Yesterday Julie, who is an amazing young MBA grad who works with me directed me to an article on CNN Money.com about the 7 new rules of financial security.(http://money.cnn.com/galleries/2009/moneymag/0903/gallery.financial_rules.moneymag/index.html) She thought I might find it interesting and be able to comment in some way. Well, my first reaction to her says it all. I said it was boring but I’d get back to her with some specific comments. It’s not just boring it is unbelievable. I don’t think I can read the whole thing. I got to the first ‘what to do’ in the section on retirement and just about fell over when it suggested the financial benefits of delaying retirement by one year.
For heaven’s sake – this is the problem with our society – it’s completely lost sight of the whole concept of financial independence and developing income. While this article says work longer is Plan B – it doesn’t offer anything inspiring, original, creative or helpful in terms of how to create income – it only talks about how to save, cut back and sacrifice – this is the problem and it’s disgusting that this same boring message that hasn’t worked for over 50 years is still accepted as the norm. Retirement has nothing to do with age and everything to do with how you hare arranged your finances so you have enough income coming into your household to live the life you want without having to go to work every day. Retirement is when you have arranged your finances so you are financially independent – regardless of age or how much money you have accumulated in your ‘nest egg’.
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