Is Your Retirement in Danger? (Part Two)

If you’ve been reading Quantum Wealth Report for any length of time, then you already know my family’s story.

It starts in pre-revolutionary China.

Back in the late 1800s, this was a fractured and turbulent nation:

• China was being fought over by different groups. Warlords. Communists. Nationalists.

• This meant that starvation, disease, and murder was the rule of the day.

Among the many who suffered during this awful time were my great-grandparents. They were of Fuzhou descent and lived in Fujian, a coastal province on China’s south-east:

• The violence was rising. The economy was nosediving. My great-grandparents had much to worry about.

• Fortunately, there was a glimmer of hope here. You see, Western traders had long used Fujian as a base to spread Christianity and secure business opportunities.

• The British, in particular, were ardent recruiters. They encouraged the local Chinese to emigrate to Southeast Asia to work in rubber plantations and tin mines.

• ‘A better life for you. A better life for your children.’

Source: Image generated by OpenAI’s DALL-E

This message of salvation was impossible to ignore. So my great-grandparents made the fateful decision:

• They took a chance and boarded one of the rickety boats that were packed with a heaving mass of humanity. Nervous but hopeful, they departed their homeland forever.

• The journey on the South China Sea was treacherous. Some boats capsized along the way. Other boats were intercepted by pirates. Stories of pillage and murder and rape were common.

• Thankfully, my great-grandparents were the lucky ones. They made it safely through. Eventually, they arrived on the rugged shores on what was then British Malaya.

My great-grandparents disembarked, staggering down the pier, the crushing flotsam of migrants streaming around them:

• There was no red-carpet welcome waiting. Just the harsh reality of being dirt-poor and trying to start a new life amidst the humid climate and tropical terrain.

• Still, my great-grandparents counted their blessings. The food in Malaya was reasonably abundant, and the British colonials were nowhere near as cruel as the Chinese warlords back in the old country.

• All things considered, Malaya felt like a land that was good enough for them to set down roots in. To catch their breath. To work towards a better future. Maybe.

But one thing was for sure. Even after moving countries, my great-grandparents never enjoyed an easy life. What they did, they did for survival:

• Here’s a sobering statistic: the global life expectancy in the year 1900 was 32. In itself, this is a shocking number. But get this: in Asia, the life expectancy at that time was lower still. It was only 28.

• This meant that anyone who lived to the age of 40 was considered a superman. You got to live a bit longer so you could work a bit longer. Indeed, in those days, you didn’t retire. You couldn’t afford to. You simply worked until you were broken or you died. Whichever came first.

• Yes, this was a raw deal. But it was the only deal available. So, my great-grandparents made the sacrifice so that their future descendants — maybe — could have a better life.

Now, as I look back at my family’s history, I feel a great sense of wonder and gratitude. My great-grandparents took a courageous step into the unknown. And I don’t think they could have dreamed of what happened next:

• You could call it a miracle. My family went from peasants to refugees; working class to middle class; all in the space of just four generations. Indeed, we progressed more in four generations than we did in the previous 10.

• Is this unique? Why, no. My family’s story is the story of how the 19^th century transitioned into the 20^th. This was a time of profound social change and economic transformation.

• It used to be that only royals and aristocrats could enjoy a relaxed life in old age. But in the post-World War II era, that was transformed as we entered a golden age of wealth and prosperity.

• The common people could now enjoy the fruits of retirement as well. Social-security programmes were rolled out on a grand scale. The availability of pensions became universally accepted. And best of all, the elderly were able to live longer and healthier lives.

Does this sound like a utopia? Yes, it’s as close as we’ve ever been to one. But watch out. We shouldn’t take retirement for granted. In the 21^st century, the landscape are changing yet again. Here’s why the stakes have never been higher:

• Last week, in Part One of my investigative series into the reality of retirement, I talked about the rise and fall of our social-security system. It was good while it lasted, but we’re now facing the most dramatic demographic shift in decades. This means that our pensions are looking increasingly stretched. Increasingly exhausted.

• It’s clear to me that government-led programmes are no longer as effective as they used to be. This is putting the baby boomers in a tough position. Indeed, they will have no choice but to start futureproofing themselves financially.

• So now, in Part Two, I want to cover the urgent steps that savvy investors are already taking to remedy this. They are preparing for the next quantum wave. Their goal? To secure a happy and fulfilling retirement, as well as protect generational wealth. And they want to do it on their own terms…