Posts filed under ‘WALT’S OPINIONS’
YOU KNOW YOU’RE CREATING MEMORIES WHEN . . .
You find this Christmas as being a special Christmas.
THOUGHTS ON RETIREMENT
THOUGHTS ON RETIREMENT
I’m going to step away from the subjects usually contained in my posts and focus on the subject of retirement.
It has recently been reported that many folks are not saving enough for their retirement. The fact that 47% of working people cannot put aside $1000 for an unexpected bill. How can people save for retirement when they have so little cash available?
There are numerous ads for various schemes guaranteeing you a percentage of profit from your investments no matter what happens to the stock market. They guarantee you a safe and secure retirement.
I’ve been retired for fifteen years, and, in my opinion, all these guarantees are BS. The only individuals who are assured of having a safe and secure retirement are those who have enough money so that no matter what happens to the economy and the stock market their future is safe.
In my mind there is one important question, the most important question, which must be answered before you discuss the quality of your retirement. How long are you going to live after you retire? For the longer you live, the less the money you have saved is worth.
I look at the cost of living now and compare it to fifteen years ago. I look at current salaries and compare them to my salary fifteen years ago. Fifteen years ago, my family’s income provided a comfortable life. That same salary today might pose a struggle.
Some of the retirement plans offered guarantee that you can maintain your lifestyle you had before retirement into your retirement. That guarantee, I feel, depends upon two factors. What is the lifestyle you plan to maintain and how long you live once retire?
In reality, as all things in life, there are no guarantees.
