Retire?
Don’t we need jobs before we can retire?
Doesn’t retiring require a pension plan that has not gone belly up?
Doesn’t it require a social security system that is not bankrupt?
“Don’t we need jobs before we can retire?
Doesn’t retiring require a pension plan that has not gone belly up?
Doesn’t it require a social security system that is not bankrupt?”
You don’t need any of those to retire, IF you made the proper financial decisions early on in your career.
1. Don’t ever assume that a pension plan is going to be there for your retirement. Make your plans accordingly. I know a bunch of arrogant fools that fly for United that learned this the hard way.
2. As to SS, ditto.
How to accomplish this long term financial task?
#1 Have one wife, and don’t ever play with the girls.
#2 Always live below your means. Learning and living this “art” will stand you in good stead WTSHTF. Tough economic times? Ain’t no big thing. You already know how to handle it since you’ve been doing it all your life.
#3 Learn to love conservative investments. You may not retire rich, but you WILL retire comfortable.
#4 Read, read, read. Be as smart as you can about EVERYTHING.
#5 Never trust someone else to do your investing, and never invest based on which way the herd is heading. Herd animals tend to go off cliffs.
#6 Diversify out the wazoo. You’ll never get hurt by diversification.
#7 Defer gratification. A cheap Ford or Toyota will get you down the road just as fast as a Caddie.
#8 Eat at home. Restaurant food will kill both your wallet and your arteries. Save both for your retirement. Besides, if you’re any good at all in the kitchen, you can do better food on your own.
Lotsa’ discipline in all that, but it’s not supposed to be easy. Just lots safer.