It’s really disconcerting to me that my teenage kids already believe they will never own a home, have a decent quality of life, or be able to retire comfortably. The scary part is the effect this aging population will have on our healthcare system. I bought all of them some Bitcoin and taught them how to save for retirement early so they can avoid this conundrum. Thanks James, intellectually stimulating as always.
And also in Canada, you can only access your pension early if you’re dying or leaving the country. You get partial if you’re marginally broke. Sucks coz it’s $ you own and someone else decides when/how u get it.
Children went from being a financial asset to a liability. Families went from needing one parent working to support a household to now needing two. It's a wonder there are any children being born at all. It's become a very unattractive financial situation, especially for educated women with no possibility of affordable child care. It's only going to get worse.
I'm 18 and planning to retire around 30-40 years old. Never even considered pensions because I don't even think we'll have any by the time I'm 70. Just gonna keep DCAing BTC on the bear markets and alts on the bull markets. Great live stream as always, James!
Great goal, but don’t forget to raise a family. Most rewarding thing you can ever do especially if you’re financially independent. Pass down your good values to the next generation. All the best in achieving your goals.
@@stephenshanebeaty Do you know this person? What makes you think he/she is afraid of work? James retired early and is helping others to have choices in life. He also does this for free because having secured financial freedom himself can afford to do so. I’m grateful that James has retired so he can devote his time to helping others. All the best
This doesn’t make sense James. Why would a retired administrator get 400k a year or a sanitation worker 285k? Why are they receiving more when they’re retired than when they were working? In Oz superannuation is compulsory. It’s 9.5% of gross income. Employer pays into the account. Teachers, nurses, mechanics, chefs etc all get this. Most public servants too. However the police and military only have to work for 20 years. Senators only have to work for 7 years in Western Australia. Most Australians are unaware of this and given that their taxes are funding this, should be aware. Public servants including teachers in public schools used to get a very generous pension and could retire at 54 and 11 months on 70% of their final year’s salary and indexed for life. Not fair in my opinion that today’s workers on far less generous entitlements have to work until they’re at least 67 years to fund these lucky guys.
Great Video James! I'm from Germany and I have to say, I'm really afraid for those who don't invest for their retirement themselves, but instead lean on the government. Our chancellor Olaf Scholz said in an Interview, back when he was still finance minister, that he thinks the German retirement system delivers a better return on investment than most equity funds. Right before that he admitted that the government has to subsidize it with 100 Billion per year, but that's how it's supposed to be in his option. Also when asked about Norways enormous sovereign wealth fund and what we as a country can learn from Norway, he replied dead serious "nothing, because Germany has no oil." Also in another interview he said that he as the finance minister keeps all his money in his regular bank account. This arrogance really frightens me. How can you say you can learn absolutely nothing from a country that's obviously doing very well with it's strategy and that you yourself are doing everything right. I think that attitude is really dangerous, not just for the safety our retirement.
Woah he really said he keeps all his money in bank account? I mean sure u can if u steal enough money than u don't have to worry for your retirement Same is in fking balkan..Politicians here man, priceless
Great video James, thanks! The key to a successful retirement is to have your eggs in multiple baskets. I turn 67 this year and will start drawing on S.S. next year. I have passive income from 2 rental properties that are paid for. I have a small bag of Crypto (albiet really down now); a bag of gold and silver coins; 401ks and Roth IRAs; and wealth in art and valuable collectibles. If you do not diversify, you are screwed!
Something happened to me this morning! As all the information I’ve digested from Jame’s pod casts coalesced into a linear thought that allowed me to articulate cryptocurrency and particularly BTC in simple conversations with colleagues and friends that turned lights on in their eyes about almost the very specifics of this conversation! Thanks James, I’m forever in your debt! I’m just sayin..
@@InvestAnswers it’s a tall order in a limited character format. But, one of my first conversations from this morning was with a client that called for a status report on his project. He asked what the BITCOIN logo on my email signature was about. I started with a broad statement about the greatest shift in wealth in human history and Bitcoin’s potential to create life changing wealth in the average persons life. The conversation dovetailed into his negative experience with cryptocurrency and eventually ended with him inviting me over for dinner to discuss further. It was the shift from absolute negativity about the crypto space to one of curiosity to understand a different perspective that shook me a bit. I don’t think of myself as a very good conversationalist. But his attitude was genuinely changed in a positive way. I found myself “wasting” too much time talking about the subject of centralized and decentralized economics with others throughout the day. All with the same basic start and outcome. I try not to apostatize, it turns me off! So I must have found a way to resonate with them at a level they were open to.
The wife just requested a pension payout to be moved into another iTrust Traditional IRA for crypto investing. I think this is the best choice. I also changed jobs a lot and always moved my 401K's into a self-directed Traditional IRA's as soon as I could (but not crypto). Other than that, we both have Roth IRA's now moved into crypto.
