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Are you planning to retire when you get old? Stefan Molyneux looks at various government pension schemes, their sustainability and the shockingly low rate of savings among many people in the western world.
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You right , Enron destroyed me , Bankruptcys , Wages pensions are not a secured creditor in federal court lost 25 years with Costain , Black lung disease, You cant get , started paying taxes at 14 , If it wasent for Veterans paying me for injuries, and Social security, I would starve ,
If we had real money, people who work and save could be self-sufficient in retirement. Because our money is controlled by central banks we are stolen from by inflation seen and unseen. They create booms and busts to shake out any money we have saved every 10 years. Dollar is only worth 4 cents of value from when FED was created. Don’t blame the people who had nothing to do with this fraudulent system that is thrust upon us. Pensions were invested in AAA graded securities that were really crap then went bust in 2008.
State of Oregon will probably go bankrupt because of defined benefit pension for public employees. PERS. And everything else that the State and Local governments try do will fail as all money will have to be spent on retirement.
Read a lot to do with living within means. It's different in the UK. Retirement is controlling from government in work based pensions that are really worthless. They only encourage to save more than reasonable afforded. It's a doom cloud and my advise is have a good funeral plan because it the only thing certain. The way pension are invested (truth in this video) it's never going to fall positive no matter how it's dressed up. But entirely I'd get more stashing cash in shoe boxes. There is no integrity. The only way forward is crime and auditioning for Xfactor.
The system worked relatively well pensions but then came those who came who have never contributed anything to the schemes and then claimed them for their selves by the taxpayer were penalised to make payments for these people who have never contributed to the system things got worse and now you arrive never paying a penny or contribute in anything and you are giving it without question why it is taken off those who have paid into the scheme or their lives why officials get pensions you could only dream of those in the private sector who paid in all those years Get Enough to Barely survive after contributing for many years
If you want to have a pension save 5% of your salary each month and buy gold/silver and go burry it somewhere safe, preferably on your property or buy cheap land with good prospects with the intent of selling it further down the line. Dont keep your money in banks, the interest they give up dont even make up for the inflation. Keep your money in gold, silver or land. There is your pension!
People are now going to work until they die on the job. How ridiculous does that sound? Buy US savings bonds. If you have a plan, then you do not need a corporate retirement plan. You have to have a job at 40 hours a week that pays a living wage. If you do not you exist that is it. Robots and mechanization gung-ho.
Boomers working longer! Lol Most of them were fucking useless when they were young. Didn't even save despite having it easier then any generation. Now we have old boomer dinosaurs trying to manage business in a rapidly changing world. No thanks they can fuck off!
when you have people in their 80s and 90s still working because their bored or lonely at home, it sends out a message to the govt if these people can work so can everyone else even if your dying , or very sick
That will happen in the future. But for me, I retired from owning a small business, that I started in my teens. I retired long before I was in my 50s. All I have done after that is author novels. About a dozen of them. It started out as a hobby. Now it adds thousands a month to my income. I still do not consider it work. It is fun. Socialists hate my books. And I love that! My books have hundreds of great reviews on Amazon. Thank you for trying to educate the people!
..Stefan Molyneux you fucking redneck old ugly old man ! you're in your late 60s ...go retire and get life asshole ! ...
your are not happy go back your whore mothers homeland the U.K and stay there ! the Anglo-colonial English days are over ! you only breed hate ! REDNECK RACIST PIG ! you ugly old man ! go buy a hair piece !
""The English Colonial Anglo glory days are over ""
I am sorry to hear about what you feel is happening to Canada,
but I wonder where white Anglo Canadian decedents like you are running off to in the future ?
Your disdain for third world immigrants is evident, however, these people seek opportunities just like your own Anglo European founding fathers pillaged, stole, enslaved and colonized their countries to enrich ungrateful arrogant people like you.
I am not Chinese , South Asian , Muslim or black , but I truly believe in karma, in the sins of your fathers being visited upon your Fkn children.
