Carolyn McClanahan’s conclusion– the focus on saving for retirement is a fallacy that needs to go the way of the rotary phone, but we still need to save and plan for the future because we have no clue what will happen in our life or the world. Embrace the fact that uncertainty is the only certainty. Basically, we need to enjoy life today and save for the day we become disabled and can no longer work.
You don’t need to buy this.
I can afford to be more concerned with the how (I’m occupied) than the how much (I make).
I want clients to have to think carefully about what they pay for all financial services, including my own fees. Too often the industry plays hot potato with your money and a little piece (or even a big piece) is broken off with each toss. These hidden costs are often larger than the fees they tell you about in the fine print. But, even the fees they tell you about (account fees, management fees, front and back end fund fees, fund expense ratios, etc.) are broken up in small bits and even automatically withdrawn in hopes that you won’t really notice. It can literally be a death (of your portfolio) by a thousand cuts.
Since I can’t take credit for my good fortune, I view my wealth (relative to most of the world, most of us are wealthy) as a gift and a responsibility. I believe I am a caretaker who can use it for my needs and some of my wants. But, it is also my responsibility to pass it on better than I received it.
I believe money, like everything else, is a gift that we can choose to use for good. I don’t believe that money is the root of all evil, but that love of money (among other things) is evil.