Quote:
Originally Posted by manaboutown
I just happened upon this incredibly researched and well written book. Although it is slightly dated (2012) it was an eye opener for me and I have been around the block a few times during which I was kicked to the curb upon occasion. Although I survived and even thrived a lot of good luck was involved.
The title of the book is "Pound Foolish", its author Helaine Olen.
One caveat: It is written from a woman's perspective; the author leans to the left and is strongly opinionated. So, take what you like and leave the rest.
"Desperation, fear and insecurity can be a salesperson’s best friend. Ms. Olen learns how lucrative it is to sell financial services to the elderly, many of them terrified of outliving their savings. A 2009 AARP survey found that nearly one in 10 people over 55, or about 5.9 million Americans, had attended a free financial seminar in the last three years.
At the World MoneyShow, an annual event in Orlando, 80 percent of attendees were over 55. The author writes that “a panicked baby boomer is their best customer.”"
From: ‘Pound Foolish’ Eyes Problems of Personal Finance Advice - The New York Times |
Aaah - but times are not what they used to be ... even if one considers 2012 "recent". We are DEEP in uncharted territory. MASSIVE government and personal debt, rise of nations (BRICS, EU, Eurasian Economic Union, ASEAN) and the breakdown of society (WEF, UN, Bilderberg, woke this and that, crime unpunished, elected leaders can't define a "woman", etc). In my opinion, if you plan to live even 5 more years, you better plan for a way to survive when money fails. That's right. The US dollar is being destroyed. It's destruction will be complete in very short order. The massive US debt was only possible when other nations relied on the US dollar. Reliance on the US dollar by other nations is being whittled away almost daily now. Like approaching a cliff, the drop in buying power will be sudden and catastrophic. Once you see it happen, it will be too late to do anything about it. Better to see it now. What will you do when any money you have will not buy what you need? When you can't buy food ... water ... electricity ... What will society look like when money stops working? What will the criminals today do when they have trouble eating? The path we are on is unsustainable. Anything unsustainable will come to an end. No financial advisor or investment group can help you or anyone with this dilemma. No leaders can fix the problems any longer. There aren't enough rich people to tax. We are well past the point of no return. If one thinks things will just go on as they always have, they are mistaken.