WE LOVE VACATIONS, BUT SHOULDN’T WE BE WORKING?

#vacations #vacation #working #jobs

Ah, vacation.

We work so hard for it.

We wouldn’t want to be on vacation all the time, would we?

Brian O’Connor, a philosophy professor at University College in Dublin, Ireland, took on this subject in an article published April 29, 2018, in The Atlanta Journal-Constitution.

“Although annual leave is a right in many workplaces, it is of significant value to employers, too,” O’Connor writes.

Studies urge employers to embrace paid leave, the article says. It refreshes workers, and gives employers opportunities to expose others, who would do the work of the vacationer, to other jobs in the company, thus gaining workers with more diverse skills, O’Connor writes.

O’Connor’s point: vacations are designed as a respite from work, but we all need to be working, rather than being on vacation all the time.

Let’s break this down further. First, as employees, most of us get paid time off in a variety of fashions. There is vacation time, which tends to increase with years of service – up to a maximum, of course.

Then, there is sick time which, in theory, is there to use as needed for illness or other emergencies.

Finally, for those with certain jobs, there is paid time to attend educational seminars, specific offsite training etc.

Some employees will abuse some of this time off, particularly sick time. We’ve all heard the expression of calling in well. Sick time, of course, should ONLY be an insurance policy for illness and emergencies, and should be used only when necessary. Mental health days, unless they are for a specific diagnosed condition, should not be taken. (People with a diagnosed mental condition may have fewer employment opportunities).

Some people don’t get any of this paid time off, despite the encouragement to employers to provide it.

Others are generously paid for NOT using their time off when they retire.

Others, depending on the job they have, are literally punished for taking time off. They have to work extra hours prior to leaving on vacation, and face a huge pile of work when they return. Others can just comfortably go on vacation, without added pressures or work before and after.

With today’s technology, some can take the job with them on vacation. If you are one of those, you may need to set some new priorities.

Though O’Connor’s article argues that vacations are merely a rest from toil, and that toil is something that doesn’t please you, it can be argued that a permanent vacation – or a change in your life – may be needed. There are many vehicles out there that, for a few part-time non-job hours a week, can give you the freedom to change your life for the better. To check out one of the best, message me.

Despite the nobility of labor, if you don’t enjoy what you do, or if what you do does not provide you with the life you want, it may behoove you to look at alternatives.

Your personal goal should be to go on your longest vacation ever – retirement – as soon as you are able. In today’s work world, that decision sometimes can be made for you.

Peter

HAPPY 2019!

#HappyNewYear #Happy2019 #NewYear
May 2019 bring everyone blessings beyond measure.
The past year has seen many contradictions. Though the unemployment rate is low, the stock market has been volatile.
Bad weather brought on many catastrophes.
Though many are still struggling to recover months later, the country and its communities have shown great resilience in the face of tragedy.
So how is your personal situation now, and where is it headed?
Are you looking for more of what you have now, or are you in need of a change?
If your employment situation is not what you want, there may be no better time to change jobs than now.
Many “We’re Hiring” signs are cropping up at many businesses.
Some may still be discouraged, having never recovered from the economic downturn about 10 years ago. They have lost good jobs, and the jobs they may have gotten since don’t pay nearly what their old jobs did.
These folks might ask, what good are plentiful jobs if most of them don’t pay much?
If you are in that situation, or you have a job that eats you alive to the point where you have little time for much else, there are many ways out there to pick up not just extra income, but potentially an income that could change your life. To learn about one of the best such vehicles, message me.
Meanwhile, take stock of the many good things in your life.
If you want a better 2019 than 2018, start with optimism – a belief that you can make your life as good as it can, or should be.
No matter the circumstances around us, most of us can find some good to celebrate. Focus on that. Your attitude is the one thing YOU can control.
Another thing you can control is how you treat others. Be more of a giver than a taker. Those who take tend to get their hand slapped. Those who give tend to get rewarded eventually.
Instead of looking for fairness, look for goodness. Much of life can be unfair, but amid the unfairness, goodness most likely can be found. If it can’t be found, it can be created. Be one who creates goodness.
Creating goodness helps a person grow. By always creating goodness, a person always keeps growing.
So don’t just wish for a good year, make 2019 a good year.
Wish that others will do the same. Better yet, help others do the same.
Don’t let circumstances dictate your life. Make life better by appropriately dealing with your circumstances.
Here’s to a happy new year that you will create.
Peter

ACADEMIC FRAUD?

