Let me ask you this simple question "Do the poor, needy and destitute need your time or your money more?"
The answer is obvious right? Best way to help this group of people is through creating and giving them jobs. If you cannot create jobs for them, the next best thing is to give them money - NOT your time. They cannot fill their stomach with your TIME.
Jobs give people dignity, hope and pride. When people spend, they create demand for goods and services and this creates jobs.
When you retire early, and start cutting back on your expenses, you are reducing demand for goods and services, which in turn destroy jobs.
When you dont plan properly or plan only for basic survival, you have a much higher chance of running of money before you die or you will become one of the needy, poor and destitute. Then you will have a lot of TIME but no money.
Quote:
Originally Posted by Unregistered
You think too much for your children, even spoiling and pampering them. We don't have to bequeath so much for our children, they will not have the motivation to strive hard on their own merit. This is the problem in our society. Parents are over protective and spoiling their children. They don't acquire the drive to work hard on their own. Some parents buy for their children new car, new condo, branded bags, etc. They become spoilt.
I grew up from a low income family. I strived hard to be where I am today. I want my children to have the same drive and passion. I will give them a good education and it is up to them to achieve success in life. I will not leave them much, just my condo unit where I'm staying in after I die. My retirement plan do include drawing down on my savings and investments. That is planned. With proper planning, I don't have to retire only in my 60s. I can do it earlier.
I don't want to follow the foot steps of those who over accumulate wealth and die even before they retire.
What's the biggest gift we all have? Time. I don't want to over trade my time for money. I rather use my time towards doing charitable deeds to help the poor, needy, orphans and destitutes.
I do respect you as an old man, but I don't respect your rigid views. Have a good day, old man.
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