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View Diary: 60 Minutes Gets It (212 comments)

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  •  so you get old and sell your house: and then.... (5+ / 0-)

    .... where do you actually live?  

    Do you sell a house that's free & clear in exchange for the profit on the investment?   And how much profit is that?   And how long do you expect to be able to live on that profit?  

    Bluntly that comes down to gambling with your death date, by assuming you'll drop dead before the money runs out.  

    That's a disaster waiting to happen.

    There is no substitute for pensions or equivalent government entitlements.   And there is no substitute for progressive taxes to raise the money for the latter.   All else is gambling.  

    Engineers don't design physical infrastructure by gambling.  If they did, planes would fall out of the sky every day and bridges would collapse every week and electric & telecom grids would crash regularly.  

    I'll take engineers over gamblers any day of the week.  

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