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!
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Do people believe they're going to receive these benefits?
They will receive it, it's just not gonna be worth what they're expecting.
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.
In the EU they'll receive endless bailouts
Everyone thinks they;ll get endless bailouts, until they don't. By definition, unsustainable things come to an end.
Yeah, but let us try it again. This time it's different
100%
That's not going to end well.
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.
Where's Greece? =)
Didn't fit on the sheet
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....
Good advice! State systems are fraudulent and only help growing bureaucracy
Why is Denmark so much lower
Maybe they have better demografics and a (partially) equity based system
Why do you think inflation is happening?
They are doing it to protect themselves.
How shameful would it be to claim bankruptcy?
source: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Pensions_in_national_accounts_-_statistics&oldid=514007
To much in pensions! Can they survive with it? If they fall the pension system falls too!
I had to do a double check trying to interpret the chart... I was like these numbers can't be real... crazy