Kiss your lily white-Anglo world goodbye.... your Queen from England cannot save your Anglo- degenerate swine people .
A world where people like you turned a blind eye to atrocities that happened in your name and you never EVER questioned where your riches come from, or rather who you "stole" them from. I am especially referring to people of English Anglo descent.
You are NOT entitled to Canada, it's up for grabs for people who have the means to start a new life in a new country. Canada never has and never will belong to the Anglo colonial people.
Native Americans are the "REAL Canadians" . You know, those brown people you people killed by the thousands so you could claim their land. In your typically ignorant self serving attitude you forget what your thieving ruthless immoral ancestors did to those beautiful people so you can squat on their land, try to wipe out history and convince equally ignorant masses that Canada belongs to the Anglo-white people.
When your English Anglo ancestors were squatting on foreign land like All Africa ,South Africa,Asia Australia to name a couple, They committing mass genocides of native people, raping women en masse thus changing the DNA of local people, stealing their land and treating natives like third class citizens, you white folks had NOTHING to say because it did not affect you. Either that or you were enslaving them, making them work for nothing to build your country that you went to lengths to keep them out of.
Now that the shoe is on the other foot, you're watching foreigners invade your country and changing the racial landscape of the country, you now have an idea of how our ancestors felt.
The tide is turning for millions of people like you, and I for one am VERY happy that your kids will experience the injustice you people meted out to our own ancestors. What goes around comes around.
My suggestion to you is to shut up and learn to live for the first time in your god damned bigoted life with people who do not share your skin color or religion.
If you have no problem invading their countries and declaring illegal wars on their soil with "NATO" killing hundreds of thousand of people in Iraq , Afghanistan , Libya destroying their homes and cities with your f-18s (with NATO).....Canadians invade Iraq , Libya and Afghanistan with the U.S. and England . They destroy and kill hundred of thousands of people with their F18's planes bombing with DUI weapons and then they say what a peaceful people and country ? right !.. hypocrite liars and criminals like all the Anglo people . Then shut the fuck up if they want their own piece of the pie in your country.,
Its the least you can do.
You Anglos only bring War and Death to the world .
You can run all you want, but people of color out number you, in the end you will lose.
If you don't live long enough to see it, your children and grand kids will live in a totally different racial climate. If more brown and black people want to come to Canada, then let them come by the boatload, plane load because the original Canadians share the same color.
Nelson Mandela fought to get his country back to his people from the criminal white Anglo and Dutch criminals and thieves . When will Trudeau give back Canada to the Aboriginal People ?
""KARMA""................ You reap what you sow ! .
When you use your power or money to dominate others consciously for "your own personal gain" without any thought about who or what you are harming, you create a mountain of "bad karma" to pay off and you will become someone else's slave in your next life or lives, like it or not, those are the rules .
Nelson Mandela fought to get his country back to his people from the white Anglo trash . When will Trudeau give back Canada to the Aboriginal People ?
I HAVE A SOLUTION ;
GO BACK TO THAT SHIT HOLE BRITAIN WHERE YOUR FORE-FAGOT-FATHERS CAME FROM .
CANADA WOULD BE A REAL MULTICULTURAL COUNTRY, BECAUSE ONLY CULTURE WOULD REMAIN.
Why 99% of serial killers and pedophiles in Canada are WHITE Anglo Canadian MEN ? why ?
YOUR FOREFATHERS WERE DISEASED , THIEVES , Rapists , pedophiles , AND KILLERS
"Anglo bastard people " ; "Racist cultureless bastards " Zero morals /// ZERO FAMILY VALUES ///( degenate drug addicts )
YOU WHITE- ANGLO PEOPLE .. THINK THAT BY EATING JAPANESE SUSHI, TAKING INDIAN YOGA AND DRINKING ITALIAN COFFEE ; GIVES YOU THE CULTURE THAT GOD DIDN'T ? ..........PHONY ARROGANT BASTARDS !..you're number one stealing other peoples culture !
