The following was written in 1990 by Michael Thomas for an essay titled "The Money Game."
In such conditions time itself breaks up into discrete parts. An enterprise that may have sunk its roots in commerce and community over a century can be disassembled by a takeover artist in a matter of weeks. Continuum means nothing. Relationships mean nothing. The modern financier lives and dies by the transaction. Each day is wholly new, the wheel subject to endless reinvention. There is no need for coherence because there is no advantage for coherence Action is all , , , Critical judgment is neutered by celebrity, censure collapses in the face of success."
The end of the year just past brought forth a number of ways by which Americans could save for their retirement. Commercials and advertisements for this task flooded the various media. People were advised to 'have a plan.'
They were told to decide if they wanted to maintain the life style they have now when they retire. Formulas were provided for determining how many millions of dollars one would need to achieve that goal.
Americans were told to think small. "Start early and put away 1% of your wages or salary."
401k's. Hedge funds. The stock market. On and on it went.
I have a suggestion, a better idea (I think) that will assist in this task.
Don't buy what you don't need. Save and invest every dollar you saved from not buying what you don't need.
You will have more money saved than you thought possible. You will definitely retire into the same life style you enjoyed throughout your life.
Royalty, long dead, did not have the wealth that average Americans earn today.
Walking through Walmart this Christmas, looking at the piles in the aisles and the stock on the shelves, I couldn't help but wonder who buys all this stuff and why? Most of what I saw I wouldn't take home if it was free.
Here is a simple rule to help you. Lord Falkland had a quote which I have admired ever since I read it. He wrote : "If it is not necessary to make a decision, it is necessary not to make a decision."
That aphorism is useful in many different situations. I alter the saying when required.
For the subject of this post, I think: "If it is not necessary to buy, it is necessary not to buy"