Financing the Retirement Dream
Just when I thought my nest egg was about ready to feather my retirement, the bottom fell out of the economy and within days, what was once egg is now just shell. I believe that, despite this recent set back, my investments will again grow and prosper. I know that I must wait patiently and continue to invest, and I also know that there are times that I need to rant, re-evaluate and look for wisdom. This Section is dedicated to just such rantings and moments of wisdom. I hope that you might find something here that you can identify with or offers a moment of solace in these difficult times.
I just read There is a Silver Lining on the Newsweek website and it has some interesting insight. To paraphrase, this article says that amid all the difficulties and hardships we are about to undergo, there is one silver lining. This crisis has - dramatically, vengefully - forced the United States to confront the bad habits it has developed over the past few decades. If we can kick those habits, today’s pain will translate into gains in the long run. We, not only as a nation, but also as individuals have depended upon easy money to support our spending frenzy. I realize that I too, am part of the problem. I have purchased things on a whim that I did not need, spending money unwisely instead of saving for a rainy day. Sitting idle in my closet are new shoes that have never been worn, sweaters that still have the sales tag attached and dresses that I will never wear. In my bathroom are a variety of hair products that have been used once or twice and then shoved under the sink and beauty products that promised miracles but didn’t deliver. I have enough blankets and towels to outfit a mansion but I only have one bedroom and one bathroom. There are so many things that I spend money on needlessly without thinking. Maybe this is my wake-up call. Read more »