Subscribe to RSSThe Big Picture for the Week of March 7, 2010
Yesterday I mentioned an article on Seeking Alpha where some of the comments seemed to be taking to heart some of the same things I’ve been writing about in terms of how the concept of retirement is evolving, evolving quite rapidly I’d say. I was encouraged by the tone.br /br /Then on an article of mine on SA a whole bunch of span style=”font-style: italic;”woe is me/span comments popped up about the difficulty to save enough and live within you means and getting growth from the stock market is a sucker’s game. Oh boy.br /br /span class=”fullpost”I attribute the sentiment to several different factors. Part of the equation could be a weariness from the stock market’s poor result over whatever recent time period you want to look at except for the last twelve months. There is no doubt weariness, reasonably speaking, over the state of the economy and everything else that goes with it. I also believe that in the specific comments I am talking about there was a lack of comprehension that retirement will be completely different for most people over the next few decades when compared to the last few decades.br /br /a onblur=”try {parent.deselectBloggerImageGracefully();} catch(e) {}” href=”http://1.bp.blogspot.com/_7ZckZ-8naz0/S5HO26bS2DI/AAAAAAAADHU/9noQAfTj-lA/s1600-h/Picture+123.jpg”img style=”margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 300px; height: 400px;” src=”http://1.bp.blogspot.com/_7ZckZ-8naz0/S5HO26bS2DI/AAAAAAAADHU/9noQAfTj-lA/s400/Picture+123.jpg” alt=”" id=”BLOGGER_PHOTO_ID_5445360867259635762″ border=”0″ //aMy belief that social security and medicare will not be there could obviously be wrong (to be clear I am not changing my mind on this) but I think most people agree it is on shakier ground than it has been on in a long time. Many pensions are also on shakier ground than they have been on.br /br /The possibilities with this creates the need for more reliance putting savings into something that offers the chance for growth like the stock market. Of course the US market was down in the last decade and there are some serious structural threats that we collectively seem to struggle to understand let alone find the will to make the difficult sacrifices needed to have a shot at getting things back on course.br /br /We know that wages in real terms have stagnated for many years now (I think at least a decade), we know that the savings rate in the US has been lousy (not sure why the government numbers on this exclude 401k contributions) and we also …
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The Big Picture for the Week of March 7, 2010
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