In yesterday’s post I said that the book, “Why We Want You To Be Rich,” by Donald Trump and Robert Kiyosaki is mind-opening. Today I’m adding that it is thought provoking…troubling even.
On page 60, in chapter four, Robert Kiyosaki says, “By living longer, we may expect to extend our working years by retiring later, but what if we live longer and are not able to continue working?” When you think about it, this can be a definite problem.
My dad retired from Spreckles Sugar company years ago. In fact the factory in which he worked was imploded and the site is now a shopping complex. But when dad retired, he didn’t retire. He and my mom went to work for a property management company. They could not afford to retire, but they wanted to work together and this was their best solution. Fact is, my dad worked until he died. However, he did not die all that old because his health was not good. His generation smoked a lot. His generation didn’t jog or eat health foods.
However, my generation, the Baby Boomers [I’m actually a younger boomer, not yet of retirement age] – and there are millions of us – are going to have longer lifespans than our parents. But will we be healthier?
I know people in their 40’s and 50’s, even 60’s who are starting either new careers or becoming business owners. Retirement isn’t something many can afford to do. But, if your health isn’t optimized, how will you continue to work, to build your business as you age? If the middle class is shrinking, as Mr.’s Trump and Kiyosaki posit, and we’re all stuck in it, we’re either going to join the ranks of the rich, or the ranks of the growing poor. If we’re too ill to work, to build wealth, then we will join the poor. Their book asks the question: is that where you want to be?
Donald Trump says on page 68, “Problem solving is made much easier if you think of problems as challenges. You might as well view them that way, since problems are a part of life.”
So, the problem of living longer and figuring out how to join the ranks of the rich – or put differently, how not to be poor…should be viewed as a challenge.
Since my perspective is as a home-based business person, I see this challenge as:
1. Optimizing my health so that ill health in old age will not be a specter
2. Building my business from a small one to a big one, financially, so that I can join the ranks of the rich. Why?
a. In this context: if indeed Medicare and Social Security are phantoms [because they will be worthless in the not too far future] the reality will be that I, as an old, ill person, will have to fund my own health care and long-term care
b. So that I don’t join the ranks of the poor and find myself and my family not able to afford basic survival: gasoline, food and shelter
c. I have no intention of retiring; there is much a big business income can do to both help my family and the causes in the world
What are your challenges and do you really see retirement in your future?