Wednesday, December 8, 2010

Retirees: Get ready to live on One Ounce of Gold Per Year

Retirees: Get ready to live on $190 a month

NEW YORK (CNNMoney.com) -- Are you prepared to live on $190 a month when you retire?

Three Assumptions

1. Gold is money.
2. Gold peaks at $2,280 per ounce in today's dollars.
3. Gold then becomes the ultimate wealth-preservation tool.

One Discclaimer

Urban Dictionary: Assumption
at

8 comments:

  1. Stagflationary MarkDecember 8, 2010 at 5:11 PM

    As a side note, $190 per month is also what one could make in a Chinese factory working 40 hours per week at $1 per hour. Coincidence?

    Hurray! We've solved the global imbalances problem. Sigh.

    ReplyDelete
  2. Stagflationary MarkDecember 8, 2010 at 5:18 PM

    I should qualify that by saying that you could almost make $190. In order to get the full amount you'd need to put in some overtime.

    ReplyDelete
  3. mabDecember 9, 2010 at 3:40 AM

    As a side note, $190 per month is also what one could make in a Chinese factory working 40 hours per week at $1 per hour.

    The commute to and from the Chinese factory is going to be a bear for the boomers. I expect a lot of car pooling. You know, they can live in the same car in the factory parking lot and commute home on leap years (Feb 29th).

    ReplyDelete
  4. Stagflationary MarkDecember 9, 2010 at 4:49 AM

    mab,

    Perhaps the government could install anti-toll booths to help subsidize the commutes?

    I'm picturing that you roll down your window as you drive past and an automated machine with facial recognition software shoots a quarter at your head.

    It would also help track the terrorists. Win win. The quarter's speed would be much higher if you don't turn to face the camera.

    Ultimately, we could merge two of our government departments under one roof.

    Homeland Social Security

    ReplyDelete
  5. deariemeDecember 9, 2010 at 6:52 AM

    190 bucks? How many goats is that?

    ReplyDelete
  6. Stagflationary MarkDecember 9, 2010 at 7:23 AM

    dearieme,

    One?

    Cost of raising a goat

    Expect to pay between $100 and $300...

    Attention Retirees: The cost of raising a goat is not included. It's probably best not to buy one a month.

    ReplyDelete
  7. Charles KitingDecember 9, 2010 at 9:03 AM

    When I retire, $190 will be 12 hours of property taxes.

    ReplyDelete
  8. Stagflationary MarkDecember 9, 2010 at 9:28 AM

    Charles Kiting,

    I just did the math on my property taxes.

    We're paying 75 cents per hour, 24 hours per day, 365 days per year.

    That's just depressing. The "paid off" house eats better than we do, and that's not even counting maintenance or insurance.

    ReplyDelete