13 Retirement Myths

I realised the CNNMoney.com Retire Rich series will have this type of retirement (with money) articles every now and then.

Take a look at this article under CNNMoney.com Retire Rich. Personally, I totally agreed with some of the myths as mentioned:

#3 - Everyone has debt
#4 - A million dollars will cover you
#5 - Boomers will crash the market
#6 - Without a pension, you're doomed

After reading this article, I MUST have many many millions and MUST not have debt. I won't need any pension (or CPF) and even when the market crash, I can trade PUT options to win the market!

Live A Simpler Life

Many relate wealth as the ability to have a luxurious life! That's a myth, at least to me. If you make big money and you spend a big bulk of it, how can accumulate great wealth in the shortest possible time?

In actual fact, I realise a rich person normally (but but all the time) spend so much lesser and utilize what around him/her as much as possible. If he's part of the top management, he may use the company fund to get a car or go to the posh restaurant. If he buy a expensive watch (those like Cortina, The Hour Glass etc) or a luxurious apartment, he may be buying it to invest.

He only use his money to pamper his loved one (family, parents etc). He buy only the essential (apartment, and basic wants (car, TV, computers etc). He will only start' spending big money if his income is so much more than his spending.

Look at the article below from TODAY newspaper published on 12 Sep 2007.




Spend more time with your loved ones and don't be blinded by your materialistic pursuits. Save your money (so that you won't have spare cash to spend excessively). Live The Simple Life!