With significant inflation, most calculations of what is needed for constant purchasing power in the future become about as stable as the nuclear reactor in the #4 unit at Chernobyl, Ukraine. Yesterday, I saw an episode of Perry Mason (1959) where a management executive at an exclusive clothing designer company was asked what he salary was, she replied: "$150 per week, i.e., $7,800 per year. I wonder what such a person would have had for a pension from that income to last 15-20 years of retirement? What happens when the tax base shrinks?
With significant inflation, most calculations of what is needed for constant purchasing power in the future become about as stable as the nuclear reactor in the #4 unit at Chernobyl, Ukraine. Yesterday, I saw an episode of Perry Mason (1959) where a management executive at an exclusive clothing designer company was asked what he salary was, she replied: "$150 per week, i.e., $7,800 per year. I wonder what such a person would have had for a pension from that income to last 15-20 years of retirement? What happens when the tax base shrinks?