The Coming Retirement Crisis Explained by Raoul Pal

[@RealVisionFinance]

🔥 Get FREE ACCESS to Real Vision rvtv.io/3Y4t5Pw. 00:02:15 Theme of a Generation 00:08:56 Who can Afford to Retire? 00:12:12 The Retirement Equation 00:15:08 How Much RAre Yre you Taking? 00:16:26 A Dangerous Situation 00:24:18 An Aging America 00:27:18 A Huge Shift 00:30:33 How Safe Are Your Investments? 00:33:45 Can you Afford to Retire? 00:37:33 Opportunities Amid the Tumult 00:46:58 The Future of Retirement

[@ResilientViking]

Uuu u yyuyy6y thy yyyyy6yyybyuyuyyyyy

[@randycarstens1100]

I’ve realized I don’t have enough money saved for retirement with increased lifespan. So I am adding some life span adjustments. I have gained weight and started to smoke cigars and drinking more. Hopefully this will get my lifespan back in line with my retirement assets.

[@teresamardorf2326]

I like this plan 😁

[@prepperpatty199]

Randy Carst: Sounds like a plan to me! Studio 54 all over again! Do you prefer hard rock,heavy metal,classic rock/rock-n-roll,country or disco?

[@javierharth3647]

Now, that's planning! The world should follow your example!!

[@jdelaguardia09]

Sounds more fun than a shot of covid vaccine.

[@TopHatRonin]

When life gives you lemons 😁

[@rubytuby6369]

I’ve been retired for a while, people want to much ,and they think they need so many things that they don’t. Don’t stress out try to keep your health, Enjoy life be kind and forgive everyone.

[@sirojadesign6561]

Buying stuff keeps the economy going on

[@oldslowjim]

As a retiree myself, I left the country, and took my multiple pensions, investments, and cash and left the U.S. It is a true sign of a country in decline when the people leave for better places to live. Most other countries love for us to move there. Older people don't need schools, police, firemen, and don't trust politicians. I would just move to another country if there were too many problems. Move again, research, and always have a fall back in mind. Be responsible.

[@reeseville1]

@@oldslowjim Exactly...Im moving as well. There are much better options than USA and you can live a better quality of life with less money.

[@oldslowjim]

@@reeseville1 Asia anyone?!

[@senorbullflag7346]

@@oldslowjim The Australian Govt. fixed this. They banned Australians from leaving the country! We’re now in the same club as North Korea living in a country that won’t let us leave! Supposedly due to covid of course. (So why is it the Treasurer & not the Health Minister who always makes the announcements?)

[@MrGirish01]

There is easy solution. I as a 75 years old live it. Its very simple. Learn to live frugally. Learn to live healthy lifestyle.

[@SandeepKumar-tj1jz]

It's not that easy. You can only live healthy for so long. The medical costs are spiraling up in India as well. They push inflation up to fool the people. It just erodes the value but some body is the beneficiary. That is why they are pushing immigration to keep alive Pension Ponzi scheme in the West. The current work culture ensures you will retire with a minimum of 2 to 3 health issues bcos of stress.

[@TheorizingWithBen]

Most Boomers cant help themselves. They never cared about economics until now, and they still disregard the recession 10 yrs ago that made the Carter administration look prosperous.

[@seventhchild7270]

Girish Vinod.......I agree with you.....as a 63 year old.....I do live simple, frugally, and eat healthy, exercise, retired with decent pensions, medical insurance....car paid for mint condition, save for emergencies, as of July. DEBT free.....with last credit card paid off 700.00....THANK God!

[@johnsergei]

You're not good for the economy. Wouldn't you be better getting sick & helping doctors & medical companies pay their mortgages, car loans & credit cards (+taxes & taxes on taxes + the same item taxes several times from the maker to the buyer?) It's sad people spend 70-80,90+ years & have no idea how the monitory system operates. 7:01 "it doesn't add up" Correct, the is a missing eliment of this equasion. Why does the government ( who most people think, prints & controls the money supply) need tax?

[@alexchavez3244]

Best solution get illegals to work in camps and let them work and pay half they’re check and pay for retirement social security and the debt for our economy and it’s a win win situation if your go to retirement go to Mexico to live happy and go to the beach cheap and best place for Americans then the United States sad but true.

[@MereAYT]

It is sad that we live our lives working in hope of maybe, possibly being able to finally relax and stop worrying just as our bodies become unusable with age.

[@kevinriley5686]

Anyone else watching this in 2020? Wow so onpoint... it is scary

[@RealLifeMoney]

Very true, could be only the beginning

[@lorrainedilks4053]

@@RealLifeMoney Yes

[@monguskooklord7867]

Yeah spot on. Buy chainlink.

[@sonyjoseph5426]

@@monguskooklord7867 most missed the boat when it was under $2 6 months ago . That shop has sailed

[@Cleatus25]

I missed the opportunity in March. Think there will be another opportunity soon?

[@Rob_CryptoTalks]

I’m currently watching this for about the 4th or 5th time. I honestly don’t think it’s an exaggeration to say this is the single most important video on KZbin.

[@stephenmurray2851]

Nah. Watch overdose documentary. If you like this then you will love that.

[@AlexM-jd2ro]

Rob, I am scared

[@twarner9338]

America has fallen people.

[@twarner9338]

Oh ,people yall aint guna beleive the impact !!

[@stephenmurray2851]

@@twarner9338 America isn't doing any worse than anywhere else. Most other places are worse.

[@martinleepgg]

This should be played in high school economic class, it's an excellent presentation.

[@catsincredulous9998]

Their teaching Marxism now! No way that's going to happen.

[@dougpatterson7494]

In the finance portion of a high school math class in 2010 our teacher told us that we'd better save for retirement and not depend on government pensions.

[@Pravda_Z]

Let me guess - You too are a Wall St shill hoping to steal people's hard-earned cash...got it!

[@Pravda_Z]

@@dougpatterson7494 Yep...'cause the Krapitolist Congress and Wall St work in harmony to steal any wealth you may, through your lifelong effort, accumulate.

[@stinga_]

Not while the same guys fund education

[@TV-iv3zr]

2021 This is still on point. Very frightening ~ numbers don't lie, people do.

[@cashkitty3472]

Really equity to, inflation is being stubborn by man made government decisions and stock exchange going up after a dips and bond at an all time low. Stock exchange isn't inflated, housing is

[@mikea5745]

"Still on point" doesn't really do it justice. If you look at the same charts today, it's a far worse picture. The market has nearly doubled since this video was made

[@user-xm3wd8tz6d]

Except the inflation part. 🤣

[@sjordan7085]

I live simply, and have Social Security plus a very, very tiny pension. I have what I need, but no way to afford luxuries. I take days out occasionally, instead of paying for hotel accommodation. I also have a modest vintage RV if I want to spend a night camping somewhere beautful. I never eat out, and buy everything used. My hobbies are playing the piano, reading, painting and drawing, writing children's stories, rescuing rabbits, and refurbishing items for my little grand-daughter. I only go to free concerts, and other entertainments listed in the local Entertainment magazine. I have managed to stash away enough food and supplies, to last several years for my daughter and family, as well as myself and pets. I also bought a Berkey water purifier and have the means to collect water. I sew, using materials and sundries purchased in thrift stores. I am comfortable, but far from rich.

[@kiwi123467]

Jarod Armstrong btc up 1000/: zil up too study blockchain

[@fionamoran4523]

You are rich definitely

[@waynebollman]

I'd be thrilled to end up with those conditions.

[@navagatingthroughthebeasts2908]

Garden????

[@TV-iv3zr]

Sounds like pure happiness.

[@brucenotlee924]

Bring this man back on for an update, things have turned out much worse than even he could have predicted.

[@Mikechill5]

government now saying social security will be gone by 2030 and disability by 2026

[@andrewcannon587]

gov't will and is buying stock, just like for japan. Stock market won't crash (some periodic correction yes)

[@lashlarue59]

@@Mikechill5 No, the government is NOT saying Social Security will be gone by 2030, thats impossible because as long there are people working and paying into the system there will be money paid out. What they are saying is by 2034 there will be a 25% reduction in benefits because at that point the money they are paying out will be more than they are taking in.

[@sirojadesign6561]

@@andrewcannon587 Just a short time, it is getting shorter every time. Last time was 2008 now 2018, 1940, 1917

[@sirojadesign6561]

First 33 years then 10 years

[@ashthegreat1]

Im gen X. My grandmother retired at 65 with fcuk all except a freehold house a Honda car. She's 90 now. Same house, same old furniture, same Honda. She reuses teabags and lives off her garden, family charity and a small pension. And she's happy as hell! It's totally doable. Just make sure you look after your family and they will look after you.

[@pangmeister]

thats how it was for thousands of years. Somehow, it was lost.

[@ashthegreat1]

@George V lols no offence taken. My late grandfather died in his early 60's. He was a hard drinker and ate a terrible diet. They both worked full time - he as a bus driver and she as a nurse. Feminism wasnt a thing then... not like it is now.

