Here’s a retirement strategy: Bet against Wall Street honchos, get rich MarketWatch 1 day ago
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Well, it looks like my dream of retiring early and rich on the backs of the crypto mania is going up in virtual smoke.
shocked, that the governments of the world’s two biggest economies are cracking down on a financial product tailor-made for money laundering, tax evasion and crime.
(The offshore mafia that hijacked the Colonial pipeline, causing so much chaos and misery across the Southeast, used bitcoin to collect their $4.4 million ransom. But
Shhh! Nixed portfolio crushes Wall Street — again msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Think you can rely on the 4% rule in retirement? Think again. MarketWatch 6 hrs ago
Wouldn’t it be great if we could predict the future?
Then we’d know exactly how much we needed to save to have a safe and comfortable retirement. We’d know how long we would need to make our money last. We’d know how much we would need to spend each year. And, crucially, we’d know how much our investments would earn each year.
Alas, for the real world! We don’t know how long we’re going to live (which is the argument for lifetime annuities). We don’t know what will happen to inflation (which is the argument for inflation-protected Treasury bonds, or would be if they weren’t already overpriced). And, no, we don’t know how much our investments will earn each year.
The S&P 500 index SPX, +0.60% ? Try 18%.
Even a simple balanced fund of U.S. stocks and bonds, such as the Vanguard Balanced Index Fund VBIAX, +1.08%, earned 16%.
And the giant pension and investment fund run by the government of Norway earned 10.9%.
The returns earned by Social Security is the scandal that keeps on taking. The previous year, the Norwegian pension fund gained 20%, the balanced index fund 22%, and the S&P 500 31%.
Your and my Social Security dollars? Just 2.2%.
Why should Congress care what happens to your money once they have it to spend?
7 Best Balanced Funds to Pick Right Now yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.