James, you always nail the content! Absolutely stunned how you and your Team chooses content. You covered so many of my personal dilemma. I'm swiss...like you;). You know we grow up in a system of security and future promises. I broke out of the system 2018 but still feel uncomfortable...the mind is a strong memorychip. Not asking you to tell me what to do but if you would be me: struggeling with taking the pension funds (2A/3A), building a House in Indonesia, earning with renting guestrooms out, having time for my family in Indonesia vs. "Stability" & Security in Switzerland...which one would you choose. i would really appreciat a answer from you James. Thanks for everything you do!
WOW James, OK that was a tough one to sit through, not because it was not good information but because with having retired recently it got me thinking about my pension and the current inflation. Thank you for the time you put into these videos. Great information.
I am ahead of you James on this one. Cashed out one private pension last year into BTC. Great to see your view on things as always. My wife says your the best.
I'm a retired public servant. I started buying Bitcoin heavily in early 2017 at $3,000 AUD per coin and I'm a multi whole coiner. I retired early in 2021 at age 41 and I am living off my defined benefit pension. All my workmates thought I was absolutely crazy buying Bitcoin and as much as I tried to explain to them that if they combined Bitcoin with their defined benefit pension plan it's one of the ultimate savings and investment combinations. Now I live off my pension and I dollar cost average out of Bitcoin if and only if I need to add to my pension. I take off to leave Australia to live in Thailand in August.
⌛📢This information should have been drummed into everybody from an early age. With all the bright minds out there, we could have collectively come up with a better system. Ah hah💡, we have🤔its called crypto🔔🌬
There are plenty of people for most jobs, the big problem is that most employers are basically looking to pay minimum wages on temp contracts. The C19 issue has been used by a massive amount of companies to lay off workers, now they are looking to rehire people on temp hours contracts and much worse wages. Also every company is and has been replacing staff with technology at the earliest opportunity meaning that the jobs are disappearing, the governments should have taxed companies extra for every job they did away with and replace with a computer
i think the real average annual pension is for either NY or Calif govt worker is closer to $50K, not high six figures...I think those few high pensions were outliers.
I see all the comments, about owning real estate, rentals, crypto, gold, art etc.. To suggest they do not rely on the state for a pension.. This is fine but just like pensions potentially being a ponzi scheme... Is it not the same for any of these investments?.. To increase in value or perceived value, All investments require more people piling in and battling to acquire those limited commodities... In terms of attributing the definition "ponzi" It's seems the only difference are time scales. I get the differences between asset investments types regarding utility, inflation resistence, liquidity et al... but at the heart of it, all such hard asset investments rely on something like ponzi system to retain value across time. I think it much the same for venture capital investments...which at their heart rely on continual growth of market share. With trading, someone has to lose for another to win... I hope I am wrong with this view. All counter arguments welcome.. We are all learning. Edit... I want to add that I think BTC is currently fastest horse or the asset with most potential in medium term, if it hopefully reaches market share of something like gold or real estate then it will perform more like those assets.
Best vid for a while. Must have put a lot of work and thought into it. Thanks. Many pension scheme's in the UK are average salary now rather than final salary. The terms get worse all the time so who knows where we'll be when I retire. A scary thought.
Hi James, thank you for this eye opening video. Kind of all ready know about that, but its nice to see it expose and back up by numbers. How about insurance company ,where you pay every month and supposed to cash in when you retired??? same stuff???
🙏 Great synopsis. The 3 active to workers to 1 retiree was never sustainable with the consequences of an ever- growing world population. It’s time to rethink the world’s economy or so it seems. Not sure what the possible solutions might be, but that would be a fascinating in-depth video in the future! Your time and analysis is always appreciated James.
Another partial solution to the pension issue, although it is not a short term fix, is for the government to incentivize people to have more kids. In an urban environment kids are financial liability. Government has to make it cheaper to raise kids: free daycare, free dental and medical care, free university, subsides on healthy foods for lower income people, maybe a lower income tax rate, etc, to reduce the cost of raising kids.
Should do a video with Patrick Boyle he's a clever guy and very witty. A finance guy too but not a huge fan of crypto. His videos on luna, meme coins, etc are spot on.
I consider this not as bad news, but as realistic news. Better to hear this and make a plan - while we can - then ostrich further and have problems later in life because we can't handle "bad news". So, thnx for the vid!
there was a poll on linked in on what's an average working person age , about 50k people participated, so essentially it looked like this : People with 10+ years experience working 60% People with 5-10 years experience working 30% and 10% everyone else working, so essentially it means that when that 60% with 10+ exp retires, there will be not enough skilled labour to run the economy big time
I wish we would go back to the term “Rob Peter to pay Paul” instead of Ponzi scheme. It may make more sense to people. Plus, that was the phrase used before Ponzi (as well as by Ponzi).
