I should have spent more time in the office!

Yesterday I read about a woman who has an empty nest

Midwest, who made the mistake of investing in an upscale company

Four bedroom house that now has negative equity;

which means she owes more than it’s worth.

Unlike many Californians who are upside down

A hundred thousand, half a million or more, this

desperate lady regrets her extravagance because

She has to sell with a cash loss of $5,000.

I have read this and although my condolences go out to all

People who base their purchases on perception

Real estate prices are only going up, I thought, “Heck, she is

only sweat five thousand dollars?”

But $5,000 is a big part of her retirement

fund.

How can that be?

Like my recently retired employer in the

Financial industry that received twelve million

Dollar payout, not everyone has

six-digit and seven-digit pads to fall back on

if their other investments fall through?

In a word: no.

And Social Security, that system that so many are predicting

will fail one day, this agency will not make up for it

shortfall?

When you reach AARP age, 50 years or older, the Social

Security Administration will send you annual forms

Reclaim your accumulated contributions to the Fund.

Based on these numbers, the notification tells you how

You get little if you retire at 62 or later.

It is shocking.

A baby boomer who started paying into Social Security

when he was in his mid-teens and contributing

Every year since then I’ve been able to retire at 62 and get that

Grand total of $986 per month. That might be enough

pay for his utilities and insurance.

How should the rest of the nut be cracked?

The simple answer is: work until you drop.

Investment companies spend millions to advertise them

concept that we should save a lot for retirement,

Start early, and even if we’re late to the game,

we can catch up and still accumulate a nest egg

Time.

Simple math suggests this is partially true.

“Save early” is good advice, but catch up

may lead a leisure life on the golf course or

Quilting just doesn’t seem feasible.

The other day I got a power of attorney from the car

Association that wants to increase the compulsory pension

age of the board of directors to 73 and 76 years respectively. My

The first reaction was to dismiss this appeal for me

Support.

I’m reconsidering and appreciate the fact that these

Seniors may need the extra income.

In much of the wildly optimistic, goofy New Age

literature, you can still see the once funny saying

On your deathbed, the last words you utter will NOT

be:

“Gosh, I wish I’d spent more time in the office!”

Tell that to the desperate Midwestern homeowner, I

already mentioned, and millions of her

Contemporaries standing in front of the prospect

struggling to stay in or get back into the world

Workplace.

Somehow I feel that I won’t stay in work for long

enough is exactly what many will lament.