June 20, 2005

The Scandinavian model

I was talking with a guy I know a couple of weeks ago, and asked him about pensions. This guy is in his late 50s. I have some questions about my strategy and so on. Can I trust the government and private systems I pay into every month? The models I have seen say that pension funds are really bad investments for people my age-- depending on the model the rate of return is zero, at best. Maybe I'd be better off buying gold ingots and burying them under the floorboards. This guy said that in the Scandinavian system, everyone sinks or swims together, so if the system does go bankrupt at least I will not be hungry and homeless alone.


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