Obviously I don’t know the extent of your convo with the 78 year old cashier but many retirees do this work to socialize and feel useful, not necessarily to survive. I know this because this is what nearly every working class retiree I know does. That said, I’m here because I hope to not have to rely on my current retirement.
I asked her why she was still working - she said she needed to pay for rent. The saddest thing was I could see her hands they were completely arthritic she could not even open the shopping bag. It was truly heartbreaking her back was hunched over and she definitely did not want to be there.
@@InvestAnswers I should have known you spoke with her. This scenario is what drove me my whole life to work my ass off and retire early. Now just trying to ‘coin up’ and protect my freedom. 🙏
I have 38yrs before my retirement savings are made available to me by the Australian government. That's why I have a self-managed superannuation fund instead, which just stacks Bitcoin. The Australian dollar won't be here in 38yrs lol, there's no point in having assets denominated in fiat over that time period.
Spent 20 years as a pension trustee of a final salary defined benefit scheme pension. The company could no longer afford the guarantee and all future funds coming in went over to a DC pension. This was my cue to leave I worked on my property portfolio and left the day job and invest where I want now. UK state pension age is getting higher and higher you cannot rely on anyone to look after you least of all the state make change now you won’t regret it!
Friendly warning. 5Y chart pattern is making a horrible head and shoulders pattern. First head and shoulders on btc broke mid April. Could be heading for $10-20k.
What an eye opener!! You are the truth we need. What do you think about work pensions that work essentially like portfolios? They may not beat inflation but its a small hedge. BTW its a legal requirement to have a pension in some countries
When wages have been going relatively down for decades more workers are required to support pensions. The cost of low wage’s amplifies the pension problem. Basically the top wants two classes. Rich and poor
the math is different this time, but they will print money to fund it I reckon. they have to or else there will be a revolution. Either way QE to infinity
True, but they have raised the retirement age for collecting social security to delay paying some of us who thought we could retire at 65. (we're not that old yet, which is why it is not that widely known).
I don't understand why people compare what $1 could buy 100 years ago to today. One of the reasons why governments print more money is when the economy is growing. The problem with printing money arises when it's done faster than the velocity of that money as the output of a productive economy. If $1 could buy the same amound of goods in 1922 and 2022, then you'd likely have a really big problem - an economy that didn't grow its productivity over 100 years.
in the UK we have a lifetime allowance on pensions, about £1.1m, once you have hit this tax in your pension makes it illogical to keep saving in a pension, another reason people get out early
I am a govt worker and the city has said they have to make a large contribution to pension to make sure they meet their obligations. Some cities don't and have to cut their pensions. We will see if they can continue these huge payments in the future. Thank you James for talking about this issue and giving us the tools to find a way out. MATH MONEY FREEDOM
James! Are u forgetting a lot of the retirees just got killed off via covid? They can just come out with something like this every 10 years and problem solve 🤨😱😱😱
Fantastic and very important macro analysis James. But what will the factor be of the coming exponential technological explosion. The fourth industrial revolution with AI, quantum computing, biotech, all round automation and robotics. Great minds are very positive about this like Kurzweil, Kaku, Harari, Wood, Musk etc. Can you do a comprehensive deep dive analysis into this? Maybe with an expert on these subjects. Maybe Raoul Pal or somebody with an macro-global-economy-technology view Thanks 👍
re: shorting Tesla a la Mr. Gates (from the "What global investment banks do" section) --- Not only is BG shorting TSLA, he is shorting human beings by way of his neo-Malthusian "philanthropy" work, among whose many harmful consequences are the issues you discuss in the first sections of this video.
thanks James! very helpful information. Im investing in btc through a self directed Roth IRA. Wont be able to withdraw until reached 59.1/2(8 more yrs) But, very concerned about govn confiscating or drastic regulations on crypto retirement accounts. Any words to relieve my worries? 🙏🏻 thanks much James.⭐️
Great point and it is coming! I hope people realize they need their own plan on top of any pension they are contributing to.. and get some BTC. I am a HR professional and I speak with people daily about this issue, many don't believe it...but this is real. Thanks for your great video!
