When I reached 63 years of age in 2003, I opted to collect Social Security and retire. I had calculated what would be a comfortable stream of income for me from a sale of a business, income from a second business, and income from some real estate I held. I will not bore you with what followed to turn that worked for dream into a nightmare. Suffice it to say STUFF happens! While recuperating from one of the “Stuff” things I came up with the idea for the Mathmatecum. The Mathmatecum is a very conservative vehicle which is in many ways not who I personally am. I truly believe that the concept of the Mathmatecum is an everyman’s way to financial help when one has reached retirement age, The sooner one joins the better the result and following the protocol would enhance the result. Dollar for dollar an individual cannot achieve as lucrative of a result as the Mathmatecum due to its unique design. The Mathmatecum at present is earning at the rate of 5.27% and can be assured of that rate till 10/31/24. The Mathmatecum was designed with the knowledge that over time it would be assured at least a 2% return.
Personal economics are exactly that, personal. Finding what works for all is a bit difficult because of the great disparities in income. However, what can be done by all before a plan on what and how to save is universal. Be diligent with how your money is spent and avoid extra charges that need not be. For those who are the least financially fortunate learn to buy second hand. Seek out government subsidies and community resources. How to save for the least fortunate is to save one hour’s wage per week. If you are in one of the 20 states that still has a minimum wage of $7.25 your yearly savings amounts to $377 per year. Most people who work for minimum wage usually earn extra monies with overtime or parttime endeavors. My suggestion is to take 10% of that net income and place that with your other regular savings. If possible, have any and all savings automatically withdrawn. Start saving immediately to get in the habit of saving.
It seems to me that as I continue to age, I have flash backs to the past! Some quite vivid -some wonderful- and some not so. I came across a picture of me at First Communion recently and couldn’t remember the event. I did remember the horror of being the only one in the class who wore short pants! My mother was convinced I was little Lord Fauntleroy!! I was teased Un mercilessly by my fellow classmates. Thank God for my cousin Ursala who said I looked great. The church was Saint Anthony in Paterson, NJ! Recently Paterson has been in the news because of flooding due to terrible rainstorms. Through the years I remember being part of bucket brigades and mop ups of the church basement led by Brother George and Sister Mary Simonelli. We knew last names because so many of the sisters had the same first names!
JAI BABA
TTFN
JU
