Early Retirement Blog

The reason the early retirement blog spends so much time focusing on Social Security, is because Social Security and Medicare, are the largest assets owned by most Americans.  How much is your Social Security asset worth?

An article by Rex Nutting in Market Watch details a study which reveals how much Social Security and Medicare are worth, and the author tries to explain why the rich want to steal the programs from the middle class.

The survey conducted by the National Institute on Aging found that the typical American household has a net worth of $67,000, take out their house, and they only have $15,000 in retirement savings.  Americans in retirement are slightly better off, they have an average net worth of $171,000, take their house of the equation, and they have $43,000 in retirement savings.

The present lifetime value of their Social Security income would be worth $315,000 and $190,000 for Medicare.  The typical American’s Social Security and Medicare benefits are worth $505,000 combined, about half of these families also had a defined-benefit pension, worth on average, $140,000. the total  accounts for 76% of the typical American’s retirement savings.

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Most Americans would retire in poverty, or not at all, without Social Security and Medicare.  Programs for which they paid into when they were working.  The author claims that the rich want to rob Social Security and Medicare because they don’t need the programs.  This is true, but not the only reason, there are other reasons why the rich want and need to rob the retirements of the American Middle Class.

Our government, owned by the wealthy elite, has borrowed all the money from the Social Security trust fund and does not want to pay it back.  If the government has to pay back the American people for the money it borrowed, it would have to raise taxes on the only people left who have money, the wealthy elite.  Which is why the wealthy have waged class war against the Middle Class.

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What basically happened with Social Security, is that the government borrowed the money, and used it to cut taxes for the wealthy and for corporate welfare.  The wealthy and their corporations don’t want to give the money back.

If the government has to honor it’s debt to the American people, it will have to borrow more money, and interest rates will rise.  If interest rates rise, the value of the U.S. Treasury Bonds the rich own will collapse, and so the government wants to sacrifice Social Security to keep interest rates low. It’s also why Obama favors the fraudulent accounting gimmick called Chained CPI.

There are other reasons why the rich want and need to rob Social Security, which I won’t go into boring detail right now, but suffice it to say a robbery of the Middle Class is taking place.  And Social Security is all most Americans have left for retirement.

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Why is Gold crashing?  Why the sudden collapse of Gold?  What has changed in the world to warrant such a sudden and dramatic downturn in the price of gold?

Why are commodities falling? And also, perhaps related, why did the alternative currency Bitcoin suddenly collapse at the same time?

There is no good reason or explanation for why Gold, Commodities, and Bitcoin are so suddenly and violently collapsing.  Nothing of any significance has happened in the economic, political, or financial world in the last few days, to provide an excuse for the bottom falling out of gold prices.  Tiny Cyprus selling their tiny gold position, the Chinese economy may be cooling, the Japanese are messing with their currency.  None of these stories are significant enough to lead to panic gold selling.

Without a valid reason, all we can do is speculate, on speculation, and speculators.

Before we do, here is what we do know, about the sudden plunge in gold prices.  On April 10th, just a couple of days before the gold collapse started, Goldman Sachs put out a public statement advising their clients to Short Gold. Read.  Could this have been the trigger, the signal to speculators, to dump their gold positions?  Did Goldman Sachs already have short positions before they made the call and sparked panic selling?  It wouldn’t be the first time Goldman Sachs made money by manipulating a market.  Housing anyone?

When the economy was collapsing back in 2008, and gold was at $800 an ounce, I wrote about gold as part of a retirement portfolio.  When gold hit $1,200 an ounce, a couple of years later, I wrote that gold may be a bubble.

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Yet, Goldman Sachs makes calls all the time, which do not have such a huge impact.  What was so special about their short call on gold?  Here’s what else we do know about gold, from the article I wrote a couple of years back calling gold a bubble, at that time there was 80 times as much paper gold as there was physical gold.  Gold was leveraged 80 times!  There was a tremendous amount of gold speculation.  What is the leverage in gold today?

One of the explanations or speculations for why gold is falling so dramatically is that, precisely because there is so much leverage or speculation in gold, that when the price falls margin calls kick-in forcing an even larger sell-off.  It could be that the combination of Goldman Sach’s short gold call, and the humungous amount of leverage in gold, caused the collapse of gold prices.

