That headline says it all. I didn’t need to read the article. An entire generation is probably looking up the word “frugal” now. Or saying goodbye to retirement altogether. The subtitle, “Financial crisis forcing workers to delay their golden years,” is optimistic. For many, it’s just years, with no gold in sight. Walmart here we come. Or worse. You read the news. Financial disaster can be overwhelming.
Recently, I had to liquidate my 401k. I fought it. I held off. I hoped… Then, I faced facts and cried. My dreams, my retirement, my security, down the tubes. Today, I’m celebrating. The penalties and taxes still aren’t as bad as the market losses. A year ago, the market sat at about 14,000. Another bad day and it will be under 9,000. I’m actually lucky. I made the decision. For most, their nest eggs cracked, shriveled, and vanished without their input.
If you’re saying, “This doesn’t impact me, I’m years from retirement, the market will come back,” well, yes, it will. But think again. People don’t retire. That means higher paying jobs aren’t opening up so you can improve yourself. Which means your job stays filled and someone else remains unemployed. The impact is multi-generational. Your parents might now end up living with you. Or your kids have to move back in. Or you have to move in with one of the above.
The good new? With no lending money available, we can’t incur more debt. If we face a job loss, our monthly nut is lower. If we’re frugal, we can make it. We can survive this nightmare. We can help others weather this disaster. We can learn that what we have isn’t who we are. We can recognize that many others have it worse. If we have to keep working, we can choose to funnel our energy into something that fills our soul instead of our pocketbook. We might actually gain something that does follow us beyond the grave – satisfaction with our life. That’s glass-half-full I know, but perhaps it’s our pursuit of things that left the glass half-empty to begin with.
Now, gotta go find another way to fix Ramen noodles. Sure hope Walmart’s makeover includes something for that little-blue greeter vest…
Vote November 4th – It’s Your Money!
