With the extra revenue, you can buy a bigger boat." You can then sell the extra fish you catch. "Now listen," the tourist interrupted, "I have an MBA from Harvard and I can help you! You should start by fishing longer every day. In the evenings, I go into the village to see my friends, have a few drinks, play the guitar, and sing a few songs. "I sleep late, fish a little, play with my children, and take a siesta with my wife. "But what do you do with the rest of your time?" The Mexican explained that his small catch was sufficient to meet his needs and those of his family. "But then, why didn't you stay out longer and catch more?" asked the tourist. A tourist complimented the Mexican fisherman on the quality of his fish and asked how long it took him to catch them. Moral of the story? Read this:Ī boat docked in a tiny Mexican village. He fished, and did odd carpentry work, and most everything he wanted to do-for three decades-until he died so prematurely.
He built a 42 foot boat on his property, launched it a half mile from his home, moved his family to it, and sailed it to BC’s North Gulf Islands, where lived rent free moored in quiet inlets. He was one of those rare people who quit his well-paying job and promising career to live his dream at age 28. He was robust and active, and ate well too. My brother Al was a non-drinker and non-smoker. He fell into a coma and died months after that. Encroaching Alzeheimer’s? No, an inoperable brain tumour. He retired at 55 and then became extremely forgetful some 3 months later. Cousin Pete was similarly strong and slim. He died of cancer of the bone marrow at 50. Trouble is, there are no guarantees of healthy longevity.Ĭases in point: My friend Bob was svelt and fit, ran 5 miles a day at the Y, skied and biked. Or at least, that is the assumption that we are induced to make by the dour puritanical certainties that the industry hawks. Of course, at 55 you will feel the same vigor and good health you did at 25, and will be guaranteed to feel that way for another 30 years. Sounds like a good deal, eh? Sacrifice your youth and happiness so as to reap the rewards of delayed gratification. You would have all the toys and the money finally enjoy living.
For decades they have promoted the fraud of “Freedom 55”-the notion that if you work hard and persistently at the job you hate, save and invest your money, on your 55th birthday you can “retire” to live as you have dreamed of living. One of the many benefits of this recession is the deafening silence that I hear from the financial planning industry.