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What about Bitcoin?  Why did Bitcoin lose 80% of it’s value overnight?  Are the collapse of Bitcoin and Gold related? We do know that Bitcoin has recently been getting a lot of negative attention, from bankers and their friends, worried that Bitcoin may eventually become a valid alternative currency.  We also know that there has been a lot of speculation in Bitcoin.  The Winklevoss twins of Facebook infamy held $11 million in Bitcoins before the crash. Story.

How and why did Bitcoin crash? Who crashed Bitcoin? No one knows.  What we do know is that there is a lot of speculation going on in a lot of markets.  We do know that “market makers” like Goldman Sachs create markets, blow them up into bubbles and burst bubbles for profits. Is that what happened with gold and Bitcoin?  Maybe there is something even bigger and deeper going on. It’s all speculation at this point.

But there is one last thing we do know, the markets, all the markets, are completely manipulated, and Investing is for Fools, Idiots, and Dummies.  Learn how to save, not invest, and retire early.  Read:  How to Retire Early

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President Obama has announced once again his desire to rob Social Security, in exchange for maybe some unspecified tax hikes from Republicans, for the 2014 federal budget. (article) The Obama Social Security plan is a robbery.

From before Obama became president, the Early Retirement Blog has been warning that Obama plans to rob Social Security and Medicare (read article),  that Obama is a Trojan Horse for the 1% wealthy elite who have been on a decades long crusade to rob Social Security and Medicare.

The billionaires who selected Obama president, and who he represents, the trust fund families and Wall Street private equity barons and Mutual Fund Mafia, have wanted to destroy Social Security and Medicare from the day the programs were created.  These sociopaths have conspired,  in a well organized and disciplined class war agenda stretching back generations.  This ain’t  a theory folks, Warren Buffet admitted the existence of a class war, and that his class was winning.

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The wealthy elite for years have used their corporate owned mainstream media,  to spread financial propaganda, and brainwash the American people into believing that Social Security is a welfare program for blacks, minorities, and lazy people.  For an example of how the elites use the mainstream financial media to condition the American people, read Investing is for Idiots, Dummies, and Fools, and watch the “Economic Easter Bunny has lost a Spring in it’s Step” video.

For a detailed description of how and why the wealthy are engaged in class war against the American people read:
History of  Class War in America

Obama plans to use accounting gimmicks, something called the Chained CPI, to rob Social Security.  Unlike the clumsy bank robbery in Cyprus, where the banksters knocked depositors over the head and stole their money, our more sophisticated criminals plan to financially bleed the American people to death.

Under Obama’s plan to rob Social Security and Medicare, using the Chained CPI, benefits would rise slower than inflation.  Obama’s proposal would rob $130 billion over 10 years from Social Security and Medicare.  This time Obama is not even “Pretending to Save Social Security.”

Obama’s Social Security and Medicare plan is a robbery, because he is not paying back to the American people, the money that was taxed from their paychecks and placed into the Social Security and Medicare programs.  These programs are called entitlements, because you the American people, are entitled to receive back the money you put into Social Security and Medicare.

Obama has tried, and failed, to give away Social Security and Medicare to the Republicans, during the Debt Ceiling Crisis, the Fiscal Cliff, and the Sequester.  Fortunately, the wealthy elite who own the Republican Party, hate paying taxes more than they hate the American people.  At the last minute the Republicans rejected Obama’s poison pill, fearing a backlash from their greedy wealthy sponsors, and the angry elderly white voters which makes up their base and who depend on socialist Social Security for their survival.

But the criminal-in-chief Obama keeps trying.  Subscribe to the Early Retirement Blog to keep track of the thieves who plan to steal Social Security, and in the next article I will describe how to save Social Security.  Hint:  It’s going to require that the American people stop falling for the Guns, Gays, and God divide and rule strategy, which has been so successfully employed by the elites.

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Cyprus is a warm and sunny Mediterranean island where many expatriates choose to retire.  A former British colony, Cyprus is a popular retirement location for Brits, and more recently wealthy Russians seeking to hide their savings.

They both chose the wrong location for retirement, as the Cypriot government announced this past weekend, that it will rob tax up to 10% of their deposits in Cyprus banks, in exchange for a 10 billion Euro bailout package.  The retirement / bank robbery in Cyprus highlights one of the many risks of retiring overseas.

