People killing themselves after losing their life savings? Here’s a story that sorta fits with this.
According to our former financial adviser, baby boomers blow through their IRA’s in just a few years and are back to work again at 70 or so because social security is not enough.
I’ve only personally witnessed this with one person. He went through his IRA because he deserved the things he bought. Then put his home into full mortgage so he could continue the happy lifestyle he deserved. Now he’s selling off toys, like his boat he loved so much to take out fishing.
Now he’s depressed, taking pills and seeing a therapist. I do not want to see this happen, but he might off himself.
Our retirement income is much less than his, but we do not outspend our income and are quite happy.
My point is, many people create their own problems. There’s always a life saving solution out there too.
I am happy that I’ve reached the point in my life where I’m no longer a slave to “stuff”.
As long as I have a roof over my head and the ability to travel, it’s really all I need.
It’s a one way ticket, either way.