Your Retirement Pension May Be In Trouble. Pension crisis coming as The California Public Employees’ Retirement System ( CalPers ) reported a loss of more than 6% last fiscal year, its first negative investment return since the Great Recession, the state pension fund said Wednesday.
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I get it, invest in safe heaven assets cos profit level usually drops in these times, but I cant help but read up and watch articles of people that were still able to pull up heavy profit of up to $500k within a few months and I'd like to know how they did it.
When it comes to investing, setting aside funds for investments is a smart way to prepare for the unexpected. Been into this experience since 2016 and have acquired over 2M dollars.
The pension issue is one of the toughest topics to convince the older generations of
The wisest thing that should be on everyone's mind currently should be. To invest in different streams of income that doesn't depend on government, Successful people don't become that way overnight. especially with the current especially with the current economic crises around the world. I pray that anyone who reads this will be successful in life.
Baby Boomers become Baby Kaboomers
They’re probably coming for the retirement money or the entitlements, yeah. That’s kind of the choice we’ve arrived at.
Both parties really ducked it up from no return republican duck it up and democrats tryed to fix it not this time around
I wonder who will even have any money to pay the rents when the crap really hits the fan. People can’t even pay their phone bills right now. Makes me wonder If I should focus on swing trading instead of getting rentals and dealing with the headache of tenants…
The amount of verified information you bring is tremendous.. <Bitcoin continues its wild swings between $19-21.5K the market dynamics of the last few days indicate that the whales are making some big transfers of bitcoin from one pocket to another. <Either this is an attitude of speculation in the range or whipping up froth to attract capital from retail investors who may feel that the low point has been passed. <Additionally, the 2022 volume profile is very thin, between $32-$37k if bulls want to send a message to the market that a new uptrend is about to begin, then they will need to push Bitcoin price to a daily close near $44k. <Macro factors are demanding further downside, as the impact of inflation and geopolitical strife is clearly felt on equities markets. Until BTC reclaims the key moving averages these are considered distribution rallies used to sell the rip or add to short positions…But whatever you lose in a macro downtrend, you'll gain multiples back in a macro uptrend. All you have to do is pay attention to the markets when they are ultra bearish. Everyone was super bullish on the markets, but now the markets start to correct, and the fear takes over, as retail trader at these volatile times I keep profiting regardless using accurate trade signals from Randy Philip my portfolio have been on a rise although the rates are capricious wiping out some of my profits i still have about 9.14' btc! worth of crypto assets. <There might be so many investments out there but if profits must be considered, which is actually the sole aim of every Investment then I’ll advice you to go into crypto tradiing because it has higher profit returns. You can reach out to Mr Randy on <ͲeIєɠɾαm his personal handle is @Randy_philip,** >>>What'sapp +44 (7897) 058026……><< for any crypto related issues.
Thank you Ninja for what you are doing! I am confident what we are doing to preserve our wealth and prepare for the upcoming hard times is right on track. If only people would listen! I am finding many are oblivious and or don’t care and don’t think it will happen. They are being duped by the media into thinking it is not going to be that bad. I feel sorry for them.
6:20 – EN, you never "own your house"…You could stand on your front porch, waving your deed like a flag..and if you didn't "pay your taxes", then they can take your house and land. Think on that: Paying "taxes" for services you do not use, do not agree about, nor wanted.
So whose "house" was it anyway?
I put in the 401k at a crappy conveyor company that also promised ESOP. Three months after I was eligible, the company stopped matching because the founder cashed in his ESOP stock for $400+/share while the people pushed out got around $230. See Dept of Labor v Vinoskey.
Like a moron, I continued to put in the 401k when just an IRA would have been better, or paying down my mortgage sooner would have been even better.
You dont see it you wil see mega bull market in fiat money the value or store value of that fiat money is lot less silver is the only way out
Federal pensions, social security, military retirement and VA disability will disappear to give everyone UBI. Thanks for your service has a whole new meaning now…
New teachers today will be getting next to nothing when they retire if paying into the CALPERS system.
for those thinking this will never happen…. I was a banker from 1991 to 2002 – during the mid 1990s banks were refusing State of California checks due to them being returned NSF. California was bankrupt and nobody would negotiate their instruments.
What do u suggest a person do about retirement accounts
Very concerned for the single moms and elderly with the shortages coming. I'm prepping enough for extra folks, but it will only go so far…
CALPERS and CALSTRS can tax all the property in California to pay any deficit. They take no economic risk. These are the people who will buy your house soon. Highest CALPERS pensioner is Curtis Ishii. He gets $427.000 per year. Do you think he'll get a haircut?