[@reneehenderson4818]

I dont think you know my family or you may not have commented as you did.

[@reneehenderson4818]

But I'm happy for your grmo

[@boudicca4841]

Not as easy with still paying rent into retirement.

[@guitarcountry1]

I started planning for retirement in 1985. I believed that Social Security might be insolvent by my retirement age. So I started investing $166 a month in mutual funds. I went through ups and downs, but I have a great retirement. Much better than the averages quoted in this video.

[@GHC3]

The same. I started at 19 back at the beginibg of 2011 and opened a roth ira a year later, moved the latter to a better company 4 years later. I know someday planning towards the Fire lifestyle will pay off

[@privateprivate4384]

Well done, hat's off to you for planning well for your future. Enjoy.

[@V.E.R.O.]

Same, started in 2007 because I heard SS money would run out.

[@jjuniper274]

Actually, I reduced my food bill by eliminating fast food and dining by $400 per month. Gen X here.

[@alexndg5260]

No one cares

[@cch312]

@@alexndg5260 looks like you cared enough to comment, just like I cared enough to troll

[@alexndg5260]

Will Cheung you’re not funny

[@cch312]

@@alexndg5260 No one cares

[@jjuniper274]

Well, since no one will read this anyway, or care, it's called "taking responsibility for my actions." Dr. P. Speaks of this often.

[@nocturneowl2660]

This guy put it together for me to digest the complexity of the economy. Bring Raoul Pal back for more. Gen X here.

[@dianealbrecht496]

Ever since this country went off the gold standard in 1971, it's been downhill ever since.

[@tdoggo7614]

As a retired economist I agree with you 100%. We didn’t have the money to pay for the Vietnam war so we gave up the safeguard to prevent government overspending. That was the beginning of the end of the American Middle Class as we knew it.

[@nevadataylor]

The problem existed way before the gold standard. The problem is capitalism.

[@thehealthychefri]

Yup, plus the price and wage control by Nixon!

[@tompain2751]

@@tdoggo7614 The problem with capitalism,is young people are not practicing it!

[@PouchMaster]

@@tdoggo7614 The whole reason for the Vietnam War was to take multiple countries off the gold standard. This created the alternate reality we live in today as billions of people alive today would never have been born. This alternate reality is collapsing now as core deflation and non core inflation run rampant.

[@Joeknowsball247]

Am 58 retiring next year but the thought of retirement gives me weakness. My apologies to everyone who have retired and filing social security during this time after putting in all those years of work just to lose everything to a problem you never imagined to happen. It’s so difficult for people who are retired and have no savings or loved ones to fall back on.

[@camille_ann3]

True, It has never been easier to understand how to build your money after retirement than it is right now with the inflation, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investments, in my opinion, are complex.

[@williamJohnsonq8f]

Agreed, I'm quite lucky exposed to finance at early age, started full time job at 19, purchased first home 28. Going forward, got laid off 36 amid covid-outbreak and at once consulted an advisor. As of today, I'm barely 10% short of $1m after 100s of thousands invested.

[@svartvist]

Cheaper to live off McDonalds than at home? I'm retired and live in the center of the nation. I spend ~$13/day for my wife and I to eat a healthy diet. Going out costs us an avg of $16-18 for one fast-food meal for the two of us. Going to a restaurant costs 2-2½ times our daily food budget, and still the menu fails to stack up against the nutritional value of our eating at home. On a good day, we can find a lunch to share at Hyvee for $9. Where does he get his data from? I've traveled the world for business and pleasure, and no matter where I've been, Rochester NY, Los Angeles, Portland, Seattle, Lost Wages, Denver, Chicago, D.C., Atlanta, London, Paris, Oslo, Frankfurt, Rome, Tokyo, Taipei, Mexico City, eating out always costs 2-3x more than amortizing a week's worth of groceries.

[@susanmaryjones9281]

Ikr that struck me as rediculus also, most of these bozos dont live in the real world.. invest in trailor parks? Dam how low can you go to profet from the poorest amongest us..These bankers have no souls.

[@T30-z5w]

Totally agree. It’s usually never cheaper to eat out than to prepare food at home.

[@jamesmclaughlinprimitivele4587]

Saving acct interest rate .01 percent, credit card interest rate 20 plus percent, I think I see the problem.

[@asterisk911]

My savings account, literally just a hum drum FDIC insured savings account, is paying 2.30%. If you're getting .01% one day ago (when you posted), then that is your choice, and I respect your right to that choice, but let's not pretend you have to settle for that.

[@cmdr1911]

You shouldnt be using a savings account for investing. Anything less than 3 percent is costing you money. I keep cash in a saving account but that is easily accessible for emergencies to avoid touching the actual investments.

[@soulmate805]

James Mclaughlin The greedy and selfish bankers and politicians are the problem.

[@nrm55]

@@soulmate805 I believe that was his point.

[@moshfists]

If you settle for .01% and carrying 20% debt, you deserve to fail.

[@kirstinstrand6292]

Being a senior, I can verify all that you have stated; not only I, but my ancient, now dead mother, never wanted to buy anything nor did she want any conveniences. When I worked, my escapism was shopping. Now, I shop at Good Will and plan to make my expensive teas at 1/4 the cost. My entertainment now...lol. Get ready for a lifestyle change all you blooming boomers. In reality, we cannot believe we will die. So we never plan for old age...seriously! PS I cook Everything from scratch to stay healthy. The millennials seem to be busy living their lives, making their personal goals - not interested in the world's drama. Moreover, the employment market is stagnant because similar industries /competitors are in collusion, having an agreement not to hire competitors employees. Additionally, companies keep each employee in the same position, not moving them into higher level positions ...again keeping the wages stagnant. It's all rigged.

[@asrr62]

the job market is so horrible right now!

[@kirstinstrand6292]

@@asrr62 yet per today's Gov Stats, the economy is hot and 270 000 jobs were added in non farming payroll. They also said wages are increasing because ppl are willing to pay more for food, etc. SPIN DOCTORS...

[@michaels4255]

Teas! Make your expensive teas with a drip coffee maker. You can use half the amount of tea per cup yet it is still full strength flavor.

[@sunlite9759]

"The millennials seem to be busy living their lives, making their personal goals - not interested in the world's drama." That is why they vote liberal and will live to regret it.

[@4thworldwilderness390]

I was in 9th and 10th grade when I realized that everything is fundamentally backwards or wrong in our society.. then I spent 13+ years studying, reading, and researching every idea and philosophy I could get my hands on. And now that I have a decent grasp of the big picture and have advice or knowledge to share, I'm quietly socially ostracized if I ever start talking. Lol people run from you if you bring up real political debate, theological discussion on religions and cults, psychological warfare tactics and secret intelligence working with media conglomerates, or any "conspiracy theory" that has been thoroughly studied by thousands of individuals throughout history where the evidence found by unofficial lone researchers or groups debunk officially narrated storylines while the real evidence properly explains what actually transpired more accurately. I would highly suggest the thkelly KZbin podcast. One of the best channels on KZbin by far right now that I know of, he's a historian and bibliophile that knows so much about the past several hundred years it blows my mind and he also interviews tons of authors, writers, researchers, and other content creators. Sorry to ramble. Thanks and have a great day

[@christianlibertarian5488]

I bought this line of thinking. When the pandemic hit, with the resulting economic crash, I sold equities at what I thought would be a peak. Wrongo. The Fed and Congress decided to create money by the metric ton. Equities soared, opposite of what should have happened in a recession.

[@mrotolo]

WOW!!! Would please please please make ANOTHER comprehensive video like this one for TODAY!! So prescient! We need an update!

[@privateprivate4384]

Credit has killed the system! I was born at the beginning of the 1950s I paid into a private pension and state pension which was miss managed by subsequent Governments.Then we had Robert Maxwell who betrayed many and left us with no pension. My husband and I never use credit neither have our parents. We have saved since we were young. We are well of because we live a simple life, and are happily retired and own our home outright. We have a responsibility to prepare well and to be sensible. We made the right choices and never tried to keep up with anyone else.Most want and they want it now.They need to change their thinking.

[@braden6992]

This is the single most important video I have ever seen on KZbin - and I have seen hundreds. Everyone who cares about economic and financial issues should watch this in its entirety.

[@firefighterps2]

Yes Braden, and then forward it to friends and colleagues who are still under the impression that were in the greatest economy ever!

[@horseradishpower9947]

I have been banging on about this Agequake since 2005. This just gave depth ro all of my arguments.

[@MIchaelGuzman737]

Great video. We are all seeking for financial independence and a better way of life. This is not difficult to achieve with savvy investing, a frugal lifestyle, and cautious budgeting. I'm glad I learned early on to work hard for financial independence. As Warren Buffet said, he has seen this happen many times in his life. Not an investor, My husband and i never earned more than a middle class salary. We plan to get retired at 58 with a stock portfolio worth $4M. We have never sold so much as one share of stock.