Combine this with the millions of people that lose their jobs due to technology ... ALL drivers (Trucks, Taxis, Trains, Plenes etc) .. automated Legal advice ... and so many other areas ... Welcome Skynet
Congrats! I just enlisted a few months ago. Currently in AIT. I'm curious as to your thoughts on TSP. I invest heavy into crypto and stocks on top of TSP. Do you think its even worth? Should just invest that money myself. I do like the tax benefits of the TSP tho
@@devonlucero2113 hi Devon. I think utilizing the TSP is a great idea. It makes investing easy. Also, during my military time I didn’t have access to matching funds and I believe the military will match your contributions now, which is a great benefit. My recommendation would be to put enough money into maximize free matching from the military. My TSP value was about $300,000 after a 20 year career. It won’t seem like a lot at the beginning, but it gets bigger and bigger each year, especially towards the end of your career. I would also recommend putting money into bitcoin and Real Estate throughout your career as well. it’s nice to be balanced. Good luck!
Happy with this knowledge.. and then they are thinking of letting People work less and let robots do the work! .. I do think big changes wil come into the Future... This system wil not sustain into the Future!
Love to hear you talking about broader financial issues. Really interesting. However, I am a bit confused about your pension numbers. Personally, I'm a teacher in the DMV and my projected pension for a 30 year teaching career is less than half my final salary. We're talking less 50k, nowhere near the 400k you cited in CA. I don't know of any retired teachers who receive a 6 figure pension.
Sombre video but sadly true. Particularly relying on politicians to secure your retirement is naive need to up our own knowledge base and more importantly take charge of our futures ourselves if it goes wrong only have self to blame but certainly better chances of making a better job of it. Again a superb presentation your passion shines through Sir. Thank you.
Hope James is proven correct regarding investors allocating a portion of their investment into BTC to keep up with inflation. For those of us who bought BTC less than 18 months ago we’re all way behind in Fiat terms at the moment. Although I haven’t sold, continue to DCA and own 2 S19’s, I’m happy I didn’t invest more as I can at least sleep at night. Hope one day my BTC position is vindicated.
James amazing video! Two questions please....... 1) can we set up a go fund me account for the 78 cashier 2) my pension is through the company I work for and thought up until now it was good as whatever i put in the business matches it and puts in the same, how can I get the pension fund black widow to invest in bitcoin or my choice of stocks Thank you ❤️🇬🇧
Great video as always James. State pension will provide 15% of my estimated total retirement amount. The rest is real estate, funds, Crypto. I did invest small amounts in a state pension scheme to get also a medical support coming the old age. Having a state pension helps also to open medical rights in my country.
It’s really disconcerting to me that my teenage kids already believe they will never own a home, have a decent quality of life, or be able to retire comfortably. The scary part is the effect this aging population will have on our healthcare system. I bought all of them some Bitcoin and taught them how to save for retirement early so they can avoid this conundrum. Thanks James, intellectually stimulating as always.
I have heard not to count on the government for retirement 🇨🇦 but now I actually understand WHY NOT. scary scary stuff. Thank you James
And also in Canada, you can only access your pension early if you’re dying or leaving the country. You get partial if you’re marginally broke. Sucks coz it’s $ you own and someone else decides when/how u get it.
Children went from being a financial asset to a liability. Families went from needing one parent working to support a household to now needing two. It's a wonder there are any children being born at all. It's become a very unattractive financial situation, especially for educated women with no possibility of affordable child care. It's only going to get worse.
100%
I'm 18 and planning to retire around 30-40 years old. Never even considered pensions because I don't even think we'll have any by the time I'm 70. Just gonna keep DCAing BTC on the bear markets and alts on the bull markets. Great live stream as always, James!
You can do it! Amazing you are only 18 and sharpening your tools so well. You will be well set by the time you are 30.
@@InvestAnswers yeah to be 18 now be amazing investment wise
Great goal, but don’t forget to raise a family. Most rewarding thing you can ever do especially if you’re financially independent. Pass down your good values to the next generation.
All the best in achieving your goals.
Retiring at 30 years old is a pipe dream quit being afraid of work
@@stephenshanebeaty Do you know this person?
What makes you think he/she is afraid of work?
James retired early and is helping others to have choices in life. He also does this for free because having secured financial freedom himself can afford to do so.
I’m grateful that James has retired so he can devote his time to helping others.
All the best
This doesn’t make sense James.
Why would a retired administrator get 400k a year or a sanitation worker 285k?
Why are they receiving more when they’re retired than when they were working?
In Oz superannuation is compulsory. It’s 9.5% of gross income. Employer pays into the account.
Teachers, nurses, mechanics, chefs etc all get this. Most public servants too.
However the police and military only have to work for 20 years. Senators only have to work for 7 years in Western Australia. Most Australians are unaware of this and given that their taxes are funding this, should be aware.
Public servants including teachers in public schools used to get a very generous pension and could retire at 54 and 11 months on 70% of their final year’s salary and indexed for life.
Not fair in my opinion that today’s workers on far less generous entitlements have to work until they’re at least 67 years to fund these lucky guys.
