The Myth of Retirement – 11.21.21

Rising prices inevitably impact the economy as consumers adjust their buying habits. https://www.visualcapitalist.com/u-s-inflation-which-categories-have-been-hit-the-hardest/

I think a lot of Americans who are preparing to retire now are going to have to rethink their plans. Because there’s no way the money that they’ve saved and the income streams that they anticipate receiving are going to be sufficient given the much higher cost of living that we’re going to be experiencing. And this is not just going to be a few percent a year. We’re talking double-digit increases in the cost of living for many, many years in a row.

Peter Schiff, chief global strategist of Euro Pacific Capital

A hedge against inflation in retirement is to keep working. My patented solution is twofold: Build a nest egg while working, and work for as long as possible, either doing what you’ve been doing, or doing something new and interesting and fun. Full-time is great, but even a part-time gig is great, and for all kinds of reasons, not just money, and even if you have plenty of money and don’t need to work.

Wolf Richter

Retirement math now is simple. If you can, work longer and save more.

The SupremeCmdr – The Myth of Retirement

Remember The Lobsterwoman!

A Moral Cesspool

From zero in 1993 to $1.728 trillion in 2021: this is the predatory financialization of higher education which has enriched lenders, Wall Street and the Higher Education Cartel

America Is a Moral Cesspool, and Student Loans Prove Ithttps://charleshughsmith.blogspot.com/2021/07/america-is-moral-cesspool-and-student.html

Way back in the Dark Ages I borrowed a total of $8000.00 and worked summers and during the school years to pay for my college education. It took me ten years of payments at $69.72 a month to pay the loan off. I promised myself no matter the hardship my own children would not borrow money for their undergraduate degrees (medical school different story). There were reasons why I drove a 2006 Ford Taurus for 15 effing years.

One of the joys of aging is you get to a point where you say what you want to say and the hell with everyone else. Charles Hugh Smith is one of us who possess critical thinking skills and will always tell it like it is. Check out his blog.

And this is a perfect time to remind all of my readers that the opinions expressed in this and my other blog are mine alone and do not represent the views of any corporate entity that I may or may not be involved with either in the present or past.

I should play more and work less. https://garyskitchen.net/2021/07/24/stress-reduction/ I’m starting to become more cynical than usual.

Meanwhile in Oklahoma – 2020 Halloween Ice Storm Cleanup

The sounds of chainsaws are buzzing in the neighborhood. A few days ago I promised some pictures. It has been a week from hell.

Our power at the house has remained on for two full days in a row. We were planning on cleanup work this weekend until our longtime yard services provider showed up. The Boss took a tour of the property with the crew leader who told us not to do anything and that they would take care of all debris, trim up the trees, and stack along the curb for city pickup. I don’t have to buy or borrow a chainsaw. That’s the good news. The bad news is I feel my checkbook getting lighter.

Meanwhile in Oklahoma – 10.28.20

Day Three. We heard from a neighbor the electricity came back online around 3:00 PM. The Boss and I spent the day in her business office working. I was impressed with her company’s new co-working office. The electricity was online, wireless internet was amazingly fast, free drinks, snacks and HOT COFFEE. We are back home now doing many things that require electricity because we’re not so sure how long the power will stay on.

It’s very messy outside and the clean up starts this weekend. I’ll be taking lots of pictures to capture what has been the worst ice storm I’ve ever experienced. Stay tuned.

There’s Nothing “Radical” About This WFH Plan

This is the latest in a series of major companies having made similar announcements, including Microsoft. But Synchrony’s proposal appears to be more radical in that it:

Allows all its US employees to work from home permanently.

Requires some employees to work from home all the time with no access to an office.

Requires all employees to work from home at least some of the time.

Requires even management with “assigned seats” to work from home at least 1-2 days a week.

In a memo to employees, reported by Bloomberg today, CEO Keane and Synchrony President Brian Doubles explained that Synchrony will have three types of offices:

Virtual offices: employees will work from home permanently, and there is no office they can go to.

Hoteling offices: employees work at home permanently, but if they need to, can book a desk at a nearby office location.

Hybrid offices: employees can work from home but they have an assigned seat at a nearby office where they can work at least three days a week.

Synchrony Financial Disclosed Radical Work-from-Home Plan, Layoffs, and “Office Footprint” Reduction — https://wolfstreet.com/2020/10/20/consumer-finance-giant-synchrony-disclosed-radical-permanent-work-from-home-plan/

I have been a WFH (work from home) warrior since 2006. There is absolutely nothing radical about the plan outlined above. I’ve been patiently waiting all these years for the business world to come around to my way of thinking. To be be clear, a lot of businesses would not adopt WFH without a nasty virus driving the agenda.

Too bad I’m currently a W2 worker. If I was still consulting I would make a MINT advising companies how to do the WFH thing effectively.

And what not to do when you’re on a Zoom call.

Do You Live to Work?

It’s just a job. Grass grows, birds fly, waves pound the sand. I beat people up.

Muhammad Ali

It is a mistake to measure an individual’s value solely in terms of what the marketplace will pay that individual. Unfortunately, it is the way our society and culture measures its people.

I choose to be measured by the value I provide to my family and friends, economic and otherwise. I choose to avoid abusive relationships, especially in the corporate world. I am reminded of the work of Paul Hwoschinsky who influenced me many years ago in his book  True Wealth. Do you live to work? Or do you work to live? The answer for me has always been I work to live. It can be no other way for me. It has been no other way for me.

Over the years I’ve posed this simple question to my offspring and to others struggling with the concept of balance in their lives. The offspring have learned the lesson and learned it well. But there are many others with whom I’ve crossed paths that unfortunately never learn nor understand what is truly important.

Do you live to work? Or do you work to live? Think deeply. Choose well.