[ExI] The ultimate test of your transhumanist convictions...

Olga Bourlin olga.bourlin at gmail.com
Thu Jun 24 22:14:35 UTC 2010

2010/6/24 Ross Evans <ross.evans11 at gmail.com>:
> On Thu, Jun 24, 2010 at 10:18 PM, BillK <pharos at gmail.com> wrote:
>> On 6/24/10, Ross Evans wrote:
>> > I'm 30, have no pension plan, nor any
>> > intention to burden myself with one. Indeed, for those
>> > transhumanist/singularitarians in this age group, the ideology confers a
>> > distinct economic advantage; the ability to turn their backs on a
>> > fiscally
>> > unsustainable ponzi scheme, the need for which technological progress
>> > will
>> > obviate. Capital that would otherwise be deployed into such schemes
>> > could be
>> > more usefully employed in gaining new skills, travelling, and investing
>> > inthe very companies that will build the future they want.
>> >
>> >
>> You should always have a Plan B.
>> In the present economic crisis there are many problems attached to
>> pension schemes and investments of any kind really. Especially as
>> broke governments are looking to take over pension schemes (i.e. steal
>> them).
>> But basically a pension scheme is just a wealth accumulation plan,
>> deferring present spending and accumulating the deferred money to
>> spend when you are no longer able to generate much income yourself.
>> Anything could be called a pension scheme if it ends up providing
>> capital to use when you are too old to work.
>> Even if Kurzweil's accelerating change takes off, it is always handy
>> to have some capital accumulated. If it turns out that you don't need
>> a pension, the capital could still be handy to buy rejuvenation drugs
>> or treatments, etc.
>> (And accumulated capital tends to attract females).  ;)
>> BillK
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> Productive deployment of capital now will always beat passive investment for
> the future. Pensions plans are the only way a person on average income can
> ever hope to accumulate a fund big enough to provide a meaningful retirement
> income. These plans basically involve playing the stock market, and as such
> their performance cannot be guaranteed. The reality is that people on
> average incomes cannot afford to set aside a sufficient amount of capital
> for a retirement plan that does not resort to casino capitalism to make
> returns. The whole pension system is predicated upon actuarial assumptions
> that no longer hold true; it was never envisaged that people would live 20+
> years beyond their retirement age, and this flaw now represents a risk of
> systemic failure in the pension system, especially in Europe. I'd say if
> you're 30 years or more from pension age, putting capital into a pension is
> likely to be a bad financial decision.
> Ross
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