[Ed. Note: Sadly, HALF of Americans have LESS THAN $2,000 banked for their retirement. When we say tough times are ahead for most people, we’re not kidding.]
by Jeff Berwick, Dollar Vigilante:
A million dollars…
Wow, seems like a lot of money doesn’t it?
Everybody would love to become a millionaire, retire without a worry and spend the rest of your days on earth having fun….
There’s just one major problem: $1 million dollars is the new middle-class. Do you have it in an IRA? Well, the government might be interested in confiscated it. In a domestic bank account? Well, legislation has been written legalizing a possible future bail-in. Some of the retirement money sitting in your account could be shaven drastically. That’s what has happened in Cyprus. How about a devaluation? That’s what the people of Ukraine are suffering through as I write.
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