self funded retirees

[wheelinround]

"Every money investment can go crap at some stage", repeat, "EVERY MONEY INVESTMENT CAN GO CRAP AT SOME STAGE", etc, etc, etc ad nauseum. That is why you always sign a waiver, whether you know it or not you always sign a waiver. Look for words such as "past performance does not indicate future returns" or "independent advice is recommended for all investments" or suchlike. The cant be an iron clad "you will not lose your money" guarantee without a zero or negative rate of return. Investment involves risk. You bank account will make minimal interest because it is guaranteed by the Govt, but apart from that... stuff happens, thats life. Banks go broke too... thats life.

Advisors make mistakes. When you turn wood you know there is a risk of slipping and ruining the wood, your equipment or your flesh. Its a risk you take and you wouldnt dream of trying risky stuff without checking it out with someone who you knew to be a competent turner. The difference with money is that people do take on risks without understanding them. And the investment world is more like a shark pool than a woodturners club. Thats just how it is. So "Every money investment can go crap at some stage". "If you cant run with the big dogs, stay on the porch"

Yep thats all so true and something my father taught me when I was about 7 years old.
Now if we have known and learnt the lessons well since the crash of the Great Depression would you agree and by reading what you have stated there should be less risk.
Well it doesn't happen because White Collar crooks don't get caught and we let them use such things as Waiver's be their get out of jail card.

As I said the people we hand our hard earned $$$ to are supposed to be the trained ones at what point do you not see they have to be held accountable, same as a mechanic who says your car is in tip top condition, you drive it away to find it has no breaks. Here we have laws to bring him to court. We see tradies being brought before the courts on lesser matters and fined, loss of licence etc.

So your saying all these people have to accept that bad things happen , its part of life get over it you chose that tradie.

[wheelinround]

Other points to consider as to how all this has happened and why we can't go back to the good old days when everything was made at home are to do with life expectancy and world population.

In fact when were the good old days when everything was self contained? If you go back to the 1850's and the start of the industrial age the male life expectancy was something like 38 years of age, world population about 1300 million. By the 1950's the world population was starting to rocket up from 2500 million and life expectancy was 66. Today the population is around 6500 million and life expectancy around 75.

File:World-Population-1800-2100.png - Wikipedia, the free encyclopedia

Life Expectancy by Age, 1850–2004 — Infoplease.com

WoW and on top of that we have more Politicians we have to keep and more government employee's who retire at younger ages on full pensions which are paid for by consumers which use the companies such as Telstra where the government invest to help pay for these pensions who might just go down the gurgler.

Hum Paul Keating Bob Hawk mid to late 1980's crash, high interest, loss of many people pensions. The big move to bring in mandatory self funded pensions. Government pensions were cut back as to many were sitting back enjoying a weeks wage for doing nothing.

[hughie]

'Rant on'
Well at the end of the day 'the people' deserve the Govt they get.This concept of changing Govt cos they have been in too long needs to be looked at. We should only change if they are stuffing up.

But the problem is more fundamental than that. We in the western world have been choosing our leaders for at least the last 150years by a criteria that has got us where we are today.

There was a time when we chose leaders by their integrity and content of character. But we moved away from this to using Charisma as a yard stick. They have foisted upon us the locked down two party system.That prevents good men, if they have any, from doing whats right at the time and what best for the country.
'rant off'