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July 16, 2018


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As for the first there are a significant number of people who choose to not figure out how much they will need. These are the ones who have no idea how much they spend.

As for the second, these are likely combined of people who love to work and do not wish to retire as well as those who for a variety of reasons live hand to mouth. An excellent book holds that title ‘Hand to mouth’ I encourage people to read it and others like it and you will see how so many have been left behind by the economy.

The readers of this and other financial blogs are the minority, The choir so to speak

I'm not sure that this is even a big deal. Many people, like myself, enjoy our work, and it represents a significant part of our identity. I'm not saying this is necessarily good or bad, but it is the truth. Also, at a "peak" part of the investment cycle, it emboldens people to take risks...stocks have more than quadrupled since the bottom and I suspect that even a small correction will immediately tip the economy into recession since so many people are using their stock gains to subsidize their spending (the so-called "wealth effect" as stated by the US Federal Reserve). People have become accustomed to 15% per annum returns as normal, which it is not. We've essentially moved forward stock returns at the expense of future growth. Millions will not be prepared for when their investments undergo a decline or years of stagnant growth.

I think alot of this is down to short-term thinking. People typically only care about today or at most one year ahead.

I speak as someone with exposure to the UK market where we have the same problem. It is made worse by group-think as demonstrated by the attitude alot of millenials have towards money.

Many believe they have been dealt a bad hand and eternally doomed! As such, the ideas around saving, investing and making more money aren't practised as much as they need to be let alone thoughts of retirement (seen as far far away).

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