[@sommersalt88]

@trevorogden3288 I agree with you. I started investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money with an investment advisor and in seven months raised almost $873,000.

[@clarkdunshee]

@@sommersalt88 Any chance you can recommend who you work with for those of us who want to make the right plays now and be better positioned for a healthy retirement?

[@sommersalt88]

Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. "LISA ELLEN SHAW" is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

[@clarkdunshee]

@@sommersalt88 Thanks a lot for this. I really needed the recommendation, and I would love to move my funds from an existing mutual fund. I'll check her ouT.

[@elliotoliver8679]

Always a CLICKBAIT BS artist with a garbage story to attract fools

[@dbradley3]

There are no guarantees in life. Deal with it. Most people reading this, have already lived better (easier and longer) lives than 99% of the cumulative human beings that have ever lived. We were lucky enough to be born into this window of time where for the most part, our biggest collective concern is pursuing the illusion of being able to plan; versus simply trying to survive to the next week, the next month, the next year...as many have had to do in prior hundreds of generation. The best you can do is to lower your expectations, and just be thankful for here and now; and hopefully the next good meal and healthy day alive.

[@jja1483]

dbradley3 that is very well said ,we have lived better lives than previous generations, we should be very thankful ,imagine living in a world with out water,refrigeration

[@joeryan8022]

Very well said , I was thinking about this theme lately. You are born into a particular segment in time which is now in this moment in history . You could have been born in 1662 , had a miserable life are are now dead . Lets enjoy every moment right now and realize how lucky we are . If you watch the global news you soon realize our consciousness is the gutter for the most part .

[@thomaswhite4231]

You're a real charmer aren't you??? Lol

[@nancysmith2389]

That includes the 1%. Lower your greed or the poor will eat you. LOL

[@Mom_sBasement]

Is this Dwight Schrute?

[@brazenbull636]

At 33 and having not saved, I DID buy some land in the woods a few years ago that's almost paid, eventually I'll finish building my cabin, have a well, and raise animals and a garden. Drink clean water, eat clean food, breathe fresh air, and be kept active well into old age. Then when I get too old to work I will hand it down to my kids on the condition that they take care of my old crotchety ass till I die. I'll take care of the animals, the garden, and sit on the porch smoking cigars 😎🚬 A family that cares about each other is the only real guaranteed retirement. I wipe your ass, and then you wipe mine..

[@brazenbull636]

@Xadion maybe for you..

[@shadowspire]

That's what my dad did for us, he passed 3 years ago, and now I've put my own life on hold and taking care of my mom and younger brothers. The way I see it, my parents provided me with everything I needed i can return the favor. My own brother and mom are the only ones I have full trust in

[@jamiekloer6534]

Like this and started to think I’m the luckiest person alive for having a strong family. We take care of our parents like they took care of us. If we have to we have land and can take care of each other. We all had kids and we are undivided.Family is all.

[@dondressel4802]

What kind of cigars? I prefer black and mild

[@dondressel4802]

Jamie Kloer yes don’t trust anyone but your family I found that out the hard way My ex took everything that wasn’t bolted down

[@emzywillrich7243]

I agree that this gentleman should do an updated version due to the pandemic altering a lot of the projections and making things so much worse, especially in the areas of consumption and spending!

[@larryboysen5911]

All my purchases are at "thrift stores", garage/estate sales. I do a lot of restoration of old items...from the 20's-40's when furniture and other items were MADE IN USA!! This country has sold itself to the world bankers and ultra wealthy, destroying the so-called middle-working class...foundation of our economy. Glad I'm 75 years of age!!!

[@g.s.5868]

save everybody a buck and go soylent green dude

[@nadinem4959]

gil bkk Your comment is a great demonstration of disrespect and immaturity.

[@g.s.5868]

@@nadinem4959 really, how... for companies you are a number, for your md, you are a number, clients, shareholders are more important than your health, you get sick from the food, than you go see their friends the pill pushing industry... before you die, please send most of your money in a hospital, md's that get paid for just reading you chart, many different one's... pills, tests .... your body is worth 1$ million I heard when I was younger... I tought, mhhh? selling my organs ? no ...it is to the insurance company & hospitals, what they can bill you for tests & crap...

[@abagailvelez4421]

Pension funds are, a thing of the, real time, when Americans use to be, America, now is inc.america there is ,no hope! No! Cash,! No more ,! American, so stop, having babies, just cause u, borne, female, help! U, country! B ,responsible,! True, American,!!

[@larryboysen5911]

Not only here, U.S., but worldwide...all nations are "going broke" at the hands of the "global elite"!

[@THOMASTHESAILOR]

I left the labor market, because I could.. Jobs have turned to shit.. No respect anymore, Pay is way down, My kids are grown, Life is cheap now.. The 70's and 80's were Fabulous, Good Jobs everywhere, Bosses respected you.. It was a pleasure to work, I loved working everyday, People were great, etc.. Times have changed.. i don't like it.. I have enough assets to live on, until retirement.. i've kept my living expenses low.. It's all looking better now..

[@justinajones3000]

Thomas, I'm onboard-no pun intended. Luckily, I didn't have kids so I was able to spend even less than my peers.

[@THOMASTHESAILOR]

@@justinajones3000, In my case, it wasn't the Kids the cost a lot, it was my X wife. She wasn't a team player.. She wanted it all for herself.. She did me a favor by divorcing me.. I would still have to work to support her too.. I originally (when I was 20) planned to be retired by 40 years old.. My X pushed that forward 10 years.. Life is sweet without her..

[@THOMASTHESAILOR]

@733Rafael I don't mind working, I actually like it.. Finding a Job I like is the problem.. I hate bosses that think their shit don't stink. ! A lot of Jobs have turned to shit.. You can't pay me enough to be disrespected..

[@THOMASTHESAILOR]

@733Rafael 10 years ago, My boss hired 1/2 dozen Polish immigrants (some legal, some not), They worked for at least $5-8/hr less than Americans .. but it wasn't the pay that was the problem.. The Boss discovered he could treat the socialist immigrants like shit, and they won't say a word.. Once Americans (2) were the minority in the shop, Boss discovered he can cut all the benefits and bonuses without a peep from the crew... I stopped going in, every time He talked down to Me.. Pollocks were fighting amongst themselves, the shop was in disrepair, etc.. The place turned into shit hole, little Poland.. I left for good !..

[@justinajones3000]

@@THOMASTHESAILOR Thank goodness you don't make any payments not towards your "sweet life".

[@appleiphone69]

People are starting to realize that the 6% that they saved to get the company match was not enough. Companies got rid of the defined retirement/pension plan and shifted the responsibility to the employee. Social security is going to be paying 20-25% less than what people expect starting in 2030 at the latest. Not to be smug, but I learned lessons from my grandparents who lived through the Great Depression. Lesson number 1 it’s easier to go from sugar to shit than the other way around. Lesson 2 Bad things happen; prepare for them. Lesson 3 practice delayed gratification and don’t focus on what others have or do. Pay yourself first with investing & saving.

[@bennyxenaz5551]

Common core

[@yeshayahu8358]

Good advice sir.

[@paulnoecker1202]

T Mox gen x has a history of poor impulse control. Quit shoving blame on millenials. 35:50 pay attention, God, bb and gen x have the attention span of goldfish. Quit shoving the bill on my generation and then being lazy.

[@onetwothree4148]

Defined benefit pensions should be illegal. They are a much bigger problem than anything this guy talked about.

[@drummerdorcas]

@T Mox haha of course it's the generations around you that are the problem. I bet nothing bad that happens is ever your fault in your world

[@DistrustHumans]

I have to stop watching financial doom videos like this, and start watching homeless videos... only way to truly prepare for the future.

[@mikecarr9849]

Why are the homeless,, homeless? what poor life choices did they make ?

[@MP-nj1qy]

Amen to that, the poverty video makes you buckle up and keep on working towards your dreams

[@oceanhome2023]

Start Prepping harder !

[@rejectionistmanifesto8836]

They dont have to worry the elite parasites at the WEF will make sure that wont happen with the monthly jabs they are planning/pushing. All the lemmings haven't put these people on stakes by now, proves these parasites will keep pushing for monthly pokes and the resulting "unexpected outcome".

[@williamstanton4283]

homeless videos are a gateway drug to van camping videos.

[@chrisbergeron5625]

Well done. A grim state of affairs looking forward. Be kind to all, especially your relatives! I realized many years ago that if I kept working 50+ hours a week, I wasn't going to reach the retirement age of 67. I paid off all my debt with overtime money and retired at 52. I drive an old jalopy and rarely pay for services I can do myself. Absolutely positively NO regrets dropping out of the working world early. Pay off the revolving debt on your credit cards and by no means, NEVER buy a brand new vehicle!

