SpencerM
Recycles dryer sheets
I see a greater conflict in the near future that will affect many here. Increasing jealously between those who prepare themselves financially, and those that do not. Those that do not will increasing seek a government solution to their lack of planning. We see that now but but it will increase as more Baby Boomers face retirement unprepared. That solution will of course involve more ways to take income and assets from those that planned and give them to those that did not. This is being talked about in a variety of ways, higher capital gains taxes, means testing Social Security based on your total assets, changing Roth rules etc. Really nothing to do with high earners, but rather targeting 'smart earners'.
Question is how do you think this trend will impact the FIRE concept? If one diligently saves and lives within his means with FIRE in mind, they will be targeted in the future by a Political figures in government looking to pacify panicked non-savers.
This adds much new uncertainty to the FIRE concept. Thoughts??
SM
Question is how do you think this trend will impact the FIRE concept? If one diligently saves and lives within his means with FIRE in mind, they will be targeted in the future by a Political figures in government looking to pacify panicked non-savers.
This adds much new uncertainty to the FIRE concept. Thoughts??
SM