Friday, April 13, 2018

Money and Super-Aging

Growing older sucks, especially when you don't have a lot of money. Your aging and longevity may be impacted by your spending, which has to do with the value of money, which plays a pivotal role as you continue to age. 

No matter how much money you have, make the best and the most of your remaining years; turn them into the golden years of your life in spite of any financial difficulty you may be facing, Remember, life is a task-master: it teaches you not only how to survive in any challenging circumstance but also how to live well, especially in your golden years.

The senior years are most challenging in that all seniors have to come to grips with the changes and challenges they may be facing. On the one hand, they may make them more appreciative of life as well as more proactive to live a meaningful and purposeful life; on the other hand, these challenges and problems may also make them want to give up on life, and thus drifting and deteriorating rapidly.

Money plays a major role in your retirement. You need money to retire, as well as to continue a similar lifestyle that you lead while you are working. Even if you decide to modify or simplify your lifestyle, you still need money.

Yes, money plays a pivotal role in aging and longevity, as well as how you are going to live the rest of your life. Given the importance of money, you need to know what money is all about.

With that goal in mind, you need to estimate the amount of money you need throughout the rest of your years. The amount is also influenced by when you want to retire. That is, retiring at the age of 55 is not the same as retiring at the age of 70, because life expectancy affects your retirement savings. You need to know your assets and liabilities: assets are the things you possess that have value when you exchange them for cash; liabilities are the debts you owe. Your net worth is all your assets minus all your liabilities, and it changes over time because your assets, expenses, and liabilities change too. Therefore, you need to review your financial situation and re-calculate your net worth annually or on a regular basis.

Your aging and longevity are impacted by your spending, which has to do with the value of money, which plays a pivotal role as you continue to age. 

In the past, people could enjoy the blessings of life without spending real money. Nowadays, to many people, enjoyment of life requires money — and lots of it! According to Buddha, craving or desire for material things is the source of all human miseries. Jesus also has this to say about money: “It is easier for a camel to pass through the eye of a needle than for a rich man to go to heaven.” (Luke 18:25)

So, what is the value of money? More importantly, what does money mean to you? Your perceptions of the value of money determine two of the most important things in the rest of your life: how you are going to live the rest of your life; how you are going to spend your money

The value of money should be based on your core values in life, such as integrity, which has little to do with money, and which is an important value that our Creator has bestowed on each one of us. Essentially, integrity is the value of what life has to offer, not the value of things purchased with money. Your core values affect your attitudes towards how you are going to live the rest of your life, irrespective of how much money you have.

The bottom line: spend money wisely according to your needs, and not your wants; be grateful for what you have, and be generous to those who are less fortunate than you age.

The Wisdom of Letting Go shows you how to let go of your attachments to the material world and live happily in your golden years. Also, You Just Don't Die! may provide a blueprint for living the rest of your life, if you just don't die, whether you have or do not have money.

The bottom line: Money may not make you happy; it's all in your mind. Look at some real life examples from The Happiness Wisdom.

Stephen Lauttom
Copyright© by Stephen Lau

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