I am considering starting a new Friday Feature here at Midlife Money Tree.
Friday Financial Freak Out!
It seems like almost every day I find some crazy, unbelievable depressing article about the condition of retirement finances. I wish I found articles that are encouraging and positive, but apparently those do not make the headlines, or they simply don’t exist. Hard to say which one it might be.
I don’t want to die broke, do you?
No one wants to fail at finances, just like no one really wants to eat dog food during their retirement. Absolutely no one wants to die broke either. Possibly the misfortune of others might help us conquer careless financial habits and conquer the voice in our heads that wants to buy “all the shiny things.”
You might disagree with some of the conditions that are used to define broke in this article. Namely if a person dies with less than $10,000 in savings they are considered “broke.” Adding housing assets into the picture does shift things a bit toward the good, and yet the statistcs show that over half of the households in the study has no housing equity left when they died.
This is not to judge, condemn or mock those who are struggling with their finances. It is simply to help us stay connected to the reality that financial intelligence is a critical, crucial skill that must be practiced on a daily basis.
It is my hope that thru education and honesty the FI community can positively impact the financial outcome of our readers and their families. I am certain that you have heard the following quote:
If you can’t be a good example, then you will just have to be a horrible warning. ~ Catherine Aird
Please feel free to comment with thoughts or ideas on how this frightening trend can be reversed in our country.
Happy Friday ya’ll!