STOP RIPPING OFF OTHER CULTURES !! ...BECAUSE YOUR PARENTS WERE CULTURLESS HOMOSEXUALS WHO SPENT THEIR TIME INBREEDING AND SMOKING CRACK AND HAVING SEX WITH THEIR KIDS ..phedephiles !
THE ANGLO-CULTURE IS PROMOTING GAY MARRIAGES, PEDOPHILIA , DRUG USE , PORNOGRAPHY , BREAKING DOWN MORALS OF SOCIETY TO BENEFIT ;
THAT'S YOUR SICK ANGLO CULTURE .
The English Colonial Anglo glory days are over ...yes !.
Stephan with all due respect brother. You need to go into these things like why Woman are willing to let people fail all in one sitting. I am a big fan and I am working on piecing all of this together and I am sure its the same with others. There is a larger conspiracy at work dude. Please for god sakes be the guy that comes up with one video that pieces it all together. Screw this cryptic crap. Love you dude and I don't mean any disrespect. At least post us a reading list that we can follow if its to much to just plant us with the info. One day someone will... Please take the initiative. I am a dumb guy but I want to figure this stuff out. I will read anything you toss my way. The endgame of the left is the problem... We all know the implications but why the hell are they doing this shit? I know that the common idea is for votes and I agree that is a driving motivation. But they are screwing themselves in the process. I am attempting to piece this shit together.
Don't worry the governments will be promoting euthanasia on the basis that it is sociably unacceptable to be a burden on society.
Life in society will be so bad that people will probably look forward to their euthanasia day.
Reality check. The WSJ had an article on the growing number of young people retiring at or before 40 years old. How? By not falling into the "I have nothing to do so I'kk buy something" mentality. They radically cut expenses and save 65-75% of their net. This means every closet cannot be packed, no eating out every day, energy must be conserved, Google - not Verizon, cheap car...it is being done. However If you are someone who shops for relaxation, has so many clothes you must use two closets or have never saved this is probably not for you.
Secondly, we take far more from SS, Medicare and Medicaid than we contribute (which is why they are bankrupt). The average couple (2012 - $44,000 salary each) will get approximately 1/3 more than they contribute (SS & Medicare) A one-worker family will get approx twice what they contributed. We contribute nothing to Medicaid except taxes. Lastly, the trouble with all these new pensions is that "retirement" begins 10-15 years earlier than what was once considered normal (65) and they are negotiated in good times.
I’m in agreement with you except for one topic. I don’t know what kind of women you surround yourself with but the women in my family are quite knowledgeable. It’s the men who think they know better who drag us down.
It’s hard to soar like an eagle when you’re surrounded by turkeys.
Humans are not solitary players, we are intrinsically bound together and thus pull each other up or down en masse. Gender has nothing to do with it. IMHO.
The problem is not that Americans don't want to plan and save for their retirement. The problem is Americans don't make enough money to be able to save for retirement. Stefan said that 22% of Americans have not saved any money for retirement. Which I am not surprised that number correlates with the percentage of Americans that are poor, too poor to save for retirement. I get bothered by people who think it is a matter of choice, okay I'll tell by boss to give me a 6 dollar per hour raise tomorrow so I can save a 1,000 per month for retirement, he will show me the door.
Social Security Trust Fund reported that the program will become financially insolvent in the year 2034. In 1960 the U.S. Supreme Court ruled that Social Security recipients have no contractual right to receive payments also the power to amend and revise anything they want. This should frighten people. The people receiving Social Security won't after 2034 (15 yrs) The others you are counting on Social Security to provide income during retirement are SOL. What can the gov't do? They could double the tax rate from 12.4% to 24.8%, that would increase the tax burden from the avg. 28% to a 41% tax burden. That means a lot of people will call their car home. It will not turn out good. The gov't could just print 1.37 trillion dollars per year, dump the money into the economy (rapid inflation) and add 1.37 trillion dollars annually to our national debt. Currently the interest paid on our 21 trillion dollar national debt is 500 billion annually. According to the Government Sustainably Office the U.S. is on a fiscally unsustainable path because of projected increases in Medicare and Social Security spending. I think were are on a path of no return,
You cannot say "why should the government pay their pension".
