Yes you are correct-A comfortable retirement may be more for the rich in coming decades. All you can do to be proactive is to put away what you can afford from your surplus income, and you may have a chance at a reasonably comfortable retirement. If you expect your government or employers to do it for you! well think again!
- Thread starter Expat13
- Start date
Lack of Retirement Funds will become a problem of Epidemic proportions for decades
Yes you are correct-A comfortable retirement may be more for the rich in coming decades. All you can do to be proactive is to put away what you can afford from your surplus income, and you may have a chance at a reasonably comfortable retirement. If you expect your government or employers to do it for you! well think again!
The net and media is now plaqued with "end of the world" preachings. Crash of the USA economy, the dollar etc etc.
Not to say there isnt a reason for concern, or signs of missing sustainable economic fundamentals.
One thing is clear- there are alot of people making money as "Armageddon Entreprenuers" predicting world failure crisis etc. and selling lots of books, ebooks and webinars etc.
As Buffet says "Crisis is opportunity"
This is an important observation.
Maybe the modern age ideal for 'retirement' is having enough income to make entrepremeurial endeavor more sustainable. Enough income to provide for basic subsistence while building a buisiness venture utilizing the lessons learned over the course of an entire career and quite possibly providing a job or two in the process seems to me what we need more of.
I'd never accept retiring to go and do nothing. I'd be dead in two months. It would be like the first matrix.
YouTube - perfect world Matrix
Ditto what Expat says. I can't believe all the crap that's on the net... let alone the daily spam I get... and that's just because I looked at a few sites. LOL
The proliferation of internet marketing is staggering. Whether they're selling a book, webinar, actual seminars in various off shore retirement locales, (some of you probably know which site I'm talking about), or whether it's just trying to skim a buck or two from pay-per-clicks... it's all clogging the information highway worse than Chicago at rush hour. LOL
It is not a big deal in the DR as it is in the USA or other countries,
In the DR a person's retirement investment fund is their kids and even grandkids sometimes.
And even when you have no kids your next door neighbour sometimes becomes your retirement fund. This has been going on for over 500 years, and there won't be any differences.
Now in the USA it is a big deal because in the USA you need much more to support your lifestyle, also many americans usually try to move as far away as posible from their parents or grand parents and instead of loving them and helping them they are seen as annoying and are dumped in a retirement home where they are mistreated by the staff or are left to fend for themselves in the house they raised their kids.
I heard and seen so many stories about senior citizens bodies found dead in state decomposition from nobody even knowing they were dead. That is also why there is also so much crimes against the elderly in the USA, just the other day in fox news i saw the report of a lady that is gonna be going to jail for a long time because she had kill a senior, burried him in the basement and had been cashing his social security checks for years.
And the sad thing is that I am willling to bet that he had far away relatives that probably never went to visit or as much as sacrifice 2 minutes to make a call to check up on him.
Let the children look after us when we are old
To a point I agree with you. This is a very Latin American attitude, and yes for 500 years, not just in the DR. However our company has 19 out of 33 international offices worldwide, in Latin America. It is by far our biggest market.
This said, there has obviously been a transition(which i have experienced firsthand) of the more educated, responsible, upper middle class, who feel that maybe they shouldnt burden their children, nor want to leave future to chance. As you said, not to the degree as the USA but as we know in many ways the developing countries try to pattern or trend in the direction of what is being down in the developed countries. Hopefully not in too many ways!
To a point I agree with you. This is a very Latin American attitude, and yes for 500 years, not just in the DR. However our company has 19 out of 33 international offices worldwide, in Latin America. It is by far our biggest market.
This said, there has obviously been a transition(which i have experienced firsthand) of the more educated, responsible, upper middle class, who feel that maybe they shouldnt burden their children, nor want to leave future to chance. As you said, not to the degree as the USA but as we know in many ways the developing countries try to pattern or trend in the direction of what is being down in the developed countries. Hopefully not in too many ways!
You are right, what is the name of your company? is it Edward Jones?
Gold
I have seen one of these lectures to. Also adds on TV ecouraging to invest in Gold. Maybe exactly the sign that gold has peaked or is expected to soon.
I have seen one of these lectures to. Also adds on TV ecouraging to invest in Gold. Maybe exactly the sign that gold has peaked or is expected to soon.
Gold is an option or you could buy a restaurant in Sosua after the season.
You could buy on the Dip!~!!
Educate yourself.
Read The Millionaire Next Door: Surprising Secrets of America's Wealthy
Follow the link and read some of the reviews on Amazon.
Google habits of wealth habits of poverty and start reading.
Get off your fat butt.
Read The Millionaire Next Door: Surprising Secrets of America's Wealthy
Follow the link and read some of the reviews on Amazon.
Google habits of wealth habits of poverty and start reading.
Get off your fat butt.
Yep gold looks like a strong buy at the moment, but $3000 is a long ways off and it's never good to put all your eggs in one basket. For longer term, copper-based stocks are suppose to do well too. It will take a lot of copper to wire the electric for China and India in the next 50 years and mines are becoming scarce. Last time I bought some copper pipe, it had gone up 2x since the last time I bought it. China is buying up Neodymium, and Lithium for the high-tech markets. Afghanistan has an insane amount of mineral wealth but that is at least 30 years away.