#RealEstateNovelist #”PianoMan”, #BillyJoel #loneliness #relationships
“Paul is a real estate novelist.”
That lyric from Billy Joel’s song, “Piano Man,” begs the question: “What does is a real estate novelist do? Incidentally, CBS cut off its televised Billy Joel concert at Madison Square Garden on the evening of April 14, 2024, in the middle of his performance of “Piano Man.” Joel’s fans who watched were not happy with CBS, and said so on social media. As a result, it was rebroadcast in full on April 19, 2024.
So, is Paul, who is one of the regulars in the bar at which the “Piano Man” plays, a novelist who dabbles in real estate? Does he write novels about real estate? Or, does he sell “novel” real properties?
The song does not explain. The point of the song is that Paul is among the lonely people, mostly men, who hang out regularly at the bar just to drink and listen to the piano man.
Though the song doesn’t explain Paul’s gig, Paul can teach us a few things.
First, loneliness is common – some might say an epidemic — today among children and adults. The explosion of social media, the isolation of the pandemic a few years ago and a general malaise among many people over their lives have contributed to the increase in loneliness.
If you are feeling lonely, hanging out at a bar – even if everybody knows your name, as in the TV show, “Cheers” – may not be the best solution. Certainly, no one would criticize the occasional trip to the bar to hang out with friends. But, making it a habit can be expensive and harmful over time.
Also, even though Paul in the song is lonely, we can suspect that he may write novels, and, perhaps, dabbles in real estate.
Novelists, unless they have a big seller, generally don’t make a lot of money. Having multiple streams of income can help a person pursue his or her passion, and still make a living.
If Paul sells “novel” real properties, that could be very lucrative. “Novel” properties tend to be expensive. Commissions for selling them tend to be high. If that’s the case, even money can’t cure loneliness.
Let’s presume here that writing novels about real estate would not be a lucrative pastime.
The song says Paul never had time for a wife. Either he is busy pursuing his passion and side hustle, or he’s busy selling expensive properties.
If you are unsure what to do with your life, think of people like Paul. Perhaps you have a passion that may or may not pay your bills. If so, a side hustle may be necessary. There definitely is nothing wrong with multiple streams of income, regardless of your situation.
Whatever you pursue for a living, or as a passion, let it (they) not be a substitute for relationships, friends and other pursuits that ward off loneliness.
If you are having trouble meeting people, think of something you like to do and find an organization of people who like the same thing(s), with whom you could have friendships or relationships. There are many such organizations out there, regardless of what you like to do.
The key here is having in-person relationships, not online relationships.
Online relationships can have a place, but they should not be one’s primary social interaction.
We tend to tip piano players at bars. In fact, the pianists expect that you “put bread in my jar,” as the song says. But the song “Piano Man” can leave a tip for you. Pursue your passion, make a living and have multiple good friendships and relationships.
Play on, “Piano Man.”
Peter
Tag Archives: CBS
MILLIONAIRES CREATED IN BUNCHES
#millionaires #immigrants #frugality
Just about anyone can become a millionaire.
The big difference between those that become millionaires, and those that don’t, is ambition.
Statistics show that one in 100 people in the world will become millionaires, with the ratio increasing with time. One in 10 immigrants to the United States will become millionaires.
In a story aired on CBS’ “60 Minutes” May 7, 2017, CNN’s Anderson Cooper reported on the case of Roberto Beristain, a restaurant owner in Indiana who had come to the U.S. illegally 20 years earlier. He is in the process of being deported, despite having a wife and children who are U.S. citizens. Before all this, those who knew him said he was a job creator, not a job stealer. It appears he was well on his way to becoming a millionaire.
Master investor Warren Buffett, in his February 2017 letter to his Berkshire Hathaway investors, praised “ambitious immigrants” for helping to increase the wealth in America, according to USA Today.
So why are immigrants being demonized?
In certain public discourse, immigrants are described as either moochers, job stealers or potential criminals or terrorists. Certainly, among any human group, you’ll have bad apples. You will have people who will do others harm, or take from others.
The vast majority of immigrants come here either for economic opportunity, or to escape violence, corruption or other evils in their home countries.
When opportunities are given to immigrants, most take advantage of them. They work hard, they learn what they need to do and many of them look for unmet needs and find ways to meet them.
Some come here for education and, yes, stay. They fill lucrative jobs that American talent apparently is not filling. Some do menial jobs that Americans, in large numbers, will not do. In those cases, the immigrants may not be educated, but they have skills Americans, in large numbers, chose not to acquire.
They are creating products that Americans use. Most pay taxes.