The biggest global markets are money and real estate. Not art or financial services or tech platforms. I happily leave those to others. Analysts that are unfamiliar with digital assets; specifically the bitcoin network, are probably missing out. It's a huge space. I'm bullish with a 5-10 year view. To be consistently profitable, algomodels will have to be re-trained periodically and constantly to find new patterns. That becomes an impossible task for old-school traders who are still trying to find patterns manually. Algorithm is the only way to go ! Prior to meeting Gary Flex, I've suffered a series of trading losses. His AlgoSignal strategies have been extremely profitable for my crypto trading as I've watched my portfolio grow by six figures under his guide.
California teachers get 100 grand retirements therefore it can’t last
Dude! The “hawk”. I’m getting a “There’s Something About Mary” vibe.
I’ve never added any extra money to my superannuation over the automatic contributions but have instead invested some money in a way that I control. People still think I’m crazy but unfortunately I think they’ll soon find out the hard way why I did that. If I get my superannuation, it’s exactly as you say; a bonus. If I don’t get it, I will still be ok.
I'm surprised that nobody realizes that when they raise taxes on income that they'll basically steal you retirement because they'll tax it like regular income.
Already had them take a huge chunk and that's before Biden and his merry band of thieves raise taxes.
What's a pension?
I need a side hustle..I already have 2 jobs
Yep that’s life nothing you can do about it the government controls it. Life Good?
Got the Johnny Bravo hair goin today. Sweet!!!
Yes there is reason to be concerned about CalPers. However, there are still a lot of people paying 12% or more of their salaries into their pensions on top of similar amounts paid on their behalf by their employers. In addition, California is something like the 6th or 7th largest economy in the world. California also has a huge budget surplus and the legislature has paid money into CalPers in the past. Not a great situation, but at least if you have to rely on a public pension, then CalPers is probably the best bet out there. That said, Ninja is right. Pay off you stuff and save assets outside of your pension if you can. Young guys and girls, PAY ATTENTION!
FYI: First Citizens Bank in Eastern NC just announced via letter (received today) the upcoming closure of a branch aboard Camp Lejeune, NC, on Oct. 31, 2022, at 2:00 p.m./EST. Another location in Jacksonville, NC, on Richlands Hwy. went from full-service to drive-up only for deposits and withdrawals months ago.
And a small unelected cabal of bankers decide the fates of everyone
If the Petro dollar goes away. Say goodbye to retirement. The dollar is based on debt. So zero is zero no matter how you turn it.
The government has been raiding SS for decades. That's one pension gone. All the others are being embezzled by back stabbing traitors. How many union leaders have stolen retirement funds over the years? Heck, our money is almost worthless, but most everyone hasn't caught on, yet. It's all funny money. Everyday, the money in our pockets is worth less, because the government is stealing it from us by printing money, and using it to pay off our mortal enemies here and abroad. Everything costs more tomorrow. What a schit show.
A small correction, you stated if you have a $2,000 house payment and you have your house paid off then that's $2,000 that you won't need when you retire, but a large portion of that $2,000 is most likely taxes and insurance that's being paid with an impound account, so the actual monthly savings might be $1,200.
I have studied government pensions for years and yes most are Ponzi schemes. Remember, States cannot go BK so they have to pay benefits even if it means cutting services to the public. The reason for this is because the employees do not pay into SS and this is to protect the workers. Depending on the State laws some Cities can go BK. The biggest BK so far that impacted retirees was Detroit. Even with that BK, most retirees only lost 1 percent annual COLA for a period of time and lost their health care. The courts have already ruled that retiree health care can be taken away from retirees, most Cities don't even offer it to new employees. California does not fund retiree health care for the most part, they pay as they go. If the pension system drops under 60 percent funded, they will stop retiree health care to save the pension system. Also remember, Cities are not allowed to sell assets in a Chapter 9 BK. I say this because I hear so many people say " Their City cannot go BK because the City holds too many assets", this is not true.
Wise advice! Thanks, Ninja!
I fully expect contribution rates to rise and benefits to be cut. I also wouldn't be surprised if by the time millennials retire, Congress will snap their fingers and make Roth accounts taxable.
It's a big club, and you ain't in it. 201/84
I believe they will wipe out the rich under the 2% ones like movie stars ✨
Of course. If you are put on your knees, then flat on your back, you will be incentivized to sell yourself out for cheap. This is the best way to vaporize your rights and your money and all your options. Social Security used to have 65 as the nominal retirement age. Now it is 66. In a few years it will be 68 (that is admitted to, before things get adjusted likely worse). The Germans invented Social Security in the 1880's, and lost two world wars. But they haven't looted their Social Security retirement fund for other ulterior political motives. Which is why German Social Security pays twice as much as US Social Security. Across the world, the fewer old geezers there are to be subsidized with retirement and Medicare, the easier it is for the puppetmasters to keep the dwindling loot for themselves. Big part of why the puppetmasters want to cut the world population to less than half, and they don't care how many victimes die in order to get there. Instead of labor saving devices over the decades producing more leisure time as originally promised, instead labor saving devices over the decades incentivize reducing the population. This is why you are becoming more and more expendable.