Other risks in retiring overseas are the impact of currency wars and currency devaluation.  Both can wreak havoc on the finances of individuals and couples, whose retirement income comes from their home country, while their expenses are incurred in their host country, and who keep a large portion of their savings in their host country.

If they live in an overseas country where the value of their currency is rising due to the inflow of money from currency speculators, the income they derive from their pension and savings in their home country, buys less goods and services in their host country.  And if their host country devalues it’s currency, the value of their savings in the host country declines.

Expatriate retirees can easily become  collateral damage in a financial war.  Making the allure of living in a low cost of living foreign locale an expensive and costly trap.  Currency Wars and Currency Devaluation is what is happening to expatriate retirees right now in Costa Rica and Venezuela.

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What makes the Cyprus retirement bank robbery so shocking,  is that even though Cyprus is a sunny Mediterranean island, it is not a third world Latin American country being attacked by marauding Wall Street hedge fund managers or ruled by a demi-dictator, but instead Cyprus is a European country, a member of the European Union, and the clumsy thieves are the EU and the IMF.

The Cyprus retirement robbery was carried out in an unprofessional thuggish and brutish manner unbecoming of either the EU or IMF.  That is what is shocking, not that the IMF and EU are thieves, but that their robbery of Cyprus was so amateurish.

Here in the U.S., our banks and governments are much more sophisticated criminals, and use subtle means to steal peoples retirements.  Like raising the retirement age by 2 years or creating something called the Chained CPI.  Here in the U.S. we take our time to lay the ground work for the theft.  Creating a series of phony crises like the Fiscal Cliff, Debt Ceiling Crisis, and Sequester.  We employ our politicians to sell the need for “Shared Sacrifice”.  And use the corporate owned media to saturate the people with misleading and manipulative stories, before we take their life savings.

When the Wall Street owned U.S. Government robs the people of their retirement and life savings, it is accomplished with a controlled demolition, using fear and ignorance, with a hint of panic, leaving the victims confused and believing there was no alternative but to surrender their life savings.

What is happening in Cyprus is pure panic.  The EU and IMF completely botched their robbery of Cyprus, and risk spreading the panic to the rest of the European countries, and since all economies are now globally connected, risk spreading it to the U.S.  If your money is not safe in the bank, if the government can overnight rob your savings, what do you do?  You stop putting your money in banks, you take your money out of banks, you use your savings to buy gold.  And the system collapses.

This is why the poorly executed Cyprus Retirement Bank Robbery has the financial elite concerned.

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With the Dow over 14,000 and the S&P 500 over 1,500, both indexes at historical highs, if you have been delaying your retirement, is now the time to retire?

If you delayed your retirement after the 2008 stock market crash, the recent record highs in the Dow and S&P indexes, means that you have recovered most your losses.  The housing market has bottomed and both home sales and home prices are up.  What are you waiting for?  Why don’t you take advantage of this moment and retire?

Millions of Americans needlessly delayed their retirement after the 2008 stock market crash.  Needlessly, because if you retired after the stock market crash in 2008, you would have received a 15% average annual return on the S&P 500.  If you followed our recommended asset allocation model of 70% S&P 500 and 30% U.S. Treasury Bonds, you would have earned an 11% average annual return.

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Seriously, if you are one of the millions of Americans who are needlessly delaying retirement because of the stock market crash, now that the Dow is at 14,000 and the S&P 500 is at 1,500, what is your excuse for not retiring?

Here are a 3 good reasons to retire now.

1.  Your net worth at retirement determines how much you can spend in retirement.  A higher net worth from a higher Dow and S&P 500 means you can spend more in retirement.

2.  Retiring now protects your retirement benefits.  The government is hell bent on robbing the retirement benefits of future retirees.  Retiring now could protect your Social Security and Medicare payments from benefit theft.  Current retirees will most likely have their benefits protected.

3.  Retiring now helps the economy and your retirement.  If the millions of Americans who delayed their retirements retire now, unemployment will go down, wages will go up, tax revenues will increase, Social Security and Medicare revenues will go up, money trapped in retirement savings will enter the economy.  You will actually help your future retirement income by retiring.

If you want to take advantage of the record high Dow and S&P 500 and retire now, here are some free retirement tools to help you.

For a quick estimate of how much you can spend in retirement, if you retire now, try our Free Retirement Calculator.  Or better yet, for a more accurate calculation, and a 30 year retirement spending plan, download and use our Free Retirement Planning Software.

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Even Obama admits the Sequester is a manufactured crisis.  Just another in a long line of phony, fake, made-up Washington manufactured economic crises. 

This article reveals the origins and truth behind the Sequester manufactured crisis.

First came the Debt Ceiling Crisis, then the Fiscal Cliff Crisis, another Debt Ceiling Crisis, and now the Sequester Crisis. All manufactured crises.

All these manufactured crises came with grave warnings of a global economic collapse, doomsday, financial armageddon.  Obama, Democrats, and Republicans, all tried to use these manufactured crises, to benefit their political aims and their wealthy sponsors.

In each of these manufactured crises, Republicans, Democrats, and President Obama tried to panic the American people and investors.

During the debt ceiling crisis Obama tried to crash the stock market and failed.  With the sequester came warnings that toilets will be closed in National Parks, children will go hungry, and crippled veterans will be dumped onto the streets.

In the Debt Ceiling Crisis and Fiscal Cliff Crisis,  Republicans tried to scare the crap out of the American people, with warnings that the dollar will collapse and America will turn into Greece.  With pretzel logic they tried to convince the American people that cutting taxes on the wealthy, while destroying Social Security and Medicare, is the only way to save the economy.

The President, Democrats, Republicans, all use the American people and economy as hostages, in a sick game of economic chicken.  The American people and investors sit in the passenger seat, time and again, watching these sociopathic lunatics drive the economy at each other in a twisted version of “Groundhog Day“.

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The politicians  use of  fear to manipulate the American people, in an effort to achieve their political and financial agendas, has gotten out of control.  This time, with the Sequester, Washington may have finally “Jumped the Shark“.

Even though thankfully, almost no one is paying attention to the Sequester,  it is still somewhat interesting and instructive to know how we ended up with the dun..dun..dun..Sequester.

We got the Sequester, automatic cuts to the budget, because the Sequester was used as a tool in the politicians game of economic chicken during the 2011 phony debt ceiling crisis.  It was meant to scare the bases of the Democratic and Republican parties into agreeing to a “Grand Bargain”.   Cuts to both Defense and Social spending were placed into the Sequester Bill.

The Grand Bargain was Obama’s plan from before he became president, to create economic growth by cutting Social Security and Medicare, while also modestly raising taxes on the wealthy.  Similar policies were used by President Reagan and President Clinton to successfully create economic growth and Obama was simply following their example.

The manufactured Debt Ceiling Crisis and Fiscal Cliff Crisis were used as a means to get the American people to agree to the Grand Bargain.  However, the wealthy elite 1% backers of the Republicans, greedy to the core, refused to give an inch on raising taxes.  That didn’t stop  Obama from offering up Social Security and Medicare anyway, during the equally phony Fiscal Cliff Crisis, to the Republicans in exchange for nothing.

The Republicans smelled a trap, and at the last minute, refused Obama’s offer of Social Security and Medicare cuts.  The base of the Republican Party, the actual dimbots who vote Republican and not the wealthy elite 1% who bankroll them, is made up of angry old white voters who not only love their commie Social Security and Medicare programs, but who also depend on them for their survival.

If the Republicans had agreed to Obama’s sell-out of Social Security and Medicare, the Republicans would have lost the Congress, and any hope of the Presidency for years to come.  Senator John McCain said it best during Debt Ceiling Crisis II…

“It’s a very bad, losing proposition,” McCain said. “What [Democrats] are saying now is, ‘Republicans want to preserve tax breaks for rich people and give up seniors’ Social Security.’ That’s the argument they’re using. Now whether it’s valid or not, it’s a winning argument. It should be off the table. And I think most Republicans believe it should be off the table.”

So, the Republicans chickened out at the end, Obama called their bluff, the Republicans folded, and Obama won a Pyrrhic Victory.  Social Security and Medicare were pulled off the Fiscal Cliff and the wealthy got no tax cuts.  Status quo.   Unfortunately, the Sequester Bill had been passed, the Republicans are obviously not interested in helping Obama out of the sequester, and so now the nation is stuck with the cuts.

