Your Golden Years Don't Have to Be Tarnished
This is a good read from Ben Stein on Yahoo. It is eye opening in terms of magnitude and makes the case for foreign exposure.
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10 comments:
LOOK! The sky is falling!
I've followed both Ben Stein AND Ray Lucia for years and in my book, you can't find smarter or better people to listen to (pardon the fractured prose). I don't think Ben is being "chicken little" but rather, I think he is offering sound financial advice based on looking at the "big picture". I was able to retire at age 52 (and yes, I gave up most all of my company pension and my company healthcare to do that) by following their advice. That was seven years ago and I'm still retired and still following their advice!
I don't know if the sky is falling but Ben's scenario will do more damge to our financial future than larry Kudlow's greatest story never told hype.
Retired at 52 (lucky), moved to Prescott (smart). Good combo!
Ben Stein speaks a lot of sense.
Fred
Roger,
While I do feel extremely fortunate that I was able to jump out of the Corporate rat race at age 52, I think it was a lot more planning, saving and investing than "luck" which allowed me to retire. I followed what Ben and Ray have been preaching. No buyout or corporate largesse in my case. Just a simple "I quit, time to retire". For me, it was a quality of life decision to leave the work force early, with less money, than to continue working in the bowels of a windowless corporate building for a few more years. Moving to Prescott (in the Ponderosa Pines) has been one of my smarter strategies!
my comment was intended only as some lighthearted humor, no offense intended.
No offense taken, Roger. We definitely could all use some more humor these days. I appreciate your writings and thoughts. I read them every day.
I e-mailed Ben off of his site and asked him if we couldn't just print more money to pay off those pesky loans. If the suckers(our debtors) won't honor our paper, we can always burn it in the winter to keep warm. Of course, that will just contribute to the Global Warming conspiracy but that's OK with me. The winters are too damn cold here in Indiana anyway. Tom in Indy
Friday night envelope markup exercise tells me I have 40% U.S. stocks, 20% foreign stocks, and 40% bonds. The bonds are split about 60/40 U.S. governemnt / foreign government.
I'm comfortable with that.
Fred
P.S. "Retired" at 52 when the company figured things were going so well they could do without me.
P.P.S. Went back three months later (!) as an overpaid consultant when they figured out things didn't go so well when I wasn't there. Oops.
Ben Stein is very wise and offers some geat insight along with some intelligent solutions. Owning a variable annuity is not one of them.
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