dothebeats
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April 11, 2024, 06:36:33 PM |
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It sure will. If these retirement funds aren't put to use as investments, they will surely get screwed over by inflation over time. These funds stay as it is on their fiat values and isn't adjusted in any way by the banks that hold them. Even if you managed to hold $1M during your career, expect that it will go down by value by at least 10% in a decade. Better hold your assets in precious metals, crypto, or other such assets that can hold value over time if you want your retirement fund to really work out for you.
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Wakate
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April 11, 2024, 08:32:07 PM |
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It is already causing lot of problems for retired people. How much will this problem intensify in future ?
This is why before retiring you should make sure that you have everything in place. Before I retire, I need to check whether I could live the next 10 or maybe 20 years of my life depending on when I retire comfortably and if my family members are also well-taken care of. We should practice saving and investing while we are young and still not close to our retirement age. Inflation is one of the major problem we have at this present time and it is good for us to make mother adjust before retiring because things could be hard for someone that never made any plan about the life after retirement. Retirement is a time when we might not have the energy to do those things we normally do when are youth. Whether retirement or not, it is good for everyone to prepare for the future especially for when we would not have the strength to keep doing those things that we used to do without any bothers. Retirement fund can be utilized to do business so there will be inflow of money.
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boyptc
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April 11, 2024, 08:57:24 PM |
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Sure it will.
How much the pension right now will be lessening its value and purchasing power in the next 10-20 years. So, if there's no gain with the amount that they're receiving as pension then the things that they can be bought will also decrease.
This is the sad reality about life that when we grow old if we're going to receive $1k-$2k of pension monthly, how much it will be in the next decade or two.
Most likely the purchasing power of it might be like $500 or even lower at that time.
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Assface16678
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April 11, 2024, 10:24:41 PM |
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I think it's common now. What is the answer? Not just pensioned people are having a hard time with inflation, and because of the continuing increase in inflation, in no time those pensions will be enough for those who receive them. Inflation is a big problem right now in every country, but what can we do? Maybe those younger people can have their extra income or extra job just to have another source of income, and that is, I think, the most sufficient way to survive in this current era where the inflation rate is also growing. But the thing is, how about those older people that rely on their pensions? Like I said, in no time their pensions will be enough unless the country's government also increases the amount that pensioners will receive, but we know it needs to be discussed and needs further study before they approve and implement it.
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Orpichukwu
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April 11, 2024, 10:31:40 PM |
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It is already causing lot of problems for retired people. How much will this problem intensify in future ?
If those who have retired don't invest before their retirement or after their retirement and are depending on their pension plan for survival, then inflation is going to make their little earnings useless. There are no two ways about it. Unless it's those retired workers who have good investments standing out for them that yield them weekly or monthly income that won't be affected, one needs something that can meet up with the economic challenge in order to survive in an unbalanced economy. Saving cash and fixing regular pay can't do the job.
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Queentoshi
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April 11, 2024, 11:59:19 PM |
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It is already causing lot of problems for retired people. How much will this problem intensify in future ?
Most retired people who worked for the government depend on pension from the government when they are retired. And because of how much inflation is causing the prices of goods to increase, the value of the money that is paid as pension funds to these retired individuals reduces in value even before it is received by the retired personnel. This is a reason why inflation will always be a problem for retired people, and why it is imperative not to just depend on your pensions from the government as your only source of income after retirement.
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Darker45
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April 12, 2024, 01:45:30 AM |
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It has been causing lots and lots of problems since its inception. And it is problematic not just for retired people but for everybody. It is problematic even to small children who are taught to save in piggy banks. It is problematic to adults who have been working hard and saving all their lives only to end up with greatly devalued money. A significant portion of their precious energy and time spent on labor are wasted because of currency devaluation.
Imagine working hard from morning until evening 6 days a week, saved much of the salary for the future, only to realize it can only buy less than half of what it could have bought when you were saving it. That isn't fair.
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blckhawk
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April 12, 2024, 02:29:41 AM |
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If the rate of increase in retirement funds is increasing dependent to the inflation rate, it's possible that it won't be a problem to them plus there's also a lot of people right now that are on the age of retirement that's still on the politics which means that they could easily pass laws that would protect the elderly and make more benefits that would positively affect the older population. That's how I see this happening which is why it's never a worry to me that retirement people would get screwed over at their retirement years. I think that the real challenge in all of this is the fact that we still got no increase in wages that would make it so we don't have to wait for the retirement to enjoy life, it's really weird that we're too focused in retiring when there's the option that we should be able to live more while we're still working, I think a lot of us here are tired of surviving from paycheck to paycheck, maybe there's some time that we need to do some negotiations.