#education #AcademicFraud #college #CollegeDebt
Only 37 percent of 12th-graders tested proficient or better in reading. Only 25 percent did so in math.
Yet, the high school graduation rate is better than 80 percent.
Columnist Walter E. Williams, who writes for Creators Syndicate, quoted these figures from the National Assessment of Educational Progress’ 2017 report, also known as The Nation’s Report Card. His column on the subject was also published April 25, 2018, in The Atlanta Journal-Constitution.
He also writes that not only do 80 percent of high school seniors graduate, 70 percent of white high school grads were admitted to college in 2016, as well as 58 percent of black high school grads. Here, he quotes the Bureau of Labor Statistics.
Colleges, then, have to provide remedial courses, dumb down their courses so ill-prepared students can get passing grades and/or set up majors with “little analytical demands so as to accommodate students with analytical deficits,” Williams writes.
Williams’ conclusion: there is academic fraud being committed at all educational levels.
“How necessary is college anyway?” Williams asks. “One estimate is that 1 in 3 college graduates have a job historically performed by those with a high school diploma,” he writes.
We’ve all heard the stories, particularly in recent times, of students coming out of college and hitting the job market with degree in hand, college debt on his or her back and slim prospects not only to earn an income appropriate for his or her education level, but even to find a job at all – at least one in a field to match his or her education.
There is a teacher shortage, however not every college graduate is fit or prepared to teach. Besides, many of them might think that teaching doesn’t pay well enough for them to cover payments on their college debt, let alone any other life expenses. (Some loan programs allow college debt to be written off if the student goes into teaching for a certain number of years).
The pressure is on most children from grade school to go to college and get that degree, so they can get that good job. The pressure is so intense that families – ultimately, the students – go into debt to pay for that education.
They then spend some of their most productive work years paying that debt off, and probably delaying things like buying a house or saving for retirement. In the extreme, these graduates move back home with mom and dad and stay for several years, thus delaying their parents’ progression toward retirement.
As Williams points out, the cycle is that many students get through high school ill prepared for college academically, yet go to college anyway. They really can’t afford college, yet they view it as an investment into a great career. Again, as Williams asks, “How necessary is college anyway?”
First, if a student isn’t prepared to cut it academically in college, it’s perfectly OK not to send him or her, especially if you are going to saddle that student with a massive debt upon graduation – presuming he or she can get TO graduation.
Then, if they wind up waiting tables or doing some menial job that doesn’t require a college degree, what was the point of the education, or the debt?
Fortunately, for a student like that, he can take his menial job, work as many hours as he needs to and, in some of his off hours, pursue one of the many ways to earn money without taking a second W-2 job. Many such vehicles can eventually provide an income that could surpass any income from not just the menial job, but also from a job that would be appropriate for one with a college degree.
But, to pursue this, the student has to be willing to check out such a vehicle. If you’d like to examine one of the best, message me.
Otherwise, one could struggle to get through high school, get into college and take a lot of “gut” courses or major in something that will not have much value on the open market – and pay dearly to do it.
No education is really wasted, but one must have eyes wide open about the economic potential — and cost — of what one wants to study. Try to enjoy school at all levels, if you can, then look for ways to support yourself, and perhaps help others do the same.
Peter

IS YOUR ECONOMY MATCHING THE NATION’S?

