Firm Grip on an Empty Bag?

Why Retirement will be a dreadful place for many people

Robb Hill, a financial adviser for 18 years has observed that far too many people trade challenge for ease especially in our “give it to me now” society. The “give it to me now” mentality grew out of “Industry.” Boston merchant Edward Filene continued “Being perfected to a point which made it absolutely necessary for the masses to spend their money freely and to unlearn their previous habits of thrift. Buy instead of save, consume instead of work, go into debt, live for today, not tomorrow.”

Amazing how much you learn from the past. Too many people are stuck in today and give no thought for tomorrow. This is a critical error. If you live paycheck to paycheck, you are a disaster waiting to happen. You must take control!!



It has been through years of trial and error that I have learned to learn those things that I did not know about myself. We all have a wonderful tool called our “mind” that when used properly will produce for us a life worth living; or through our own neglect will destroy us.

Dissatisfaction is a creative force. This is the mindset that has allowed me to rise above my circumstances and create the life that I want. I cannot tell you what your purpose is, nor can I tell you how long it will take to find it. I can tell you this; never negotiate the price of success. It is my belief that success is all encompassing; you cannot be successful in one area of life and not be successful in all areas of life.

Many times I have read about “balance”. To me balance is learning to do what needs to be done, when it needs to be done. This may seem ambiguous so I will attempt to clarify. I believe that when I am at work, my focus is on my work. When I am home, my focus is on my family. Wherever I am that is where my focus is. For me this view has made a big difference and has become my definition of balance.

There is a price that must be paid, you can choose to pay the price of success or by default; you will pay the price of failure. Choice my friend is the difference between success and failure. Understand that your life right now is the sum total of all of the choices you have made to this point. If you are not where you want to be, change your choices!

You, my friend have talents and abilities that will allow you to do more with your life than you may believe possible. Develop yourself through reading positive books, seek and associate with those that share your desire for achievement and never stop pursuing your dreams!

This is too true to be funny

The next time you hear a
politician use the
Word ‘billion’ in a casual
manner, think about
Whether you want the
‘politicians’ spending
YOUR tax money.

A billion is a difficult
number to comprehend,
But one advertising agency
did a good job of
Putting that figure into some
perspective in
One of it’s releases.

A billion seconds ago it was

A billion minutes ago Jesus
was alive.

A billion hours ago our
ancestors were
Living in the Stone Age.

A billion days ago no-one
walked on the earth on two

A billion dollars ago was
8 hours and 20 minutes,
At the rate our government
Is spending it.

While this thought is still
fresh in our brain…
let’s take a look at New
It’s amazing what you can
learn with some simple

Louisiana Senator,
Mary Landrieu (D)
had the nerve to ask Congress for
to rebuild New Orleans.
Interesting number…
What does it mean?

Well … If you are one of the
484,674 residents of New
(every man, woman, and
you each get $516,528.

Or… If you have one of the
188,251 homes in
New Orleans, your home
gets $1,329,787.

Or… If you are a family of
Your family gets $2,066,012.

Washington, D. C

Are all your calculators

Now we’re talking “Trillions?”

Firm Grip on an EMPTY BAG!

People, mostly union and retired city workers, protest in front of the U.S. Courthouse where Detroit's bankruptcy eligibility trial began this morning October 23, 2013 in Detroit, Michigan.

Getty Images
People, mostly union and retired city workers, protest in front of the U.S. Courthouse where Detroit’s bankruptcy eligibility trial began this morning October 23, 2013 in Detroit, Michigan.
Weak investment performance and insufficient contributions will cause total unfunded liabilities for U.S. state public pensions to balloon by 40 percent to $1.75 trillion through fiscal 2017, Moody’s Investors Service said in a report on Thursday.The report comes amid increasing concern over America’s ability to pay promised retirement benefits to public employees without draining state budgets.It has been a tough year for the funds, which earned a median 0.52 percent on investments in fiscal 2016 versus their average assumed return rate of 7.5 percent, Moody’s said.

In fiscal 2015, aggregate adjusted net pension liabilities stood at $1.25 trillion.Half of U.S. states did not put enough money into their retirement systems in 2015 to curb the growth of unfunded liabilities. That held true even when states met the contribution levels their actuaries told them were necessary, Moody’s found.The nation’s 100 largest public pensions were funded just below 70 percent as of June 30, according to a separate study on Thursday by consulting firm Milliman. That study found investment returns to be 1.31 percent and a funding deficit of $1.38 trillion.Yet well-known problem spots – Illinois, New Jersey, Connecticut and Kentucky – are atypical, according to the Center for Retirement Research at Boston College.Even when including debt and retiree healthcare costs, “the outlook at the state and local level is extremely heterogeneous,” the researchers wrote in a brief this week. “A small minority face dire circumstances, but many jurisdictions appear to have their costs under control.”


By most measures Illinois ranks worst, with unfunded liabilities of nearly $193 billion in 2015 according to Moody’s. Other measures put the number at $111 billion.

“We cannot invest our way out of this hole,” said Richard Ingram, executive director of the Teachers’ Retirement System of Illinois, at a New America Alliance event in New York on Thursday.

He blamed underfunding on “political failures” and a “lack of discipline,” noting that the state never met its full annual contribution in seven decades.

Though the fund only recently lowered its assumed rate of return to 7 percent, it could drop the rate again to 6 percent this spring, he said.

“The last couple years have been bad,” he said of investment returns. “You’re going to see a slide” in funded status.



Stay the Course

I wrote this to myself and decided to share it.

Stay the Course

You must have a direction, a goal worthy to pursue

In seeking direction, you will find what to do

On a daily basis, to be better everyday

It is not perfection to seek, but growth along the way

The journey is long, and you cannot cheat

It is sometimes bitter, other times it is sweet

As you forge ahead, though weary you may be

Stay focused on your goal, and not what you now see

You are making progress, though it is not clear

It is action my friend, that overcomes the fear

The fear of failure is what stifles most

With a victim mentality, through life they coast

Not making life better, things tend to get worse

Avoid the victim mentality, for this is a curse

Decide what you want, what it is you desire

Stay focused on this and you will not tire

Do what you can, and continue to move

The actions you’ve taken, one day will prove

That worthy you are, of the goal achieved

The deciding factor is that you believed

In yourself enough to keep on going

Seeds of wisdom in your mind, you must keep sowing

Moment by moment and little by little

Success and failure look the same in the middle

One day you’ll look back and say with a smile

Tough journey my friend, but well worth the while


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