Yesterday I happened upon Economist Bob Wiedemer’s prediction of three consecutive years of unheralded inflation, unemployment and catastrophes on the rise.  I watched his on-line video and, although skeptical, he made sense to me… scary sense. 

If you are one of the unfortunates to be upside down in your mortgage, unemployed, or unable to pay your bills, I highly recommend you watch his video.  He is saying the Real Estate market will be worse than we’ve ever seen and is recommending people rent, not buy, in the next three to five years.  Interest rates will sky-rocket leaving most home values plummeting to record lows.  I’ve actually reached out to two Real Estate professional’s to see what they think about this.  He warns of stocks and bonds, credit card debt and even goes so far as to say life insurance will not be able to withstand the economic fall and if you have it, it will likely diminish under government law.  What happens to all the money you’ve paid into it?  It’ll all go away.  What the heck?  Retirement plans, bank accounts, everything, and everyone, will be hit. 

What scares me the most is, I know people who are terrible with money.  I know people who have no idea how to save for the future, or even think anything less than “living in the moment” is an option.  They have already conceded to never being able to retire and one believes working forever will keep him alive.  Wow.  I can’t even relate to that.  As for me, I look forward to a comfortable retirement someday.  Being able to enjoy each day without the pressures of being in an office five days a week and the freedom to do whatever I want, whenever I want, really appeals to me.  My retirement plan includes working for myself, at my own pace, at things I love to do.  I don’t want to have to work until I die.  I’ve been setting up for retirement for many years now.  It saddens me that my friend doesn’t care enough to take it seriously.  To each their own I guess.

Our country is in peril, and no matter who takes office next, I think people should hold themselves accountable for their future, and not just rely on social security, or winning the lottery.  It’s important to remember if you die in debt, your debt doesn’t go away.  It carries on to your spouse and/or children.

Knowledge is power, get some before it’s too late.