#economy #YourEconomy #jobs #raises
OK. The numbers show a booming economy.
Corporate profits are up. The unemployment rate is at a historic low.
So, how are you doing – financially, that is?
Arizona Republic columnist Russ Wiles poses that question in a column for USA Today. It was also published July 1, 2018, in The Atlanta Journal-Constitution.
If you don’t find yourself in a booming financial situation now, here’s what Wiles suggests: find a better, steadier job, while the unemployment rate is so low; He admits, however, that a lot of jobs pay poorly or feature irregular work hours.
He also suggests getting financial help from someone outside your household – hey kids, ask mom and dad or supplement your income with a part-time job in your off hours.
He even suggests the bold move of asking your boss for a raise. Wiles says the employee may be in the driver’s seat in this economy. We’ve all been told, perhaps, that it never hurts to ask. After all, the answer is always NO if you don’t ask. As a practical matter, however, most request for raises generally receive a NO, perhaps in a more graceful manner.
Let’s look at this problem from the employer’s perspective. The general rule of thumb is to pay people as little as you can get away with. However, if you have good, dependable people working for you, it may improve your bottom line – and cut down on work you have to do yourself – to INVEST in those people.
It’s not just in raises, though they indeed may be necessary. You want to make sure that if you know of some particular hardships that a good employee is enduring at home, that you help relieve some of that stress as best you can. Recently, an Alabama worker just hired by a moving company walked 20 miles, hitching rides along the way, to make sure he showed up for his first day of work.
The employee’s car had broken down and he had no other way to get to work. The boss, realizing how difficult it is to buy that kind of dedication, gave the young man a car.
That CEO should make sure he has a decent career ladder crafted for that employee, so that he never leaves.
Of course, at the same time, we read about employers dealing with workers who don’t show up for interviews, or, worse, are hired and don’t show up for their first day of work. Or, they abruptly leave a job without giving the employer any notice.
Reports indicate that during the recession, people would apply for or be interviewed for jobs, and the employers never get back to them. This may be in retaliation for that.
If you follow Wiles’ suggestion and consider getting a second, part-time job to boost your finances, consider a thought outside the box. There are many ways out there to pick up some extra money – perhaps eventually enough to quit a lousy job you hate, that doesn’t pay you enough – that do not involve a second, traditional job. To check out one of the best such vehicles, message me.
In short, these are supposed to be among the best of times for workers. However, many jobs involve hard work and low pay – or at least lower pay than many deserve. Companies have to keep their costs down to compete. The employers have to make money. No one wants to work for someone forced to go out of business.
It’s up to employers and employees to learn more about each other’s circumstances. There’s really no good reason for people not make good wages, while companies make decent profits. It does workers little good to keep changing jobs, and it does employers no good to have to be constantly rehiring.
Everyone – employers and employees – wants options. If everyone treats everyone fairly, there’s no telling what great options everyone will have.
Peter

ROBOT TAKING YOUR JOB? DON’T TRY TO STOP IT; ADAPT

#robots #RobotsTakingJobs #automation #jobs
Experts everywhere are trying to figure out what to do when robots take over the lion’s share of jobs.
Though it is already happening, many speculate it will be more widespread in years to come.
The Houston Chronicle took on this topic in an article that was also published in the June 16, 2018, edition of The Atlanta Journal-Constitution.
Some would have the federal government give everyone what they needed to live on, while the robots did all the work, the article says.
In a Roosevelt Institute paper, titled “Don’t Fear the Robots,” economist Mark Paul writes that a series of not-so-radical policies would go a long way to ensure the technological advancement would be widely enjoyed, the article says.
Paul argues for overhauling intellectual property law so that the companies that develop valuable patents and trademarks don’t have such a long monopoly on their innovations, the article says. Paul also sees more people working part-time, sharing jobs, as a way to keep unemployment low, the article says.
He also argues that that the rapid shift in needed skills and technologies would strengthen the case for more publicly funded higher education and training, the article says.
Whatever solutions are developed, our attitude should be to embrace technological innovation, rather than stymie it. After embracing the new technology, even if it personally affects us, we can then figure out what our own next steps should be to not just make a living, but to potentially prosper.
Fortunately, there are many vehicles out there that we can check out to potentially solve our problem. The good news: no robot could take those options away. We just have to be open enough to check them out, even if it means doing something you never thought you would ever do.
If you see yourself losing a job to a robot, or someone else, or if the job you are doing now is not helping you fulfill your dreams, message me if you want to check out one of the best alternative vehicles.
Our knee-jerk reaction to change is to try to stop it or stand in its way. Remember, those who stand in the way are more likely to be run over.
Technology, efficiency and innovation are all coming. We can’t stop them, so why not embrace them?
Factories will continue to hum along, just, perhaps, with many fewer people.
More work will be untouched by human hands.
Progress cannot be stopped.
We just have to figure out how we will fit into the new world.
Much like the weather, progress will be what it will be. It will take us wherever it will take us.
Standing in its way will get you body-slammed.
Don’t just stand there. Adapt.
Peter

