Some great advice here. 

Can't be arsed watching for 42 minutes.

2 minutes ago, KannikaP said:

Can't be arsed watching for 42 minutes.

 

You don't want to learn how  to protect your retirement by buying BitCoins?    ????

This was made in February 2020. Didn't watch it in full but tried to get the gist of it. He says pensions unfunded. The S&P 500 achieved a record closing high of 3386 on February 19, 2020 around the time of this. It is now 4,791 or 41 per cent higher. So pensions will be better funded. He says property market would be stable or go go down. Wrong. He says tech stocks overvalued. They have increased significantly since that time.

Maybe his points are a ticking time bomb for the future. Who knows. 

I have a defined benefit thanks to being an older public servant but most from about 2003 in Australia are not - you just pick your investment and what you get is what you get. So it's not a big problem here. 

14 minutes ago, KannikaP said:

Can't be arsed watching for 42 minutes.

Well thanks for telling us. 

Don't worry too much, as most won't need it, and why pension funds are underfunded.  But yes, your pension should be guaranteed or underwritten by a dependable source.

 

Mine, company, NWA (bankrupt) was with the IAM union, not the NWA, even though the checks are written by DL, who 'merged' / bought out NWA.  Bankruptcy courts should protect the workers .... IF ...  the workers protect the workers.  Some unions (UA) invest (voted to) their pension in with the company, specifics I don't know, so can't comment.  But apparently worked out good, as still around .... so far.

 

Back to my 1st statement, why underfunded.  One of our union / supervisor (me) meetings we had an investment speaker from IAM, and here are the sad facts of retirement check disbursements for NWA / IAM workers at the time.   18 months, that's all, on average.  My job classification ... 11 months.

 

I've been retired for 20+ yrs, but at 46.  Apparently average life span of a retiree from NWA / IAM member was shy of 67, depending when born, about 18 months after retirement.????  Been getting my pension for about 10+ yrs @ 56% as I think it was 4% a year if taken early.  If I live past 75 it was a bad financial decision, not that I need it. 

 

Beat the odds already, as just turned 67 (senile as posted 68 before ????) and one year in on USA Gov't Soc Sec.

 

So if I <deleted> out tomorrow (stop cheering), it shouldn't be a surprise as meeting some bean counter's expectations.

 

Life expectancy when born in 1954 is ~74 - 78.9, parents made it to 69 & 74 (born 1922/28), but stone alkys & chain smokers.  I do neither.

35 minutes ago, In Full Agreement said:

 

You don't want to learn how  to protect your retirement by buying BitCoins?    ????

And what when the value of BitCoins drops as it has done recently. 

1 hour ago, KannikaP said:

And what when the value of BitCoins drops as it has done recently. 

What do you mean recently? 

 

It is down a bit from last night, but up 100% since a year ago. 700% since 2 years ago. 7,000% since 5 years ago, etc.

 

Raol Pal is wiser than most  probably why he lives on the Cayman islands and we live in Thailand

 

I advise listening to this - 

 

 

 

Is anyone else wondering who NWA, IAM, DL and UA are?

Most pension funds(private or public) have disclosure requirements:  1) Asset Value 2) Asset Allocation 3) Annual Return 4) Expenses  I monitor these factors on my pension fund on a regular basis.  So far so good( 7%+ annual return for the last 4 years).  I hope it  stays strong and viable for at least the next 20 to 25 years(I hope this is how much time is left in this life?).  

42 minutes to state the obvious!  ????

I bought my house at 29 knowing that it would fund partially my later life. I get a about 50,000 a month from it now from a great and happy tenant on its own (he knows my town is 60,000 baht for same property elsewhere), add to that my company pension and a state pension in 8-9 years and my retirement is pretty much ok (long as me tenant does not burn the house down).

 

My family and myself do not need mega money to be happy. At 67,I should be getting about 90-100,00k a month without mad bitcoin and worrisome stuff.

 

Pensions and retirements are about planning well in advance, not a mad rush at the end - for me anyway

 

 

 

 

 

21 minutes ago, RichardColeman said:

I bought my house at 29 knowing that it would fund partially my later life.

I did that too, house was worth 600,000 pounds.

Sadly my wife got it 100% in the divorce, guess I should have remained single.