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Reply to "Why are people obsessed with putting $$ in retirement?"
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[quote=Anonymous][quote=Anonymous]OP is at least partly right. The Economist recently ran a cover story about a worldwide savings glut - never in the history of the world have people saved as much as now. And all these savings create a hunt for yield, which is part of what has bid up housing markets in the rich world - think Sydney, London, SFO, Toronto, etc. This is sort of why interest rates are so low. Too much supply of capital has bottomed out the demand (interest). This is the systemic side of things. At a personal level you also require far less money than you think. And if you are willing to work until 70 you are golden. [/quote] If I'm recalling the correct article, it didn't say definitively whether the savings glut was well-distributed among working people. I think that the savings is heavily weighed to the top earners, many of whom are not salary-dependent.[/quote]
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