[quote=skeptic1;1100736][quote=Americano;1100703] "I wonder what America's youth is doing just standing by as their economy and currency declines in their most productive years. I read further and there it is, they're all depending on 401k and other controlled equity investments in markets that have a 5% historical ROI for the little man. Pretty sad".
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I enjoyed reading and agree with your analysis of the road we travel and where it can end up.
The die is cast in my case and what remains is concern for the bulk of our population "still living" and lacking the fundamental awareness of future needs or resources to arrive at a satisfactory reirement.
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I'm in the same chronological status and position of curiosity. I say curiosity as there's no empathy from not experiencing the same circumstances and my sympathy level is sustained by volunteering to assist the truly disadvantaged. While every generation often belittles succeeding generations (I do feel I had the very best of the US in the latter half of the last century), conditions have dramatically changed in our economic structure.
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One way is of course is to amass enough money and place it in the safest possible spot to draw interest that regardless of inflation and passage of time will be adequate for ones perceived needs. Not fool proof and extremely difficult but but affording comfort and less strain. (Still dependent on a financially stable government to cover catastrophic loss such as major health problem costs and bank failures)
Another requires an accumulation of risk capital for investment in the market used in such a fashion as to arrive in the same position as the first illustration without the protection afforded in respect to C,D s in banks on the way there.
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Agreed, but working for a living is now seemingly the most common form of employment in a time of high inflation, declining wages and excess consumerism, allowing only a very few the necessary circumstances to accumulate assets and risk capital necessary to fund a comfortable retirement.
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From reviews of IRS reports on income brackets each year it is hard to forecast the possibity of more than just a few of the young who will be successful in reaching either of the goals illustrated above considering the moves to exclude many "company" benefits from the menu including shedding retirement plans through mergers and bankruptcies and the exporting of American jobs and importing of cheap labor.
Not insurmountable but it will require some extreme sacrifice IMO to get there.
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IMO only the ones who inherit adequate personal wealth and those who completely distrust what has evolved into an entirely self-serving government and plan accordingly will make the cut.
A few months ago I read analysis on the financial status of the baby boomer retirees. The bulk do not have the means to fund their own retirements and their opportunities to accumulate capital were during the very best period of US prosperity. What lies ahead will require enormous sacrifice for them, their children and a defined change in the system of US government.