>>Tom Palome, 77, was once a top marketing executive earning six figures and traveling first class He worked hard to pay off his mortgage and put his kids through college, but like most Americans didn’t save enough<<
Stupid smart guy.
He never heard of a reverse mortgage? if was making 6 figures he should have 7 figures in savings (401ks have been around a long time).
He had his fun and blew his wad. Now he gets to retroactively pay for the cars, exotic vacations and fancy homes.
Sounds OK to me. If he keels over on the job, he wins.
The rest of us will just be our stupid ant-selves and do without (or be judicious in our fun now) to save for later.
Note: Anyone under 55 who has not put ZERO in their Social Security bucket assumption for retirement is a fool. If I get it, great, I will use it for hats or a leisure suit collection. If not, my plans don’t change.
Maybe he had took extravagant vacations, had a boat, wife and mistress. All are expensive.
What is the point? He is healthy and working. Some people who are retired and not working are miserable.