Rich Retirees Are Hoarding Cash Out of Fear
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Rich Retirees Are Hoarding Cash Out of Fear
1–10 of 316 posts
Re: Rich Retirees Are Hoarding Cash Out of Fear
#2Just another way in which "the world is becoming more like Japan" (wrt to its demographic and economic woes).
(The generaltional wealth gap is such that corporations have been shifting product strategy away from the youth and towards the elderly)
Re: Rich Retirees Are Hoarding Cash Out of Fear
#3Fear? Seems more that there are simply no safe investments with decent returns, interest rates are abysmal. I think folks are 'hoarding' simply to not run out by the time they die.
Low interest rates are painted as great for the economy, but they amount to a war on savers and fixed incomes.
Re: Rich Retirees Are Hoarding Cash Out of Fear
#4Read "Sending Jobs Overseas" and it makes sense.
1. Their children and their children's children are competing with 100s of millions that they didn't have to. They are worried about them. There is no guarantee that the quality of life of their family will be like their own.
2. They are worried about destabilization that could occur as the west declines.
Re: Rich Retirees Are Hoarding Cash Out of Fear
#5 “We have to get people comfortable with enjoying their retirement and spending their money,” Fellowes said.
Re: Rich Retirees Are Hoarding Cash Out of Fear
#6> "As a result, millions of Americans are living too frugally"
WTF, really? Reminds me of Edward Bernays [1], the "father of public relations", who set out to help Americans become materialistic (and succeeded!).
If someone is enjoying their life without blowing all their money, that person is BETTER off. It's just corporations that want to suck the money away from them that need to "train them to spend."
Re: Rich Retirees Are Hoarding Cash Out of Fear
#7> "As a result, millions of Americans are living too frugally" WTF, really? Reminds me of Edward Bernays [1], the "father of public relations", who set out to help Americans become materialistic (and succeeded!). If someone is enjoying their life without blowing all their money, that person is BETTER off. It's just corporations that want to suck the money away from them that need to "train them to spend." [1] https:/…
Way to take down that strawman.
Re: Rich Retirees Are Hoarding Cash Out of Fear
#8“We have to get people comfortable with enjoying their retirement and spending their money,” Fellowes said. Implying that the only way to enjoy retirement involves spending money
I'd be comfortable 'spending my money' in a future retirement if the retirement could generate decent passive income. As it stands, though, it's looking like many folks like me will have to work until we die and/or save enough to burn with just living and healthcare costs.
Re: Rich Retirees Are Hoarding Cash Out of Fear
#9> "As a result, millions of Americans are living too frugally" WTF, really? Reminds me of Edward Bernays [1], the "father of public relations", who set out to help Americans become materialistic (and succeeded!). If someone is enjoying their life without blowing all their money, that person is BETTER off. It's just corporations that want to suck the money away from them that need to "train them to spend." [1] https:/…
> If someone is enjoying their life without blowing all their money, that person is BETTER off.
And that's where the entire FI concept of "knowing when you have enough" comes in.
Re: Rich Retirees Are Hoarding Cash Out of Fear
#10Fuck. I'm 30, and I just went through this. I quit a bad job to try to do my own thing; after a few months without a paycheck - despite having plenty of saving six ways from Sunday - I clammed up almost completely, not wanting to spend a dime. I was miserable. It's the same feeling as item hoarding in CRPGs.
Seems like I either need to never retire, or set up a trust for myself so I have a guaranteed allowance. (Or deal with the implicated fear....)