On a personal note, as I get older, more regrets come back to haunt you. It happens to all of us whether we write it down and post it on the Internet or we keep it to ourselves. One of these for me is having enough for “retirement”. I put that in quotes as it is different for all of us and will certainly be different than most of us expect it to be.
As I grow older and don’t see my accounts where I think they should be for me to feel good about “retirement”, I become concerned and look for ideas and actions I can take to improve my odds of having actual choices 10,12,15 years down the road.
Turns out I am not alone.
But of my fear is by seeing older generations struggle. With the baby boomers “retiring:” it is clear that more than a few people end up like the folks in this PBS Newshour story by the fedora wearing economics reporter Paul Solmon.
They have had to go back to work. Some fulltime and others part time. More because they have to than those who get to. And there’s a difference in that.
To see this at my age, I have two thoughts: First, it’s great to see older folks out being active. Working and engaging. That social interaction pays dividends. I have seen too many just wake up and watch cable news all day and wait for the mailman or package to arrive.
The second is, being absolutely terrified of being in a position where you don’t get to live where you want or do the things you enjoy. You’re stuck. Just like you were back in your 20’s when you were at the bottom of the totem pole and in an apartment with a crap roommate in an even crappier part of town. Not enough money to move or do things you enjoy. Just existing.
There are no time machines. There is no way to go back and stick with that investment or stay in that job. You made the choices and now you hope that the bets pay off or at least give you a shot at having options later in life.
