Little Fredericksburg Virginia

Sunday, October 11, 2020

Article Summary from MarketWatch- Opinion: Half of Americans over 55 may retire poor

Article Summary from MarketWatch- Opinion: Half of Americans over 55 may retire poor

Article Key Points:

· Over half of Americans over 55 may retire in poverty

· Poverty is defined as having to live on less than $20,000 a year.

Reasons:

· Loss of job due to COVID and an inability to get it back; many job losses are permanent

· No employer contributions to 401K's

· Inability to save due to the impacts of job loss and having to tap into savings to survive

· Most vulnerable population are those who lose their jobs in their 50s, and unable to access Social Security or Medicare benefits

Mitigation Strategies mentioned:

· Create a six-month emergency fund

· Make full contributions to 401K, even if you do not get a match

References:

· Teresa Ghilarducci, expert on retirement, of The New School based in New York

o For additional information from your local library or Amazon; here are some of Ms Ghilarducci's books

§ https://amzn.to/3dpxLWP ; Rescuing Retirement: A Plan to Guarantee Retirement Security for All Americans (Columbia Business School Publishing) Hardcover – Illustrated, January 23, 2018

§ https://amzn.to/36VJ1c8 ; How to Retire with Enough Money: And How to Know What Enough Is

· https://www.marketwatch.com/story/half-of-americans-over-55-may-retire-poor-2020-10-01

Date of Post: 11Oct20

Saturday, August 22, 2020

The Batman Effect and Alter Egos - A Self-Improvement Article Summary

Article discusses the benefits of creating and leveraging alter-egos to get through self-limiting beliefs and self-defeating actions. This article is not only thinking about role models, but living through them.

Alter-egos serve as mental models/heuristics to overcome deeply embedded emotional and psychological blockages undermining our way to personal achievement. You goal is to transform yourself into the higher achiever you want to be. Be your own superhero.

The byproduct of this approach can mitigate stress/anxiety by keeping you focused on the strategic vision, self-control and objectivity.

Examples:

- Batman - Pretending you have the inner strength, confidence, character, logic and creativity of Batman

- Jesus Christ - Pretending you are Jesus when interacting with human kind with compassion despite being treated poorly- maintaining the high ground

- Bodybuilder/Athlete - Focus eating healthy, taking care of your mental, spirtual and physical health

- Saints - religious saints; there are saints of soldiers, craftsman, sailors, etc. They help religious followers who follow similar paths get through adversity.

Source: Robson, David. The ‘Batman Effect’: How having an alter ego empowers you. 17Aug20. https://www.bbc.com/worklife/article/20200817-the-batman-effect-how-having-an-alter-ego-empowers-you

Updated: 22Aug20

Sunday, July 19, 2020

Consistency is Power

Consistency is like water;

The impacts of one lone drop of water into the ground may disappear, but it resonates.

Over time, lots of drips equals puddles; puddles lead to rivers; rivers lead to oceans.

Performing a small act consistently leads to big impacts

A consistent investment of money, can lead to wealth

A consistent workout can lead to increased strength

Consistent study can lead to a degree

All this can lead to wealth and the generation of power and influence

We are what we consistently do, by our will, or by the will of others

Choose your path and be consistent

Friday, July 17, 2020

Why We Don't Want to Defund Police - Mexico's Exemplar

If the US will not fund police, something else will fill the void. Here's an example of a nation with a weak police force.

A group identifying as the elite arm of the Cartel de Jalisco de Nueva Generación that is run by Nemecio Oseguera Cervantes "El Mencho". México refuses to admit it has a narco insurgency on its hands and the US doesn't want to label these types of groups as terrorist. pic.twitter.com/kM7fuCAdWr
— EDC NEWS (@EDCNEWS2) July 18, 2020