[@joeharvey5556]

None of my business but how much cash did u have in pension or savings. Was it more than 300000? How much would u say u need ti retire on at 52? Im in canada ans living is expensive. But manageable. I want to retire too but i worried sblut lifespan even though i feel i w8nt make 72.. maybe sooner i wirked i auto,, so wondering how much a month do u need month for bills.. food etc. Im paying off all things no debt etc..

[@chrisbergeron5625]

@@joeharvey5556 However you can arrange your asset dispersement, the end goal for me was $60k per year. The most important thing is to get your expenses under control and have a number to work for that you can twist off at. I live modestly on the West Coast which keeps my utility bills rather low. Health insurance is my biggest issue going forward. I remain heavily invested and DIVERSIFIED in the stock markets. Don't think that you need millions. You can be frugal and do it on far less than that. Bonds, cds, savings accounts and keeping your money in your mattress is a path to failure.

[@RavenRaven-se6lr]

That’s a positive spin thanks.Swag and motorbike almost there! No debt 🇦🇺

[@mikea5745]

@@chrisbergeron5625 I can't imagine how out of control your spending was before if you cutting down your expenses brought you to 60k/year. You're still spending way more than the average person

[@TRINITY-ks6nw]

@@joeharvey5556 FIRE with a bit of Dave Ramsey Remember the 4% rule

[@00000000000101010]

1:26 "if the United States Government goes out of business then my pension won't be there." Um....if the United States Government goes out of business I think we might have bigger problems than your pension.

[@ShidaiTaino]

00000000000101010 someone is asking the right questions

[@slappy8941]

"But it's all about MEEEEEEEEE!!!" ~Boomers, since forever.

[@johnsergei]

@@slappy8941 After debt & taxes have finished with ya, who should it be about? ( a F^*!G politician?)

[@slyhorse1]

Yeah thats a shocking idea. The US government isnt a business anyway, so wtf?

[@johnsergei]

@@slyhorse1 Not a business? If government prints & controls the money supply wtf ( as you speak), do they need taxes? To run government? ( you look funny going around in circles).

[@kevinloughrey5135]

I don't wish to retire. I'm 69, very fit and building my own house from which we will run a B&B operation plus I'll get work locally doing anything I can. By doing this I meet interesting people and live an adventure. That to me is what life is about. Retirement is tantamount to the first stage of a process of atrophy, decay and death. Its not for me!

[@brokencage9723]

sweet,congrats you won the lottery. im 55 and my health is failing. VoV, not everyone is in the same boat

[@jonathanfisher9745]

Thank you for making that statement! I feel the exact same way but I'm 44 and have anxiety about how realistic that is or how it will play out in time. It's got to be better than watching the news and getting obsessive about my yard🤣

[@tedthesailor172]

I atrophise on my motorcycle, decay at the pub, and mean to die on my yacht. The `W' word is deleted from my vocabulary. I've met enough `interesting' people in the last 70 years to last a lifetime...

[@theendisnear5733]

Everything has its limit when time come you cant stand up in your feet anymore you cant stop death it will come to every one even to king gilgamesh.

[@cashkitty3472]

A lot of People are like this. My mother so works at 72 but she won't retire ( well she did as she stopped buying a manager and went past time) her party time job because she likes it. She says she can't afford to retire but she hasn't taken her pension yet and lines in a 4 need house which she could downsize. My step father still takes on jobs to in building work and he's 76. Both are fit though

[@scota73]

I’m watching this in 2023, retired in 2020 at the beginning of the pandemic which really exposed all these issues. I’m very worried about the retirement I’d plan for. This video explains so much, I wish I’d seen this video sooner.

[@ricf9592]

"You'll thank me for this one day". Those were the words delivered to me by a financial advisor thirty years ago. So taking his advice, for those years I made a point of living 20% 'below' my means. I'm now destined to get a bigger income than I ever earned by working. And what is more, I'll get more when I reach state retirement age. Sure I've missed out on all sorts of luxuries. But living in fear in my latter years didn't appeal.

[@randycarstens1100]

Congratulations man! Not many people can say that.

[@chazdomingo475]

I don't mean to burst your bubble but he was talking about systemic risk in this video. You might not be safe from that, and you should try to figure out if there's anyway you can shelter your hard work and sacrifice from it.

[@Garandmasthumb]

@@chazdomingo475 ive gotten completely out into bitcoin and silver. but it wont matter if everyone else goes belly up and there isnt nothing to buy.

[@jstone3699]

@@chazdomingo475 x

[@peskypesky]

Same for me, Ric. I had an older co-worker who brow-beat me into joining our company's 401k plan when I was 31. And he advised me to live below my means and invest as mush as possible. I followed his advice and that has allowed me to retire early...and I make more money per year on my investments than I did from my paychecks.

[@srirachahero4679]

"The Millenials don't offset the largest consuming generation in history" Dang. Now THAT'S a statement, right there.

[@charlescannon4986]

Well they could if they made good money and felt like they could handle taking on debt, but they won't because they've came to age through two recessions and the downsizing of people wanting things.

[@BroccoliBeefed]

They bought expensive college degrees that are worthless. They don't want cars. Many can't afford them when the average cost of a car is $30,000. They don't spend as much as mommy and daddy did, and their spending is erratic and fickle

[@TheorizingWithBen]

Craig Carson The population decrease and career women( through modernization & cultural marxism) defeat the point of supporting a family. That's the other factor of our population where women want to deny having a husband as a breadwinner. I haven't met a girl under 20 that wants to be a homemaker since there's no emphasis on a functioning household and however many lies girls believe about males being entitled to work. It disregards the lack of support guys get that have lead to any school shooting. It's also about continuing progressive credentialism since girls don't normally take on trades. I think it's a federal conspiracy through the DoEd.

[@TheorizingWithBen]

Craig Carson I don't believe women in the workforce is demand on the standard of living, but a more misandronistic outlook. 1. It started in the eighties when the SoL wasn't the case of necessity. 2. The treatment for programs that put women ill-deservingly "head of the line" from academia and many institutions disincentives meritocracy or a sense of a role. 3. The propagandized contrast where women believe men have everything handed to them, despite any empiricism. In fact, academia is where you pay to pretend to have a job, nowadays. Nobody is proud anymore and we're all waiting for a bus that's never gonna come in terms of satisfying careers. I have walked through a mall where an event sponsored by Barbie is telling young girls to become some sort of professional was the primary message. It's one thing for racial preference is done in the workplace, but I see this as an unrecoverable hit because it will also cause a population decrease like no other. Then Hispanics and/or Sharia law could occupy the West. Also, the women dissatisfied with the immense workloads do nothing but double down on the b.s. (no pun intended) and crash like Icarus in their ambitions of 90hr workweeks overseen by makework grad schools.

[@TheorizingWithBen]

Craig Carson I've never seen girls encouraged to be housewives at all. It's not an exception to have a career woman around anymore, but the norm & future. The competitive job market means corps can cut pay like this. It'd be healthier and better as a whole if more women left the workforce and were able to repopulate at all. I'm not paying a dowry to SallyMae loans for a bride here.

[@daqt6079]

I’ve been working very hard in construction and the like since the 1960’s. My work is very physical. I am solid enough that I could retire if I wanted but I absolutely don’t want to and I won’t. I can’t imagine anything more horrible than retiring. I am going to keep on going just as hard as ever for as long as I can. I hope to make it well beyond 100 and still working and I’m going to do it too. I wish long life, peace and happiness to everyone.

[@henrytep8884]

Your in luck... exoskeleton suit will get more advance in the coming future....but, so will automated construction printers/advance 3d printers.

[@shepherdsknoll8]

Daq t , yes, me too, be as productive, and a good role model as long as you can !

[@daqt6079]

pfifo fast, I already did start a business. 2 of them in fact and long, long ago. I do not take jobs, I provide them. If I retire, all these jobs I provide would go away. My people have asked me to please not retire and to take care of myself and stay around for a long time. But even if I did not own these 2 companies, retirement would not be good. All that experience and knowledge would be gone. Even the 20 plus year veterans often come to me with seemingly to them unsolvable problems that together and with my 50 plus years experience we solve. Many years ago, when I was just an apprentice, there was a man working on the same job as me. He was 99 and still going strong. He was able to keep up with us who were still youngsters at that time. We felt so blessed to have him as a coworker and because of his very long career, we learned so much from him. He said his secret to long and happy life was “to just keep on going”. And that is what I am going to do. What prompted me to post was that my take on this video is how difficult it is going to be for most to retire and remain retired. I am just suggesting that with a positive outlook and staying active for as long as possible one can still have a happy life. Hope you’re having a great day!

[@playlistmaker8472]

Daq t yep! Once you stop moving, you stop moving for good. Keep on the go and then we have reasons to keep getting up in the morning!

[@fabulousdolphin4221]

You are a TERMINATOR

[@danielhermanson7213]

We desperately need a follow-up video. The insight is incredible.

