Sometimes I wonder which side these guys are on and who's checking the facts. Then I remember that editors play to the biggest market they can find and journalists have to write to deadlines.
Bankrate.com has been flogging their 2007 retirement guide and I've been browsing the occasional article. One of them is
Working life goes on for serial retirees", which is mainly intended to encourage those without a pension who haven't saved enough in their 401(k)s. It talks about various part-time or health-insurance ideas. It quotes the usual sound-bite experts across three pages of ad-clogged bloated website. Don't retire, just rehire!
Then I stumbled across these two paragraphs at the end:
"Rob Bennett, a tax attorney and journalist, dreamed of writing a book but needed to work a full-time job for financial reasons. With his dream as a goal, he "worked and saved like a madman until I got to the point fairly early in life where I had saved enough so that I could do what I wanted to do," he says.
"Now I'm at the point where I only have to make $12,000 a year or so to pay my bills and that covers food, utilities and other day-to-day expenses," he says. "My mortgage is paid off and if I make more than my minimum, we can take a nice vacation." His book, "Passion Saving: The Path to Plentiful Free Time and Soul-Satisfying Work" and his blog, promote the idea of early savings as a path to financial freedom."
I'd describe the reader's experience as biting into an apparently good apple and seeing half a worm waving back at you. Apparently Bankrate.com hasn't been fully inoculated against Hocomania...
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