Your Pension Is Gone
How I do my homework to give myself control
(Listen to audio version of me reading👆)
One of my good friends just told me a story about his father who used to work at Delphi in Michigan.
The “great financial crisis” crash 12 years ago where they cut all the white-collar workers pensions.
He was brought in one day. Sat down and told how it was going to go…
“Rick, we have bad news. Your pension is getting drastically cut. Everything you have worked decades for is going out the window.”
Working decades under the illusion that everything you had worked for would be there so you could enjoy your golden years.
Nope. Big lie. Too big to fail meant: “you don’t get what you worked for and left your family for each day so we could bail out politicians and elites.”
Printing currency, increasing inflationary costs, and bailing out the elites.
This happened across-the-board at many companies and those were looking to retire at that time were either thrown back into work scrounging for their living expenses or going on the government dole.
By the way, Rick now only gets around $900/month of his pension, a fraction of what he was promised.
Robert Kiyosaki talks about people who come to him all the time and ask what they should do with their cash, “Hey, I have $10,000 what should I do with it?”
He always directs them to spending it on educating themselves and developing skills.
Kiyosaki reiterates, “If you don’t have the skills necessary to grow your wealth you can be sure hucksters will be there to take it and “manage it” for you.”
You can’t just tell someone where to put their money because there’s much more to it than that;
When do I take it out?
Do I short things or go long?
Do I hedge? Speaking of that what does that even mean?
Is an IRA better for me or do I not believe in the government long-term?
Should I invest in an asset I don’t even know about and understand and how it affects my portfolio?
Do I understand how to change those investments as the market changes?
These are just some of the few hundred questions you could ask that will alter how you invest.
Getting hot tips from somebody only gets you so far.
Even if a hot tip worked out and you sold at the right time you would still be left with a huge tax bill most likely.
So, how do you minimize taxes?
How do you get rid of taxes completely?
Can you answer these questions?
We know that mathematically Social Security, Medicare, and Medicaid won’t be here at some point in the near future.
Even if you get paid out it will be through bail outs from the government that will increase inflation and the cost of everything you’re buying will go up anyway.
So what do you do?
That being said these are some of the sites that I use to inform myself and my investing so I can hopefully make sound and responsible decisions.
I am not a day trader and I don’t try to “time markets.”
I try to full-proof what I’m doing as much as possible.
I like long time horizons and looking back at charts with a long scope to position myself fundamentally with where the world is headed.
Here are some of the resources I use on a daily basis to keep informed and stay ahead:
YouTube channels:
Sites I use to do macro analysis:
I am a forever student and will never be an expert at any of this.
I use my mentors and my teachers as a guide to formulate my opinions.
Formulating my own opinions and making my own decisions with our entire portfolio as been one of the most freeing activities I have ever undertaken.
The feeling of liberation and control of your situation is very real.
Stay strong,
Brandon