Why would they encourage retirees to spend every dime?
http://finance.yahoo.com/focus-retirement/article/108713/the-spend-every-penny-retirement-plan?mod=fidelity-readytoretire How in the world did this become good investment advice? They are basically advising retirees to spend every dime of their retirement savings. That now it is becoming "increasingly popular" not to leave a legacy to family and to spend every last dime on country clubs, fancy dining, and cruises? I understand when you are retired you should spend some money on yourself...but why are they encouraging retirees in the middle of a recession to not save for the future and to spend, spend, spend??? What if they sick? What about medical bills? Is the economy so bad they are trying to bankrupt retirees so they will spend their money instead of hoarding it in the bank?
Public Comments
- You have to understand the dynamics of fiat paper money in order to see why saving your money in the bank is a foolish idea. In 10 years time the dollar is going to be worth less than half of what its worth today. With the way the FED has been allowed to just print money like theres no tomorrow and the government going deeper and deeper into debt your best move would be to get rid of all your greenbacks as soon as possable and buy gold and other historically stable investment. Its soon goning to be time for Americans to wakre up and get away from this backed by nothing monopoly money like all other nation have.
