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Each of us works for a different reason. Most of us have to work in order to have what to live for. We buy food, pay the bills, keep our children, pay for the treatment and, if it goes well, we buy gifts for ourselves. Don’t you buy? I don’t believe it. New amoled TV, new barbecue, new car, cool smartwatch. Does it tell you something? Have you ever wondered whether the money set aside for a new car should be used for retirement savings? Are you ready to do it. We assume, of course, that the old car still drives, has all the wheels and generally manages to go uphill.
It’s better to buy a new car and go on holiday than to think about what I’m going to do in retirement. That’s what most people who earn relatively well think. Unfortunately, they may be very disappointed with the pension they will receive from pension funds. Whether our money is managed by “professionals” from private funds or by our government for us, you can be sure that they are doing it wrong. Why? For the simple reason. Both the funds and the government are huge bureaucratic machines whose task is to survive until the next financial year. The budget has to close, the fund has to make a quarterly profit. There is a lack of long-term planning. Employees of funds and governments come and go and do not care what happens to our money. Is this reason enough?
Wealthy Pensioner was created for this reason. This topic is close to us, because we ourselves want to have a peaceful and reasonably prosperous pension. We would like your pension to be as pleasant as possible. Try to insert into the calculator your time of transition to retirement in 10 years. Now you can see what you need to do, how much you can save and how much you can earn to make your pension faster. It works on your imagination, isn’t it?
Here we get to the essence of saving. In order to save money efficiently, we need to be effective. 7% per year is not accidental. This is the average annual return on the American stock market in a very long period of time. Such a return on investment is satisfactory and allows you to multiply your money with difficulty. Do your pension funds give you such a return? I doubt it.
An additional problem is taxes and fees related to the management of our capital. We maintain a multitude of bureaucrats, managers, secretaries, presidents, directors. It does not make sense. The results of pension funds are disastrous. Few reach 7 per cent. After all, it is enough to buy shares and keep them for 20 years and we will have 7% of the annual average profit. That is true. You can do it yourself calmly. Of course you will have to pay capital gains tax. On the other hand, you may find that, despite this tax, you will still achieve a better result than state or private pension funds.
Read this article about inflation. This article shows that real inflation is much higher than government agencies state. Why is this happening? For a simple reason. By falsifying inflation data, governments can safely pass on their debt to citizens. If the average interest rate on deposits in banks is e.g. 3% and the official CPI inflation of 2%, everyone is satisfied, because the deposits bring some small profit. Think about what would happen if the public learned that actual inflation is 7 or 8%. People would very quickly start withdrawing money from banks. This, in turn, could lead to a run on the banks. In a situation where there is a partial reserve system, it could lead to the bankruptcy of banks and the collapse of the financial system. On the other hand, a situation in which inflation is higher than the real base rate, i.e. the interest rate on our deposits, leads to a slow impoverishment of the society. In this way, governments with the help of private and state banks pay off their debts. They repay them with our money.
You have to take matters into your own hands. Firstly, we must stop believing in what the governments and the media are telling us. Secondly, we need to start saving. Thirdly, we need to learn how to multiply our savings. That is why this blog was created. Let us stay in touch.
In the following articles we will present you with different methods of saving. We will also recommend companies or methods that we believe will lead you to the goal of a rich retirement. However, you have to remember about one of the most important things. You have to do it yourself. We will show you only the paths that are worth following.
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