[@uk7769]

"The American Dream... because you'd have to be asleep, to believe it." - George Carlin

[@wcstevens7]

uk7769 ..Bless his heart..George was spot on.

[@danreynolds4208]

@@wcstevens7 if I'm not mistaken, the George that we're talking about here was constantly cursing the One who would be capable of giving that blessing!

[@matthewcastillo9951]

I’m just hope my dreams are better than reality..

[@blackworldtraveler3711]

Elizabeth Reign Castillo George was wealthy with over 15 million net worth. My home is paid off,consumer debt free,401k millionaire,substantial Roth IRA and savings. Didn't even include social security and pension in my retirement plans but look like I'm getting it ($60k/yr) anyway. I'm the millionaire next door. So I can laugh at the joke.

[@toastytopics2614]

'SMACK' The sound of reality!

[@juanmarrase9633]

I am retired and I have always been a minimalist, never worried about money since I have more than enough.. simply enjoy life and keep away from debt .🕶

[@raymondtorres3166]

I agree with you Juan, am retired divorce and living comfortable and saving for my daughters.

[@george25199]

My father always told me if you cant pay cash for something you cant afford it. Excerpt a house I paid it of in 12 years . retired comfortably

[@juanmarrase9633]

@@george25199 I like people that listen to older generation.. .age is wisdom..¡¡🕶☕

[@denasharpe2393]

Wish l had been as forward thinking as you

[@juanmarrase9633]

@EnvironmentTruthWarriior Taylor Inflation is not a problem if the Fed sets real interest rate...lets say 5% inflation .8% interest rate..real int 3%..the problem is when the gov fakes CPI..🕶 ..then is a form of stealing .for sure¡!🕶

[@PaulMangione]

Was exactly right on how large the Fed balance sheet was going to go ($8T). It just got there in 2021 versus 2025 because of COVID-19.

[@davidfoss4836]

Oddly, the more Trump steals and passes around to his Cronies, the easier it will be to pay off those pensions. Every time the squirming maggot passes out $6 trillion to his friends and cronies, the value of those pensions drops making them more viable.

[@ikaros4203]

yeah, the jobs/inflation reality gonna have to kick in aboute riiiiiiiight meow

[@abbuckley]

The real problem is the Federal Reserve who robbed the middle class and gave the money free of charge to the top 1% through zero interest rates. Whenever I hear the Federal Reserve chairperson talk about keeping interest rates Low to achieve full employment, I know that he is saying that I am going to funnel money to the rich so when I leave my position, I will get rewarded through “speaking fees”.

[@truthlove1114]

Truth

[@stevehady915]

Yet houses are selling at record rates to average working people.

[@Robert74450]

@@stevehady915 but homes that were valued at 100 k last year with zero improvements are now offered at 800k

[@stevehady915]

@@Robert74450 Where is that?

[@Robert74450]

@@stevehady915 in gatlinburg tn

[@LouMontana-wc7nr]

What person in their right mind would ever spend $70,000 dollars on a pickup?

[@Mywalkingblog]

Lou Montana have you never heard of “Texans?”

[@LouMontana-wc7nr]

@@Mywalkingblog LOLOLOL! Sadly YES I HAVE! They are flooding into Colorado at an alarming rate. Thank you so much for the much-needed laugh!

[@tyrannyresponseteam9534]

When you make a living with one you don't have a lot of choice's. Even the cheap one I bought is still 50G's Ouch!!!

[@Vinegarissweet]

A LOT! I used to work at a car dealership in TX. 🤦🏾‍♀️ They really like big customized trucks. It adds up fast.

[@jurlangomez3733]

A RIVIAN PICKUP

[@lorihamlin3604]

After being caught with excessive debt in 2008 and approaching retirement within a few years I pushed to pay off house, car and CC debt. I am now retired (depending on SS and teaching pension) with minimal savings but I have a roof over my heads, an older car that I expect to get another 100,000 miles on and my health. I feel much more secure than I ever did at any point in my adult life. I don’t intend on hanging onto life in a nursing home or my child’s basement.

[@watamutha]

A solid roof over your head, your health and some money to live on is all you need!

[@jameskelly6479]

Amen!

[@gusgrizzel8397]

So if the public wasn't taxed to pay for your pension, so you could stay home, what would you do? The majority of us do not get pensions. The money to support YOU comes from our taxed incomes. That's not right, and I don't care if you paid some pennies into it.

[@lorihamlin3604]

@@gusgrizzel8397 I worked for 20 years without insurance or any other compensation then went back to school nights to complete teaching degree and started teaching high school dropouts at 50 so I only get a partial pension for which I am grateful. The last 10 years that I taught I never got a raise. I’ve heard people who have no kids complain about having to pay high taxes to support schools but personally I feel that an educated public is worth every dime. I was fortunate to land a job teaching that I loved at any salary.

[@gusgrizzel8397]

@@lorihamlin3604 You're not the only person who paid for their degree. You're not the only person who hasn't had a raise. But I don't agree that anyone deserves a pension that the rest of the public can't get.

[@opus5770]

I'd love to see an update on this demographic thesis in a post-covid world, especially with how markets have reacted to stimulus packages in the first year and the rate hikes that followed

[@XianJag-oo1dw]

Most of this video did not age well, LOL.

[@northerniltree]

I've saved diligently for my retirement. My basement is filled with cases of scotch, some 18 year old. I have a stock pile of cigars, as well as rows of canned beans. I fear nothing. Thanks anyway, Wall Street.

[@wladicus1]

_ And of course, none of it means anything when your body is gone! _ Right now it is all in the mind.

[@fjack1588]

Make sure you have also guns and butter and some gold and silver. Ah and a water purifier.

[@kylienott2425]

And bacon.

[@fabulousdolphin4221]

@Mr MEMé im obese. I can last 4 months from my gut

[@redhatt69]

What's your address? ;)

[@jjuniper274]

Gen X here 1. Greater tax differed saving. 2. A mix of tax differed and after tax savings and investments. 3. Getting on a budget. 4. Reducing consumption. 5. Not going into debt. 6. Paying off ALL debt ASAP in your life.

[@jjuniper274]

It's why a mix is essential -- Real estate, Roth IRA, 401k, savings, investments, and an HSA, if you can get it, because we all know we will get sick and use money to pay for it as we age. Might as well get the pretax contributions that you don't pay taxes on when you use it...right?

[@paulkarmilowicz7751]

You forgot to mention that you must have equal amount of money off the table 😉

[@PeterWest70]

At 67 y/o I appreciate your deep look into our (baby boomers) future and choices. Thanks

[@roybrewer6583]

Great video, I can remember discussing the demographic curve at college in the 1970's. It was understood then that we would have a collapse in the number of workers to finance pensions. Here in the UK we consume too much, but nowhere near US levels. I downsized last and had a dozen large bonfires and filled 36 bin bags for the binmen to collect, gave gardening equipment away for free, yet still had more stuff to get rid of when I moved. I have enough clothes to last the rest of my life. Only need to buy food and replace things as they break. Biggest daily costs are energy. UK demographic curve is about 10 years behind the US, Europe is more like the states, Italy and Spain very bad outlook. Whole villages in Japan have no new births or anyone under 60. UK prosperity peaked in the 1930's again in the 1960's, false dawn in the 1980's under Thatcher and downhill ever since. I am not optimistic for future generations, a return to medieval poverty lies ahead.

[@threedogsandacamper503]

This is both fascinating and terrifying to watch again, in light of recent and unfolding events.

[@jackryan2135]

If your under 35 don't worry about a pension. It's unlikely there will be a functioning government anywhere in the world in 30 years.

[@JeezVince]

Im psychologically preparing myself to the idea of eating human flesh.

[@Macheako]

Don't care. Well worry about the future. But you ain't no fucking crystal ball reader.

[@nancysmith2389]

There will be government. Might be pretty horrific if everyone doesn't grow some balls and start digging for truth. The library of congress is a good place to start. Evidently, they do have to publish every stupid thing they have done to us.

[@shpazhist]

That's in case if we are all alive -- as fertility rates are falling, ppl are dying more and more like never before from cancer, the food is GMO modified and God knows what they also put into water too; thus, no surprise why population is getting reduced but that is not even mentioning what will happen to the society once the financial system will collapse (civil unrest? for how many years? especially when the society is so divided?)

[@WJack97224]

james, the "governments" might be tyrannical monsters.

[@lynneianhooper2695]

The boom that most people are experiencing is like a bomb going off, not the stock market.

[@wildwilly160]

I'm 57 and I know with everything happening I will never be able to fully retire.AMERICA is heading into VERY HARD TROUBLE TIMES.THE GREAT DEPRESSION IS NOTHING LIKE WHAT IS COMING

[@warpaint2145]

The most well balanced and articulate message I have had the privilege of absorbing. Everyone needs to hear and understand that their future should never be fully dependent on institutional instruments. Millennials, this is your time to let your creativity shine. Fabulous video, thank you.

