What Retirement?

Coronavirus Shock Is Destroying Americans’ Retirement Dreams

For older people, the coronavirus crisis has been an appalling shock. Many can’t travel or see grandchildren. Even buying groceries is a risk. Their life savings are melting as the global economy shuts down and financial markets plummet. The pain may be particularly acute in the U.S., where Americans rely on a retirement system that was broken well before a pandemic dashed it to pieces.

Your WTF moment for the day.  You have to read the whole post.  Priceless.

the thirties grind

I often wonder why, when so many TV shows and movies are made here in Hollywood North, more celebrities don’t just buy houses and live here?  Say you were a fairly affluent star and had around $3-3.5 million to spend on a place to crash…

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Why So Many Ph.D.s Are On Food Stamps : NPR

Tony Yang received his Ph.D. in history from the University of California, Riverside in 2009. Since then, he’s worked on and off as a history lecturer, but has had to depend on unemployment and food stamps to get by.

In his best year since getting his Ph.D., Yang says he made about $32,000; in his worst, about $10,000. He says there’s a perception that if you have a doctorate, you automatically walk into a high-paying job.

“I have the prestige of holding a Ph.D., but that [isn’t] paying the bills,” he says.

via Why So Many Ph.D.s Are On Food Stamps : NPR.

Scary Charts of the Day – 2/2/10

The Next Leg Of The Housing Crisis In Five Simple Charts | zero hedge

You may wonder why I continue to post charts on the economy in a life underwriting blog and website.  Here’s why.

People under financial strain will sometimes resort to extraordinary measures.  In this economy, pay extra attention to your financial underwriting.

Financial underwriting matters more now than it ever has in a very long time.