Those people had a deal and held up their end. They have the right of delivery.
If I sell you a car, and you agree to pay for me 5 year holiday on Ibiza... You made a deal... A crappy deal, I agree... But you should hold up your end. It's not my fault that you agreed to bad terms. We say that about everyone with a credit card loan or a student loan or a bad mortgage... why not about the government? They made a crappy deal, it's a free market. Pay up.
The public pension stuff was good. But why the hate for the RRSP, 401K, and similar programmes like TSFA. They are literally the only good programs the NA governments have. They allow you to avoid \ defer tax and take care of yourself in retirement.
I'd think you'd be all over the RRSP \ 401K programs, particularly self directed ones. For those with discipline, all you need ot do is set 10% of your gross aside, invest it in a set of exchange traded funds that mirror your top 4-5 stock exhanges ... month after month aftermonth for the duration of your career, never even thinking about it and voila ... your guaranteed 10% returns min over the long haul and wake up at 60+ to a VERY tidy retirement bundle. There is actually nothing that could be easier. All it takes is discipline and a commitment to the slow and steady long game.
The only bad thing about the government's involvement in corporate RPPs is that they force employees to contribute to them to some extent. THAT is bogus. Everyone should be allowed contribute to their own as per above and fuck the corporations who raid their pension plans and the gov't.
Best way to ensure a solid retirement: HAVE NO DEBT. Buy used cars and drive them until they die. Double-pay your mortgage to pay it off in 10-12 years.
I have over a million in net worth, not counting my fully-owned house. I have a 15-YO car, a 5 YO car (both fully-owned, of course). My 2 TVs are 7 years old.
The only "new" things I have are laptops which you HAVE to refresh every 3 years or so.
Living WELL BELOW YOUR MEANS is the ticket to debt-free living. I could have had new cars at every turn and qualify for a house/mortgage 3 times the one I paid off. But why?
If you need guidance, look for Dave Ramsey's podcasts, website and videos. I took my steps before I heard of him, but he gives good, practical advice.
Yeah the government needs to reset the system, tax the wealth of those over $500,000 net worth, End S.S
for those with a net worth over $1.5 million, curb immigration, and send refugees back to their countries or tent housing near their country! Then we will be on track to a controlled system!
Living below your means is the way to go. Look at the "tiny house" movement and the homesteading movement.
But yes you can at least work part time. And I think worrying about health is moot because at some point in time its just better to die. This is why I believe in assissted suicide. Dementia? Why should anyone be forced to survive like that. Just end it. Get it over with.
I'm going to retire next August at the age of 50. How? The main thing is that I'm not retiring in America, or anywhere else in the West. I'm moving to Thailand where healthcare costs are low for excellent healthcare, where you don't need to own a car, and the food is cheap. For $2000 or less (sometimes much less, depending on your standard of living) a month you can live very nicely there. Not to mention the fact that in Thailand, while lousy with tourists, there is none of the immigration nightmare as exists in the West, very little deadbeat welfare-mongering, no sense of entitlement or victimology, comparatively little violence, and far greater freedom of speech (yes, even under a monarchy!).
I've always thought that investing for my retirement in Roth IRA is pointless, and foolish, knowing that something or someone will take them all away from me in the end. I'm single and will remain to be, and work in the trades. Should I stop investing?
Why save in a worthless currency? Dollar is trash; that's why Saddam wanted to trade oil for euro's NOT that it is any better. fiat is trash, physical silver or gold actually holds value over time, sure it will fluctuate, but you still have the value in the physical no matter what the inflation rate is.
