#1 — Don’t save for retirement
Clarey — who blogs as “Captain Capitalism” — writes:
In 2008 Argentina stole the private pensions of its workers, nationalizing those funds to deal with their own debt problems. Bolivia did the same in 2010, as did Hungary. And Bulgaria did their own scaled-down version of confiscating people’s private pensions in 2011. (…)
Unfortunately, the Democrats took note of what Argentina did in 2008 and have since bantered around ideas of rescinding the tax benefits of those programs, even outright nationalizing them.
Until very recently, the whole notion of retirement didn’t even exist.
Then governments decided to curtail restless citizens’ revolutionary sentiments – in Germany, America, and elsewhere – by doling out goodies such as old-age pensions.
Of course, 65 was chosen as the retirement age because few people lived to be older than 65 anyhow.
In other words:
No one was ever even supposed to collect this money!
Private- and public-sector pensions are unsustainable Ponzi schemes.
Retirement is a fad. Having a retirement plan is like having a “hula hoop plan” or a “Charleston plan.”
Clarey and I agree: the government is going to seize your savings, assuming you have any left come seizure time.
Clarey “jokingly” recommends the “Smith and Wesson Retirement Plan,” i.e., suicide.
Like him, I don’t see the point in saving money your whole life just so you can bankrupt your family trying desperately to stay alive for the last six (crippled, diaper-wearing, mush-eating) months of your life.
While I’m not prepared to go as far as Clarey (yet), it’s true:
My retirement plan is death.