[@mtpatton1846]

You forgot to mention that unseen medical expenses could, and probably will wipe them out...completely.

[@lynndowless5152]

I disagree with him that people will live longer. Job and business opportunities have dried up, but medical expenses never have dropped. Soon American citizens will not be able to afford health care . Health insurance doesn't even cover expenses anyway. I have met people recently who had the best insurance available, and were stuck with massive bills, soaking up half million dollar retirement accounts. I see life expectancy in Americans decreasing, personally.

[@tcb1012]

And now you know why the Corona virus was created... Conspiracy, I think not!

[@tcb1012]

@@mosheshekelsteinspanbergbl5624 🧐👉🤪🤪🤪🤪🤪🤪🤪🤪🤪🤪👈

[@traceykays433]

Don't go to doctors. Problem solved.

[@emzywillrich7243]

That's what I tell people all the time.

[@floesh-408]

If you panic, panic first.

[@edwardgaines6561]

What does that mean?

[@stevenmendoza5621]

It means, if you panic first you're ahead of the rest

[@owenbenjaminshapiro6285]

It means if you panic before everyone else, you win by not going down with the sinking ship

[@RazerSharpSoul]

@@stevenmendoza5621 Funny cause idiots who panicked in 2016-2017 have missed out on big gains.

[@CHURCHISAWESUM]

"If you're the first one out the door, that's not called panicking"

[@Your_Mossad_Handler]

This is why my long-term financial planning includes supporting my mother. I don’t know if social security and her 401k will still be there for the rest of her life.

[@scary_to_be_alive6483]

Stay really healthy. Have no rent or mortgage payment. Grow or raise most of your own food. Enjoy reading, bike riding, hiking. Surround yourself with a lot of really friendly people. Live off grid, don't own a car.

[@santanaet]

I really like your plan. May I add, swim 2000m six days a week. I am living that lifestyle right now in SE Asia.

[@mavenfeliciano1710]

Easier said than done.

[@lemostjoyousrenegade]

Exactly, Maven! MUCH easier said than done.

[@johnkosecoff2054]

I am a baby boomer and former money-center banker and investment manager. Raoul Pal is most credible in addressing capital market risks and the outlook for investment returns. I question two of his points: 1) whether deflation and 2) whether entrepreneurship. Raoul Pal attributes the 1970s inflation to material greed of baby boomers. Rather than attributing all to birth rates, I think the drivers of U.S. inflation were structural wage and price contracts with cost of living indexing, lagging demand following the 1960s robust economic expansion, unfunded costs of the Vietnam War, unfunded costs of the Great Society social welfare programs, and two OPEC oil shocks Global demand for the dollar grew as it achieved reserve currency stature ironically after being delinked from gold. Although my sense from monetary policy makers is that since 2008 their greater fear is deflation, I think that political interference is trying to talk the dollar down to make US manufacturing more globally competitive and increase labor utilization. Although the pendulum might be swinging from capital gains to relative labor gains, my sense is that labor has become an international commodity and that unions will not regain their membership anytime soon. So, U.S. consumers might suffer increased inflationary costs, but not participate in relative wage gains. As to entrepreneurship, necessity with drive some to venture their personal savings and energy and disruptive technologies will compel others to try entrepreneurship. But, financial illiteracy, the inherently greater risk of start up ventures, and the squeezing out of entrepreneurs by larger companies and capital pools will make entrepreneurship is hopeful, but less than compelling force for renewed U.S. economic growth.

[@tdoggo7614]

He is making a lot of over simplified assertions that are not backed by statistics. Inflation kicked off by a combination of rising energy prices and the gold standard removal in 1971 to fund the Vietnam war.

[@georgfriedrichhandel4390]

I'm 61 and I don't expect to be able to fully retire. I'm luckier than most in that I'm a small business owner so I can still work if I have to, albeit working fewer hours than before depending on the state of my health but I'm going to tell all the young kids watching this video what I've told my own children who are now in their 30s; barring any million-dollar inheritance or winning the lottery, you will most likely not retire ever so be prepared to work even part-time when you're in your 60s or older. And the simple truth is that the incomes you will earn will not be enough for you to be able to save very much, especially when you have a family. Of course, try to find a good retirement plan if you can (and I don't mean 401Ks because they're garbage) but even then, you should expect to work for as long as your health allows you to. I wish you all the best and Happy Holidays.

[@cristinasv9513]

Agree completely with you. If you are healthy enough to work, why not to do it, even if it's a part time. I'm retired and work 30 hours a week and plan to keep doing it as long as GOd keep me strong.

[@legacyrydeshare3478]

Wow‼️ I thought he was talking to me about what’s going on today because of the pandemic. Then I looked at the date, 2018‼️The year will one day be 2030 and this post will still be relevant. Today is 2021.

[@veefriend4201]

I do not agree that it would be cheaper to eat at McDonald's than cook for oneself. Look at the girth of people, especially those who frequent poison outlets like McDonald's. If people eat sensibly and cook meals like stews and hearty soups, that require just a little meat, or no meat at all, this meal can stretch for several meals. Cook from scratch. Make all your own condiments, etc. Your dollars can stretch if you use a little forethought and planning. Eat a lot of raw foods. This doesn't use energy, so you save there as well. Regardless of this, the future does not bode well. Scary.

[@jackmckenna8410]

please shop, cook and clean up for me, I can't bear to.

[@veefriend4201]

Only if you pitch in and share all. After retirement, it's rather therapeutic. @@jackmckenna8410

[@zprodigalson]

True. Fast food isn’t cheaper than cooking yourself. At least not here in North America

[@on_another_level5661]

It is DEFINATELY more affordable to cook/eat at home. Its also a myth that eating healthy is expensive. Its an unfortunate excuse of people too lazy to cook at home.

[@dollcollector1882]

Agree with you. In addition to your statement, you are healthier & can avoid visiting your physician too often.

[@DaMu24]

Don't trust anyone with your finances.

[@greigsanderson]

Apart from the banks...............They're too big to fail.

[@BigTomInTheBasement]

Did you know that the money in the bank in your account isn't yours? If the bank is insolvent, they can keep your USD deposit to satisfy their debts. You then are supposedly insured by an organization with less than 1% of bank deposit reserves available. The USD isn't even real money, it's only currency. Our currency is a debt instrument. The Federal Reserve Note is a debt instrument signifying the US Treasury owes the Federal Reserve in USD. It's a huge scam started in 1913. The people of the USA were deprived control of their finances in 1933 by the great socialist FDR. We shouldn't trust our government with our finances either, but we don't have much choice do we?

[@wmcbarker4155]

we could return to being cavemen @@BigTomInTheBasement

[@BigTomInTheBasement]

@@wmcbarker4155 We could... it may even become necessary. We'd all be better off using real money as a medium of exchange instead of the giant scam being run on us right now and since 1933. You think you'll get anything out of your house equity before you retire? Will you get to retire is the biggest question and I don't think I'll be retiring.

[@seminolerick6845]

My folks had a good investor... made them a lot of money... helped them retire comfy. I am sadly , pissing away what their remnants granted me upon their passing. I am terrible with money...

[@lisamay5649]

There is a real reason why the Baby Boomers did not save enough for retirement. The reason is because the cost of living has skyrocketed and because wages have stagnated over the past 30 to 40 years, leaving these people in a financial bind.T his has crippled their ability to save for retirement.

[@jwardTLS]

You really believe that? In 1985 the Dow was at roughly 1500 points. A baby boomer hitting their stride in their 30's at that time could easily be a multimillionaire this very moment if they simply didn't borrow to the moon and back. The problem is a debt culture and these idiots taking car payments, big housing payments, credit cards for everything from furniture to TVs to appliances to home repair (most HVAC companies finance furnace replacements for a reason). It has literally nothing to do with cost of living and utterly everything to do with piss poor spending habits. A consistent investment into the markets over the last 35 years of even $200/mo would be worth an insane amount of dollars today. Life choices matter.

[@davidsummit9851]

It started in 71 of th gold standard. The image all the people generation. Give a child a silver coin today

[@GMac5409]

With the expansion of "mass media" into everyone's living rooms and cars, the post-WWII generation began to be bombarded and beguiled by radio and TV ads telling them about all the experiences and "good things" they should be wanting / having. Then, we were off and running. Prior to that time, the usual period for credit (if using it at all) was to pay your bills within 30 days. BUT, along with the new mass market radio / television advertising came MasterCard and Visa...and, we all know how the "put it on plastic" craze destroyed the financial common sense of too many.....

[@notme4565]

Lisa May AMEN 🙏

[@FORTHEBY_BY]

VeryCleaverName Give me a BREAK! Myself and my five siblings worked our A$$ES asses of our entire lives, paid into the RETIREMENT SYSTEM (TAXATION) and PERSONAL RETIREMENT ACCOUNTS. We DESERVE retirement. I’ve worked since I was 10-years old. We had NOTHING material growing up. We hand hand me down clothes. We did not have cell phones, video games, computers, laptops, 5 pairs of shoes, a TV with a remote or more than 13 channels. You youth are simply ENTITLED, SPOILED, NARCISSISTIC BRATS. No wonder the suicide rate, school shootings, gangs and violence is so rampant today.

