Reddit reviews Naked Money: A Revealing Look at Our Financial System
We found 2 Reddit comments about Naked Money: A Revealing Look at Our Financial System. Here are the top ones, ranked by their Reddit score.
You are right about asset allocation being a good idea supported by historical data. That's also why index ETFs are such a good idea and why we even have a 4% rule.
"precious metals" are only worth something if everyone agrees that they are. Not hard to imagine a world where drinking water is worth more than gold. Bitcoins are arguably a better standard of controlled rarity than gold. I suggest you read Naked money; very good read.
https://www.amazon.ca/dp/B011SG58WY/ref=dp-kindle-redirect?_encoding=UTF8&btkr=1
Chances are the future will be much like the past and anyone with 4% will be fine. Then again decade long deflation happened in Japan and it could happen somewhere else. I'm not sure how having 20% bonds and starting out retirement would work in that case. Nobody saw the Japan thing coming and some different financial system troubles could happen.
I think the main thing to look out for are job automation and globalization. The average worker will have to face those challenges and surely this will have a major impact on the global financial system. I'm just not sure what exactly. Are we headed for not only older demographics without enough retirement savings but also working age workers unemployment due to automation? In this case the money would be even more concentrated to the 1% and would that lead to more socialism, revolutions, war?
Are we headed for a star trek world where people do what they are good at and nobody cares about money because all our basic needs are met? Or are we headed for future where the have and have not are in conflict?
Naked Money by Charles Whealan is a great introductory resource