A word about outsourcing… while nobody likes to get their job cut and outsourced, it’s important to remember that this is reality in a global economy. When your company outsources a part of their operation, it allows them to lower costs which allows them to be more competitive which maybe lets them keep YOUR job. It’s a shame that most people just view outsourcing as a way to put another million in the CEO’s pocket. The job of the CEO and management is to keep the company competitive and profitable. Sometimes, this requires outsourcing. What does a company look like when they lose their competitiveness and thus, profitability? Look no further than GM or Chrysler. Would you rather work for one of them?

Of course there are exceptions. But more and more they are the exceptions… So when will society ( that means us too) wake up and realize what damage we are doing to ourselves by treating this age group as have-beens. Society is creating enormous problems by not recognizing the self-destructive nature of ageism.

Outsourcing is also contributing to the problem. Put bluntly, how can people save in the first place if they do not earn.

Because of my extensive travels abroad I have a lot of friends and family in Asia.

If I can save enough money to live without working I will buy a condo in Makati City in the Philippines. It’s a very nice area and the real estate and cost of living is surprisingly cheap compared to the US. It would be much easier to retire there than here.

If I still need to work I will probably go to Hong Kong. Amazingly, the country is run by Communists and the tax burden is far lower than the US. More and more companies will relocate there as the US ratchets down on Corporations due to misguided populism and a government that is burying itself in debt.

It hurts me to say this. The Founding Documents of the United States describe the greatest government ever created and the last few generations have killed it. I hope someone starts a new country using the Constitution as it’s model. If so, I’ll move there.

TIPS are ok. They do the job to an extent, yet remember they are based on the government’s own inflation numbers, mainly the CPI, which I find to be very flawed. Plus, I don’t trust the government on inflation anyways. But, this is a very long discussion.

If you really want inflation protection, you’re better off with gold. Gold is independent of any one government. If you’re weird about putting all your money in gold, consider buying some TIPS and some gold.

Check out GLD and the gold mining stocks (GDX, AUY, etc.) which will benefit from higher gold prices.

Good luck!

Also, my husband and I have been looking into opening a bank account overseas so some of our money is kept in another type of currency altogether. I see it as just another way to diversify.

that’s amazing/remarkable/embarassing

I don’t understand how anybody anywhere could ever want to rely 100% on someone else to provide their basic essentials needed to survive.

Canada probably isn’t much better off.

by systematic degradation of our unions, do you refer to the demise of GM/Chrysler? In those cases, you can have a strong union, but there will only be a handful of members since the business model is so terrible. I don’t blame the unions for fighting for their own interests, but don’t complain if those interests impact profitability which impacts the number of employed workers there.

what do you propose is done about college education costs? I got it… let’s make college free! Then, we can all be smart and rich!