Most of what we know about money and finance can be dug right out of the history books.
… the ones collecting dust at your local library.
Por ejemplo: Every government in the history of the world eventually defaults on its debt.
Every. Single. One.
There has not been a case (to my knowledge) where a government has made good on all its promises.
That should be a huge wake up call. But, alas, people still rely on Social Security and Medicare in their old age.
You say the U.S.A. has never defaulted on its debts?
Au contraire mon ami. New York defaulted on its debts when it built the Erie Canal and decided it didn’t have the cashola to pay off its debts.
And most states don’t outright default but they find “clever ways” to cut promised services or “skim” off the top.
… which is why I chuckle when someone insists that they’ll be fine when they retire because they have a good pension from the state and Social Security.
They’re shocked (SHOCKED I tell you) when I dare suggest that states and the federal government cheat people all the time.
All. The. Time.
It’s in their nature.
Fact is… The Social Security Administration is already telling people they don’t expect to be able to pay out full benefits for the next generation of retirees.
It starts this year (2017)…
As the great philosopher Thomas Jefferson once said: “A government big enough to give you everything you want is also strong enough to take everything you have.”
And so it is.
Today’s political allies make laws and regulations which will be used against you by your enemies tomorrow.
So, don’t expect the democrats (or republicans) to save you.
Politicians don’t care about you… they care about themselves (and votes).
This kind of chicanery has been happening for literally thousands of years, here in America and in Europe and in pretty much every country that has anything resembling a government.
Now… that doesn’t mean I am against government as such (another topic for another time). But… it DOES mean you can’t trust “big brother” to take of you.
Whether you choose to do anything about it or not is up to you.
Speaking of which… there is an industry out there that was originally set up in America to allow people to plan their own retirement… and be personally responsible for their own future…
… and the industry was set up so that it was (almost) impossible to fail.
That industry is the life insurance industry.
Life insurance companies came up with the idea of Guaranteed Savings Contracts and Endowment Contracts (which, today, are called “whole life insurance”) which became the primary way people saved for their future… for emergencies… to start and grow businesses… and so on.
And it’s a system that’s been profitable for the last 150+ consecutive years in the U.S. and over 1,500 years in Europe.
If that sounds stable enough for you… book an appointment and let’s see if a life insurance plan makes sense for you: