Accounting For Bad Debt Expense On Cash Flow Statement Reinspirement Replaces Retirement – 2009

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Reinspirement Replaces Retirement – 2009

“Age doesn’t mean anything to me. I can’t get old; I’m working. I was old and out of work when I was twenty-one. You stay young as long as you’re working. Sixty-five is retirement. Ridiculous. I was sixty-five. Even then I had acne.” George Burns 1896-1996

 

One of the most disconcerting aspects of the recent 2008-2009 economic downturn is that many people who were on the horizon in their golden years have lost about 50% of their retirement portfolios. Hard-earned money in 401(k), IRA accounts, stocks and bonds, or market funds with the advice of a trusted advisor – literally gone overnight! Not only have huge sums been wiped out, but now companies affected by the recession have frozen access to employee 401(k) accounts! Who knew? (401(k)’s Hit Withdrawal Freeze – Wall Street Journal May 5, 2009)

 

If that wasn’t bad enough, those dependent on Social Security benefits got some bad news. For the first time in 30 years, they will not receive a COLA (Cost of Living Adjustment) for 2010 and 2011. Older Americans on fixed incomes who received a 5.8% COLA increase in 2009 will have a hard time keeping up with the cost of living. moving on (’10 New York Times May 2, 2009 Social Security Benefits Not Expected to Increase)

 

Yay for thinking so much your Money in the first place! Reality paints us a completely different picture.

 

Many Americans have spent the prime of their lives waiting for that magical moment when they can golf, fish, garden, and spend time with their grandchildren. While many suffered from jobs that strained them from professional responsibilities away from their families that they didn’t really care about, retirement provided the carrot to cross the finish line.

 

Unfortunately this carrot is hard to find these days as retirement as a social concept is in its sunset years. The writing has been on the wall since the 90s, with pension schemes closed or bankrupt and jobs shipped to other countries.. The 2008-09 recession has turned the retirement situation from bad to worse. Even so, the majority of Americans prefer to cross their fingers in the hope that they will make it through the retirement window before it closes forever. Lest we forget, the employer of last resort, the federal government, is dangling the carrot of a healthy-pension.

 

The good news is that an alternative already exists. REINSPIREMENT is the extreme makeover of retirement for the 21st century. A debt-based monetary system has been reborn from the ashes of an exponential loss of purchasing power. It’s an idea whose time has come. Similar to the conventional wisdom that tells us to save for retirement when we’re young, re-inspiration offers a similar journey throughout life.

 

Entering a comfortable independent life in later years requires a willingness to retool how we think about money and plan for the future. The resurrection asserts that you (with the help of friends, colleagues and professionals) can design and implement work-paths to meet current and future needs and only where you are and what you have today.

 

Lifetime cash flow is the name of the game but it doesn’t have to mean a lifetime of hard work. Part of the challenge of re-motivation is learning how to leverage your hard assets (not imaginary digital numbers on a statement) to work for you in the future. Each person’s unique talents, interests, assets and skills provide the key to unlocking and uncovering a customized recovery strategy.

 

A commitment to resurrection means you blaze a path beyond current societal expectations about when to hang up your saddle; That is when the flow of private money stops in your life. If you accept this mission, you will lead by example to provide a critically needed role model for future generations. Given the central banking system, the currency will continue to depreciate. This means young people will need more viable options than we do for their later years.

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