LABOR UNIONS GETTING MORE CLOUT

#LaborUnions #MoreUnionClout #workers #jobs
Labor unions, and their power to create a lifestyle for their members, have been declining for years.
And, government has been assisting in that decline by passing laws reducing the unions’ bargaining power. Recently, the Supreme Court ruled that government workers who declined to join unions that represent them in collective bargaining cannot be forced to contribute to those unions.
That ruling would certainly have an impact on a union’s ability to raise money to cushion labor disputes etc.
But, according to an article by Nicholas Riccardi for the Associated Press, there’s a little more enthusiasm now for labor unions. His article was published June 29, 2018, in The Atlanta Journal-Constitution.
“There’s kind of a spark going on now with unions,” the article quotes Mike Hinton, 39, a UPS delivery driver and Teamster from Campbellsville, Ky.
Whether its Las Vegas workers striking at Strip casinos, and winning concessions, or teachers striking in states that have chopped education budgets for years, unions are trying to make a comeback, the article says.
In fact, the article says labor unions picked up 262,000 new recruits last year.
It’s not clear why unions are making a comeback. “I don’t know if locals have been unusually organized rather than things have just gotten very, very bad,” the article quotes Moshe Marvit, a Pittsburgh-based labor attorney and fellow at the Century Foundation.
Some historical perspective is in order. As the Industrial Revolution took hold, factories – often called sweat shops – emerged. People moved off the farms to get jobs in these factories and, at the beginning, those jobs paid very little for the hard work people had to do.
So, organizers got the idea of trying to negotiate better wages and benefits for the workers. If they didn’t get what they want, they would convince most, if not all, the workers to strike until demands were met.
Over time, those demands created inefficiencies in the workplace, and companies could not change things without union approval. Of course, the unions’ mission was to preserve as many jobs as possible, with the best pay and most benefits.
Technological progress sped up, and companies found ways to produce their goods more efficiently with machines, rather than human power.
As fewer people worked in factories, unions gradually lost their clout, with the exception of the public sector unions.
Some recent improvements in working conditions have taken hold because of a tightening job market. Still, in general, job security is almost non-existent. Raises are few and far between. Employee benefits, pensions etc., have gradually gone away. The income gap between rich and middle class grows wider. The middle class is declining.
Perhaps, with a strong economy and companies unable to find enough workers, labor feels emboldened.
The lesson here might be that, for as long as it took for unions to gain power in previous decades, workers may not want to wait for that to happen again.
If you have a job that doesn’t pay you enough, or give you enough benefits, you might want to find some part-time, off-work hours in your schedule to check out the many ways to earn money that doesn’t involve a W-2 job. To check out one of the best, message me.
Organizing labor is risky, as the article points out. The way things are, or the way things are headed, may make workers believe it’s worth the risk to organize.
Remember, whatever choice you make, think it through and make sure it’s the right thing for you to do. There are ways to bolster your financial future with much less risk.
Peter

BUYING A HOUSE REQUIRES MUCH THOUGHT

#HomeBuyingMistakes #homebuyers #BuyingAHouse #DreamHouses
Buying a home is a big decision, no matter where you are in life.
“When you’re in your 20s, your life isn’t the same as when you’re retired, and yet you’re both going to make some timing mistakes (when buying a home),” Natalie Campisi quotes Ilyse Glink, author of “100 Questions Every First-Time Home Buyer Should Ask.”
Campisi wrote her article for Bankrate.com. It was also published June 11, 2018, in The Atlanta Journal-Constitution.
Campisi discusses the various mistakes buyers in different age groups make. Young buyers, in their 20s, often get the wrong type of mortgage because they may not have had the ability to save as much for a down payment. The lesson here is to avoid adjustable rate mortgages, tempting as they might be for young buyers who see a great introductory rate.
Buyers in their 30s, meanwhile, may not be considering a future family when standing in the middle of a downtown condo with great views, Campisi writes.
Middle-age buyers in their 40s and 50s tend to overestimate their budget and buy houses they can’t afford. One can avoid this by figuring out his or her lifestyle comfort level, Campisi quotes Glink. When figuring out a budget, these buyers should leave enough room for things that are important to them, such as private school tuition for the kids, Campisi writes.
Retirees, in their 60s and older, tend to fall in love with a vacation home, Campisi writes. They get attached to a vacation home before making the decision where they might want to retire – either where they live now, a warmer climate location or even another country, Campisi writes.
In short, buying a home requires careful thought and wrong decisions, no matter how old you are, can be costly.
Younger folks may opt for a smaller, more affordable house as a starter, with plans to trade up as they get more financially settled and decide when, whether and how big their family will be.
Older folks may go from bigger house to smaller house, as children leave and the desire for less upkeep strengthens.
But it boils down to money. What if you could buy whatever you wanted, wherever you wanted? For most, that’s a dream. Yet, it could be a reality if you consider ways other than a traditional job to make money.
There are many such vehicles out there for those willing to consider escaping – even for a few hours a week – his or her comfort zone. If you are that type of person, and have the desire to live where you want and in whatever house you want, message me to check out one of the best such vehicles.
The Bankrate.com article talks a lot about the practical considerations to home buying, and less about emotional considerations.
For example, you may have sentimental attachments to a house – perhaps it’s where you raised your family or, as the article pointed out, it’s where you liked to go on vacation.
Remember that adding emotion into such a big decision can complicate matters. So, if you buy a house, think of it strictly as a house – a financial asset that provides you shelter, and comfort, of course. Your home is wherever you are.
A dream house can be created with building materials. It can also be purchased already built. A dream home is wherever you decide to settle. You can create a dream home by making the most of life wherever you are.
Peter

