2 types of dollars in your wallet

“You have two kinds of dollars in your pocketbook. One kind of dollar belongs to you. And the other belongs to the old man you will be someday.

If you spend the old man’s dollar today, then youth is stealing from age. Today is stealing from tomorrow, strength is stealing from weakness, the present tense of life is stealing from the future tense.

It is not so bad to be old or poor. The real tragedy comes when a man is old and poor.”

~ 154 messages Paul Speicher

The math need not be complicated. Hypothetically, without considering inflation and reinvestment rates, assuming you are 30yrs of age intending to retire at 60 for 30yrs, you have to set aside 50% of your income earmarked for retirement.

Throw in inflation without investing and you will need to set aside more than 50%.

The message is simple, are you spending your old age dollars today?

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.