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Wednesday, November 09, 2005

Scott Burns on Retirement

I definitely disagree with Scott Burns on politics (especially his views on Social Security), but the man does write a great financial column:

Work, Part 2: Men need to pay more attention to women. They're a lot more adaptable than we are.

My wife retired this year, kind of, and she is as happy as I've ever seen her. She works for good causes and is useful. But the money meter is no longer running.

The weaker sex (men, if there was any doubt) would live longer if we could only see life as a cooperative festival rather than a competitive struggle.

Work, play and opportunity cost: The greatest dilemma of continuing to work is fairly subtle, something you don't think about at 30: Every hour spent working is an hour lost to play.

Money: In the big picture, it is less important, not more important.

Some will criticize this statement, noting that it's easy to say money isn't important when you have plenty of it.

But one of the true blessings of being older is that objects don't mean much. Friends do. Objects cost money. Friendship is free. It comes from the unlimited currency of the heart

Investing: But 40 years of investing has taught me that rented brains seldom help us build our nest eggs. Rented brains feel a deep spiritual need to build 20,000-square-foot log cabins in Jackson Hole with the return on our money.

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