Sorry to hear about the break-in of your vehicle a couple of weeks ago. I hope you are feeling better….if not I offer this story:
I was playing with my dog a couple of weeks ago and accidentally got bit. I ended up going to the emergency ward and after waiting 6 hours saw a doctor who took about 15 minutes max to fix me up. The bill: $1500 for the room and on a separate bill $800 for the doctor. I do have insurance (but I pay premiums for it) but my portion of the bill will still be several hundred dollars. This could lead to discussions and/or programs on high cost of health care, high cost of insurance. Do doctor bills start out high knowing that insurance companies will negotiate a lower bill? Do people without insurance pay the high bills or once the hospitals find out that a patient has no insurance they then issue the lower bill to begin with? Or do those with insurance cover those costs?
However, this is not exactly what I wanted to write you about today. I believe the same day that your car was broken into, your show was on GDP. Of particular interest to me was the formula that spending and investment were equal parts of the same equation. You also asked what worries people and I am going to tell you what worries me. I am in my late 50’s and approaching retirement. I am a top wage earner and have a seven figure retirement account…which I consider an investment. Lately I have been re-considering this investment. I do not count on social security in my planning. I consider going out to a movie a luxury. I don’t know how people can buy jewelry (I wear nothing attached to my neck, wrist or fingers) or expensive clothes. I do not know how people can go to live sporting or musical events given the cost of tickets for a family of four….not to mention the cost of food or drinks at such events. Luxury cars? Expensive Homes? The Sunday paper is filled with Million dollar homes…..who buys these things? We must be a nation of billionaires. Or are these people spending their retirement (investment) now? Am I going to suffer increased taxation in my retirement to take care the consumers...those that did not deny themselves and invest in their own retirement? If yes then I am subsidizing their “fun” with the result being a lower rate of return for me in my own investment. If someone invested nothing in their retirement but gets something then their rate of return is astronomical!
Ah...I guess it is my curse in life that if I retire early to enjoy my savings I will live to be 90 and end up destitute. If I work to 65 I know I will have a heart attack and die at 69. I must admit though...sometimes I think that the better path would be to quit working and saving now and blow everything (like everyone else) while I can enjoy still enjoy it and then if I live past 69 what the heck...let the government take care of me.