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Old September 8th, 2018, 01:40 AM
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Default Got A Pension? Don't Rely On It!

Got A Pension? Don't Rely On It!

Excerpt: In the US alone, federal, state, and local governments, pensions are about $7 TRILLION short of the funding they need to pay out all the benefits they’ve promised.

(** And that doesn’t include another $49 trillion in unfunded Social Security obligations…)

America’s private pensions are in bad shape too — a total of around 1400 corporate pensions are a combined $553 billion in the hole. Plus, 25% of those funds are expected to go broke in the next decade.

In 2015, the total worldwide gap in pension funding was $70 TRILLION according to the World Economic Forum. That is larger than the twenty largest economies in the world combined.

Are you reading those numbers? Read them again. Heard that state disability and medicare is also going to be on the ropes and out of money in the not-to-distant future.

The pensions are a ponzi-scheme because you continually need new bodies to add money to them. If there are less jobs (full-time) and less babies being born and less legal immigration then there is less money to put into the pension investment pool.

This is the non-stop growth model that requires constant growth in order to fund future retirements. If the money slows down or stops then pensions will run out and there won't be enough for future retirees... hence the new idea of Universal Basic Income or free money for nothing.

This model of needing endless growth is extreme and out of balance with what our communities can handle in terms of the bodies to jobs ratio as well as the bodies to natural resources ratio too.

If you have a pension it might be there. It might not. If it is you won't get what you were promised. You'll get a fraction of it.

You need to save money and diversify into hard assets; such as gold, silver, real-estate, water, food and supplies. Those simple things save lives in down times. Oh and this is not financial advice. It's an opinion.
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