There are many roads to financial stability. Find the one that works for you and your purpose in life. Make sure that the financial coach you are using whether it be David Bach, Robert Kyosaki, Suze Orman, Dave Ramsey or someone else has a lifestyle and philosophy that is close to what you want for yourself. Otherwise the advice will not jive with where you want to go in your later years. MoneyMonk does a great job at defining just this point....
I was watching the "Can I afford it?" segment on The Suze Orman Show, last Friday. A caller called in, he was 68 years old. He wanted to buy his wife (of 40 years) a trip around the world that cost about $30,000 for their 40th wedding anniversary.I got a quick snap of their finances, I cannot remember his exact numbers, but I did see that the couple had no debt, some savings, and roughly about $280,000+ saved in retirement.
Suze denied him because they did not have 8 months of savings. Blah humbug!Look Suze, The man is retired!! 68 years old, not sure if they had children, but I'm sure he and his wife after 40 years of marriage went through a lot of ups and downs. Let them enjoy their lives a little.Being 68, he faces no penalty for withdrawing money from retirement. After all he wife deserves a trip after 40 years of marriage. Tomorrow is not promised. They are not sloppy with their money because they did not have any debt.What's $30,000 if they have 6 figures saved? I would have approved him, simply because being married that long is something to celebrate. I cannot imagine the look on his wife face when her husband told her they cannot afford it.
Suze, retirement is suppose to be enjoyed. This is their time. Let them have it.Suze, what ever happened to PEOPLE FIRST?
I'm a fan of the show, but I am mad at you on this one.
Folks, just be careful out there with the information you are given regarding your money. It is totally true that "No one cares for your money more than you do." However, it is also a statement that is used so much in the financial business that most folks ignore it and abdicate their financial decisions to an expert. You become the expert on YOUR money. Okay? Keep on reading, learning and investing. You'll end up wealthy as long as you keep saving and staying out of debt. Hang in there and have a great week.
Lastly, Thanks to MoneyMonk for letting me post her work. By the way, MoneyMonk and I don't agree on everything financial either, but she lives her talk and that earns major points in my book! LOL! Give her blog a look for a fresh perspective on money.