Every high school in this country should teach a required course on how to save money and, more importantly, regarding the power of compound interest. And every parent should teach their children these same two things.
(Excerpted from Chapter 9: The Power of Compound Interest: Stickin’ it to the Matrix)
The trouble is that most parents nowadays are themselves unaware of the power of compound interest. This entire generation of parents and especially grandparents has largely bought into the matrix-controlled “get-rich” stock market scam at one level or another.
Many have taken a very cold bath. Some have taken several. And still, many cling to some fantasy that they too will be a millionaire someday if they just keep their head low and play by the matrix rules. It defies logic, not to mention indicates a moral bankruptcy unprecedented in humanity’s span of time on this planet.
The seminal event in the downgrading of the concept of savings in the US came with the Reagan Administration’s introduction of the 401K plan. This essentially privatized the retirement pension programs that most companies used to offer their employees for free.
The new 401K system was marketed as the best new thing since sliced bread. It sounded great since your employer would match your contributions to this stock exchange-based roulette scheme dollar for dollar.
What in fact had actually happened was that you were now matching your employer’s contribution to your retirement plan dollar for dollar, essentially taking that corporation off the hook for the other 50% of your retirement that it used to pay.
Thank you very much sir, may I have another?
Worse yet, that previously stable and secure pension fund that nearly every American used to be able to count on in their old age was tossed onto the roulette wheel of derivatives, hedge funds and dark pools. Free from these billions in pension liabilities, for a while the Dow Jones went straight up.
Some who retired a few years ago were able to ride the up escalator and retire millionaires. But that once-in-a-generation aberration has since turned into another bloodbath for the masses, most of whom saw their retirement savings flushed away when the various bankster-conjured bubbles, with names like Internet, NASDAQ and Housing, burst and came crashing to earth.
A handful of Illuminati banks own 90% of every company listed on a stock exchange. They buy low and sell high – to YOU. You are extremely naïve if you believe otherwise.
I was lucky to be burned early by these lunatics, and my losses were minimal. Ever since, I have taken a much safer and simpler approach to the retirement we are already enjoying.