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  #81  
Old 31.08.2011, 12:40
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Re: The only way for anyone to retire now is to become a millionare

The only way for anyone to retire now is to become a multi-millionare

Fixed.
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  #82  
Old 31.08.2011, 13:43
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Re: The only way for anyone to retire now is to become a millionare

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You do understand the technical distinction between a Ponzi/pyramid scheme and a pay-as-you-go plan, yes? It does not sound like you do.
You are right I do not... perhaps you have some firsthand experience

Anyway I know enough not to rely on SS
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  #83  
Old 31.08.2011, 15:15
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Re: The only way for anyone to retire now is to become a millionare

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You are right I do not... perhaps you have some firsthand experience
Perhaps you could explain to the class what that difference is and why it does not apply to SS.


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Anyway I know enough not to rely on SS
That's another issue entirely.
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  #84  
Old 31.08.2011, 15:22
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Re: The only way for anyone to retire now is to become a millionare

I hate to butt in and i havent read all the posts but I would like to respectfully point out that unless you are currently a million/multi millionaire, that you have very limited chances of becoming one and so, don`t hold your breath.
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  #85  
Old 31.08.2011, 15:39
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Re: The only way for anyone to retire now is to become a millionare

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Sorry but having my money tied up to be received back when I retire is a form of investment... I am sure I could very well invest that money elsewhere and get a better payback
Not on national insurance contributions you wont, it's pretty much the best investment you could make.
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  #86  
Old 31.08.2011, 15:45
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Re: The only way for anyone to retire now is to become a millionare

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By the time you reach 55 you will only be half way through your career. The retirement age will be at least 80.

Trouble is that might encourage you even more to shoot yourself at 55...
Don't know about that.

At the moment we are seeing an increase in longevity because life *was* so good for those who are retired and/or reached retirement a few years ago.

For those reaching retirement now, however, things aren't as good - retirement ages are being pushed back, "professional" employment is harder to find as an older person, there's massive job displacement as older folk get manual jobs (e.g. supermaket shelf stacker) and we all start carrying around obesity and diabetes...

I've a hunch that the situation is going to reverse over the next 20 years as we (the 30-50 somethings) all start dying of stress-related disease caused by our constant "now-now-now" workloads, while trying to hold on to a job and maintain our position in the rat race.
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  #87  
Old 31.08.2011, 15:48
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Re: The only way for anyone to retire now is to become a millionare

Does Switzerland have problems with social security / government pensions as well?
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  #88  
Old 31.08.2011, 15:52
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Re: The only way for anyone to retire now is to become a millionare

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Nice story, confirming that happiness is very subjective. At the end of the day though, this person was also driven by greed.


You have no way of knowing that. For all you know that person may have been escaping from some dire situation.
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  #89  
Old 31.08.2011, 16:05
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Re: The only way for anyone to retire now is to become a millionare

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Does Switzerland have problems with social security / government pensions as well?
Directly, no. Because of the pillar system. But if CS or UBS were to go down the drain, yes....

Also, the share markets and real estate markets have a demographic hill to clime. Luckily the Swiss are the oldest population in Europe so they will be able to live off of their savings 10 years before everyone else starts to have problems.

But when Swiss baby boomers started to retire in 1992 real estate prices collapsed (ala Japan) in Switzerland. We are now at the same peak levels we were at in 1992! What happens to the rest of Europe now that they are all retiring?

It will take CH with it Im afraid. But until CS or UBS flop the govt should stay well funded.
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  #90  
Old 31.08.2011, 17:18
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Re: The only way for anyone to retire now is to become a millionare

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You have no way of knowing that. For all you know that person may have been escaping from some dire situation.
You shouldn't take things too literally. Obviously I meant "greed" in a broader sense: desire to have something which you currently don't have (regardless of whether this is money, food, safety, freedom, etc.).
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  #91  
Old 01.09.2011, 07:45
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Re: The only way for anyone to retire now is to become a millionare

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You shouldn't take things too literally. Obviously I meant "greed" in a broader sense: desire to have something which you currently don't have (regardless of whether this is money, food, safety, freedom, etc.).
So literally heh? Greed is usually used in the context of wanting something extra/more than you need. Along with words like avarice, craving, gluttony, excess (look it up if you want). No I don't think I misunderstood the word. More likely you used the wrong word...
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  #92  
Old 01.09.2011, 11:52
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Re: The only way for anyone to retire now is to become a millionare

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So literally heh? Greed is usually used in the context of wanting something extra/more than you need. Along with words like avarice, craving, gluttony, excess (look it up if you want). No I don't think I misunderstood the word. More likely you used the wrong word...
Fine, but you got the point now
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