March 30, 2006
If you are 30 with no retirement savings, you will be better off if you smoke a pack a day rather than saving this money for retirement.
See, for about $3 a day, you can knock 10 years off of your needed savings in retirement. If you want to retire at 65 and plan to live until 80, you've got to save a lot. But if you smoke, you'll knock 10 years off of your life, and you only have to save for 5 years of retirement - because you can plan to die at 70.
It ends up being a better deal. Run the numbers and see what you get. Financial planning is very important at this stage of life. When I ran the numbers I did not account for Social Security income or medicare, but you should make your own decision on this.
Posted by Mello at 11:05 AM | Comments (1) | TrackBack
March 09, 2006
If things were fair, everybody would be in the highest quantile for income, and I am going to keep whining until everyone is there.
And everyone should be a doctor too.
Posted by Mello at 05:14 PM | Comments (0) | TrackBack