Stu and Steve Part I

There are two people I know personally that are showing me finance lessons that I never learned in the classroom. One is now retired, while the other has almost 20 years until retirement. I know them both but their names aren’t really important… let’s call them Stu and Steve. Today, I will introduce “Stu” .

Stu is 76 years old…has a business school education and a law degree. He is one of the kindest, honest and most generous people you will ever meet. He has worked for banks and was also a practicing real estate attorney. He has worked for himself and paid very little into social security over the years, believing that he would save on his own. He has had jobs that paid $15,000 a year when he was young to $150,000 a year in his mature years. Today, he is receiving $672.00 a month from social security. He is “living” on a very small amount and I use the term living very loosely. He doesn’t own a home and instead lives in a bachelor apartment in Los Angeles.

It’s unfortunate…but the hourglass sand has run dry for Stu. In his retired years, his focus should be on relaxing since he has spent his entire life working. Tomorrow, I will go over Steve’s story.

Wishing you wealth in all its greatest forms.