Lack of Retirement Funds will become a problem of Epidemic proportions for decades

Expat13

Silver
Jun 7, 2008
3,255
50
48
Lack of Retirement Funds will become a problem of Epidemic proportions for decades possibly Generations. Thats scarey!
As is my profession, (Investment Advisor) I constantly stay up on Industry news as well the cause and effect.
Apparently 33% of Americans have NO Retirement Savings-The less developed nations, like here, the numbers are too shocking to report. If you're one of the smart/lucky ones who have a plan, or company provides one-You need to increase your contributions by at least 1% per year.

Todays recommendations regarding what we should invest, are; If your in your 20s then 10%of gross income-if 30s then15% of gross--40s then 25%, if 50s, you better get agressive and hope for the best, unless you've had great successes.

Sadly this important concept is usually dismissed all together or put behind the purchases of fancy cars and weekend getaways.

Nothing worse than seeing people who have worked hard for 45 years, living in poverty during the later years in life. Myself and girlfriend always give our leftovers and pocket change to the unfortunate ones, living in the streets!

For those who may be asking, yes, I am a paid advertiser on the dr1.com

St. James International Independent Investment Brokers - Investment - Santo Domingo, Dominican Republic.
 
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cobraboy

Pro-Bono Demolition Hobbyist
Jul 24, 2004
40,964
936
113
Not to pile on, but for many years folks have depended on their home as a part of their retirement protfolio. And current values have cratered creating all sorts of problems.
 

Expat13

Silver
Jun 7, 2008
3,255
50
48
Not to pile on, but for many years folks have depended on their home as a part of their retirement protfolio. And current values have cratered creating all sorts of problems.

Hi CB,

Back in the day I specialized in Real Estate Investments in Canada-know that biz quite well.
The typical real estate investor prior to 2007, felt they stumpled upon the guaranteed, tangible, no lose investment. Then with paper gains leveraging equity for the next property, and next, and maybe even a Jeepeta or holiday, and now sadly they are broke with no credit.
Certain basic strategies do not change, and diversifying your portfolio is one of them. Real Estate is a non liquid asset. If one were to retire tomorrow during a real estate downturn or crisis, you would lose a fortune, if, you could sell in a timely manner. And if it took a year to sell, what would one live on until it does?
 

Criss Colon

Platinum
Jan 2, 2002
21,843
191
0
38
yahoomail.com
I Don't Know To Whom Your Advice Is Intended???

But,if it is the "Average" Dominican,"He Ain't On DR!"!!!!
If it is the "Expat Community", If we ain't got it by now,we sure ain't gonna get it here!!
If the US Government survives,I will Too!
Cris Colon
 

peep2

Bronze
Oct 24, 2004
581
16
38
"If the US Government survives,I will Too!"

Thats the big question! We've already seen the "too big to fail" theory sorely tested.
 

beeza

Silver
Nov 2, 2006
3,479
731
113
If you're dependant on the US Dollar, then it could be a cause for concern.

Just Google the phrase "US Dollar reserve currency" and see what you get.

Many financial advisers are predicting the fall of the USD as a reserve currency. For example China is the largest holder of USD. If they decide to go with the Yuan or even Yen, America is in trouble. As soon as the method of buying a Barrel of Oil changes from the USD, watch out!

I watched an hour long online lecture about this, but for the life of me, I can't find it. At the end it recommended investing in precious metal such as Gold & Silver. At the moment Silver is de-moneterised however in times of financial crisis it then get pegged at roughly 1/16th the price of Gold.
 

Contango

Banned
Dec 27, 2010
2,196
5
0
Hi CB,

Back in the day I specialized in Real Estate Investments in Canada-know that biz quite well.
The typical real estate investor prior to 2007, felt they stumpled upon the guaranteed, tangible, no lose investment. Then with paper gains leveraging equity for the next property, and next, and maybe even a Jeepeta or holiday, and now sadly they are broke with no credit.
Certain basic strategies do not change, and diversifying your portfolio is one of them. Real Estate is a non liquid asset. If one were to retire tomorrow during a real estate downturn or crisis, you would lose a fortune, if, you could sell in a timely manner. And if it took a year to sell, what would one live on until it does?

