Discussion in 'Economics' started by OnClose, Sep 23, 2013.
Poor guy... but unless you pound away the equivalent of a few million in todays dollars... this low interest rate deal will kill you.
That is how govt spending, inflation and an artificial low interest rate environment come together to screw the middle out of they life savings, their retirement and their dignity.
Their polices turn everyone into drones. The left is destroying people. Spending to the point of 700 percent inflation over 50 years.
So the savings you made for the first 30 years of your career amount to nothing unless you can outplay the bubbles in the market.
You have to put it all away all your savings in the last 10 years of work because inflation makes the rest meaningless. And if you have kids... the colleges will take away those earnings with their debt engorged tuitions.
Swapping out decades of work for a snap card and your vote.
compound interest at 5% for 50 years is 1100%
Should've saved more. Reverse mortgage.
+ 16.949 trillion...and counting.
First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he (Greenspan) was reappointed at successive four-year intervals until retiring on January 31, 2006 after the second-longest tenure in the position.
Bernanke then served as chairman of President George W. Bush's Council of Economic Advisers before President Bush appointed him on February 1, 2006, to be chairman of the United States Federal Reserve
I bet when he was at his highest position as VP of marketing for Oral-B, he never could have imagined where he would be at age 77.
Plenty of savings right there.
What does that have to do with this situation? He saved a measly $90k then lost a bunch of it in 2008, which had nothing to do with the government and everything to do with Wall Street and the banks. Nor did the fact that he made no plans for retirement have anything to do with government. Nor does the decision by businesses to no longer fund retirements.
This guy did it all to himself.
If I was a corporate man, i would give this guy a proper job, VP of marketing.
What a waste of experience!
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