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Spaceman1000$
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April 12, 2024, 10:15:18 AM |
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Not that it is causing but that is how it was before if you leave your retirement savings in fiat. The government will manipulate it again and again in a way that after long time, the value if the money will decrease. That is why it is good to invest your money on assets like gold, or buy properties. You can even invest little amount on bitcoin when the bear market has been very significant.
It's only a handful of workers that can lay their hands on good money to enable them make some investments on these valuable assets, why I'm saying so is because, if you check the trajectory of the workforce in most countries, you see that some workers are earning what will take care of them and their family alone, whatever that is left for saving is literally next to nothing. So where will some of workers during their active years in service get that huge amount to invest in real estate, golds etc. however in my own thinking, it should rather be that, government should give an upward review on monthly pensions in every 10 years, at least to help the pensioners beat inflation slightly.
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Uruhara
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April 12, 2024, 10:42:01 AM |
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It sure will. If these retirement funds aren't put to use as investments, they will surely get screwed over by inflation over time. These funds stay as it is on their fiat values and isn't adjusted in any way by the banks that hold them. Even if you managed to hold $1M during your career, expect that it will go down by value by at least 10% in a decade. Better hold your assets in precious metals, crypto, or other such assets that can hold value over time if you want your retirement fund to really work out for you.
Storing fiat in the long term is just like letting its value continue to decrease. Because the price of any item in 10 years will even increase above 10% at the normal inflation rate. And if we imagine that the world is experiencing a quite bad economic crisis like what has happened in the last few years. So we can even see a 10% price increase in just a matter of days or weeks or months. High inflation and hyper inflation even haunt several countries, making their currencies worthless. So investing is always the best choice if it is for the long term. And if it's for use in retirement. So wouldn't it be better to invest in property or real estate if you consider the low level of risk? But there's no harm if we put a few percent in bitcoin too.
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tabas
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April 12, 2024, 10:58:12 AM |
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Storing fiat in the long term is just like letting its value continue to decrease.
With inflation, that's going to have a lesser value in the upcoming years. Say that there's a stable 3% yearly inflation then the value of your savings in the bank or wherever you're storing it like your vault, it's for sure going to decrease over time. That's why most of the wealthy people are investing their money and they understand the importance of making their money work for them. It sound genius and brilliant but everyone can learn it and it's no longer a trade secret that only the wealthy ones can do and know about it. Because the price of any item in 10 years will even increase above 10% at the normal inflation rate. And if we imagine that the world is experiencing a quite bad economic crisis like what has happened in the last few years.
It can even be more. With all of the cost rising effectively and they're not stopping at all. This is the new norm that we're experiencing and us while we're still quite young or when we're going to that point of retirement, we have to prepare ourselves as well. There's no way that the inflation will be stopped, it might calm down but it will never go away.
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mindrust
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April 12, 2024, 11:06:21 AM |
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It will be a problem indeed if their only income is coming from the government retirement funds. Every person should begin to plan for her/his own retirement when they are in their 20’s. The schools don’t mention any of these problems to their students so it will already be too late when you start wondering about what to do for your retirement.
What you need is a financial fortress which always produces cash under any financial circumstances.
If you start thinking about it in your 20’s or even earlier, you will reach your target wealth in your 40’s or even in your 30’s if you are lucky. Otherwise you’ll wage slaving forever till you die.
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angrybirdy
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April 12, 2024, 11:31:09 AM |
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It sure will. If these retirement funds aren't put to use as investments, they will surely get screwed over by inflation over time. These funds stay as it is on their fiat values and isn't adjusted in any way by the banks that hold them. Even if you managed to hold $1M during your career, expect that it will go down by value by at least 10% in a decade. Better hold your assets in precious metals, crypto, or other such assets that can hold value over time if you want your retirement fund to really work out for you.
Storing fiat in the long term is just like letting its value continue to decrease. Because the price of any item in 10 years will even increase above 10% at the normal inflation rate. And if we imagine that the world is experiencing a quite bad economic crisis like what has happened in the last few years. So we can even see a 10% price increase in just a matter of days or weeks or months. High inflation and hyper inflation even haunt several countries, making their currencies worthless. So investing is always the best choice if it is for the long term. And if it's for use in retirement. So wouldn't it be better to invest in property or real estate if you consider the low level of risk? But there's no harm if we put a few percent in bitcoin too. Well said, That's why I don't recommend to my closest any long term storing of fiat money because the value of our money will possibly didn't keep up with the inflation, imagine 5-10 years from now, the value of the money that you saved via fiat currency will surely decrease as economic crisis still in place. I suggest like what you have mentioned, Investing in a property, gold, real estate and crypto is much needed nowadays, it will serves you as one of your retirement funds for the future.
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sokani
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April 12, 2024, 11:38:55 AM |
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It is already causing lot of problems for retired people. How much will this problem intensify in future ?