We are at the top of the market here in the big cities for Canada, time to cash out, and buy something small in a lesser market, rinse and repeat, that's all...
 

dv8

Gold
Sep 27, 2006
31,266
363
0
i'll be honest. old baggy lady in a woolen hat and dirty sneakers pushing a shopping cart full of rubbish - that will be me in the future. i have never been "working hard" type of a person. i have no profession to speak of, no ambitions and i hate work.
 

greydread

Platinum
Jan 3, 2007
17,477
488
83
i'll be honest. old baggy lady in a woolen hat and dirty sneakers pushing a shopping cart full of rubbish - that will be me in the future. i have never been "working hard" type of a person. i have no profession to speak of, no ambitions and i hate work.

Have you considered politics?

You don't need to work very hard or for very long to log into the best pension plan since the railroads went bust:

Congressional Retirement Benefits-Too Generous?

There are two kinds of people in the world...those who put in and those who take out.
 

dv8

Gold
Sep 27, 2006
31,266
363
0
i have thought of politics but sadly i suffer from severe verbal over honesty.
 

SKing

Silver
Nov 22, 2007
3,750
183
63
All of my money goes to my kids, I have no savings. I just pray that they will return the favor!

SHALENA
 
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Expat13

Silver
Jun 7, 2008
3,255
50
48
We are at the top of the market here in the big cities for Canada, time to cash out, and buy something small in a lesser market, rinse and repeat, that's all...

Yes timing the market correctly, whether it be Real Estate , stocks, bonds etc. is a fabulous way to make money. Downside, even the best of the best Analysts are far more wrong than right.

The USD threat is definitely a discussion in itself and debatable. Basic fundamentals show the currency is and has been due for a correction. I believe the delayed reaction preventing/prolonging this, the second go to currency that is also very liquid worldwide(Euro) has such an unstable climate within many of their smaller countries.

Precious metals, i love them in funds and ETFs but its hard to believe that gold bullion will replace notes. Rotchilds need to approve that one!lol
"Give me control of a nation’s money and I care not who makes the laws.” Mayer Amschel Rothschild.
Actually well over 18 months ago there was a soft launch of what is said to be the next world currency(global currency) called "Wocu" (World Currency Unit), its a derivative of the exchange rates of the world’s top 20 currencies as measured by GDP. It is re-weighted by an independent institute every six months (when the IMF releases its GDP figures), this causing less volatility.
My guess on its slow rise is it seems strongly connected to the evolution of a New World Order...I prefer not to get into conspiracy theory talk-so over and out!
 

Expat13

Silver
Jun 7, 2008
3,255
50
48
All of my money goes to my kids, I have no savings. I just pray that they will return the favor!

SHALENA

Only concern, what if your kids end up having the same plan as you?

The way things are going our children could have their hands full already.

It sure is a nice thought though!
 

Manzana

Member
Jan 23, 2007
229
20
18
Pensions and Social Security

The last few decades with significant numbers of people able to retire came courtesy of pensions and generously increasing social security benefits. No significant fraction of the population has ever retired on savings and investments anywhere in the world. It is dangled as a theoretical possibility if everything goes right.

As people with pensions and generous social security benefits gradually die off so will "retirement".

Having enough to live on without working will return to it's former label:
"being rich".
 
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mountainannie

Platinum
Dec 11, 2003
16,350
1,358
113
elizabetheames.blogspot.com
I think this may be why the idea of offshore retirements are becoming increasingly popular.. the idea that one could have a middle class lifestyle on $1500 or lower. Even if your home or condo is paid off in the States, the taxes and costs can be very high and eat up a large portion of a fixed retirement income. Ditto health care costs. The dream of going to an Adult Community.. or even Assisted living.. is becoming an option only for the upper echelons......
 
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dv8

Gold
Sep 27, 2006
31,266
363
0
i agree with MA. an american or european pensioner may live better life here. in addition to pension they may also get some money for renting their property in home country (if they have one) and thus live even more comfortably.
 

Mr.smith

New member
Mar 8, 2011
67
0
0
lecture

the hour long lecture you're talking about is called endofamerica60.com. this 1 also said to invest in gold and silver at the end. let me know if this is the same lecture you watched.

If you're dependant on the US Dollar, then it could be a cause for concern.

Just Google the phrase "US Dollar reserve currency" and see what you get.

Many financial advisers are predicting the fall of the USD as a reserve currency. For example China is the largest holder of USD. If they decide to go with the Yuan or even Yen, America is in trouble. As soon as the method of buying a Barrel of Oil changes from the USD, watch out!

I watched an hour long online lecture about this, but for the life of me, I can't find it. At the end it recommended investing in precious metal such as Gold & Silver. At the moment Silver is de-moneterised however in times of financial crisis it then get pegged at roughly 1/16th the price of Gold.