Thanks HP reader Eden for the link. I'm telling you folks, there's a generation who thinks their retirement plan is their house. Thus, why save? Hummers for everyone!
But poof! that nest egg can disappear in a hurry. Ask the tulip bulb owners.
Having home equity in the 2005 real estate market is not savings nor is it a retirement plan. If you are saving, keep it up. If you aren't, start today. Start small to build a savings habit. Stop borrowing without a repayment plan! Learn to live on your current income, including an amount for savings. You will not regret it. I promise.
February 07, 2006
Good advice
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5 comments:
Saving money is just as crappy as having your retirement in house equity right now. Raw materials for my business, energy, rent, and now wages are creeping up. It takes two or three of my 2006 dollars to buy one dollar in 2000 goods. I have to pump and dump to keep up. It's a no win bend over and take it brokeback economy. I am afraid to be caught holding the bag in bubble assets but also afraid to have cash.
Just plain "saving" can be dangerous. The government paid for the Vietnam War in the 1960's and 70's by confiscating savings accounts via inflation.
The bill for Reagan's and Bush's mismanagement is much larger than that was. Somehow, some way, they will find a method of extracting that money from someone, and that someone won't be their campaign contributors.
king cheese, you are correct about the dollar - it's headed for disaster. I'm afraid the whole country might follow.
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RickJ
Hi there Blogger, a real useful blog.Keep with the good work.
If you have a moment, please visit my savings bond calculator site.
I send you warm regards and wishes of continued success.
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