If you knew you were going to live to 100, what would you do differently today?
In my last blog post, I introduced this question and provided some reflections from the 2018 AARP Disrupt Aging: The Implications of Living 100 Forum. As promised, this week I’m going to share tips from some of the experts who spoke about changing the way we earn and learn.
Changing the Way We Earn
“The only time I hear people talk about God and money is when they say ‘God, I wish I had more money’,” said Suze Orman, The World’s Personal Finance Expert.
According to Employee Benefit Research Institute 2016 stats, 41% of American households headed by people 55-64 have no retirement assets.
Maybe that’s why Suze hit hard on the importance of saving for old age: “At 25, if you put away $100 a month until 65, you can have $1 million at 65. If you start at 35 versus 25, you will net only $300,000 at 65.” At the same time she was adamant about paying down debt, especially credit card debt which has high interest rates.
“Money alone will never make you happy. But lack of money will make you miserable,” said Suze. Seeing her parents struggle financially made her want to become monetarily successful and help others become fiscally fit too. After working really hard and making lots of money, she retired two years ago at 65 and moved to a private island in the Bahamas. Sounds pretty successful to me? Continue reading