It’s getting really close to 2008. seems like 2007 just started. But just yesterday I got an email from the office that pays out one of my annuities reminding me that I could download my IRS Form 1099R from their website. They technically have until February before they have to furnish the form but they are already done paying me in 2007 so they are getting their ducks in a row.
Made me realize how lucky I am that a., I’m and old guy (no one could duplicate my career today, Congress did away with many of the benefits I have earned) and b., how either lucky (or stupid) I was to put so many years into government jobs with mediocre pay … but what seemed like great retirement benefits (January 1st Congress takes away 10% of my benefits … and yours by the way, reducing what Medicare pays … the list goes on).
I have very few regrets in my life but one that comes to mind is, were I 20 again I would do two things:
- Get a better education (not necessarily a degree, but education that pays off)
- Go into business for myself … ideally avoid a "day job" completely
Because here is the truth for those of you still clinging desperately to a ‘day job" … defined as working for someone else. You are being misled! You know how everyone always talks this time of year about New Years resolutions? here’s the one you better make, and keep: Make a backup Plan for 2008. Not only are government benefits dwindling at an alarming rate … think for a minute about the 10% medicare cut. Medical care is a necessary expense. Once you are age 65 you’ll be using medicare … even if you have expensive private insurance, it will look to Medicare first. That’s a 10% reduction in pay you just got hit with in 2008 and it’s still 2007! Who knows what other surprises Congress has in store for the rest of 2008!
Here’s something you won’t see coming out of the White House either. Most of my readers are in the US and many don’t travel or do business internationally so this hasn’t (yet) hit you hard … but against many foreign currencies the US dollar has lost as much as 20% in the past 14 months. Since I live overseas on what was once very a comfortable government pension (so comfortable that Congress changed the plan in 1986 so that no one entering the Federal workforce for the past 21 years has been able to avail of the plan) that means I have suffered a real-world pay reduction of 20% plus the 10% I’m getting hit with in 2008. Not interested in foreign exchange you say? Well next tie you’re at Wal*Mart, find 100 items in the entire store that aren’t made in China … go ahead and when you do, send me a list … I doubt my mailbox will fill up. The US has been a debtor, importing nati9on for years now and everything that comes in must eventually be paid for in deflated US dollars.
You have no doubt noted my last couple rants on discrimination in the US. I provide some real world examples of just how far the hate groups are going to build up resentment against anyone older. there are fewer and fewer young workers and more and more of us baby Boomers … the young perceive they will have to pay the bill and they aren’t happy … and more and more the resolution to unhappiness in the US is swinging to hate groups and weapons … mall shootings, church assignations, school children at a bus stop today (they probably made noise and irritated someone) … with the hate mongering that comes from the government and the sensationalism of the news media I don’t see it getting much better.
Do, what’s the backup plan? Think for yourself and do for yourself. If you are not yet of retirement age, great, start making money for yourself … today … not next week, now, today. If you are retired and wondering how you’ll get by, stop wring your hands and empower your retirement.
It is not hard and it does not require unsecured investments, joining membership organizations, peddling soap to your relatives (sorry AmWay ;-)) or other difficult or unseemly business practices. on a regular basis I publish information here that shows you how to empower your life, retired or not yet retired. Do I show you how to get rich quick? Well some have but not following my methods and recommendations … but you can, for sure, make money … and do it honestly and reliably. There’s no time like the present … and I know there are many of you out there interested in this info because the posts on "making money online" and "quit your day job" received twice or more as many ‘reads" as anything else I have written.
Here’s your tip for today. Dig up $97 in cash. Cash, not a credit card because most of us have too much credit card debt already. Then, you could take that $97 dollars and buy this report … but wait … the report costs $97 and it is worth it, but if you click the Gold Key at the top of the message you can get the $97 report for free … nada … nothing. Sign up for the report and read it … it’s for real.
Oh, and the $97 dollars? Buy a nice gift for your spouse … roses, new golf balls, chocolates, a romantic book, something s/he wasn’t expecting … after all they have put up with you all these years … spend about half the $97 on that gift and use the rest to buy something nice for your doctor … your doctor? Yep, you’re going to need him or her even more in 2008 and it’s going to be harder and harder to find a doc that will even take Medicare patients … believe me.
The free report, the surprise for your spouse and the gift for your doctor will all pay back more dividends than any other $97 you can spend.