Thomas Slatcoff Blog

Caution! Caution!

Please do not listen to what Mr. Shapiro said about retirement. You, and only you, must set the point on your lifeline for when you will achieve financial security. You must control your destiny. 

Ben Shapiro said, “Frankly, I think retirement itself is a stupid idea unless you have some type of health problem.” (https://www.mediamatters.org/ben-shapiro/ben-shapiro-no-one-united-states-should-be-retiring-65-years-old)

Respectfully, Mr. Shapiro, I disagree. Retirement is not a stupid idea. The concept of retirement, as defined—withdrawal from one’s position or occupation or from active working life (https://www.merriam-webster.com/dictionary/retirement)—is not a stupid idea. It is about freedom. Freedom from the rat race. Freedom for someone to do what they want, when they want. The freedom to control one’s own schedule. These are not stupid ideas. These are not stupid goals.

I find it difficult to understand anyone who believes and/or advocates that people should continue working into their 70s or beyond simply because they are in good health. Working, as Ellen Goodman said, “Normal is getting dressed in the clothes that you buy for work and driving through traffic in a car that you are still paying for—in order to get to the job you need to pay for the clothes and the car, and the house you leave vacant all day so you can live in it.”(https://quotesgram.com/ellen-goodman-quotes/)

Let’s eliminate the word retirement and replace it with freedom. That is what everyone’s goal should be. It is a term that helps to create the proper money mindset. Let’s encourage people to achieve financial security as quickly as possible, so they become financially self-sufficient through their compounding savings and income-producing assets. Achieving financial security means they can leave their job and do what they want to do.

After all, Mrs. Elinor Roosevelt (the wife of the President of the United States of America, who signed the Social Security Act into law) said, “The purpose of life is to live it, taste it, experience it to the utmost, and reach out eagerly and without fear for a newer and richer experience.”

Working to age 70 and beyond does not facilitate the spirit of Mrs. Roosevelt’s quote. Following someone else’s schedule does not allow someone to “reach out eagerly and without fear for a newer and richer experience.” But financial freedom does. 

Discard the self-serving federal government-imposed retirement age and its deceptive rhetoric about retirement. The federal government still uses the age of 65, for social security full retirement age, an age established in 1916 which, at that time, was designed for workers in Germany. And worse, the federal government continues to raise that number for its own benefit, with the sliding scale imposed by the 1983 legislation. And federal legislation dictates the policy for retirement accounts, such as 401(k) and Roth-style accounts. Two examples are: the yearly limits on deposits and a self-serving federal government-imposed age that dictates a mandatory withdrawal. The federal government’s philosophy on retirement stifles We the People. They still use the antiquated term social security. A term that insinuates We the People cannot handle our finances. A term that is detrimental to a proper money mindset. Detrimental to one’s freedom.

It does not have to be that way. Well, we must obey the laws. But, We the People can tell ourselves what we want to achieve. Within the framework of the laws, you can achieve financial security on the date you set for yourself on your lifeline People, you are more resilient than you give yourself credit for. 

Financial literacy is the guiding light. Financial literacy is essential for managing your money effectively. You first must acquire the necessary knowledge to achieve your financial security. As the English philosopher, Francis Bacon said, “Knowledge is power.”

There are many challenges to achieving financial security, including dispelling the myths and misconceptions perpetuated by government entities at all levels and by businesses, so that you can develop and maintain the proper money mindset.

Without the proper knowledge, you will remain a sheep, just following what someone else says that benefits them and not you. Like the people who tell themselves they are going to retire at 65.

THE THOMAS SLATCOFF FINANCIAL LITERACY INSTITUTE

helps clients gain the necessary financial literacy.

Call or text 1.850.867.2817

Email contact@SLATCOFF.com

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