The good news out of the latest manufactured crisis, the Sequester, is that the American people and investors may have finally stopped paying attention to the sociopaths in Washington.  Try as he might, fully using the corporate owned prostitute mainstream media, which has been pimping out non-stop stories of the horrors awaiting the American people if the sequester were to happen, the American people paid no attention, and investors raised the Dow to a near all time high.

Obama being the slick politician, is aware that the manufactured economic crises are no longer having the appropriate terrorizing effect on the American people, and he does not want to spend his second term going from one manufactured crisis to another with no political benefit.

Obama would rather spend his second term lining up post-presidency corporate gigs, his dictators speaking tour, create his own global capitalist raping initiative which has earned former President Clinton over $100 million, and writing his narcissistic memoir which will be bought for millions as a payoff by some corporate owned publishing company.

So, hopefully, the Sequester flop, failure, bomb, signals the end of Washington’s manufactured economic crises.  Then again, we are dealing with sociopaths, so one must always be vigilant.  Their next con game to rob the American people is most probably already in the works.

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Pope Benedict announced his sudden early retirement today, citing poor health, sending shock waves through the Catholic world.  85 year old Pope Benedict, is the first pope in 600 years, since 1415 to retire early.  All the other Popes never retired, they literally died at work, and were carried out of the Vatican on a stretcher.

What is it about the Catholic Church that it promotes workaholic Popes?  The response to Pope Benedict’s early retirement announcement has been harsh.  “Pope John Paul II decided to stay on the papal throne until the end of his life because he felt that it is not right to come down from the cross,” said the cardinal of Krakow, Stanislaw Dziwisz, the personal secretary of Pope John Paul II.

Apparently, many Catholics believe “work” is a cross, good Christians must bear.  However, it appears that Pope Benedict, has always been an early retirement dreamer.  Committing a cardinal sin in the eyes of some  Catholics.

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When Benedict was elected pope at age 78 — already the oldest pope elected in nearly 300 years — he had been already planning to retire as the Vatican’s chief orthodoxy watchdog to spend his final years writing in the “peace and quiet” of his native Bavaria.

Unfortunately for Pope Benedict, due to retiring in ill health, it seems that he will not get his early retirement dream of writing in peace and quiet in his native Bavaria, but will instead spend his remaining time on earth in the noisy Vatican nursing home.

The lesson here, the moral of this story, is don’t be like Pope Benedict.  Don’t delay your early retirement plans to please others within your organization.  Don’t be a workaholic.  Don’t wait until it’s too late.

Fortunately, you don’t have to be like Pope Benedict, and bear the cross of work.  We have the free retirement tools you need to avoid the path the Pontiff has taken.  Free retirement tools which enable you to live your dreams on earth, because, you never know what comes next – it could be work.

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More Americans are planning to delay retirement reports the Conference Board and the Wall Street Journal.  Not just more, but many many more, since the last survey two years ago.

Two years ago, 42% of respondents expected to delay their retirements, today the number of people expecting to delay their retirements has risen to 62%  Nearly two-thirds of American workers believe that they will have to delay their retirement.

Contrary to what  Kevin Cahill, an economist at the Sloan Center on Aging and Work at Boston College, who told the Wall Street Journal that, “Keeping older Americans in the work force is a good thing.”  Keeping Americans working is a bad thing.

American workers delaying their retirements is bad for the economy and society.  It prevents an economic recovery and keeps college graduate and overall unemployment high.

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The good news, is that contrary to what the majority of American workers now believe, they do not need to delay their retirements.  American workers can retire as planned.  The reason why American workers believe they need to delay their retirement, is due to the faulty retirement planning formula used by Wall Street based financial planners, which vastly overestimates the amount of savings a person needs to retire.

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The truth is that millions of American workers, who are delaying their retirements, can stop delaying and retire now, or retire much earlier than they realize.  Use our free retirement tools, software, calculators, planning guide, to find out how much savings you really need for retirement and if you can retire now.

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“Hurry up and die”, was the suggestion Japanese Deputy Prime Minister Taro Aso gave at a panel discussion on Social Security reform, to reduce the burden on the Japanese government’s retirement programs.