It's all water under a bridge. I just read a Canadian Japanese history book put out by Canada; national defence. I would still state that there should be a head tax in a certain regard, to hault or stop. This is a intererelated point ,since more eastern values create worse and worse times, and theft of destruction of money andagainst people. Creating poverty by theft and criminal acts. So what is going on. In a world built on kings in the past, reality of bismark ideal of money and its use made logical sense, if one serves 20-30 years doing something to build a community and system, then they should have benefit when no longer apt to work then they should be able to inherit those freedoms. The problem here is that money is notthe freedom its the thoguth behind the use of it in which gives freedom, ie, the laws of restricted rent increases and more, but Asians have mental problems that seem to never stop whe nthey get or take osmethign they jsut keep eating and taking. Vancouver, ports, Australia ports, like one big bad gang of thugs. Might as well call then axe gangs. So yeah there is a fear, buts that what they would call it, but its self protection of upright ideals that is not fear, by a fierce independence and lawful nature of peope lto defend a quality and standard, what I see is the death of that, through all sorts of means and yet again Molyneux is off basis, with history here.
Its pretty much how the author of lies works through History. Example. In this book, It paints Asians as innocent vicomts and mobs of white hatred coming down on them, ignores all teh other people thrown intothe bag of white; which is natives, Australians , English Europeans, etc... anyways People do not act out of hate without reason. So when a group or wave of endless migrants come over far above the census values, udnermien the markets and then demonstrate their way of life as some weird shitty home of wood and love of poverty and abstain from works of health it is interesting and I could see a reaction to people, wanting a slower expanse. Keep in mind it also never mentions where and hwo paid for what for the railroad and hwo the migrants expanded it and were pawns of asaitic empire. So yeah peope lahd a right to react. its jsut like the native thing in which paints suddenly again all white people are evil against native,s but this then doesn't count white Asians, etc etc. So the dialogue always seems ot ignore the individuals inw hich cause the problem .Now a wave of darkenss that seeks only money is devastating to a intelligent society. Ie, Gold rush caused so much grief nad crime and debachuery its astounded more peop ldidn't die. So yeah the loven ad want of immediate reward is destructive against the person.s'
If my taxes go up because some old farts were irresponsible with their money and lacked the ability plan, I'm going to be very disappointed and angry. I worked my ass off to pay off all my debts and contribute extra to my 401K, and so did my husband. Our mortgage will be paid off by the time I'm 30. If all I get for this is the government taking more of my money that fucked up.
This dude is the World Champion at rambling, damn. But I am glad to see him getting older looking, if brings a sense of ...hope, for the future. Now don't get me wrong, cringe-worthy convictions, sketchy sociopolitics, dubious dispositions, and an uncanny resemblance to the itching lunatic in the movie "There's Something About Mary" aside, he's got quite a knack for character and presentation which I can TOTALLY imagine myself liking alot if I was an uninvestigative, uneducated, bigoted White male looking for my biases to be confirmed and not much interest in addressing his self-contradictions and hypocrisies, for he would sing my delusions, prejudices and insecurities, -and sing them on high!
(Why, I love how the profile pic right below this comment kind of adds that solidifying touch without having to look far into Stefan's kkkrowd.👍🏽)
I thought immigrants were brought in to pay the pensions of the ageing, mainly white, population?
This, after those people had already contributed to the pension scheme, their whole lives.
Now, it turns out, they have to keep working.. to pay the benefits of.. the immigrants.
If the immigrants think such a foul, corrupt system will benefit them in the far future.. think again.
ok, but wher are the money one pays so many years to pension fund? who takes decisions and how do they explain the loss? people are far too submissive with their own money, the society is doomed, finished, it is only a matter of time...
I have been putting my savings always on bonds. To balance with the annual inflaction. And recently bought land from my grandfather's oncle to avoid getting it all carved up among heirs. My father pointed it out it would be in my interest and made my aunt happy, promising her I wouldn't open a well to extract water direcly from our family's mine.
