A little over a day ago I published the first part of this series about the ad story of one Phil Horstman who retired at age 55 with a nest egg of $1,500,000 USD and, at age 62 … same age as me, by coincidence, can’t seem to make ends meet.
Because this is the year 3007 and huge numbers of Americans are caught up in the other modern fallacy of our time … If something goes wrong it has to be someone’s fault, then sue!, I have to add this disclaimer. I am not a professional retirement planner, tax advisor or lawyer. Seek the help of qualified professionals before taking any action on my advice… better yet, think of it as commentary and opinion, not advice.
I really have a problem with the way Phil and many others are managing their lives … and the way so-called financial professionals are advising them. When I gave up reading the advice Phil was getting is seemed the best any of the professionals was doing was offering him some plans that would let him draw a whopping $1,000 a month for the next 10 or 15 years when their best alternative was to have Phil sell his house “blind” on a reverse mortgage … so he could genteelly live out his life in “middle-class” poverty. Disgusting. Sounds like a stupid college textbook solution. If this is what you learn in college I’m double glad I quit when I did.
Phil, like many of us, made mistakes. Sorry about your luck, but it happens. But why on earth throw up your hands and subject yourself to insults such as telling you to live on $1,000 a month because some company’s stock went south and took your savings with it. Being retired does not mean being powerless. And telling a 62 yo man to go back to work? A sucker bet. Read what my friend Steve Pavlina has to say about having a job for some background. Phil, you do not have to be a greeter at Wal*Mart (ever notice how their signs say Wal*mart but their corporate name is Wal-Mart Stores Inc. … what’s with the “*”, hmm?) or wear the orange apron at Home Depot.
Read about what a girl your granddaughter’s age can do. Go read how Yaro makes $5,000 plus a month. (I know this guy, i even promote one of his books/courses which you’ll find interesting … the book is 100% free). Go read my friend’s Darren Rowse of John Chow … they make 10 times the “financial advisor’s solution” sitting at their desk, at home. For goodness sake you can probably make at least half the thou a month right here (also an affiliate link, no promises)
Americans need to lose the concept that retirement equals total disablement. One of the reasons I refuse to join the useless AARP is their continual whining about _us_ poor, disenfranchised senior citizens. Total spinelessness. I
When my youngest son was ‘finding his way” he often did some things with his money I felt were foolish. He had a flippant answer … “It’s only money, dad, I’ll make more'” Well, he always did … and you can to. Stop moaning about the poor performance of others and perform for yourself.
As always, feel free to leave a comment, write me an email at: davestarr (at) gmail (dot) com, or call me on 1-719-423-8872, or chat with me on Yahoo Messenger: davestarr(at)yahoo(dot)com. I’ll be happy to hear about subjects you want me to cover, places you feel I have erred, real life experiences good and bad, or just to toss out ideas you may have. There is no charge and no catch.