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The future outlined by these new and exciting investment vehicles is horrifying.

• nemo44x 6y ago
  It is but you wonder if the instability of a career is even more horrifying? It is essentially like a farmer selling futures contracts on their crop. The yield of the crop and market conditions at harvest time are so uncertain that trading upside for stability becomes a smart bet. So one might think to themselves that they don’t feel certain about their ability to generate income for the next 20 years and sell a claim to their existing and future incomes for a payment today which they can diversify into other investments and tap in the future if things unravel for a period. Of course the old fashioned way of doing this is putting part of your income into savings. But front loading savings has benefits like having a larger nut to start with and more time to compound.
  • airza 6y ago
    The entire line of thinking just seems to me like it is bending over backwards to avoid just... having income taxes and a social safety net.
    • nemo44x 6y ago
      I think it’s more like insurance than a social safety net. It’s also private instead of public and therefore by necessity, political, which is undesirable for many people. And I don’t think it’s in lieu of a social safety net. This would exist to stabilize a lifestyle. A social safety net would still exist for adults that can’t take care of themselves through government funded shelter and food and other things. I would expect a professional couple with plans of a family wouldn’t be able to (or want to) rely on the whims of government assistance. You’d maybe want to plan a lifestyle and getting up front money could have benefits. Similar to purchasing additional life insurance if you have kids.