financial guru's (demise of dollar)

[ToledoCharli]

While I do read and listen to various financial advisors I do not take everything said as gospel. As I am planning on retiring at end of year I am concerned (not that I can do anything about it) that if the financial prognosticators are correct that if my dollars end up being reduced by half then in fact I should continue working till I die. Allegedly if the bankrupted american financial system collapses whether next year or the next 5 years and the dollar is no longer the "reserve currency" as some predict where do you believe we are headed??

[CLIFFTALL]

Personally, I think you should head to another Financial Guru that won't prematurely scare you like that. The sky is not falling IMHO.

[MaverickBBD]

I have been retire ten years yesterday. Never had any problem with the dollar. I don't know where we are headed but I am not worried about chickens falling out of the sky either.

[Wizard]

Was scared almost to death 9 years ago when I retired, but really didn't have much choice. Since then we have weathered several financial crisis and decided to just don't worry about it. I do meet with my financial adviser once a year and have made some changes in investments over the years and we are still going.

If we have money to spend great, if everything goes south, well we will just make do.

Its been a great life since retirement

Jerry

[gmadams]

Retired last August and enjoying it. The DW and I are not worrying about the sky falling. Sure some of my investments are on a roller coaster ride lately, but I'm not losing any sleep over it.

[SarahW]

Originally Posted by ToledoCharli

While I do read and listen to various financial advisors I do not take everything said as gospel. As I am planning on retiring at end of year I am concerned (not that I can do anything about it) that if the financial prognosticators are correct that if my dollars end up being reduced by half then in fact I should continue working till I die. Allegedly if the bankrupted american financial system collapses whether next year or the next 5 years and the dollar is no longer the "reserve currency" as some predict where do you believe we are headed??

Only you can decide your personal financial comfort level. Think of it this way, if the entire American financial system collapses, you probably won't have a job anyhow. My hubby just turned 57 and will retire in 3 years come hell or high water. We feel secure, but who knows what the future will hold. "Don't worry...be happy."

[Mekanic]

From most of the people preaching the end is near for paper money I usually see they are selling gold or promoted by those that are selling gold or something like survival supplys.

[CLIFFTALL]

Originally Posted by Mekanic

From most of the people preaching the end is near for paper money I usually see they are selling gold or promoted by those that are selling gold or something like survival supplys.

You hit it right on the Gold bar.

[Wanabee FTer]

Investment companies want all people to work until they die so they can profit on your 401k plans. If you listen to them you need at least 10 million dollars before it's "safe" to retire.

I decided life is more important then money and retired early.

[JimmyLeggett]

I semi-reitred March of 2011, our pensions and social security are certainly not what we were accustomed to but we are adjusting. I am blessed with a job skill that is in very hight demand and pays really good, in a single 30 day trip I can make my RV expenses for the year in two trips all our extra expenses for the year.
I am not really worried, if the sky does fall, we will all be in the same leaking boat and we in the RV world at least have our RVs just in case. If it happens, no one will have anything so we will continue the march and enjoy life

[traveler of california]

So, you folks are not concerned about the 16 trillion dollar debt (which continues to grow), a federal budget that borrows 40 cents of every dollar spent, a congress and president that thinks that a cut in the rate of growth is a cut in a budget, and entitlement programs that are unsustainable. Yep, no problem here.

I'm already retired and am loving life, but to be unconcerned is a foolish strategy IMO. Just because it has always been, doesn't mean it always will be. Just look at the value of your home if you own one.

Nick

[dieselclacker]

Originally Posted by traveler of california

So, you folks are not concerned about the 16 trillion dollar debt (which continues to grow), a federal budget that borrows 40 cents of every dollar spent, a congress and president that thinks that a cut in the rate of growth is a cut in a budget, and entitlement programs that are unsustainable. Yep, no problem here.

I'm already retired and am loving life, but to be unconcerned is a foolish strategy IMO. Just because it has always been, doesn't mean it always will be. Just look at the value of your home if you own one.

Nick

Nick, as an individual, what can I do in my lifetime to alleviate the situation the country is in? I'm 73 and retired.

[srydve]

Nobody can predict the future, imho the difference between an economist and an ordinary person is the economist will try. As someone has already said you have to do what you think is right for you.

[Wizard]

If the whole country goes down the tubes, everyone will be in the same shape I'm in so we will all still be even. ALL ABOUT BROKE