VIDEO ON MSN MONEY
"The truth is no one will ever care about your money as much as you do." No better statement than this.
Here's #11 - Go ahead, trust Robert Wagner or Henry Winkler...go get that reverse mortgage. Hundreds of thousands have reverse mortgages, ya know. And I hear it's the best thing they EVER did. Pssst, they all jumped off a bridge too.
I control my own finances which allowed me to take an early retirement and although am on a budget I am glad that I was able to retire early and enjoy. If anything happens with my finances I have no one to blame but myself. After all it took me almost 30 years to save for my retirement so why would I give someone else control of my finances.
As usual, this MSN article is so self-evident, I fear for people nearing retirement age for whom this is new information. I suppose it's possible there are people who have worked and saved for 40-50 years who don't realize they can't blow all their money at exactly the point they're not earning any more. The author (I bothered to look her up) appears to be about 25 - always refreshing to have twee self-proclaimed 20-something "experts" preach the obvious at us.
One of the worst things to do is to take big chunks of money out of your 401k that no taxes have been paid on. Uncle Sam loves that. Co-workers that retired before me did exactly that to pay off their house. Dumb move.
I have been retired for 8 years and have not had an emergency or unforeseen expense. Don't have any kids so that leaves me out.
Me @ 23, yes kid, just put $25.00 a month in this IRA thing, and when you retire you will have 3 milloin dollars.........I did that, and also put in the max allowed per year most of my self employed working years till I retired at 62. Never took a draw, and I sure don't have any millions,not even 100+ thousands!
I did it my way, with assets like collector cars, rentals and deeds of trust secured by the property..
Learning new financial skills late in life isn't close to having lived that life since late adolescence, the people who insisted that having control over their futures was more tasty than "living the good life NOW" already know, that is why we are the minority.
Those who haven't had the brains and will power to do this are constantly dashing toward the abyss and then crying for some government program to save themselves from their own stupidity!
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