Schiff: Your Money Will Retire Before You Do

Newsflash: the Fed isn't only negatively impacting your investment portfolio and inducing out-of-control inflation spikes, but it's also delaying your retirement.

One of Fox's Money Power Panel speakers, Spencer Patton – CEO of Steel Vine Investments – says the Fed has done “a tremendous disservice in robbing savers, people that are planning on retiring; the people that are not trading in the stock market, but most people that are setting aside money.”

Not only have these people not made any money for retirement in the past five years, they've actually lost money due to inflation. 

As the Fed whimsically fires up its faithful printing presses, the dollar continues to decline and retirement-aged Americans are finding that they are unable to retire as early as planned – or ever in some cases.

Are you going to die at your desk?

Peter Schiff doesn't explicitly say this, but it is certainly implied. Schiff says retirement is about to become a rare luxury in this nation. He said:

“One day soon, retirement will be as rare as a single income household. At one time it was the norm in America, only one paycheck. It was very rare for a married woman to work outside the home. Now it is very common. Well one day, it's going to be just as uncommon for somebody to retire. And I agree – it's because of the Fed, it's because we're destroying the value of our money.”

People are feeling more insecure than ever with the markets, inflation, and their 401Ks. People in their 40s and younger fear that Social Security and Medicare will no longer exist when they turn 65, so they assume they'll have to stay in the work force longer, maybe forever in some case.  

It's a quickly growing trend and, frankly, it sounds like the majority of Americans truly will be working until they drop.

Meanwhile, people in their 60s have been gravely disappointed with their financial situations as they enter retirement. Several report that they have lost their homes and are forced to put final retirement plans on hold due to their inability to survive only on Social Security and the little savings they accumulated over the years.

For more on how the economy and Fed policies will affect you and your retirement, watch the video below: