What do more and more Americans have in common with people in Venezuela, Zimbabwe, Argentina, Russia, and other so-called “failed states”?
They’re spending for the moment and not worried about tomorrow…
When your country’s currency is volatile, prone to inflation, bouncing up and down… you want to spend it as fast as you can.
Turn it into something tangible, even if it’s a new TV or a new set of steak knives…
You don’t want to be stuck holding onto that paper money… who knows what you’ll get for it tomorrow…
Plenty of evidence now suggests that Americans—especially younger Americans—are taking a similar attitude…
We’ve all been hit with higher and higher prices… saving for retirement looks like an impossible dream…
Why not spend like there’s no tomorrow?
This “financial nihilism”… and what this societal change means for those of us planning to live to retirement age… is just one topic in your latest Monthly Wealth Advisory.
