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Scatter Many Seeds

Ecc

lesiastes 11:6 Scatter your seed in the morning, and in the evening don’t be idle, because you never know which will exceed, this one or that, or whether both will be equally good.


One of the tenants of Two Young too Retire is that you need multiple streams of income to support your lifestyle once you retire. Some people approach retirement as a zero-sum game and look at their 401K or pension as the only source of income they will need with social security to retire on.


Their attitude is: I will never have more than what I am getting today. They adjust their lifestyle and though pattern to a poverty position and say things like, “I buy single ply bathroom tissue because I can’t afford anything better.” They will tell you that we can’t go out to dinner because we have no money.




This might be great for getting by except if the stock market crashes, or the company controlling your pension goes bankrupt. The Federal Government could raid your pension to help some other class of pensioners, like they did with American Axle, leaving you in poverty.


Maybe you are a member of a union and they mismanaged your pension fund and announce your pension is now one quarter of what you expected. This happened to a local union in Buffalo.


I like this quote from Ecclesiastes because it tells us that besides trusting in one seed growing and providing with a source of income, that we need to cultivate several sources. We do not know if we will need any of them, but if one fails, they provide us with a fallback.


You need to look at what else you can do. Look at the some of the classical pianist. When their compositions were no longer in demand nor was their performances requested, they switched to teaching. How about the sports players who when they are no longer able to compete, they move on to being sports broadcasters or do commercials.


What skills are you cultivating when you start your retirement? Have you developed any other ways you can earn monies. Are you becoming a speaker, and adjunct professor, consultant, have rental properties or something else?


When you retire you will probably have another 20, 30 or more years. More than likely you will outlive that pension or 401K. Don’t assume that your pension and 401K will allow you to live a life of ease without some other sources of income to supplement those items.


Come find out how other people are looking at finances and how they are dealing with this area. By being part of the 2 Young 2 Retire you will learn what their strategies are.


There are so many things you will learn that you should never run out of options. Sign up for our classes, join in the discussion and become part of our community about life after working at www.patterson2y2r.com


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