Unfunded pension liabilities in major European nations are soaring, reaching between 300% and 500% of GDP. Coupled with shrinking demographics, this spells a debt disaster in the making. To meet their obligations, welfare states might resort to currency debasement, burdening a shrinking workforce to support an ever-growing retired population. Protect your wealth from the impending devaluation!
63 sats \ 1 reply \ @jp305 6 Jul
Where's Greece? =)
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18 sats \ 0 replies \ @TomK OP 6 Jul
Didn't fit on the sheet
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62 sats \ 1 reply \ @JesseJames 6 Jul
The best thing one can do is to skip BS 401k's and "retirement" accounts, take that money you think you are saving and put in your own self custody BTC wallet, straight DCA (the worst case scenario). Establish the system, either monthly or quarterly or whatever fits your life/budget and forget about. Once a year take a look and see how is going. You will sleep better.
P.S
Not a financial advice....
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0 sats \ 0 replies \ @TomK OP 6 Jul
Good advice! State systems are fraudulent and only help growing bureaucracy
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62 sats \ 8 replies \ @Undisciplined 6 Jul
Do people believe they're going to receive these benefits?
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59 sats \ 1 reply \ @TomK OP 6 Jul
100%
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62 sats \ 0 replies \ @Undisciplined 6 Jul
That's not going to end well.
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117 sats \ 4 replies \ @jp305 6 Jul
They will receive it, it's just not gonna be worth what they're expecting.
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95 sats \ 3 replies \ @Undisciplined 6 Jul
It'll be interesting to see. States and cities in the US have defaulted on unfunded pensions in the past. It's one of the reasons we have defined contribution plans now.
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92 sats \ 2 replies \ @TomK OP 6 Jul
In the EU they'll receive endless bailouts
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95 sats \ 1 reply \ @Undisciplined 6 Jul
Everyone thinks they;ll get endless bailouts, until they don't. By definition, unsustainable things come to an end.
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59 sats \ 0 replies \ @TomK OP 6 Jul
Yeah, but let us try it again. This time it's different
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38 sats \ 0 replies \ @duvel 6 Jul
Great question. I always say to people that when you retire, don't expect to receive it. A lot of the times people are actually shocked when they imagine it's true.
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45 sats \ 1 reply \ @Bell_curve 6 Jul
Why is Denmark so much lower
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17 sats \ 0 replies \ @TomK OP 6 Jul
Maybe they have better demografics and a (partially) equity based system
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45 sats \ 0 replies \ @Satosora 6 Jul
Why do you think inflation is happening?
They are doing it to protect themselves.
How shameful would it be to claim bankruptcy?
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45 sats \ 0 replies \ @q 6 Jul
source: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Pensions_in_national_accounts_-_statistics&oldid=514007
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33 sats \ 0 replies \ @BitcoinAbhi 6 Jul
To much in pensions! Can they survive with it? If they fall the pension system falls too!
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17 sats \ 0 replies \ @gmd 6 Jul
I had to do a double check trying to interpret the chart... I was like these numbers can't be real... crazy
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