Further to yesterday's posting, it's a good idea to figure out your goals in retirement in relation to your money style.
Both spenders and savers might have great retirement plans, but need to be realistic about achieving them. If truth be told, however, money and personal self awareness and growth are an intermingled challenge. This bears greater consideration that it often gets.
We've probably all seen the bumper sticker on R.V.'s - "I'm spending my grandkids' inheritance." It is one perspective. The general line of thought is as follows.
We've worked hard for all we have. Nobody handed it to us on a silver platter. Why should we hand it to our kids and grandkids? They should work for their money, just as we did. It's a pragmatic way to look at life. Is it wise?
For folks who have no kids the idea of spending everything you've got before you die has currency. But so has thoughts of doing good works, and leaving money to other family relatives and good causes.
Too often people scrimp and save and find it hard to get out of the perspective that life is hard. Why not enjoy some of your money? It is interesting to look at psychological concepts of deserving and permission with respect to money as well.
More on this tomorrow.
M.
retirement and money
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