In no particular order, here’s a few artifacts that I encountered recently that I found interesting and wanted to share.
Why Retiring in America has become less appealing (Angela Moore, MarketWatch.com)
I am a big numbers guy, and this article has lots of numbers and charts and statistics. All of which describe the situation in the US: people are living longer and this forces us to change to way we are doing things. With half of all people born TODAY expected to live past age 100, that means the retirement age of 65 would require this generation to have income last for 35+ years after they retire! Are people going to rely on an inheritance, rely on government, or do it themselves? It’s crucial to have a plan in place, and this is what I love creating for people. The financial landscape is constantly changing and we have to be prepared in order to be successful. And hopefully not outlive our money!
Health Savings Accounts: An Underutilized Opportunity in a Time of Uncertain Healthcare Changes (Dickinson Wright, JDSupra.com)
My hunches are validated when I read articles such as this one, which discussed the underutilization of Health Savings Accounts (HSA) accounts in our society. I personally contribute to one – and bring it up in every client discussion – but it’s largely a missed opportunity by most. Not everyone qualifies for one but if the ability and means to contribute to an HSA are available, I usually encourage it. It has similar characteristics to a Roth IRA or a 529 plan, which I love as well.
Life is Easier When you are Liked (Harvey Mackay, Star Tribune)
My self-improvement takeaway this month came from a podcast I listened to which interviewed Rohit Bhargava, author of Likeonomics: The Unexpected Truth Behind Earning Trust, Influencing Behavior and Inspiring Action. The podcast intrigued me to search for more, and Mackay does an excellent job summarizing the key points, including “Don’t confuse likability with niceness. Nice people will try to make you feel better and protect your feelings, but likable people tell the truth.” I love the messages here, and have always strived to be more likable. In fact I have observed likable people over the years and strived to acquire a similar mindset (a continuous work in progress)! I added Bhargava’s book to my list and look forward to reading it, in the meantime this article provides a nice teaser.