As you say, playing with the grandkids matters more than work, work, work. :-)
Even so, with Social Security bankrupt, portfolios on a roller-coaster, taxed likely to go through the roof, and soaring energy costs, the best retirement strategy I`ve seen is to own a small business.
It could be that living in Canada mitigates some of the above-mentioned conditions. I`ve been following the sub-prime mortgage situation and some of the repercussions have been felt around the world, not to mention by the thousands (or millions?) of families who have lost their homes. It`s heartbreaking.
In my opinion it was one of the worst decisions in the first place to offer this type of loan, although it must have seemed like a good idea at the time. But the worst part is that all these mortgage loans were split up and incorporated into many financial vehicles as investments, which eventually went global! Bad idea (or can I be saying this only in hindsight)! It`s one of the saddest and most far-reaching financial fiascos in many years, affecting many, many people, businesses, etc. adversely. Then, of course, there`s the war in Iraq. No need going into that.
I feel that as a resident of Canada (Ontario), even though one our favourite activites is to complain about the government, how ineffectual they are and how they are wasting the taxpayer`s money, we still have our health-care system for one . And even though we complain about that as well (like wait-times that, in some cases) are far too long, we know that if a catastrophic illness or accident occurs, we are not left to die (in most cases :-p). I believe we have a pretty good system of other social safety nets, as well.
Energy costs are rising everywhere, taxes are rising everywhere, it`s difficult to find a safe place to invest and still get a decent return. Yeah, things are in a mess, looking at the big picture, but there are little pockets of happiness, calmness and common sense prevailing everywhere with people finding alternative ways of doing things, surviving and doing well. Starting in a small community or town and keeping local economies flourishing seems to be having a positive effect on so many levels. This paradigm is catching on and spreading and I think this is going to be the way people can begin to have a better life; by supporting local businesses and each other.
I don`t know if all this make any sense or if it`s even relevant. I think I kind of got carried away there. What am I trying to say? I think it`s this: that we can look at things in many different ways, not all of them gloomy. We, all of us, have it in us to turn our lives around if we just know where and how to look.
Now I am trying to shift to a less linear and more creative (some might even say `unorthodox` - but legal) way of thinking in planning for the future and I think I will succeed!
Bathurst3585/30/2008 12:24 PM