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Wednesday, November 25, 2009

Retirement planning

Americans refuse to look at their retirement portfolios and ask this question: "Will I be able to live comfortably on this capital?" With interest rates at banks under 1%, the answer is obvious: no. Yet they do not change. They do not triple or quadruple their rate of savings. They do not plan to stay in the work force until 75 or 80. They do not buy foreign currencies or gold. They do not plan to start a business to retire into.
-- from "Kicking the Can While Riding a Tiger" by Gary North (November 25, 2009).

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