I understand that inflation is a global phenomenon and it varies in every nation but taking my country as an example and how it is currently suffocating the lives of everyone, saving for one's retirement in fiat is a big joke. I do not expect an improvement, rather the situation will get worse for the elderly retirees as long as they continue to stock up their money in the bank instead of investing in bitcoin, gold, real estate and landed properties.
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DeathAngel
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April 12, 2024, 12:13:37 PM |
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Rising inflation can definitely become a problem for retired people. As the prices of goods & services increase the purchasing power of their retirement savings may diminish. This means that retired individuals may find it more challenging to afford the same standard of living as inflation rises. It’s important for retirees to carefully manage their finances, consider investment options that provide protection against inflation & adjust their spending habits to mitigate the impact of rising prices.
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Gaza13
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April 12, 2024, 01:30:26 PM |
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Yes, before retirement arrives, everyone must know why every year the prices of all goods rise, they must be much smarter and wiser or think hard about how to secure their assets. One way that we can win in maintaining our wealth is by investing, even though investments have less stable or fluctuating prices, this method can maintain your wealth and can also grow if you choose the right assets. and how we can generate other sources of income, not just from 1 source of income. Indeed, inflation is the most frightening enemy for all groups of people in the world who are trying to seek prosperity in their lives in this world.
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stompix
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April 12, 2024, 01:41:52 PM |
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In the future, retirement salaries will remain the same and the salaries they have will continue to lose value, making the problem worse in the future.
Not just pensioned people are having a hard time with inflation, and because of the continuing increase in inflation, in no time those pensions will be enough for those who receive them.
Most retired people who worked for the government depend on pension from the government when they are retired. And because of how much inflation is causing the prices of goods to increase, the value of the money that is paid as pension funds to these retired individuals reduces in value even before it is received by the retired personnel.
I don't know where you guys live, but in exactly what country if you retire for example with $1000 per month at 65 your pension will be still $1000 even twenty years later, and it's not indexed by at least a bit under the inflation rate? I'm really curious in what system does this happens when it comes to a government pension like the EU model. https://www.ecb.europa.eu/press/economic-bulletin/focus/2022/html/ecb.ebbox202201_08~ac43e1199c.en.htmlI never heard of a country where you get a fixed monthly pension and that value will stay like that till you die.
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Peanutswar
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April 12, 2024, 02:02:24 PM |
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It is already causing lot of problems for retired people. How much will this problem intensify in future ?
This could depend on it, some people retire already an early age or in old age if you are the kind of person who doesn't have any savings at all you can't survive inflation instead you will seek assistance to the people surrounding them, if you have a savings, you can sustain at least with the help of your benefits but not in the long run because possible inflation increase year by year and the amount of your savings will be the same but the expenses get increase. The last one is if you have an asset, investment and savings you could easily survive with inflation, your money has a continuous rotation of earnings, expenses and profit so you don't need to worry about inflation for the coming years yet if your investments are still sustainable.
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kryptqnick
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April 12, 2024, 02:20:37 PM |
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I think inflation is a big challenge when it's very high, and it hits vulnerable people more than other people because they're already struggling and inflation just exacerbates the problems. In my country, the elderly are a big social group, and also a very vulnerable one (with a higher poverty rate than average). So yeah, inflation is a challenge for them, and considering that the Pension Fund is getting smaller, it will be an even bigger challenge in 10–20 years, unless we figure out how to improve the overall economic situation and the pension situation specifically. But that all can be different in another country.
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poodle63
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April 12, 2024, 02:27:43 PM |
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I think inflation is a big challenge when it's very high, and it hits vulnerable people more than other people because they're already struggling and inflation just exacerbates the problems. In my country, the elderly are a big social group, and also a very vulnerable one (with a higher poverty rate than average). So yeah, inflation is a challenge for them, and considering that the Pension Fund is getting smaller, it will be an even bigger challenge in 10–20 years, unless we figure out how to improve the overall economic situation and the pension situation specifically. But that all can be different in another country.
the only way is to repurpose that pension fund through investment where it might yield enough to overcome inflation, just remember at the time of pandemic the inflation is really overwhelming even the effect still can be felt until today where the price of commodity and basic needs are sky rocketing and it never come down even after the pandemic itself is finally coming to an end. inflation will really affect those pension fund that just being kept not reinvested but knowing that even investing might not be the best idea because inherent risk carried also something need to be taken into account too. there's just really no solution yet to overcome this problem, elderly people are the ones that actually really in need of money aside from fulfilling their basic need such as food and clothing the elderly people are also have their share of problems too, hopefully though there will be solution to this, otherwise the pension fund worth will just get smaller and smaller over the course of the year.
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