Been feeling a little slow lately. But here’s some food for thought.
I was having a great conversation with one of my very good buddy’s in the business, a mortgage broker named Brian Brady. We’d been talking about what I call Grandpa Economics, which is what he calls, (I think) Boomer Economics, when he made the following observation.
“Have you ever been to a gathering of older guys at one of their community service club functions, or something like it? What you see there is the result, in group form, of Grandpa Economics. Poor guys who worked hard all their lives, achieving their goal of a free and clear home, with a small pension and some Social Security. It’s sad.”
It reminded me of a local service club meeting I attended some time in the mid-80′s. My dad was bugging me to attend one, thinking it might help bring in business. Well, I finally relented, attending one of their weekly lunch meetings. The average age, even averaging me into the numbers, was almost dead. The bulk of the conversations centered around saving money on this or that.
Besides generating a keen desire to watch paint dry, it was sad.
These guys had achieved the retirement they’d dreamed of for decades — and for most of them it turned out to be a life sentence instead.
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About BawldGuy
Balwdguy – Unfortunately much of what you say is true. Fortunately I am one of the Grandpas who did better than most. I planned for Social Security to pay for little if nothing. There are too many who worked hard and didn’t plan on living into their 80′s and 90′s. Many are still raising their children’s children. Which has eaten away at their dream even more. Ask yourself, “If their children were not of the gotta have it now generation, would they be in the predicament they are in today?”
Hey Doug – That’s the other side of the same coin, isn’t it? The kids adding, ah, taking their two cents?
Social Security is an solid part of retirement – as spending money.
Please come back Doug.
I like your idea of having SS as spending money….dinner’s out and travel money.
All travel being a write off because properties are always owned in areas where one like to travel…must check up on those PM’s.
Cher – You know you’re retired when you cash your SS check and put it all on your Starbuck’s card.
Now, that is even a BETTER idea. Which means that Starbucks become where we all hold court.
How do you like that?? I’m both a member of the ‘have it now’ generation and a grampa (long story) all at the same time.
SS is not even something I think of as spending money in the distant future… it won’t be there.
Todd – I try not to think about that.
It makes doing things on purpose now a lot more important.
Like for instance, where you should put the next commercial/retail district in Kingman.
Not to be off topic here on your blog… but there is really no other place to put that district in my town. And thanks for your excellent involvement at my blog today. Much appreciated.
Your welcome – we’ve seen that movie so many times here in San Diego, the chronology and rhetoric are almost predictable.
What wins almost every time is letting the sun shine on the dinosaurs’ weak and archaic position.
Readers – click on Todd’s name above his comment, then go to the post with ‘email’ in the title. They’re now arguing over what San Diego used to back in the day.
Great post, Jeff.
Wait until the Boomers retire. Instead of waiting around for the SS check, they’ll be moving to Mexico with hopes that they can smuggle the 401-k out of the US before they turn 70.
Thanks Brian – At least it’s a Plan, and it sounds Purposeful.