I didn’t mean to write posts two weeks in a row which were inspired by articles, but I’ve been reading a lot of pieces I’d love to discuss with you. The latest is this one, from the Wall Street Journal, about a baby boomer who had less than $15 in her bank account, and retirement looming ahead (by the way, if you find yourself behind the paywall, you can try this and click on one of the top results which should give you access to the article).
As a quick summary, the piece shares the story of a retiree who when times were flush, spent on luxuries including an $18,000 golf course membership, BMW roadster, Mercedes, fur coats and LV bags. Then, at one point as her savings and accounts dwindled, she had less than $15 in her bank account.
What I liked about this piece in particular was that it painted a fair picture of the subject, who came across better than you might think in a piece like this. She was honest about how she got into her predicament “I was just playing at being a rich person, I wasn’t rich,” and by the end she had made the decision to move to Iowa, to take responsibility for a sustainable retirement solution. I thought that was incredibly admirable and brave, especially as a single woman with no family living nearby. Continue Reading