[@terrywilkinson1570]

What a superbly delivered concept. Easily understood from the beginning to the end. Very informative. Even more interesting as I am seeing this 2 years later . Being part of the boomers I am very much enlightened.

[@marksteven3534]

Soylent Green is People !!

[@georgeiscooking.1152]

Yeah. But it's cheap. And tastes pretty good!

[@rockerchick4368]

😂😅😂😅😂 I just found that old movie, on KZbin!

[@mathewjudge219]

Mark Steven ,.mmmmmmmmm.... people

[@jesseseonza2929]

Shhhh!! No it is not. It is a high protein sea algae with wonderful nutrients in it. Now you rioters were gonna scoop you up with our fancy bulldozers. And bring you to a free tour of our delicious Soylent Green factory.

[@jesseseonza2929]

Hospitals are practicing Soylent Green last day Hospital

[@briangray925]

my retirement plan is a tent down by a river

[@freddykrueger6571]

You gonna need a pay each day to rent that space..

[@lawrencekochell4442]

Get a van be the man in a van down by the river lol

[@briangray925]

Good idea upgrade to Chris Farley's living in a van down by the river lol

[@briangray925]

Well maybe I'll be senile so it won't bother me lol

[@jesseseonza2929]

Tent living will be a epa violation humans will not allowed to carbon emission our forrest. Filthy humans. People will worship the planet simultaneously also exterminate the old Ideologies

[@Steamerbeen]

These politicians need hanging for all this mis-management of our tax money & corruption.

[@EnderViBrittania]

Government is fundamentally an inefficient and broken system. The biggest corruption however is the central bank, because it manipulates the currency and artificially makes money cheaper to make everyone get more debt. It is top down central planning, but no one talks about it in the mainstream.

[@paulsuprono7225]

Your/our best bet . . . VOTE them outta office. What do you replace them with . . . potentially a REPEAT EXPERIENCE ! 😝💀🇺🇸

[@mosheshekelsteinspanbergbl5624]

@@paulsuprono7225, voting is treason, now that it is obvious the elections are rigged.

[@jameskelly6479]

@@EnderViBrittania it all started on Jyke Island in 1913- we are paying for that now.

[@midnightsnack1306]

Iam beginning to understand why there are people who want smaller governments

[@phylwilson763]

It is now late 2021 and this was spot on for today's outlook. Just look at the boom with tiny houses.. I'm 75 and still working. Only problem is that this gentleman didn't take into account a 100 year pandemic.... Jesus save us.

[@WitchMedusa]

Its kinda funny tho

[@cherylclarke4342]

One of the best, simple to understand “finance” informative videos seen.. THANK YOU for posting!!!👍👌

[@dickmorhead6165]

It is not cheaper and easier to buy fast food than it is to cook food for yourself.

[@youngsamuel1]

Much cheaper.

[@theprodigalson1658]

Horrible for you health if that’s all you plan on eating

[@MNGirl96]

Yeah, that one kind of got me, too. I'm 60, and my grocery bill was $88 last month. What fast food can you eat for less than $3.00 a day?? You can't. And okay, maybe it's easier, but if you make all your choices based on what's easiest, you're going to have bigger problems than how much you spend on food.

[@tyrannyresponseteam9534]

I think at one time it was cheaper to eat out.... But not now, eating out has gotten expensive these days.

[@davincimen4495]

Totally. So pricey. I’m glad I have bulk food storage with which I bake my own bread which is vastly superior to anything I could buy which is almost all toxic and sprayed with roundup.

[@stevenpadilla4294]

I predict caravans of elderly Americans leaving for Honduras. The irony.

[@NicoTNN]

This is what I plan on doing for retirement. I'm serious. I think its a bad decision for Central-Americans to leave that lush land, but if they don't want it, I'll take it!

[@stevenpadilla4294]

I’m about 15 yrs from social security so I’m already thinking about either living in an RV or living in the Baja or maybe Asia. I’ve lived in several places in Mexico and don’t speak Spanish. Mexico had its issues but I’ve never seen the violence.the u.s is just too damn expensive.

[@landonschannel6769]

That's not a prediction it's a reality. I urge you to look at the real estate prices and trends in Costa Rica and Panama. Many US retirees, particularly those from the forces who are familiar with Central America from having been deployed there are buying real estate in those countries for retirement. Resort style condos are being built by the hundreds.

[@stevenpadilla4294]

Landon's Channel I’ve been either looking to stay close like Mexico or somewhere like Vietnam or maybe Uruguay/ Argentina.

[@justinajones3000]

@@NicoTNN I went just a tad further to No. Colombia. Better than Central Am. and less expensive.

[@1powerequalsgod]

It’s 2021, an much of the information is still valid even if it was presented some years prior .

[@lorinlewis133]

This was well done and well thought out. God bless

[@hogroamer260]

Very inaccurate and speculative.

[@nneichan9353]

I saved, but then I became disabled. End of story. There should be more freedom to live in tiny homes, Vans, campers. Not homes with horrendous rents. Or appallingly maintained units. Reasonable costs.

[@michellee2990]

I would love to live in a tiny house. I live alone , so it would be perfect. I don't think I would mind living in a camper if it would help me financially.

[@PraveenSrJ01]

I thought my life was hard and unfair but I’m extremely grateful and feel better after watching the video. Wow 🤩

[@ricky8alta]

I bought 2 brand new pickup trucks in my 20s, now in my 40s, I'm buying used vehicles now... so, age does make a difference in spending behavior

[@DianeHasHopeInChrist]

I work with dozens of 62yrs and older persons. Sad.

[@jeupater1429]

Sad for millennials

[@janibeg3247]

Work at least until you can get full social security. If you can work to age 70, even better.

[@genli5603]

60 was retirement when that was the average lifespan. Now it makes no sense to be retirement age. Might want to shift to part time and redefine retirement with a transition part time job.

[@vincentconti3633]

@BruderShaft1 believe it or not I first heard that I would never see a SS check when I was in high school....in the sixties..I guess they were wrong!! There is a myth out there same one really that us boomers being such a large generation will put a great burden on the system and bankrupt it as you are suggesting. The millennials are the largest generation ever..add to them generation x and whatnot and guess what!! You have an America that is fairly young!! Which bodes well for the future

[@vincentconti3633]

Jesus lady 62 ain't old!!! At least I hope not...I'm six years past that and when my arthritis isn't pesterin me I can do pretty much anything I could when I was 18....with one exception!!!!!!

[@douglashughes2331]

This is the perfect recipe for the next great depression.

[@TheorizingWithBen]

Douglas Hughes Let's be honest. The Great Depression provided a lot of interesting stories. "Suddenly, grandpa recalled how to traffic moonshine."

[@oroville12345]

It's already here

[@Getloose360]

@@oroville12345 2021...hyperinflation is imminent thanks to money printing aka QE to infinity and stimulus checks. This world just went batshit crazy due to a plandemic psyop, wealth transfering ponzi scheme.

[@jameskelly6479]

I think it's going to be called the great reset.

[@fanghicheck]

@@TheorizingWithBen mine saved till the G men went after him . moved too oregon bought 40 acers with some old growth 7kids they never found him

[@carloslievano2303]

Brilliant content “when “ it was done before COVID-19... We are in 2021... please expand on it !, It needs it.

[@jamestaylor2508]

Retirement my ass there’s a lot more of us in our late 50s or older lived paycheck to paycheck most of our lives unable to invest in anything and many of us will wind up on the streets because we can’t afford the rent of today the cost of living In general . For those of you talking to people who can retire you’re missing the tsunami behind your back it’s already here and for many of us it’s way too late. You young people have a very rude awakening coming your way when you reach our age and my heart goes out to you with all been made slaves of debt.

[@youvasquez]

Debbie downer....but youre right for a lot of people.

[@kennethsumerford3480]

A lot of the problem is that if you lose your job past about age 45 then it is difficult to get another job that pays even 90% fo the old one and your new job may pay about 50%.

[@Angel-nu7fm]

@8Lights8 True. Many who cry they live paycheck to paycheck, look at their lifestyle choices - not all, but most -

[@harrisonc985]

James Taylor The older generation sold themselves into slavery when they gave away control of the fed in 1912. If you look at this issue from the financial aspect, the devaluing and iminent collapse of our credit system is causing this.

[@Angel-nu7fm]

Folks, you get into debt by spending what you don't have...DUH!!!!! Now it is everyone else's fault.

[@idid1866]

Most, will work till their dying day!

[@RonHelton]

Nothing wrong with that if they enjoy their work.

