Last Week Tonight Episode Review: John Oliver Addresses Orlando and Your Retirement

John Oliver Minds Your Ps and Qs

As we would hope he would, John Oliver began this week’s addition of Last Week Tonight with a sincere expression of sympathy for the victims of the Orlando massacre. In it, he freely admitted that anything he planned to do in the show to come would be of little consequence in comparison. Of course, that does not mean it would be of no consequence.

One really good thing about Last Week Tonight is that it does not simply focus on the major headline-makers for its main segment. The result is that we are given the opportunity to think about bad situations we may have tolerated, not out of agreement, but out of ignorance. That was the case with tonight’s main segment on the subject of retirement plans.

As we listen to the host’s sharp criticism of the system as it stands today, we should do so with a sense of perspective. I once got a look at something like a 19^th Century employee’s manual for clerical workers, in which the employee is instructed to set aside ten percent of his pay so that, upon retirement, he will not become a burden on his betters.

But, as Oliver would point out in his own words, we may have come “a long way from St. Louis, baby, but we still have a long way to go” in terms of our retirement plans.  Among the important points he made were that anyone can set up as a “financial advisor.” It would probably be helpful if your advisor had gone to an accredited business school, such as Trump University (JUST KIDDING!), but he could claim that same title if he were a high school dropout. Oliver went on to say that, unless the person or entity guiding your finances is operating as a fiduciary, he does not even need to keep your best interests in mind. For example, your advisor could be more keen on moving that turkey of a stock his employers want to push on investors than on moving you toward financial security. Oliver then noted that our government had recently passed a law requiring that all financial advisors be allowed to serve only as fiduciaries. To the surprise of nobody, he showed how the financial planning industry fought tooth and claw to resist the change, giving us a look at one of those many ads the obscenely rich broadcast to rally middle and working class people to advocate against their own best interests.

Another point he made is that the advice, even if honestly given, is hardly infallible. Let us remember there was a time in our recent history when many investors thought an energy company called Enron was the cat’s sleepwear. Oh, by the way, a cat does figure into this segment, but you will need to check that out on your own.

A third important point Oliver makes is in regard to the cost of this financial advice. As a principle, the idea sounds reasonable. If someone is taking the time and trouble to give you honest advice on planning your retirement, should that entity not be paid a reasonable fee? Of course. The thing that Oliver shows us is that, what may appear reasonable on the surface can actually be very costly if you do not shop around for the best deal. This part of the segment is quite complicated, comedic insertions aside, so you would do well to pay close attention. To that end, you should consider the insertion of Kristin Chenoweth a study aid, rather than a distraction.

As in other shows, Last Week Tonight, that is to say, the show following the serious opening, featured two shorter bits. Often, they are entertaining and sometimes better than the main segment. No danger of that this time. They left me thinking, for this I missed the climax to the Perrys* on CBS? Well, that may not be such a bad thing. I am not all that young, and maybe my heart could not have stood the startling shock of seeing that Hamilton got the blue ribbon for best musical. Of course, I am kidding again. From all I have seen of it so far, Hamilton is an excellent show, which I plan to catch as soon as I can. By my estimate, that will be in repertory, sometime shortly after my 162^nd birthday.

* Named after Antoinette Perry, director of the original Broadway production of Harvey.

Last Week Tonight, HBO, June 12, 2016

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Thomas Cleveland Lane

Thomas Cleveland Lane is a semi-retired freelance writer for pay and a stage actor for nothing more than the opportunity to make a fool of himself. Well, he does get a small stipend from the Washington Area Decency League, after playing the role of Hinezie in The Pajama Game, to never, ever appear on stage in his underpants again. When he has not managed to buffalo some director into casting him, Thomas can often be found at his favorite piano bar, annoying the patrons with his caterwauling. Thomas is the author of an anthology called Shaggy Dogs, a Collection of Not-So-Short Stories (destined to become a cult classic, shortly after he croaks). He is also the alter-ego to a very unbalanced Czech poet named Glub Dzmc. Mr. Lane generally resides in Gaithersburg, Maryland, and was last seen in the mirror, three days ago.

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