BUZ LIVINGSTON: A perfect country Christmas story

Published: Thursday, December 20, 2012 at 06:32 PM.

In “The Secrets to Living a Rich Life,” Karin tells Pat’s story, a client who stared down multiple setbacks. Losing an adult child to cancer, a teenager to a drunk driver and facing widowhood at 50 would challenge even the most stouthearted. If you looked at her account statements, she was not “successful” but finances are only half of financial planning. