Don't forget the possibility that you may die BEFORE you retire

Gentle Reader,

This is contrary to most of the popular advice out there that says you should save as much as possible for retirement.

The fact is that a good number of people won't make it, or will die shortly after they retire.

How many? What are your odds? Good questions. I can tell you this. I am 40 years old and of the 12 people who stood up at our wedding, 2 are already dead (both from car accidents).

That is a one in six chance. We have been more unlucky than most. However, I can also tell you this: over 40,000 Americans are going to die this year from car accidents.

Money and success only go so far, and not very far at all when you are in a pine box six feet underground.

When you reach 40, your odds of dying each year are somewhere around 1 in 1000, I believe.
So over a period of 20 years, assuming that the odds don't go up, you have a 1 in 50 chance of dying between the ages of 40 and 60.

My faulty math means that your odds are probably more like 1 in 25 because the older you get the more likely you are to die in any given year.

"Buford, you old fool, what is your point?" you are probably asking by now, and I apologize for being long-winded.

My friends, my point is this: You had damn well make the most of your life and enjoy it while you have it. Or, as I am told the Bulgarians say, "You better wear your new clothes".

Sure, put some money away for retirement. More importantly, perhaps, make sure you have 6 months or more of expenses put away in case you lose your job.

However, I advise against putting EVERYTHING away for retirement. The sad fact is, many of us just won't make it that far. Which brings us to today's quote:

"Life moves fast. If you don't take the time to look around once in a while, you might just miss it."
-Ferris Bueller

On that note, I will end this entry, but rest assured that I remain,

Your friend,

Buford Twain