Unfortunately, the way things are going, the retirement age will be raised in order to help pay for Social Security and for the fact that in 25 years the cost of living will go up by 400 per cent.
Back in 1970, when I first started to think about retirement and what I would like to have for an income, I thought that $50,000.00 per year when I was 65 would be a good some of money. BS. Today, if you really want to live good, you need $100K with your home paid for.
You young guys ought to think about finding something that will really grow in value like diamonds, emeralds, rubies and saphires along with gold and get your homes paid for. I learned that from my father. The investments he made in the 30's and 40's and 50's really paid big in the 70's and 80's. Everything since then has quadrupled in price. The price of gold today is around $1600.00 per once. When I bought gold, it was 180.00 per once. While I strongly disagree with the politics of this country and its current economic direction vis a vis economic policies that simply do not work, this negative direction has made me and others very comfortable because the U.S. dollar buys less and less everyday. So the demand for precious stones and metals has increased dramatically.
I feel bad for you young guys, because you have a tough road to travel. By 2016, the purchasing power of the dollar will even be lower. You guys need to be pro-active on this situation and find solutions.
Ed
