Back in 1997 when this was published, the author was a colleague of Mark Levine and a frequent commentator in the financial media.
The book presents a four part philosophy of retirement preparation.
- Quit Today - Mentally separate yourself from your employer and realize that you are on your own. Live like a free agent. Always be on the lookout for your next opportunity. Employer loyalty is rare.
- Pay Cash - Do not accumulate debt. Do not reach beyond your grasp.
- Don't Retire - Retirement in the classic sense is not worth striving for. Work for as long as you can. (Social Security is shrinking, private pensions are vanishing and real estate is barely keeping pace with inflation!)
- Die Broke - "Inheritance" no longer makes sense. It can be counter-productive to the well being of one's "heirs". Give your wealth to your children and grandchildren now or the near future when they need it most. (See tax free gifting - page 181.)
Thoughts?
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