Posted on 10/15/2021 12:07:13 PM PDT by ChicagoConservative27
Better double that in your mind.
I hear you. Was contemplating doing that at 55 in a couple of years. Now I worry if all I saved will be wiped out and I will never get to retire.
It should in most of the country considering median HH income is ~$6k/month and is still paying mortgage/rent. $10k a month with a paid off house you can travel the globe several months a year in most of the US.
Well if bonds and CDs were yielding 7-12% you may not care as much but at 0-2%....
Just make sure to invest in inflation hedges (large caps, international, real estate - (eg: fundrise or rentals). If you keep all your money in retirement in cash you are asking for it.
$500 is what I remember.
Maybe the goal is to keep everyone poor so they’ll be more willing to take the Mark of the Beast during a Global Reset?
/Shiny side out
I am well diversified, but that doesn’t stop me from worrying if there is a complete dollar collapse and it is no longer the reserve currency of the world, which could happen if we keep devaluing our debt by limitless printing.
If that happens:
-stocks are worthless
-cash is worthless
-Property would have value, but COVID opened my eyes that property rights will be tossed out the window in a collapse.
-International could collapse as well, or simply be taken during a major economic “earthquake”.
-Gold could be confiscated (worthless also if not actually held).
-ETC.
I am more than mildly worried about this at this time. Since about 80% of the population has almost no real savings, they will not care what the politicians do in regards to savers/investors like myself.
You really think other countries are in better position than the USD? Who is going to be the reserve? LOL Stocks are not worthless in a devaluation scenario (they do lose real value but hold up fairly well - especially larger companies better equipped to handle inflation), nor is Real estate. You are actually worried about civilization collapsing left tail event - guess what - whether you are retired or not the result is the same - so you may as well enjoy retirement. You won’t have a job in the scenarios you outline either way.
I was involuntarily thrust into retirement (as were most people of a certain age in my office) when Covid hit. I’m glad to be out of the rat race, but I feel like I’ve fallen out of the frying pan into the fire. Groceries are so high, I’m having difficulty making ends meet. Seemed to be okay until recently. I drive for Doordash with a Prius, so that helps a bit, and the Prius keeps gas prices down. But I can’t get out of the grocery store for less than $40 on just little things.
The Democrat party and the political establishment are doing an excellent job of red-pilling America.
Exactly. The govt can’t afford to let rates go to normal levels because 100% of taxes would be used to pay interest on this insane debt.
We are hosed with high inflation and almost zero bond rates.
Hate to be picky, but...
Don’t discount the globalists creating a new global reserve currency to destroy western boarders once and for all. Backed by the Chinese military instead of ours.
Try about $2000 instead. How in the world could a working person have a retirement fund of $10000/ month ?????
Have you not been paying attention to Chinas issues recently? chinas not exactly hot these days - markets are way down and property developers are deep in it
It's easier than you think...for a couple. Two regular retirements, a National Guard retirement and two Social Security incomes.
My youngest brother could have had four years of college paid for, but instead chose a life of drugs and alcohol. Now in his 50s he changes tires for a living. He told me his retirement plan is death or disability. He lives paycheck to paycheck, with zero assets to his name.
I’ll say one thing. I like your confidence that nothing bad will ever happen economically here. I think you are wrong, but I will be happy if you are right.
Note: this is not to say we may not see a significant pullback in one or two major asset classes or heavy inflation in the next 5, 10, 20 years. You should look up the 4% Safe withdraw rate with 60/40 or 70/30 stocks/bonds - has never failed in a 30 year period in the US in 120 years - even though the great depression (adding in real estate further buffers that).
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