Given the judges' willingness to forgo paying investors in favor of pensions, even "safe" investments like bonds are not guaranteed.
Andy
Given the judges' willingness to forgo paying investors in favor of pensions, even "safe" investments like bonds are not guaranteed.
Andy
Last edited by AndyLate; 09-17-20 at 13:10.
Ding ding ding! This is what I'm driving at.
Sure, big-name companies like Schwab and MetLife are probably at little to no risk of that. That said, I am a glass-half-full kinda guy, a pessimist. To become accustomed to X amount of $$$ each month in retirement, and then a sudden catastrophic economic hit occurs and you get a "Sorry, we filed bankruptcy" letter, would kind of make me start looking up designs for a killdozer. Of course by then I'd probably be too old to do it!
11C2P '83-'87
Airborne Infantry
F**k China!
Bernie Madhoff committed the largest Securities Fraud/Ponzi Scheme in modern history and was responsible for 64.8 Billion in losses.
I'm pretty sure Bernie was telling Steven Spielberg, John Malkovich, Kevin Bacon and Jeffery Katzenberg not to worry, they were all covered and not to worry, guaranteed income for life.
If you look at it, it is all a bit of a Ponzi scheme and there are no guarantee's. Stay in the game as long as you're winning or can't take the pressure, then GTF out.
I run from anything with annuity in the title. You need to hire an adviser that doesn't sell annuities.
The Second Amendment ACKNOWLEDGES our right to own and bear arms that are in common use that can be used for lawful purposes. The arms can be restricted ONLY if subject to historical analogue from the founding era or is dangerous (unsafe) AND unusual.
It's that simple.
Can’t speak to the guarantees part of the equation, but I’d be super careful about the tax liability side of things.
Sent from 80ms in the future
This is easy, if anything was guaranteed and always worked...everyone would know about it and would already be doing it.
Investments of any and all forms are nothing more than sophisticated gambling. It can at any time all go wrong, you can get Ponzi'd and Madoff'd at any time. You can lose EVERYTHING because something unexpected / unprecedented happened and the small print essentially says "So sorry...if we lose...you lose."
In our lifetimes, even if you remember WWII, nobody ever saw kids essentially take a year of school off. It never happened...ever. If that can happen...anything can happen.
At least in Vegas the drinks are usually free and often come with a lap dance. Anything that is actually a LOCK is viewed as insider trading and frowned upon. Are there things that are historically safe and all that...sure. But historically they never shut down society for 6 months.
It's hard to be a ACLU hating, philosophically Libertarian, socially liberal, fiscally conservative, scientifically grounded, agnostic, porn admiring gun owner who believes in self determination.
Chuck, we miss ya man.
كافر
It is said that Annuities are for dependents of the wealthy that can't be trusted with the principal. For that purpose they make a lot of sense.
Dennis.
Last edited by Dennis; 09-18-20 at 02:09.
My parents that were fairly successful in life, hated life insurance with a passion and never had any.
The reason was that both my grandfathers died from stress related things stroke and heart attack, during the depression. So for the families things went from bad to worse. Both of my grandmothers said don't worry we have this life insurance and it will help us. When they went to cash in the policies both companies had gone bankrupt, so all they had was a worthless policy.
My investment thinking is like this, in a nation that is $26T in the hole. Trust no company or institution. Depending on how much money you have I would look at 3 different paths. 1. Learn the stock market and invest in it. But not in the traditional buy and hold. Learn about Trend Following and use it to limit your downside and help your upside. 2. Physical investments, gold,silver and real estate. 3. Diversify your investments geographically. Meaning look for opportunities outside of the USA. This is not an anti USA position, rather an anti Congress position.
We do not live in normal times, which means your thinking has to develop beyond the traditional view of retirement. Become a Jew in Europe in 1938, that can see the evil coming and looks for greener pastures.
The will of Congress to address $26T in debit, just is not there. It will bite the country at some point in time. When it does, starvation will happen in the USA.
So in a word, no. This style of investment is not for me.
Bookmarks