Looking Back Wisdom

 

I am 76 years old and had a working career that lasted 45 years.  None of the places where I worked had a retirement program.  Consequently, my retirement is based upon SOCIAL SECURITY and the amount of money that my wife and I managed to save before retiring.

My wife and I spend about $4-$5,000 each month and the money coming in each month is about the same amount of money - however, half of that money is withdrawn from our savings each month.

We are living about the same as when we were both working -  and if you would like to look at it another way, we are at about 90% of the way we used to live - maybe a little bit higher or lower.

Others that we know our age because of one thing or another (usually it is still paying off debt) is not living as well as we are <OR> they are having to still work either parttime or full time.

One of the issues that has bothered me ever since I turn 50 years of age is that nothing was taught to me while in high school or college as to how to prepare for my retirement.  Not only was nothing ever taught to me but there was no focus or emphasis on RETIREMENT PLANNING.

If I had been taught something in high school, I would have had 50 years to save for retirement.

Later in life, right around the age of 50, I discovered that if I had saved $2.50/day for 40 years and invested that money each month in a Mutual Fund, I would have $500,000.

TWO DOLLARS AND FIFTY CENTS is not much money at all and could have easily been increased to FIVE DOLLARS.

I also learned about the age of fifty the importance of being DEBT FREE.  Most of what I had acquired over the years, I really did not NEED - they were items I WANTED.  Once you realize that you should buy only what you need, your expectations of life change.