MILLENNIALS’ FINANCIAL DITCH

#millennials #StudentLoans #CollegeDebt #FinancialSecurity
Some millennials find themselves in not just a financial hole, but a ditch, just as they start their adult lives.
They come out of college deep in debt, and wind up with a low-paying job, making it difficult, or impossible to keep up with their loan payments.
Tom Allison of the Young Invincibles, an advocacy group, discussed this in an article that was published May 1, 2018, in The Atlanta Journal-Constitution.
Allison talked about Siara Sellers, 28, who owes almost $13,000 in student loans. She’s working part time at a UPS warehouse near her Detroit home, making $11 an hour. She had to leave school in 2013 after her grades plummeted. Her older, now-retired husband became sick at that time, the article says.
“Young adults with college degrees and student debt, for example, find themselves looking at a median, negative net wealth of $1,900, based on research by the Young Invincibles. Simply put, they owe more than they own,” Allison writes.
“There’s no question it used to be much easier to build financial security 25 years ago with a college degree,” Allison says.
So what is a young person to do?
First, don’t let circumstances get you down. Learn to make the most of what you have, and appreciate what is good in your life.
Second, the employment picture is improving greatly. It was reported recently that there are about as many jobs as there are unemployed people, which is just about the best of both worlds. That could send wages and salaries higher.
If you have a marketable skill, find different ways to use that skill and, if you have enough ambition, a clean record etc., you should be able to find something suitable.
Once you get a job that suits you, pay down your debt at whatever speed is comfortable. Obviously, paying it down sooner rather than later is preferable. Then, once it is paid, use that payment, plus any income increases you may get, to put toward your retirement.
Easier said than done, you say? Well, there are many other ways out there to make money working part time in your off hours, without taking a second, W-2 job. If you are motivated and want to help others prosper, you can learn about one of the best such vehicles by messaging me.
Those who are older may want to be young again, but others who are older do not. What the young folks are going through is tough to watch. In fact, some older workers are “being retired” sooner than they want to.
In short, if you are young and considering college, think about what it will cost you, and what you will do with your education on the other side before deciding to go to college. Though all education is valuable, it may not be worth taking on what would seem like a lifetime of debt for a degree that won’t make it easy to pay off.
Just as you need, as a young person, to have the right attitude, you also need to make decisions that will be best for you in the long run. That may require opening your mind to things that may lurk outside your comfort zone.
Times are tough. But tough people get through them – even to the point of seeing prosperity.
Peter

