... take a good hard look at this page.
Bottom line: The US dollar is being inflated at 11-12% per year. What that means for your retirement planning is that something that costs $100 today will cost $310 in ten years, $965 in twenty years, and $28,900 in fifty. Is it any wonder the US savings rate is negative? Why save when the absolute best return you can reasonably expect is just keeping even with inflation? May as well have fun with your money while you still can!
If you are a twenty-something, don't bother to save or invest. You're just making other people rich with your money while depriving yourself of its short-term pleasure for no reason.
(And yes, I realize that 12% inflation is unsustainable for fifty years. But the economic tsunami that will hit the US when the current 30-year party ends will wipe out all those mythical savings just as effectively as 12% inflation. Damned it you do, damned if you don't.)
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