Just "making my bed" before things get worst. And things will get worst, it seems. Hopefully we can got through it while being free.
like many things are let to slide, because our gov. was so sure we would be one world with all having a stake in the ruins and then Mr. Trump took over and we citizens are going to run this country the way we want
2:54. Don’t forget women entering the workforce. When you double your workforce while the number of jobs stay flat or decrease due to automation, there’s no incentive to pay workers since there’s always someone willing to take your spot for 20% less. Not sexist, just math. You know, the thing women are bad at. Oh yea, that comment wasn’t sexist either, just a stereotype
I prefered the system in Libya under Gaddafi. Elderly were looked after.locals paid next to nothing at the petrol pumps,5000 dollars given to all with newly born babies, a dividend to the Libyan people annually from oil profits,free education for all, financial help given to all newly married couples ,free health care,
and accommodation was next to nothing.And let's face it,Gaddafi and Saddam were instrumental at keeping small militant groups from growing (What a colossal mistake ridding the world of those two). Look at the state of europe due to their elimination.
What i find funny on a daily basis,is the fact that europeans blame migrants from these countries as opposed to those displacing them.(go figure)
The "existential Minimum" payed to refugees in my country is, as I was told, about 2,5 times the pension pensioners are receiving at the moment.
Even tho pensioners poverty is a well known problem here...
Every working American is saving for retirement. It was forced on us by the government and called "Social Security". Now the government is telling us that the money we gave them to hold for us to retire on is spent and there isn't any for us. It is theft, plain and simple.
Molyneux, your message here is valid a lot. The public retirement funds are not managed decently and there is the general mentality that "the gov. will take care of you" once you retire. Never bought that. People have to forget the gov. and run their lives on their own. Quite interesting your point suggesting men let other men fall under disaster, differently than women might do. But am not sure.
Loose immigration policies probably were created to compensate for the declining birth rate in the U.S. and the rest of the West for that matter. Then you would have the necessary demographics to fund SS and Medicaid. However, if you play in automation reducing job growth and eventually the absolute decline of the number of jobs able to pay a living wage, these policies are doomed to failure. Add in the resulting societal upheaval due to this fueled by leftist mentality generated by radical feminism you have the recipe for societal failure. The worse part is we have welcomed, fed and housed our eventual conquerors.
If there's going to be a government welfare program with dwindling funds then it needs to be targeted to those who most need it. I'm an Australian and don't know the numbers of the US but if we pretend that social security payments can sustainably give $1200 a month to 1 million people, then perhaps only the 1 million oldest people in the US should recieve it. On your 70th birthday you'd go to the social security office and they'd tell you something similar to what phone service operators say "you are number 5 million in the queue, your estimated wait time is 5 years".
We also spend way more than we need to. I've been thriving and spending roughly $25K per year for everything. Couple that with a software engineer's salary, and it's pretty easy for me stash away more than $50K per year. During a good year, I could put away $80K-$100K. I feel like we're living in the best time ever. There's cash everywhere and you don't even have to work that hard for it. If you can exercise the tiniest bit of restraint, you'll be rich in ten years. It's totally doable with some simple habits. I really don't understand the negativity.
Bullshit. If you get married and have to support an immature, impulsive, selfish, self centered toddler that will spend every dime you have on useless shit you are prolly right. Not to mention the kids... See what I did there men??
Small problem. You said the ww2 / baby boomer generation of families with up to 5 kids could live off one man doing 40 hours a week because taxes were low and the market was more free. Not true.
This was the 40s and 60s, when taxes were up to as high ad 80%. New deal regulations and spending loomed over everything and most industries were dominated by a small handful of companies; who ussualy also had government contracts.
I dont mean to undermine your point but thats a HUGE thing to overlook.
8:20 Is it possible to even pay a mortgage on a credit card??? I thought those had to come out of debit accounts...I could be getting back 1%. It is like I am missing out on a free burrito every month....
I have an interesting topic for you to explore Stefan. Why is it that so many Americans put content onto the WORLD wide web, whilst assuming that the audience is American only? Imagine how this pisses off the rest of the world?
Retirement savings accounts are a scam, they credit you the money then restrict how and when you can get it and punish you if you use more!
Keep your money at home,under your control,pay down your current debt and live within your means aka no credit debt,don't give the government a way to steal your money!
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