For rigorous mental exercise, I like to think up ways to survive financially without being messed up by stupid people or myopic governments. Then my synapses short out and I come here for some intelligent answers.
I was sobered then, by Michael Hodges's essay on how interest rate cuts are jeopardizing the income of seniors. Can you imagine being a good little saver for forty of your working years then:
* the interest rates are cut, along with your spending power;
* taxes are raised, so your 401(k) has a huge tax bite;
* having to move somewhere colder because the "hot places" are priced way, way beyond affordability thanks to cheap credit, then shelling out large amounts of money because heating fuel costs grow at 6% a year;
* living in a country with a devalued currency, when your prime earning years had you thinking you were in the land of milk and honey?
What are your precise, well-described ways of protecting your retirement assets against myopia, greed, and legislation stupidity?
Question of the day
March 29th, 2007 at 02:49 pm
March 29th, 2007 at 03:52 pm
savings in a low interest paying savings account, he/she will be making a big mistake. Low interest rates also help the housing market. This article seems a little stilted.
March 29th, 2007 at 04:02 pm
March 29th, 2007 at 11:08 pm