Reflecting
I went to a burger joint with a friend for lunch. We hadn't seen each other in a few years and had a lot to catch up on. I miss the days when I could eat a burger or two for lunch. That's been a while now though. I have to keep it a little more reasonable now. Hey, salads are not only good for you, they can be tasty too!
I was reading an article on Yahoo about how 40% of people will run out of money for retirement. One of the main points of the article was: "Only 58% of Americans have any retirement account — either through their employer or an individual one." Since retirement accounts are a tool used by many (most?) of people, it's alarming that almost 3 of 5 people haven't even started preparing for retirement.
The other thing I found intriguing about the article is the talk about the SECURE act which is legislation being considered that would make it possible for small employers to offer retirement accounts to their workers. This would provide approximately 45 million people with access to retirement accounts. Would this be a good thing though?
The stock market is near all-time highs right now. That means the people any people who open their retirement accounts for the first time would be starting their investing at what is likely the peak of the market. The current levels are tenuous at best and the influx of extra cash from investors could help prop up the market, but could also be devastating for the new investors.
I'm still betting on the purchasing power of physical silver and gold to outperform the market for the foreseeable future.
What are your thoughts?
Not investment advice. Do your own research.
Sounds like a perfect scheme to use Tax Payer money, give free to people who have no retirement savings, to fund the stock market as to keep prices up so the banks can extract millions of dollars in fees based on those asset values.
You're getting the idea!