Back in 2008 Taro Aso famously called elderly Japanese “feeble”, then complained, “Why should I have to pay taxes for people who just sit around and do nothing but eat and drink?”

Leaders with this warped outlook on the elderly are not unique to Japan.  Here in the United States, we have politicians and business leaders, who hold the same sociopathic view.

Former Senator Alan Simpson, appointed by President Obama to the Cat Food Commission to destroy Social Security and Medicare, called the elderly “Greedy Geezers” and compared Americans to 310 million tits.

Simpson wrote in an email to the executive director of National Older Women’s League “And yes, I’ve made some plenty smart cracks about people on Social Security who milk it to the last degree. You know ‘em too. It’s the same with any system in America. We’ve reached a point now where it’s like a milk cow with 310 million tits!”

What drives these sociopathic bastard leaders is a shared philosophical belief called Social Darwinism.

Social Darwinism is the application of Charles Darwin’s theory of Natural Selection, survival of the fittest, to society as a whole.  Where the fittest and superior members of society gain wealth and prosper, while the weakest and inferior members of society remain poor and perish.

Applied to retirement, Social Darwinism goes like this:  “I worked hard and saved, created a successful company, or was born into a wealthy family, therefore I can retire.  You,  because you are stupid or lazy, or for whatever reason, did not work hard and save, therefore you cannot retire.  Too bad – survival of the fittest.”

These “leaders” believe they are doing society and humanity a favor by weeding out the inferior members.  This view was actually quite popular in the early part of the last century, and gave rise to the Eugenics movement, and Hitler.  It is still considered impolite to express this view in public, however, every once in a while, a leader will slip-up and reveal their ugly inner thoughts.

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This demonic philosophy of Social Darwinism has always existed among the wealthy elite.  Aand is the driving force behind the covert class war, that has been waged in earnest since President Reagan, against the poor and middle class for the past 40 years.

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All the world's a stage,
And all the men and women merely players:
They have their exits and their entrances;
And one man in his time plays many parts...
- William Shakespeare

Hey folks!  The Debt Ceiling Crisis is back again! Like the 13th sequel of a predictable horror movie, the debt ceiling crisis is set to re-appear in mainstream media theaters, and this time the producers are sure they’ll be able to scare you out of your retirement.

The producers, Obama and Congress know the debt ceiling crisis is a tired old script, but like their Hollywood counterparts are confident that enough idiots people will attend.

The Debt Ceiling Crisis press tour kicked off this morning, with lead actor Barack Obama holding a rare press conference at the White House, to warn the American people that this debt ceiling crisis will be even scarier than the last.  The Hollywood White House press corp was all a twitter as Obama laid out the plot.

“There are these chainsaw hacking zombies Republicans who take the government hostage and threaten to kill the global economy unless they get to slash the corpses of the middle class.” Explained the president to the Washington paparazzi.

“Isn’t that what happened the last movie time?  What makes these zombies Republicans different?” Asked one reporter.  “They’re even meaner and hungrier for middle class blood spending cuts.” Responded the president.

Finally, the president was asked how the debt ceiling crisis will end this time.  “You’ll all have to watch.” Replied Obama.

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Seriously.  This whole debt ceiling crisis thing  is getting stupid.  And anyone who takes these financial terrorists seriously, they are financial terrorists because they terrorize the public using threats and fear of financial collapse, is even stupider.  These manufactured economic crises, used to increase or preserve the profits of the wealthy elite, are becoming more and more transparent each time.

Fortunately, I think that this time, President Obama is genuinely uninterested in appearing in another pseudo-financial crisis.  After twice having tried and failed to give away Social Security and Medicare to the Republicans, in exchange for modest tax increases on the wealthy, Obama is not interested in spending his second term constantly having to play in these fiscal/debt ceiling crisis.

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Every time Obama has entered one of these dramas, the Republicans have gone off script, and caused the president nothing but headaches.  So, hopefully, we may have seen the end of these financial horror movies.  That’s why I think you see the president in the same press conference, trying to switch the debate away from the debt ceiling crisis, to something non-financial that Republicans and Democrats can get all worked-up and disagree about – Guns.

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