[@Dangic23]

That's why I have enjoyed and traveled whenever I get a chance. Better to enjoy while young, and not when you are too old or too sick. I'm a Gen X

[@lindakachur4862]

i was born in 1951. Nothing seemed to come to me easily, ever. I worked 3 jobs to save up for an excursion all over Europe in 1976. I had planned to do this after finishing college, but a prompting in my soul urged me to do it NOW!! I spent a lot of time and money flying to the Hawaiian Islands to hike the mountains and valleys in all the major Islands. I am so grateful that I did it. I am still working, from home, at the age of nearly 68.

[@paulad.4578]

I traveled a lot as a young person. I'm glad I did. Don't know if I will have that opportunity when I get older. The time to do it is now.

[@CHURCHISAWESUM]

Gen X, the most financially unprepared generation. This video should be about their retirement actually.

[@juanshaftpatel7488]

@@CHURCHISAWESUM why do you say this? im not poor like you

[@John-vj6ss]

Pegasi A lot of gen X is still in their prime earning years. Who do you think will bear the brunt of the boomerpocalypse on the front end? With boomers delaying retirement, that delays the gen X career path, which delays the millennial career path, etc. which would be fine if all that means is shifting everything forward, which has already happened to a large extent, with millennials delaying marriage, children, etc. The biggest wildcard is what will happen when the boomer retirement spree really hits its stride. It does mean fewer in the labor market, which you’d think would mean more jobs, more opportunity. But the draw on SS is something the US is not prepared for. The truth is, humans are worse at predicting than pure chance. Might as well toss a coin. Most of any economy is based on human behavior, which is only moderately predictable IN THE AGGREGATE. Individually, it’s almost entirely unpredictable. Beware the fear mongers. There may be speed bumps ahead or a complete catastrophe. Some things are foreseeable. Most things aren’t.

[@newchicgal]

Thank you so much for this informative video. Although I don't stay in America, a lot of the demographic factor still applies to my country. I am one of the babyboomers and my parents started the family from the one room government flat. That's the smallest flat/ housing in Singapore in the 70s. Fortunately, my mom believes that education could get my sisters and I out of poverty. She also had the wisdom to apply for a larger flat with 2 bedrooms so we could be out of the poorest neighborhood. Mom had little education like dad but she knew that we should keep upgrading our home. With the increase in prices of government housing over the years, it has proven that she has single-handedly pull us out of poverty. Like what was mentioned in the video, I didn't want to suffer like my mom, putting up with an abusive husband and working shifts just to ensure her 3 daughters had the means to get the education. I tried to turn the other way, enjoying life when possible and buying everything that my mom never had the chance to use or wear. I want to retire at 57, after completing my 30 years of teaching (sadly no pension since I started in year 2000). However, the dramas in my life made me restart in my late 30s with no savings, becoming a single mom and the sole bread winner. I worked long hours with poor lifestyle, no exercise and little sleep. At 48, my body broke down and I had 3 surgeries and 2 other hospital admissions. I realized that I can't work till 68 to retire. I may not live till 68 if I continue working long hours, have little exercise and have poor health although I love my job. I started planning for retirement when I was 47. I only have 10 years to payoff my mortgage, save and invest. This video is truly very informative, I will continue to learn and refine my retirement plan. Thank you.

[@MeColinYouWho]

The Wall Street plan (401K) is, you give them your money and they spend it and say sorry, it's gone.

[@RaptureHead1993]

Yup saving accounts as well

[@brentwdeppe6624]

Do you know what happened to the UPS retirees?

[@MeColinYouWho]

@Anton Zuykov You are totally wrong.

[@andymonk9505]

Our pension fund has been in critical status every since I retired in 2009 because a lawyer and a bank made some illegal investment.They dragged the civil suit long enough for summary judgment and only paid back pennies on the dollar.There are several Union pension plans in trouble.They submitted 15 year recovery plans that changed the early retirement rule of 80,years of service plus your age add up to 80, to 85 and did away with it totally and made it so you could retire at 55 with 30 years of service.Changed the multiplier from .038 on $100,000 contribution to .001 and then raised the contribution rate from $6.35/hr to $6.70/hr 6 months after I retired at age of 51.

[@lindareyes5612]

RiffRaff 😂👍

[@ts31966]

This is the best video on KZbin. Thank you!!!

[@CCRob720]

Now:July 23, 2020....I can say... The fed, bought the dip.

[@benhawkins6510]

So much for my generation having a buying opportunity, fed was too interested in handouts for the mega rich.

[@superduper9357]

Never has so much wealth been held in so few hands since the middle ages in feudal Europe. The Fed is your new Lord surfs!

[@MR-wc9lh]

@@benhawkins6510 - I didn't know the fed actually is buying stocks to prop up their prices, I thought the fed was keeping interest rates at zero to encourage stock buying by the public. The fed shouldn't be buying stocks, this only benefits a fraction of the population. It would be better to treat the whole population the same and and give everyone a refundable tax credit; that would be more in line with Biden's philosophies.

[@phuongpham-of2fb]

Could you update this with the printing of money plus the stimulus? Thank you

[@marktravis781]

Excellent video!!! Of the hundreds of economic videos I've watched, this one stands out in my mind to make the most sense...And yet demographics is largely ignored among economists. Thank you for giving me "real vision"!

[@geoffnorton9279]

Living in Spain, originally from the UK, retired early as have many more Northern Europeans living here. Everything looking great until the CV Scam started. I realised some years ago that I might not see my government pension. Sadly, most other people are clueless.

[@susanapollo284]

Deep and wide analysis of where we are and where we are heading. Thank you

[@Sunnahiman]

Excellent Excellent extremely informative and true. I am a baby boomer and seen all that you're teaching 30 yrs ahead. Thank you for confirming what I believed what is happening. You gave me more insight into surviving my last yrs ahead. I am now trying to teach my two daughters who is in their 40s. My concerns are the future of my grandchildren young children. Living together is a economical blessings, not using credit cards cash no interest. Also we have been consuming throughout our work lifestyle. We need the basic and you can have a quality of life. Its the debt that cause bad health and an early death. Thank you African Americans 66yrs wise. Retired 2010. Living a simple wholistic life . Peace and blessings. Youre a gift to humanity ❤

[@FranciscoHernandez-vm7qn]

I have the Chris Farley retirement plan: I live in a van down by the river

[@jaddy540]

Raise rabbits for food. Very efficient and they eat weeds,etc.

[@kanaler5924]

With no toilet, hoping you don't use the river for that, other then that sounds alright

[@HiroNguy]

Blue Highways lifestyle!

[@robw3027]

In general terms I agree, without claiming to have a detailed knowledge of economics. What I see however is an increasing number of older people are simply not in a position do anything about it. This situation is IMO showing itself in increasing numbers of older folks living on the move in RV's. Also the influx of older gringos living in say Mexico. I believe many are there not for the climate, but for the lower cost of living.

[@andrewgates9333]

Both

[@feaale]

Real vision is the only subscription that i never regretted paying for. Love the way Raul put things into perspective.

[@gordongekko2781]

It's now late 2021, and the results are in...Raoul Pal gets an A- on his predictions. He was correct in most of his analysis. The only error is that he seemed to think that the next recession was going to crush Baby Boomers. It did not. It only served to concentrated America's wealth even further into the hands of investors. The Federal Reserve has proven quite effective at propping up the economy (and markets). Asset prices have quickly soared far beyond the already over-priced levels they were at before the 2020 recession, so investors are even wealthier now than before the recession! It seems the Fed is insuring a comfortable retirement for the Boomers, which means trailing generations will have to pick up the tab in the form of weaker returns on their savings/investments.

[@davidhughes6]

he was wrong about saying that its almost impossible for inflation to come back

[@alfonsohorcajada4399]

He was wrong on inflation. It only takes Putin and a war to turn things round, gas, food prices, interest rates etc all going up

[@gordongekko2781]

@@alfonsohorcajada4399 Well I can't fault the man for failing to predict that Putin would invade Ukraine. He's not clairvoyant. He was just analyzing the economy based on the data at that time.

[@alfonsohorcajada4399]

@@gordongekko2781 my point is that all predictions are flawed as you never have all the data...

[@ItAllStartedIn89]

Maybe we need to take a page from other cultures and make strong family ties and multi-generational homes normal and acceptable.

[@tomlxyz]

But why when the houses already exist

[@RobinWhistles]

@@tomlxyz if they did we wouldn't have a housing crisis

[@AZeeee]

too bad they dont make proper houses for multiple families any more.

[@MsStanleycat]

Doing that now and it helps a lot.

[@TrollinOn22s]

I was born in Barbados and I have 4 siblings back home living with my mom. My mom gets a pension so she has no worries and I don't think I'm gonna retire in the USA as property tax doesn't exist in many countries.

[@landlubber42069]

I love when the doom music starts playing

[@gasparaangeles7411]

lol

[@breckandy]

Me too. Great music for polishing off a bottle of Jack Daniels