When all the immigrants are gone, what will Americans do? Will they be able to fill the jobs they have vacated?
Some areas of the country have seen their populations decrease, because the young people who grew up there see no opportunity for them to succeed. These areas actually want immigrants to move there, to fill vacant housing, and take unfilled jobs.
So, do you want to become a millionaire? It’s not necessarily easy to do, but you have to find an unmet need, or a met need of which you can lower the cost.
You have to be frugal. You have to save and invest properly. Becoming a millionaire may not be an instantaneous process unless, of course, you win the lottery. If you are so lucky, learn to use your money wisely, so you’ll still have a good bit of it when you die. That may require you to grow as a person, as well as having a good investment strategy.
You may have to look for a vehicle to help you become frugal, and perhaps help you to increase your income. To check out one of the best such vehicles, message me.
Millionaires generally are careful with their money. They are looking to spend less, earn more and do what they must to achieve their goal. They do not believe anyone owes them anything they have not worked for.
Do you want to be a millionaire? There’s a difference between wanting it, and doing what you need to do to get it. Most millionaires don’t work for the money. They work for what they can accomplish with the money.
Dolly Parton sings of “a cup of ambition” in the theme for the movie “9 to 5.” You may need more than a cup of ambition to be among the one in a hundred millionaires.
Peter
RETIREMENT PROSPECTS DON’T HAVE TO BE GLOOMY
#retirement #SocialSecurity #employment
It’s been said many times, in many ways: many of us don’t see how we can retire.
Perhaps we haven’t been able to save enough. Perhaps we won’t be getting the pension we were promised. Perhaps we believe Social Security will be tapped out before we can tap in. Or, perhaps we’ve been put to the curb by our employers at middle age, can’t find a comparable job and have to “retire” before we want to.
Robert Powell, editor of Retirement Weekly, discussed some of these issues in a USA Today column, published June 1, 2015.
Powell talks about postponing retirement until age 70. That’s fine, if you like your job and are able to do it. Bob Schieffer, the longtime newsman with CBS, had recently retired at age 78. But, most employers won’t exercise that much patience. Once an employee hits middle age, he or she usually begins to get messages about “early retirement.” For many employers, a middle-age worker, particularly one who has been with the company a good number of years, is taking a lot out of the company in salary and benefits. If that position is vital to the company, then it can be more economically filled with a younger, less senior person, who may bring some new energy to the company.
Now, if you are able to extend your employment, there are great benefits to waiting until age 70 to collect Social Security. Powell says your benefits could go up by 76 percent by waiting. Basically, delaying Social Security should be a no-brainer for anyone who doesn’t need the money in retirement. It’s a whole different matter if you NEED the Social Security money to survive.
Powell also talks about the longevity risk. Will you outlive your money? One way to avoid the longevity risk, assuming you’ve been able to save some money, is to only tap the dividends, interest and other earnings your money generates, without dipping into your principal. Certainly, people are living longer and the longevity risk is real. If you are already middle age, your parents and grandparents would envy the longer average lifespan you now have. If you are young, presume your average lifespan will increase further. Start saving whatever you can TODAY, and don’t touch it until you retire.
Again, this is easier said than done when you don’t earn enough at your job, your employer doesn’t offer retirement benefits of any sort etc. Take this hint: live within or below your means. If you aren’t making much, look at what you spend your money on. Buy what you can afford, when you can afford it.
If you are married, postpone having children until you are financially ready to care for them. If you are single, look to share a household with friends to lighten individual expenses.
Powell also talks about home equity. There are some famous people out there touting reverse mortgages, which are a fine solution for the property-rich, cash-poor retiree. Perhaps it’s best to consider this option a last resort. Some of the ads say you retain “complete ownership” of your home as you draw cash from the equity. Your name is on the deed still, you are responsible for all the maintenance of the home, but the lender owns whatever chunk of equity it has turned into cash for you. If that doesn’t matter to you, then check out the reverse mortgage option as a last resort.
One thing Powell doesn’t mention is the idea of re-inventing oneself. If necessity is the mother of invention, then retirement, for some, is the mother of re-invention. There are multiple ways out there to make an income, perhaps even a great income, without having a job, pension or other source of funds. For one of the best, visit www.bign.com/pbilodeau. You have to be willing, perhaps, to re-invent yourself. Or, you have to be looking for a way to cut spending and earn more money. But a retirement solution could be waiting for you, if you are willing to look at it.
The retirement picture doesn’t have to be gloomy, particularly if you are young. But it does take some thought, perhaps some habit changes or courage to re-invent. It’s OK to be afraid, but sometimes we have take action while afraid. That action, gradually or quickly, can ally our fear.
Peter