Thursday, February 12, 2009

Emotional Calculator: Retirement and Money

Last year I started approaching authors whose books I thought would be of interest to my readers at Retirement Life Matters. One of those authors’ was Brenda Hendrickson who wrote a nicely compact book called, How To Be A Frugal Millionaire: Eight Simple Steps to Creating Personal Wealth. Initially, the idea was for me to read the book and then provide a review on the website, in my newsletter and in my blog. Then if Brenda wanted to continue to add articles to RLM, she could do so. In addition, Brenda has a developed a free online series called How To Be A Frugal Millionaire,” which was delivered to my inbox.

Unfortunately, I never fulfilled my end of the bargain, which was to read the book and provide a reivew. At first, I used the excuse that I was busy and didn’t have the time to read the book. As time wore on and I began to feel guilty, I realized there was more to it. When I stopped to analyze the situation, I realized I hate the word frugal. In my mind, frugal means to do without.

Lest you think, I’m a consumption driven boomer who shops at the drop of hat, let me assure I’m not. I would say I’m very conservative financially. In looking up to word frugal, one definition is to ‘avoid waste,’ which I think is wonderful. Somehow I associated frugal with deprivation. So, while I don't want to indulge myself, the idea of being deprived isn't too appealing either.

The reason I share this story with you is twofold. One, I want to tell you about Brenda’s book. She offers some easy, common sense advice to live within your means. Something, we all need to learn how to do better, especially now.

I also want to share how emotionally charged is the discussion around money. Good depression era folks who always told me there wasn’t enough raised me. Even though I have worked on my abundance consciousness, if you will, there is still emotion that I haven’t been able to get passed.

What are you’re emotional issues about money and how do you mask them? Retirement often changes our relationship to money. Retirement costs are not just the dollars and cents but your own peace of mind. Understanding your personally feelings about money will help retirement work for you.

1 comment:

WomenBloom said...

Oh, what a topic. I picked up the idea from my Dad that I was so special that the universe would just provide for me. My Mom understandably worried about that so from her I learned to have big fears around security. Not a great combination. Having to learn at 50 the lessons around money I didn't learn early on.

Most wealthy people I know do not 'consume' just to consume. They're wealthy because they have a healthy respect for what it takes to earn money. I'm going to take a look at this book, sounds great.