Great Video James! I'm from Germany and I have to say, I'm really afraid for those who don't invest for their retirement themselves, but instead lean on the government. Our chancellor Olaf Scholz said in an Interview, back when he was still finance minister, that he thinks the German retirement system delivers a better return on investment than most equity funds. Right before that he admitted that the government has to subsidize it with 100 Billion per year, but that's how it's supposed to be in his option. Also when asked about Norways enormous sovereign wealth fund and what we as a country can learn from Norway, he replied dead serious "nothing, because Germany has no oil." Also in another interview he said that he as the finance minister keeps all his money in his regular bank account.
This arrogance really frightens me. How can you say you can learn absolutely nothing from a country that's obviously doing very well with it's strategy and that you yourself are doing everything right. I think that attitude is really dangerous, not just for the safety our retirement.
Woah he really said he keeps all his money in bank account? I mean sure u can if u steal enough money than u don't have to worry for your retirement
Same is in fking balkan..Politicians here man, priceless
Great video James, thanks! The key to a successful retirement is to have your eggs in multiple baskets. I turn 67 this year and will start drawing on S.S. next year. I have passive income from 2 rental properties that are paid for. I have a small bag of Crypto (albiet really down now); a bag of gold and silver coins; 401ks and Roth IRAs; and wealth in art and valuable collectibles. If you do not diversify, you are screwed!
so true bud. well done
Something happened to me this morning! As all the information I’ve digested from Jame’s pod casts coalesced into a linear thought that allowed me to articulate cryptocurrency and particularly BTC in simple conversations with colleagues and friends that turned lights on in their eyes about almost the very specifics of this conversation! Thanks James, I’m forever in your debt!
I’m just sayin..
dang pls share your linear thought. I am fascinated. At the end of the day - connective tissue is everywhere.
@@InvestAnswers it’s a tall order in a limited character format. But, one of my first conversations from this morning was with a client that called for a status report on his project. He asked what the BITCOIN logo on my email signature was about. I started with a broad statement about the greatest shift in wealth in human history and Bitcoin’s potential to create life changing wealth in the average persons life. The conversation dovetailed into his negative experience with cryptocurrency and eventually ended with him inviting me over for dinner to discuss further. It was the shift from absolute negativity about the crypto space to one of curiosity to understand a different perspective that shook me a bit. I don’t think of myself as a very good conversationalist. But his attitude was genuinely changed in a positive way. I found myself “wasting” too much time talking about the subject of centralized and decentralized economics with others throughout the day. All with the same basic start and outcome. I try not to apostatize, it turns me off! So I must have found a way to resonate with them at a level they were open to.
Sorry, was tired last night when the above was written. That sound like more rambling than a clear linear thought. It was spontaneous. What can I say?
I LOL'd when he paused, then said "Suck".
Inspired me to take a real good deep dive look at what my workplace pension is investing into!
First time James said “this is financial advice “ 😉.
Thank you James, K8 and the team. Everybody needs to watch this. Prepare for the future.
boom! thank you my dear
I've always loved that word, "conundrum". I so rarely get to use it in a sentence.
it is a great use in this instance....
The wife just requested a pension payout to be moved into another iTrust Traditional IRA for crypto investing. I think this is the best choice.
I also changed jobs a lot and always moved my 401K's into a self-directed Traditional IRA's as soon as I could (but not crypto). Other than that, we both have Roth IRA's now moved into crypto.
What's the best proxy for crypto IRAs grayscale?
James, you always nail the content! Absolutely stunned how you and your Team chooses content. You covered so many of my personal dilemma. I'm swiss...like you;). You know we grow up in a system of security and future promises. I broke out of the system 2018 but still feel uncomfortable...the mind is a strong memorychip. Not asking you to tell me what to do but if you would be me: struggeling with taking the pension funds (2A/3A), building a House in Indonesia, earning with renting guestrooms out, having time for my family in Indonesia vs. "Stability" & Security in Switzerland...which one would you choose. i would really appreciat a answer from you James.
Thanks for everything you do!
WOW James,
OK that was a tough one to sit through, not because it was not good information but because with having retired recently it got me thinking about my pension and the current inflation. Thank you for the time you put into these videos. Great information.
Plan to retire for not rich People...
1 btc. 5 eth. 1k dot. 2k matic. 2k Ada. 1k xrp.
Dot, matic, Ada on staking other Just hold safe place...
I am ahead of you James on this one. Cashed out one private pension last year into BTC. Great to see your view on things as always. My wife says your the best.
Excellent. Thanks.
