Very scary reality for older American’s …the retirees. With their fixed income dropping and home prices down, this is tough times for the older generation.
About 6 months ago I warned a family member to move all his investment to cash or Canadian bond position, however the response I got back, was “Why should I do that, the financial stocks are doing very well now.”
I however, did not press the issue with this family member because I didn’t want to seem like a know it all, but I knew that the rise in the stock market will be followed by a sharp and violent downturn and it finally arrived.
The music is a little creepy, but there is a lot of solid evidence that points to the collapse will come for the United States and global depression. It can come in 3 to 5 years, exactly when is not know, these issues which has been kicked down the road always takes time to work itself out, but when it does it hits fast.
With the current economic situation in the United States which has somewhat spilled over into Canada, it would seem that most Canadian’s that are close to retirement are destined to work well into old age because they have not saved enough or are burdened heavily by debt.
A Canadian Imperial Bank of Commerce poll this week showed that only half of Canadian Boomers aged 45 to 64 have some type of regular savings programs in place. And a TD Waterhouse survey found 31% of retirees aged 55 to 70 are spending more in retirement than expected.
This video has some really solid statistics about Canadian peoples debt, the 30% senior citizen’s retiring and the glut of homes that will be entering the market that is going to drive home prices down.
It talks about how corporations has filled peoples head with ideas of a lifestyle that most debt ridden Canadian cannot really afford. This is a must watch, it is a hard look at the reality of things and the coming hardships.
The last several years of slumping economy has had a huge impact on many American’s ability to retire.
This is a video of what retirees should consider before heading into the retirement years and planning to work during those years. It talks about finding your passion and doing what you love as work, that way earning an income doesn’t seem like work.
A greater number of Canadians feel that the economy is getting worse than last year. Now 20% up from 14% last year feel this way.
Some of the top concerns of Canadians are having enough money to retire, and improving personal finance. They feel that the Canadian economy maybe getting a little bit better by the government reports but at home things are getting worse, goods are more expensive (inflation), jobs are hard to find and people are still being laid off. So to the average Canadian, their personal finance situation really don’t feel any better.
The initial financial collapse in 2008 was just the tip of the iceberg. Since then the U.S has been struggling to grow economically and millions upon millions of jobs has been lost. If you think things are getting better, you are probably watching mainstream media…truth is the U.S economy is struggling and run the risk of another collapse. Watch the documentary and make up your own mind.