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Wake up and smell the laundry! Yes, I am talking to you, the one reading this blog. You might have already or will soon realize you will have to work longer than you were told. Your pension will not be a percentage of your last earned wages to be paid until you kick the bucket and your pension will not be indexed against inflation. Oh and did I mention you are likely to live much longer than you currently expect to and the current interest rate on your savings is close to zero? So after you factor in inflation you are in for a sure loss.
Yikes! You are long on life and short on purchasing power.
What happened while we were busy growing older, consuming cars, nice dinners, iPads, iPhones, kitchen appliances, apartments, houses, special schools, short trips to snowy places and long trips to sunny places? Things changed. We collectively spent too much and invested too little. That’s what happened and it is high time you spend five minutes to collect yourself and think about how we can replace the things we lost in this very slow motion burglary that is currently taking place.
Don’t worry. I have a solution for you and believe me, not everybody will read this blog and out of those who do, less than 1% will actually follow this idea. So there is a good chance for you to come out winning by continuing reading. The solution is to find a place for your savings where they can work for you every day for the rest of your life. Yes, I know you want to invest in the next high-flying tech idea, but believe me: think laundry and you will sleep much sounder.
You see, everybody in this world has dirty laundry, everybody! You wash your laundry and guess what, it has to be washed again, again and again. You might be so lucky to have a washing machine and dryer at home but most of us living on this earth do not. Most people in urbanized places go to Laundromats to do their laundry. The business principle is lovely in its simplicity: find a place where a lot of people with busy lives live; buy or lease a number of commercial washers and dryers, price a washing cycle so you make a small profit and increase your price with inflation every year. Ahaaa!
Yes, Yes, I understand you have a lot of dirty laundry but no time to run a Laundromat. Well, this is where the stock market comes into play where pieces of businesses are being bought and sold so you can become an owner without doing the work yourself. It so happens the third largest Pension Fund in Canada is selling Alliance Laundry, the world’s largest manufacturer of commercial laundry equipment, valued at $2 billion. Alliance Laundry is a U.S. company with large operations in Europe, the Middle East and Asia and could be the next best thing to actually buying and running your own Laundromat. You cannot blame this Pension Fund for selling… my blog was not published yet.
Ssst, so don’t tell anybody else, this is between us OK? Do your homework: don’t rely on your savings account or your pension to take care of your dirty laundry.