INFLATION'S DIRTY WORK
By Daniel R. Amerman
There is very good reason to believe that the largest redistribution of wealth that has been seen in modern times is likely to occur over the coming years.
The older that you are – the more likely it is that wealth will be redistributed away from you instead of towards you. If you have been following the conventional wisdom for retirement investing – the value of savings and investments will likely evaporate. And if you're nearing retirement, you may not have that many working years left to recover from the damage, with jobs being difficult to come by even if you want to work.
So the older compete against the younger - not just for jobs, but for goods and services, where the younger workers have the current income in inflation-adjusted terms to buy these desirable goods – and the older don't. Thus, the older citizens become impoverished relative to the younger citizens. This is a history that has been repeated time and again across nations and across the centuries – it is the pensioners that get nailed.