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Are you a puppet for Social Security?

Doug Stardate
Social Security Puppet

It should come as no surprise that the government wants people to work, not start retirement or apply for social security until they are at least age 70. The longer people work, the fewer retirements years the government has to pay benefits.

To subtly encourage people to make the “right choice”, the government Read more

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How I Turned Being Laid Off into an Opportunity

Doug Stardate

California Surfing after being laid off

Surfing at Santa Cruz in California after being laid off

About 6 years ago, at age 53, I was laid off when my job was outsourced. In addition to being told that my job had been deemed redundant as part of my severance deal, I had to train my 3 replacements. And if being let go wasn’t enough, we had just closed on the purchase of a new house and our current home hadn’t sold. And to top this off, I discovered I was 6 months short of qualifying for company pension and health benefits.

Yikes! Laid off after just buying a new home.

After the initial shock, I did what many may see as a reckless waste of money. For years I’d been limited to a few weeks of vacation per year. But now I had lots of downtime. No income, but lots of time on my hands.

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Who’s in Control of Your Retirement Income? It Should be You!

Retirement Income from Residual vs Investment

Chart showing higher retirement income with residual earnings than traditional investments.

A whole industry has been built around retirement savings and helping you save so you have retirement income. This industry is dominated by insurance companies, banks, and financial planning institutions that all have the same mantra: Start early and save for a long time so that when you retire at age 65 or 70, if you’re lucky, you’ll have enough saved to enjoy your retirement.

The director of the Boston’s College’s Center for Retirement Research suggests that people work until age 70 before retiring so they don’t outlive their savings. Agh!! Am I the only one who finds the suggestion of working until age 70 depressing?

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