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Old Yesterday, 08:02 AM
 
14,636 posts, read 7,875,096 times
Reputation: 26797

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Quote:
Originally Posted by cebuan View Post

Why would the captains of industry pay most of them several million dollars, without realizing they didn't generate any wealth? Explain your uniquer economic theory.

I realize you're being purposefully obtuse because that's how you interact with the forum but I'll respond anyways.


50th percentile household net worth for age 60 to 64 is $225K and that includes home equity. In the Fisher Investments context of this thread, that 50th percentile couple isn't going to retire and live the good life. They worked their whole adult lives and didn't generate any wealth beyond some home equity and a bit of retirement savings.


Quote:
"Spend time defining who you are. You get to decide who you are after you retire. When you were working, your company, position & coworkers limited your self-definition. View retirement an opportunity to think through who you want to be."

You only get to decide if you're affluent enough to make choices. If retirement means you're living near poverty level, you don't have a heck of a lot of choices. Generally, you keep working if someone will hire you.
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Old Yesterday, 08:03 AM
 
Location: Land of the Great Bears
3,716 posts, read 2,056,052 times
Reputation: 4197
Quote:
Originally Posted by FREE866 View Post
Exactly!


It's almost like people took offense to the quote.
If they did, it's understandable.

Not everyone subscribes to the idea that their self definition is limited by their job, or waits until retirement to think through "who they want to be."

So, they may resent the implications. But if it helps anyone then it's useful!
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Old Yesterday, 08:04 AM
 
Location: SoCal
14,235 posts, read 6,836,046 times
Reputation: 11012
We are people, so we are different. There is no one size fits all. I haven’t done a single volunteer gig since I retired. I do the same thing I did before I retired. Meaningful work, raising those young kids to adulthood. That’s good enough for me. As far as activities, I make sure I do some exercises, something artistic, when I was younger it was ceramics, now painting and drawing. I’ve always garden, now its more intense. I’ve always take classes at the local community. Virtually no life changing activity, they are just activities. The only thing that is different is my travel can be much longer than when I was working. That’s the bonus. And I can pick any date to travel no restrictions. That helps with my budget.
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Old Yesterday, 08:06 AM
 
Location: SoCal
14,235 posts, read 6,836,046 times
Reputation: 11012
Quote:
Originally Posted by Arktikos View Post
If they did, it's understandable.

Not everyone subscribes to the idea that their self definition is limited by their job, or waits until retirement to think through "who they want to be."

So, they may resent the implications. But if it helps anyone then it's useful!
Maybe they donít like Ken Fisher.
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Old Yesterday, 08:26 AM
 
Location: Indianapolis, IN
575 posts, read 856,275 times
Reputation: 400
This is true because, just one example, when you tell people "I am a police officer", you're defining yourself by your job. A better way to say it is "I perform police work".

Most people attach their self-worth by their job. It's their choice, but it's sad.
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Old Yesterday, 08:36 AM
 
3,942 posts, read 3,263,317 times
Reputation: 8474
Quote:
Originally Posted by NewbieHere View Post
Maybe they donít like Ken Fisher.
Who would have thought a post about a Ken Fisher quote would get so contentious. His other, much better quote in his TV ads about annuities that you mentioned earlier has probably done a fair job of raising people's awareness of and caution about annuities. For that I tip my hat to Ken Fisher.

Disclosure: I'm not agreeing with anything else about his management style.
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Old Yesterday, 08:55 AM
 
Location: SoCal
14,235 posts, read 6,836,046 times
Reputation: 11012
Quote:
Originally Posted by 1insider View Post
Who would have thought a post about a Ken Fisher quote would get so contentious. His other, much better quote in his TV ads about annuities that you mentioned earlier has probably done a fair job of raising people's awareness of and caution about annuities. For that I tip my hat to Ken Fisher.

Disclosure: I'm not agreeing with anything else about his management style.
He seems sleazy to me. I tip no hat to him. Ulterior motive. That and the junk mails he sends to my household that I have to dispose off regularly.
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Old Yesterday, 09:06 AM
 
Location: Tennessee
24,563 posts, read 18,285,184 times
Reputation: 28859
Quote:
Originally Posted by 1insider View Post
Who would have thought a post about a Ken Fisher quote would get so contentious. His other, much better quote in his TV ads about annuities that you mentioned earlier has probably done a fair job of raising people's awareness of and caution about annuities. For that I tip my hat to Ken Fisher.

Disclosure: I'm not agreeing with anything else about his management style.
Because the question kind of gets to the heart of folks' identities.

I can't think of many people that I know that are defined by their work. Most people I know, even the small business owners, don't hate their jobs, but it's not really "who they are."

A friend of mine owned a small country deli for many years. He sort of became known as the "tenderloin biscuit guy" locally and did a lot of socializing at/through the store, but got tired of it and sold the store a few years back. He might have been 56-57 when he sold it - pretty young. He got bored and went back to work at a high end golf course. Golf has been one of the ways he's identified himself.

I work in a standard corporate cube job. I'd hate to think that THIS is how I define myself.
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Old Yesterday, 09:28 AM
 
13,162 posts, read 14,414,147 times
Reputation: 36497
Quote:
Originally Posted by FREE866 View Post
"Spend time defining who you are. You get to decide who you are after you retire. When you were working, your company, position & coworkers limited your self-definition. View retirement an opportunity to think through who you want to be."


Breaking the umbilical cord form corporate America has been a form of a spiritual awakening!
My thought is that self-definition is a constantly changing thing.

I do think, though, that some people feel a need to try cast self-definition in concrete, to capture a final self-definition.
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Old Yesterday, 09:34 AM
 
Location: Central NY
4,912 posts, read 3,404,874 times
Reputation: 12764
My God, did I walk into the wrong room?? I was looking for an adult conversation.

It's so sad to see so many people cannot live and let live. Does everyone have to agree with what "you" said?? If they don't think what you think, are they wrong.
This is pretty disappointing. The truth does eventually come out.
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