Photo by Glen Michaelsen on Unsplash.
An article in the NY Times focuses on a former WSJ financial advisor. He was all about saving for old age…and he did. He had sacrificed and deferred his gratification.
Then at 61 he got the news. He’s dying from cancer…probably within a year.
He always advised people to wait on taking Social Security. Now he won’t have any withdrawals.
The Times reporter asked if he had regrets. He says no. He’d do the same anyway.. He had freedom from money worries for many years. He has nice art on the walls. True, he could have bought a better house, but he’s satisfied. And he’s leaving a good-sized inheritance.
What this story illustrates is, you are facing a crap shoot as you get older. Yes, anyone could experiene accidental death anytime. Thirty-yea-olds die in car accidents. Stray bullets attack eighteen year olds.
But the odds grow wider as you age. At sixty, you have a greater chance of dying from a medical condition. At eighty, the odds grow even more.
For years people have been advised to plan and save as if they were going to live to be 100…and enjoy life as if you were going to die tomorrow.
I knew a couple who learned about the suddeen death of a forty-year-old friend. Their friend had a sudden unexpected brain tumor. The couple decided to sell everything and travel around the world while they could. If they’d had kids, they’d have made a different decision…maybe.
Of course you’ll have other decisions with less fatal consequences. Whenever you say, “Therewon’t always…” you’re at a crossroads.
One man asked a career counselor, “Should I take a job with a great company where it’s rare to have openings…or should I go on my own with this other opportunity?”
“You can always go off on your own,” the counselor said. “That option will always be there. But when you get older, you won’t be able to get a corporate job. Too much age discrimination and frankly, you won’t want it later.”
This article is good reminder. There won’t always be a “tomorrow” or “next year.” The promise of “It’s never too late” can be a lie; tomorrow may be too late.
And there may be a lot more “tomorrows” than you want or expect.