I just wonder if this is the same simple math that said Solana was going to $800
I'm a retired public servant. I started buying Bitcoin heavily in early 2017 at $3,000 AUD per coin and I'm a multi whole coiner. I retired early in 2021 at age 41 and I am living off my defined benefit pension. All my workmates thought I was absolutely crazy buying Bitcoin and as much as I tried to explain to them that if they combined Bitcoin with their defined benefit pension plan it's one of the ultimate savings and investment combinations. Now I live off my pension and I dollar cost average out of Bitcoin if and only if I need to add to my pension. I take off to leave Australia to live in Thailand in August.
Thank you for this James! As sadly as you laid it out here, we need to hear it, accept and act on it. Forever grateful.
Thanks for listening
Well said. 👍
⌛📢This information should have been drummed into everybody from an early age. With all the bright minds out there, we could have collectively come up with a better system. Ah hah💡, we have🤔its called crypto🔔🌬
There are plenty of people for most jobs, the big problem is that most employers are basically looking to pay minimum wages on temp contracts. The C19 issue has been used by a massive amount of companies to lay off workers, now they are looking to rehire people on temp hours contracts and much worse wages.
Also every company is and has been replacing staff with technology at the earliest opportunity meaning that the jobs are disappearing, the governments should have taxed companies extra for every job they did away with and replace with a computer
thank you so much James. your hard work and dedication are incredible.
I appreciate that!
James I wish you were in my ear when I was 16 . Thank you for your work!
i think the real average annual pension is for either NY or Calif govt worker is closer to $50K, not high six figures...I think those few high pensions were outliers.
Yeah I see the info came from Pragers U so definitely expect them to hyper inflate NY and Cali, blue states.
I see all the comments, about owning real estate, rentals, crypto, gold, art etc.. To suggest they do not rely on the state for a pension.. This is fine but just like pensions potentially being a ponzi scheme... Is it not the same for any of these investments?.. To increase in value or perceived value, All investments require more people piling in and battling to acquire those limited commodities... In terms of attributing the definition "ponzi" It's seems the only difference are time scales. I get the differences between asset investments types regarding utility, inflation resistence, liquidity et al... but at the heart of it, all such hard asset investments rely on something like ponzi system to retain value across time. I think it much the same for venture capital investments...which at their heart rely on continual growth of market share. With trading, someone has to lose for another to win... I hope I am wrong with this view. All counter arguments welcome.. We are all learning. Edit... I want to add that I think BTC is currently fastest horse or the asset with most potential in medium term, if it hopefully reaches market share of something like gold or real estate then it will perform more like those assets.
Best vid for a while. Must have put a lot of work and thought into it. Thanks. Many pension scheme's in the UK are average salary now rather than final salary. The terms get worse all the time so who knows where we'll be when I retire. A scary thought.
Hi James, thank you for this eye opening video. Kind of all ready know about that, but its nice to see it expose and back up by numbers. How about insurance company ,where you pay every month and supposed to cash in when you retired??? same stuff???
Must-watch video for all the people relying blindly on our politicians... well done James, eye-opening content!
🙏 Great synopsis. The 3 active to workers to 1 retiree was never sustainable with the consequences of an ever- growing world population. It’s time to rethink the world’s economy or so it seems. Not sure what the possible solutions might be, but that would be a fascinating in-depth video in the future! Your time and analysis is always appreciated James.
Another partial solution to the pension issue, although it is not a short term fix, is for the government to incentivize people to have more kids. In an urban environment kids are financial liability. Government has to make it cheaper to raise kids: free daycare, free dental and medical care, free university, subsides on healthy foods for lower income people, maybe a lower income tax rate, etc, to reduce the cost of raising kids.
The Social Security website says the money will run out by 2034 as well so you don't have to look anywhere else.
Should do a video with Patrick Boyle he's a clever guy and very witty. A finance guy too but not a huge fan of crypto. His videos on luna, meme coins, etc are spot on.
Excellent video as always. How about virtually the same video, except with a sharp decline in employment due to automation also factored in?
great idea
Awesome video thanks so much James you can’t stress enough how ALL ROADS LEAD TO BITCOIN!!!
I showed this one to the wife, she’s not surprised! So my 403 B is worthless … 😞
I consider this not as bad news, but as realistic news. Better to hear this and make a plan - while we can - then ostrich further and have problems later in life because we can't handle "bad news". So, thnx for the vid!
I have long thought that the US will end up confiscating private retirement accounts.
Agree
there was a poll on linked in on what's an average working person age , about 50k people participated, so essentially it looked like this : People with 10+ years experience working 60% People with 5-10 years experience working 30% and 10% everyone else working, so essentially it means that when that 60% with 10+ exp retires, there will be not enough skilled labour to run the economy big time
James you should have a weekly TV show. But they would never want the masses to have this unbelievable information. Thank you 🙏
I wish we would go back to the term “Rob Peter to pay Paul” instead of Ponzi scheme. It may make more sense to people. Plus, that was the phrase used before Ponzi (as well as by Ponzi).
i use that phrase all the time - Rob Peter to pay Paul :D
Thanks for this James - as you say not good news, but also not unexpected & people need to know - awesome KPM 🤗
Obviously I don’t know the extent of your convo with the 78 year old cashier but many retirees do this work to socialize and feel useful, not necessarily to survive. I know this because this is what nearly every working class retiree I know does.
