Are tons of people going to lose their pensions due to the current events?
It's a possibility, and probably a good one at that. But the thing about the future is "you never know".
I know the future. There are going to be a lot of geezer looters scrambling to steal from someone else to care for them in their old age.
I recommend everyone invest in my "Walking Stick Self-defense" and "Wheelchair Bully avoidance" courses.
If you find something evil that wobbles, push it. - Gary North
There's also the question about a 401k account. I was reading Conquer the Crash by Bob Prechter. He mentioned the fact there are strings attached to the benefit of having your money sheltered from taxes. If things get really bad, the government, in desperate need of funds, could decide to raise the early withdrawal penalty of 401k's to 100%. Then they, "for your own good", place your funds in long term government bonds and seize your account.
Ergo,
Invest in gold and silver coin and shotgun shells.
The endless "account" schemes drive me nuts. The documents establishing these plans can be up to a 100 pages long, not to mention the statutes, regs, and agency and court decisions. That's your big tipoff right there: no way something that complicated can be good. Whenever I hear some talking head going on about them I wish I could grab them by their lapels and scream, "Just cut taxes! Stop printing money!" until they collapse or I collapse.
Byzantine:Whenever I hear some talking head going on about them I wish I could grab them by their lapels and scream, "Just cut taxes! Stop printing money!" until they collapse or I collapse.
This may be one of the best quotes of all time. Tu Ne Cede Malis is outdated anyway!
Trianglechoke7: Are tons of people going to lose their pensions due to the current events?
Only if the company that is providing their pension goes under. That's a contract, not an investment.
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