DON’T COSIGN YOUR GRANDCHILD’S STUDENT LOAN

#SchoolLoans #CosigningSchoolLoans #EndangeringRetirement #StudentLoans
Students looking to go to college might hit up one or more grandparents to co-sign for a student loan.
Personal Finance columnist Liz Weston recommends against it, for the most part. She discussed the topic in an April 29, 2018, edition of The Atlanta Journal-Constitution.
Here are Weston’s reasons: late payments will trash the grandparents’ credit; if grandparents have to take over payments (perhaps because the student, presuming he or she graduates, may not find a job immediately, or has to take a low-paying job), the strain on their finances can endanger their retirement.
Of course, this could be a moot point if the grandparents are independently wealthy.
So, if you are considering co-signing a student loan for your grandchild, or the child of a friend or relative, consider this scenario: the child graduates from school with a five- or six-figure debt, and can’t find lucrative work – or, at least, work that would match what he or she studied. If you’ve co-signed a loan, the debt collector will notice that and come after you almost immediately, because there may be a house or other assets they can tap quickly.
If you are a student, do you want to put your grandparents, or other friends or relatives, in that position?
If you are the grandparents, or other co-signers, do you want to mortgage your future for the sake of that student? At least in theory, the younger generation should be working to help the older generation, not the other way around.
If you are distant from the student, and co-sign a loan because your friend or family urged you to, how much do you think the student would care that he or she has saddled you with this debt? Many students believe college loan debt is something they can blow off temporarily until they get financially settled. If the debt collector has already been repaid by a co-signer, the student may not be obligated to repay you. What lesson(s) does that teach?
It all goes back to the reason a student chooses college in the first place. Certainly, students with good grades and a clean record should actively consider a college education. Perhaps that student can opt to start his or her education in a low-cost community college, and graduate up to a four-year school.
That would ease the college tab a good bit. But as the student and parents think about the student’s future, they have to consider what the student will do with the education, and whether what they do would be worth the investment (or expense, depending on how you look at it).
Another idea: defer admission for a year, and have the student get a job that will allow him or her to save a good chunk of money for college.
Also, does the student have the discipline, ambition and tenacity to do well in college, in spite of temptations that could distract him or her? A smart student with no drive is like a shiny car with no engine.
And, if the student has the drive and smarts for college, but chooses a field of study that will be enjoyable, but not terribly lucrative, perhaps the family should consider a vehicle that will help the student pursue his or her passion, while earning a potentially good income with a few part-time hours a week.
There are many such vehicles out there. To check out one of the best, message me.
Weston, in her column, goes on to advise grandparents, and other co-signers, how to deal with the problem if they’ve already cosigned.
Here’s her warning, if you are in too deep: “Talk to a bankruptcy attorney. Student loans are extremely difficult to erase in bankruptcy court. …. If you don’t have any assets other than retirement funds, and your only income is from Social Security and pensions, you may be “judgment-proof. That means, if you are sued, the creditor can’t collect anything.”
Try not to get yourself in that situation. If you are asked to co-sign, say no, firmly. Your grandchildren, relatives and friends may be disappointed. If they are, so be it. You will have done the right thing by you.
Peter

HAPPY RETIREES

#HappyRetirees #mortgages #MultipleSourcesOfIncome #FullCalendar
There are three characteristics that make happy retirees.
Those are a paid-off, or at least paid-down mortgage, multiple sources of income and a full calendar of activities.
So says Wes Moss, who writes a Money Matters column for The Atlanta Journal-Constitution, and has a Money Matters radio show on WSB in Atlanta. He discussed happy retirees in his April 24, 2018, newspaper column.
Moss narrowed the happiness criteria down from the research he did for his book, “You Can Retire Sooner Than You Think.”
The mortgage issue is certainly up for debate. Certainly, when one is working, paying down mortgage debt is certainly a good use of money. It’s not a substitute for saving and investing, but if you have a relatively high mortgage interest rate, applying extra money to one’s principal in mortgage payments is like putting money in your pocket.
Of course, if your interest rate is relatively low, and you have a good financial adviser, you can probably do better saving your cash and investing it well. A rule of thumb: if you have a 5 percent interest rate on your mortgage, and you have a good financial adviser who can certainly make you a good deal more than that on your money – on average, of course – then saving and investing could be more lucrative over time.
On the other hand, in a down financial market, paying down that mortgage debt IS a good use of excess cash you might have. It’s certainly better than spending it on frivolous things.
Keep in mind that the more debt you pay down early in the mortgage, the less interest you’ll be paying toward the end of the mortgage. As more of your monthly payment is applied to principal, the sooner your mortgage will be paid off.
Multiple sources of income is also a good thing – not necessarily more income, as Moss points out.
We think of income sources for retirees in terms of a pension, Social Security and perhaps a low-stress part-time job that you like doing.
If you’d been a good saver and investor in your working years, you might also use some of the dividends, interest and other income your nest egg is now earning for you. Try to refrain from touching your nest egg’s principal. Whether you die young or live a long time, as long as your principal is relatively intact, you will NEVER outlive your money.
As for a part-time job, it may serve two purposes. It will provide some pocket money and keep you busy in your elder years. However, if you don’t need the job, your time may be better spent pursuing your favorite hobbies or other activities like, say, golf or travel.
Or, you could add to your sources of income one of the many vehicles out there that allow folks – retirees or not – to make a potentially substantial income by spending a few part-time hours a week. To check out one of the best such vehicles, message me. It could allow you to spend some non-stressful, even fun, time adding to your income sources and help friends do the same.
The lesson here is to plan for your retirement while you are young. You never know when you will retire – or be retired by your employer. You never know when that one bad manager comes into your orbit and kills your career.
If you plan well, perhaps forgoing some immediate pleasures to save money, you can retire, as Moss’ book title says, sooner than you think. If you are forced to retire before you want to, good planning could allow you walk away from that job with a smile.
Peter