I've laid this out before but it's time to do it again, because it's coming folks.
The recent ditty on how "nobody needs more than $3m for retirement", defined as "whatever you need to get a $200,000 annuity", is just one facet of how this will play out.
Since I started writing The Ticker I have been repeatedly asked where one should put their assets to evade confiscation, whether through outright acts of theft, devaluation or any other means.
The simple answer: There isn't a reasonably-safe means of doing that for anyone who does not possess enough wealth to be willing to write off 20, 40 or even 60% of it and who doesn't have enough to be able to***** away 1% or more of it annually in compliance, monitoring and associated costs.
That basically means if you don't have tens of millions (and the first digit isn't a "1" either) you're not in that game. If you are then you can do a whole host of things that are reasonably certain to "work", where "work" is defined as "won't lose enough of it to wind up in the street" with a confidence level in the 90s or better.
Monday, April 08, 2013
How They Will Steal Your Retirement
How They Will Steal Your Retirement in [Market-Ticker]
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