fund, including risks, charges and ongoing expenses, please call your Investment Advisor or Lord Abbett Distributor for a Prospectus. An investor should read the Prospectus carefully before investing.

⁽²⁾ Janet Lowe. "Damn Right. Behind the Scenes with Berkshire Hathaway Billionaire Charlie Munger." John Wiley & Sons, New York. 2000.

⁽³⁾ Past performance is no guarantee of future results. Investment returns and principal will fluctuate and shares, when redeemed, may be worth more or less than their original cost. Reflects performance at the maximum 5.75% sales charge applicable to Class A share investments and includes the reinvestment of all distributions. SEC Average Annual Total Returns as of 9/30/00 were: 1 Year: 10.90%; 5 Years: 16.50%; 10 Years: 16.67%. For more complete information about this or any Lord Abbett Mutual Fund, including risks, charges and ongoing expenses, please call your Investment Advisor or Lord Abbett Distributor for a Prospectus. An investor should read the Prospectus carefully before investing.

The name of the investment professional who manages your company-sponsored retirement plan appears on your quarterly Lord Abbett investment statement if your company uses Lord Abbett funds. Maintaining a strong relationship with this individual is time well spent toward building your financial future.