That said, I’m here because I hope to not have to rely on my current retirement.
I asked her why she was still working - she said she needed to pay for rent. The saddest thing was I could see her hands they were completely arthritic she could not even open the shopping bag. It was truly heartbreaking her back was hunched over and she definitely did not want to be there.
@@InvestAnswers I should have known you spoke with her. This scenario is what drove me my whole life to work my ass off and retire early. Now just trying to ‘coin up’ and protect my freedom. 🙏
Best video yet. So much great info. Makes a person think. Thanks to u and your team. Very well done. See u in the next one.
Much appreciated!
I have 38yrs before my retirement savings are made available to me by the Australian government. That's why I have a self-managed superannuation fund instead, which just stacks Bitcoin.
The Australian dollar won't be here in 38yrs lol, there's no point in having assets denominated in fiat over that time period.
Numbers, so easy to manipulate and extrapolate. A few months ago James showed how possible it was for Luna to hit $1000…any questions 😜
Spent 20 years as a pension trustee of a final salary defined benefit scheme pension. The company could no longer afford the guarantee and all future funds coming in went over to a DC pension. This was my cue to leave I worked on my property portfolio and left the day job and invest where I want now. UK state pension age is getting higher and higher you cannot rely on anyone to look after you least of all the state make change now you won’t regret it!
Robert Kyosaki already wrote: "Who stole my pension"
Friendly warning. 5Y chart pattern is making a horrible head and shoulders pattern. First head and shoulders on btc broke mid April. Could be heading for $10-20k.
You rocked it 🙏
very good job, many thanks & appreciate for your great videos
Glad you like them!
What an eye opener!! You are the truth we need. What do you think about work pensions that work essentially like portfolios? They may not beat inflation but its a small hedge. BTW its a legal requirement to have a pension in some countries
Just became a patreon subscriber. Thanks for this vid
When wages have been going relatively down for decades more workers are required to support pensions. The cost of low wage’s amplifies the pension problem. Basically the top wants two classes. Rich and poor
Even bad news is good news, thx for clarifying again.
Thank you very much for this James. I remember having my mind blown when you told me unfunded liabilities was 6.5x the debt in America.
What an incredible timeline this is! Continue to hodl friends. The surf will build. Times to reap and times to sow. For now we sow🌊🏄🏽♂️🏄♀️🏄🏾♂️
People were telling me when I was in my 20s social security wouldn't be there for me and here I am eligible for social security
the math is different this time, but they will print money to fund it I reckon. they have to or else there will be a revolution. Either way QE to infinity
I experienced the same.
True, but they have raised the retirement age for collecting social security to delay paying some of us who thought we could retire at 65. (we're not that old yet, which is why it is not that widely known).
I don't understand why people compare what $1 could buy 100 years ago to today. One of the reasons why governments print more money is when the economy is growing. The problem with printing money arises when it's done faster than the velocity of that money as the output of a productive economy. If $1 could buy the same amound of goods in 1922 and 2022, then you'd likely have a really big problem - an economy that didn't grow its productivity over 100 years.
empowered women do not have replacement levels of birthrates
in the UK we have a lifetime allowance on pensions, about £1.1m, once you have hit this tax in your pension makes it illogical to keep saving in a pension, another reason people get out early
Very educational video Thanks again!!!
Awesome.James...scary stuff but such valuable information...Thank you!!
Glad you enjoyed it
All I can hear is Ben stein’s voice “voodoo economics”
I am a govt worker and the city has said they have to make a large contribution to pension to make sure they meet their obligations. Some cities don't and have to cut their pensions. We will see if they can continue these huge payments in the future. Thank you James for talking about this issue and giving us the tools to find a way out. MATH MONEY FREEDOM
James! Are u forgetting a lot of the retirees just got killed off via covid? They can just come out with something like this every 10 years and problem solve 🤨😱😱😱
Retired after my 2nd cycle....buying back in crypto in late 2023
This isn't financial advice. But it actually is, but it isn't. haha great video as usual!
Thanks for watching!
Fantastic and very important macro analysis James. But what will the factor be of the coming exponential technological explosion.
The fourth industrial revolution with AI, quantum computing, biotech, all round automation and robotics.
Great minds are very positive about this like Kurzweil, Kaku, Harari, Wood, Musk etc.
