“Save your money for retirement.” This is what you are taught by your parents and be the cadre of financial experts on CNBC , the Wall Street Journal and the multitude of financial talking heads and market bulls. So, when you graduate from college and get that first real job, you put away that initial monthly contribution…you feel that you have just started your journey to financial freedom one day.
The concept of retirement was a 20th century luxury. With 401(k)s and IRAs being destroyed, the greatest Ponzi Scheme of them all, Social Security will be gone in a decade and with pension funds seriously underwater…we will be forced to be door greeters at WalMart and eat cat food until we die unless we force fundamental changes in our lives…in the way we spend, in the way we save and in the way we invest our money.
We need to emphasize investing money in OURSELVES. I guess the best way to do that is to drive the creation of small businesses, encourage more entrepreneurs. Yes, entrepreneurial ventures are traditionally very risky…but at least we have more control over our fates…we have no one to blame but ourselves if we fail…and we can bask in the glory at our successes.
Maybe I should have put money money towards that car wash business with my first paycheck!
Filed under: Economics
