Another week has gone by, the internet is filled with more numbers than usual. The reason it seems is in contemplation of the impending end of year all though that will not occur for another four months and eleven days. The sellers of retirement information are asking potential customers to start calculating all sorts of numbers to help determine what course of action to take to have a comfortable retirement. No shock to regular readers that I am an octogenarian and view all these missives through a rearview mirror. I am not in agreement with the “experts”. With all advice given it is necessary to examine the ultimate goal of the person being advised and not the goal of the advisor.
Too often what is forgotten is the ultimate goal – which is to not outlive one’s money! To talk about how much to save and how much to have in stocks, bonds, and CDs is actually putting the horse before the cart. First, I think from my life experiences and those of my parents’ generation those advisors who live off “your” savings should start with what life choices you should make upon retiring. By that I mean where to live and how large to live? Housing as one ages can come in many flavors and with some serious thinking can be key to a great retirement. Suffice it to say certain rules transcend time: a key is the old whipsaw between want and need.
In my 20s and 30s I had need of a 3BR house. In my 40s and 50s I had need of a 2BR house. By my 60s I needed a 1BR/Studio.
Now in my 80s I believe a 2BR and/or a 1BR home would be most desirable. Once this element of life is decided then how much you should save and where you should keep it can be addressed.
The Matmatecum started in March of 2019 and has had four distributions to date. The fifth will occur between 1/1/24 and 2/15/24 so I have begun to prepare for that distribution. Because of what must be done to facilitate this I have some new numbers to share. Membership has increased through today’s date for the year 6.33%! We have members in 13 states and one foreign country. Our oldest member was born 11/4/30 (MG) and our youngest 6/18/23 (CL). Member MG has already received the entire Cost of Membership that was paid. Two other members have also received their Costs of Membership.
Gleaned from the Internet:
GenZ: 6 – 25 years of age
Millennials: 26 – 40 years of age
GenX: 41 – 55 years of age
Boomers: 56 – 75 years of age
Silent Gen: 76 + years of age
Not being so silent myself I prefer the title “Pre Boomer” vs. “Silent Gen”!!!
JAI BABA
TTFN
JU
