It is important to choose the right year to be born in. In Europe and North America, you have to give credit to so-called Baby Boomers for choosing to be born between the end of World War II and 1960.
Today Baby Boomers might be fairly close to death but at least we really lived when the gettin' was good. In fact I think we experienced peak freedom, peak education, peak female attractiveness, peak mobility, and peak prosperity.
There were some setbacks along the way. Case in point is the decade of the 1970s. Still, we caught the last decade or two of Good Times in America: lucrative corporate employment -- stability, pay, pensions, and benefits. We were even able to retire early.
But with raging inflation, how will young people be able to retire early from now on? Look at the risks they will be running! My (Baby Boomer) age group could invest during a long bull market on Wall Street. Do you really expect a replay of 1980 -2020 on Wall Street?
We still could look forward to Social Security. A young early retiree today must face the fact that the Social Security cost-of-living adjustment will fall behind real inflation by several per cent per year, for years: 0.95 raised to 25th power is 0.28 .
It will be increasingly hard to just coast along, drawing low interest from a bank account, and still have meaningful capital when you retire. Retirees will be forced to become speculators. Without successful speculation, 'guaranteed certificates of confiscation' will destroy their retirement dreams.
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| from dwdsreviews.blogspot.com |
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