Can you do a comprehensive deep dive analysis into this? Maybe with an expert on these subjects.
Maybe Raoul Pal or somebody with an macro-global-economy-technology view
Thanks 👍
This is why they have to have inflation....
Thank you James.
re: shorting Tesla a la Mr. Gates (from the "What global investment banks do" section) --- Not only is BG shorting TSLA, he is shorting human beings by way of his neo-Malthusian "philanthropy" work, among whose many harmful consequences are the issues you discuss in the first sections of this video.
thanks James! very helpful information.
Im investing in btc through a self directed Roth IRA. Wont be able to withdraw until reached 59.1/2(8 more yrs) But, very concerned about govn confiscating or drastic regulations on crypto retirement accounts. Any words to relieve my worries? 🙏🏻
thanks much James.⭐️
Yeah, you know it occurs to me that the best way to hurt rich people is by turning them into poor people!
- Billy Ray Valentine
Good stuff. I leant a lot. Please keep bringing great data/insights similar to this in your upcoming videos.
What an awesome one 👍😁
Retirement is going to become a thing of the past. In the future people will work until they become too frail to do so.
Great point and it is coming! I hope people realize they need their own plan on top of any pension they are contributing to.. and get some BTC. I am a HR professional and I speak with people daily about this issue, many don't believe it...but this is real.
Thanks for your great video!
Thanks James, very imformative!
Might be your best video yet James, nice work...and thank you
Wow, thanks!
Combine this with the millions of people that lose their jobs due to technology ... ALL drivers (Trucks, Taxis, Trains, Plenes etc) .. automated Legal advice ... and so many other areas ... Welcome Skynet
I’m 45. I take my army pension and convert a portion to BTC every week.
Congrats! I just enlisted a few months ago. Currently in AIT. I'm curious as to your thoughts on TSP. I invest heavy into crypto and stocks on top of TSP. Do you think its even worth? Should just invest that money myself. I do like the tax benefits of the TSP tho
@@devonlucero2113 hi Devon. I think utilizing the TSP is a great idea. It makes investing easy. Also, during my military time I didn’t have access to matching funds and I believe the military will match your contributions now, which is a great benefit. My recommendation would be to put enough money into maximize free matching from the military. My TSP value was about $300,000 after a 20 year career. It won’t seem like a lot at the beginning, but it gets bigger and bigger each year, especially towards the end of your career. I would also recommend putting money into bitcoin and Real Estate throughout your career as well. it’s nice to be balanced. Good luck!
Im making -90% on my altcoins
Is Celsius a Ponzi? Was Luna a Ponzi?
Happy with this knowledge.. and then they are thinking of letting People work less and let robots do the work! .. I do think big changes wil come into the Future... This system wil not sustain into the Future!
scary future indeed.
good stuff james . some mindblowing
“Don’t shout at me.” 😂😂😂😂 Index linked public sector pension in the UK covers your bills and food these days! 🇬🇧🇬🇧🙏🔴⚪️🔵
I thought Bitcoin would go up with inflation rising, what happened to that?
Thanks James.......👍
Very welcome
Love to hear you talking about broader financial issues. Really interesting. However, I am a bit confused about your pension numbers. Personally, I'm a teacher in the DMV and my projected pension for a 30 year teaching career is less than half my final salary. We're talking less 50k, nowhere near the 400k you cited in CA. I don't know of any retired teachers who receive a 6 figure pension.
Sombre video but sadly true. Particularly relying on politicians to secure your retirement is naive need to up our own knowledge base and more importantly take charge of our futures ourselves if it goes wrong only have self to blame but certainly better chances of making a better job of it. Again a superb presentation your passion shines through Sir. Thank you.
Hope James is proven correct regarding investors allocating a portion of their investment into BTC to keep up with inflation.
For those of us who bought BTC less than 18 months ago we’re all way behind in Fiat terms at the moment.
Although I haven’t sold, continue to DCA and own 2 S19’s, I’m happy I didn’t invest more as I can at least sleep at night.
Hope one day my BTC position is vindicated.
James amazing video! Two questions please.......
1) can we set up a go fund me account for the 78 cashier
2) my pension is through the company I work for and thought up until now it was good as whatever i put in the business matches it and puts in the same, how can I get the pension fund black widow to invest in bitcoin or my choice of stocks
Thank you ❤️🇬🇧
As always, thank you for creating this content InvestAnswers. Very educational and helpful in my financial decision making!!
Yes
Great video as always James. State pension will provide 15% of my estimated total retirement amount. The rest is real estate, funds, Crypto. I did invest small amounts in a state pension scheme to get also a medical support coming the old age. Having a state pension helps also to open medical rights in my country.
Thanks James. Lots of work delivered. 👍
This is why I fired my money manager and do it myself