Long time ago I looked at retirement and realized that you have to get to retirement to retire and there were at least 5 decades to get through first. I went to the financial planners, etc and the advice was all similar. The problem was that the amount that I was supposed to save was larger then the amount that I had left after paying the basic bills. You have to get there to retire…
Then we had the recession of the 80’s and I did not lose my house but I did clean out my retirement to provide for my young family.
Watching this current crash coming I sold that house, I liquidated my retirement out of range of the impact and yes I paid the penalties. Compared to many of my friends I retained more of my savings. You have to get there to retire…
I have learned and today’s economy confirms to me that only a fool invests in non-tangibles.
If you do not own something physical you are gambling. There is no difference and just as with any casino the house wins or the house fails. Yes, you could lose the tangible; however that usually occurs because of something that you did rather then someone doing something to you! There is always a risk to life.
At age 50 I have seen the common investment system falter or fail twice in my working lifetime. I have friends that have investments that are now worthless, thus they now have retirement funds that equal my simple savings account. That has to sting.
I have no illusions of ever being able to retire; I never planned on it, nor do I want to!
I will not deliberately put a dime into the stock market gambling machine; unless I want to gamble, not invest. What then besides real estate (which I have yet to lose on) and a savings account at my LOCAL bank will provide a relatively safe stable and sustainable return?
posted 4 years, 2 months ago
view in context