Mellody Hobson and Paul Stevens discuss the future of retirement. Will Americans be able to retire and what's the best way to prepare for this life-changing event?
Mellody Hobson is the president of Ariel Investments, LLC, a Chicago investment firm managing over $3 billion in assets. It is also one of the largest African American-owned money management and mutual fund companies in the United States. She is also the Chairwoman of the Board of Trustees of Ariel Mutual Funds. Hobson is a regular contributor on financial issues to ABC's Good Morning America and a spokesperson for the annual Ariel/Schwab Black Investor Survey.
Paul Schott Stevens
Since June 2004, Paul Schott Stevens has served as president and chief executive officer of the Investment Company Institute (ICI), the national association of US investment companies. He also is a director of ICI Mutual Insurance Co. From 1993-97, he was ICI's general counsel. Mutual fund and other members of the ICI currently manage almost $10 trillion on behalf of more than 90 million investors.