Mostly I Thought About…
Mostly, I thought about playing basketball, drinking beer, dating and finding a job I liked. I’d had two jobs I didn’t like. I was 27.
The 35 units you need to work for Social Security, compound interest or retirement? Those thoughts never entered the picture. I told you: I was 27, playing basketball, drinking beer and dating.
Seven years ago, long before traditional retirement age, I could have stopped working had I chosen to. I still work. I like my job and the concept I created to work only for home buyers. Homebuyer Associates’ approach involves the use of money, and how to spend it wisely and purchase a home with information not based on emotion or someone selling you something. It’s what makes us different from the traditional real estate system.
I’m a modest success, which I define as being able to live on my terms. The irony of two articles in the same newspaper on the same day last week – with quotes noting the state of present and future retirement – did not escape me.
“The share of bankruptcy filers who are older than 65 is the highest it’s ever been. As example when Fay (the subject of the article) was laid off from her job in her seventies, a painful reality hit when she realized she didn’t have a nest egg that could cover her expenses.”
Let that sink in for a moment: “laid off from her job in her seventies” and “did not have a nest egg that could cover expenses.”
And then the other article:
“The unfortunate truth is that far too many American’s are behind on their retirement goals, and many of them might not retire at all.”
The older you get the fewer options you have for a good retirement. I’ll not sugarcoat. If you don’t save money you won’t retire or, if you don’t save money you will retire poorly – literally and figuratively.
I could have ended up living the first quote (no nest egg) and did live the second quote (behind on retirement) until age 30. How did I end up winning the game?
Hard work. For that I thank my parents and basketball coaches I had along the way: Tommy “Ears” Keenan; Ted Vermiglio and Jerry Murray at the grade school level; Harry Hibner in high school, and briefly, Kenny Anderson in college.
When I started my working career, lessons learned at home and on the basketball court translated into my taking on jobs and responsibilities others wouldn’t. I wanted to win. That’s the hard work part.
Curiosity. Was Journalism my college major because I was curious or did I become curious because I studied Journalism? Don’t know. Curiosity led me to ask about real estate in my first job at the Department of City Development for the City of Milwaukee. I knew little, but curiosity led to questions, and questions led to answers, and answers led to my starting Homebuyer Associates, the first Exclusive Buyer Agent firm in Wisconsin.
Luck. I bumped into three guys, all older than me, in my job in city government. John Bechler, my immediate boss, was a taskmaster who held me to account. Bud Reinhold introduced me to Day-Timer’s recordkeeping as a means to organize work and life. Bud also showed me you could be a professional and ride your bicycle to work. Bob Scheidt was helpful in exposing me to and teaching me about real estate.
That’s the background. Next… how housing played a role in helping me win the game.
Share this and my next newsletter with someone you care about. Maybe Homebuyer Associates can help you or someone you know understand how home ownership may put you on the road to a winning retirement.
I note because according to a recent Gallup poll, 74% of American adults say they’re planning on working past retirement age.
If you’d like to talk about your housing options give Seamus, Mike or me a call and we’ll have a chat over coffee.
Thanks for reading,
Michael D. Holloway