What Does Bill Murray And Seniors Have In Common?

Bill Murray is a Senior Citizen and He is still working! 

Remember when the financial institutions ran all those ads showing people in retirement and living in the lap of luxury? All those so called financial experts who had done a magnificent job creating wealth for their clients. As a matter of fact I remember an ad where the people even took their financial expert on vacation with them.

What Happened?

Most of the so called financial experts were not right and many lost their life’s savings. Now the financial experts are telling their clients they have to work longer.

It just so happens that it’s a blessing and not a curse. When people retire they have to find things to do other they will wither away. Retirement starts with the retiree going full out playing golf and enjoying life like they dreamed about. Spending time in the lap of luxury without a care in the world.

After several years they start to realize that their money is not going to make it through out their lifetime. They are going to out live their wealth. So they realize that finding a part time job will enable them to have some extra income to offset the loss of wealth that inflation is robbing them of.

The part time job is welcomed because they now have additional income to supplement their retirement. But, another thing is occurring as a side effect of all this and that is they are being active and keeping their minds sharpe. They are forced to work but more importantly they are doing things that will benefit their health later in life.

The La Times ran an article about Seniors who work are healthier then the ones who don’t. They are doing several things at the same time. They are preserving their income as well as preserving their health.

So, many of the financial experts ended up being wrong about wealth creation but the seniors benefited from the extended work to offset their loss. What is the moral, slow down but don’t quit.

I don’t know why Bill Murray is still working but I would guess he still loves it and will continue till he can’t. He is an inspiration to Seniors as well as many high profile people still working. Look at out current United States President, Donald Trump, he is 70 years old and still going like he was 50.

Keep moving don’t quit!


3 Ways To Not Outlive Your Money

One of the biggest problems that people will face as they age is outliving their money. Making sure that you understand why this will happen is important in planning for your future.

“A good financial plan will make sure all the unknown variables are taken into consideration.”

There are a few major problems that you will want to avoid when planning for your financial future and having a good understanding of them is critical to living a life of joy in your retirement years.

Here we will give you the terms for you to look them up and learn how they will impact your future. We will give you a brief understanding of the terms which will enable you to better your search.

These are what to look out for:

  • Inflation– this is a problem that plagues everyone with the only way to off set it is to have an inflation proof account that rises with inflation. Many pensions or IRA-401k don’t grow based on inflation. Most bank accounts will not grow as inflation grows, so you must have a way to get your wealth to rise equal to or better than inflation.
  • Lost Opportunity Cost– this is a term that pinpoints the actual loss that is incurred based on spending or buying. So when you spend money and get nothing in return you create a loss. Against that loss what could you have earned if you had put that money in the bank. The loss of interest growth is the lost opportunity that you incurred on the money.
  • Planned Obsolescence– another term is products designed to break down and be replaced. For example, the last thing you want in your retirement years is to have to repair or replace your new roof. Any time you incur an expensive replacement item which causes you to spend money out of your fixed income you create a planned obsolescence cost. Dove tail this with Lost Opportunity Cost and voila you just hit the mother load of losses.

All of the above cost can be offset with a good financial expert but you will want to make sure they understand the Leap process first. These financial professionals are educated to understand the macro economic picture of your wealth.