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To: Don Lloyd who wrote (21649)	7/25/2002 10:44:13 AM
From: smolejv@gmx.net	Respond to of 74559

Hi Don: on >>Competitively bid private annuities individually owned << the money saved is money not spent, and the world being how it is, I very much doubt this could !always! work. Because I see people in power thinking of ways to have this cake and eat it too (which you possibly indicated already in other ways) -. There's serious political work being done in this respect right now in Germany. The result is, that probably I won't have any cake and won't eat any either: within ~25 years the employed should accumulate a significant part of their retirement money by themselves. So the state part of my retirement income will already feel the bite by the time I get there. Of course I still count on 16% ROI next 15 years; dj