Welcome to the round-up!
Below are the posts we read, found interesting and loved this week in for a variety of reasons. Some of them were the MOST SHARED posts in retirement for the week. We think you’ll like them too.
The most shared posts in retirement last week.
People are worried that Trump will roll back a rule meant to protect Americans’ retirement money from Wall Street
This is horrible news—see our John Oliver video from last week.
Most people are not competent enough to find all of these fees. The industry is shamefully protecting bad actors and incompetent advice when greater transparency is the trend for decades. This has been my personal quest. Hopefully, special interests will be toppled in favor of the individual investor.
From the article: “I helped open the door for Wall Street to make even more money than they were already making,” Benna told The Wall Street Journal. “That is one thing I do regret.”
From the article: “The number of older Americans with outstanding student debt has quadrupled.”
This is this decade’s mortgage problem that’s only getting worse. Government loans carry a >5% rate while the government borrows much cheaper than that, before accounting for losses. Worst case is an income driven solution, but it’s hard to see how this will help older borrowers with a social security check of $1500-$2000. This problem will be forced to resolution by younger folks who can’t possibly repay. It seems the new Administration is attuned to this problem, but don’t hold your breath.
What Frustrated Us
From the article: “The “comp” (compensation) figure can dictate which car bankers will be driving for the next 12 months, the holidays they’ll be having, even what school the children will be attending.”
It’s 2017 and nothing’s changed here folks. 2008 was a foreshock. Don’t be fooled. If there is a silver lining here it ’s only a temporary blip up in a long down-trend.
What Inspired Us
“Never, never, never give up.”
Unstoppable is Jon Morrow’s newest blogging endeavour. To say Jon is a successful entrepreneur and an inspirational human is an understatement on both counts. This is the most compelling read of 2017 so far.
From the article:
“In other words… yes, I was terrified, but a sad, quiet little death in a nursing home terrified me more. I consciously and deliberately harnessed that fear, using it to propel me to do things everyone thought were insane.
And that’s how courage works. The people we think of as heroes don’t have a mystical ability to transcend fear. To them, the alternative to taking action is simply unacceptable. They do what needs to be done, not because they want to, but because they feel there is no other choice.”“
Well done Jon! You are an inspiration to everyone with self-doubt and second thoughts. Thank you for writing this!
Worth the Mention
Why baby boomers as entrepreneurs, rock!– Boomer Cafe
Check out our post on the same subject! Do You Have What It Takes To Be A Late-career Entrepreneur?
Achieving Financial Freedom is Like Building Your Super Bowl Winning Team– Football Analogy! Guest post by Leo T. Ly.
Well said! I firmly believe in the offensive side of the ball with some great special team play. Defense only can limit opponents points but rarely put up many of their own.
Upside is limitless while downside protection is finite. Play conservative offense and keep trying to score!
Check out our post on the same subject! The Best Way To Attack Debt and Tackle Financial Freedom
Retirement Planning Basics– Power Over Life
Jacob Merkely is a good young blogger with a thoughtful and comprehensive retirement planning guide to start 2017.
Join the discussion below in the comments. Enjoy your week!
Ian Bond- My Retirement Rehab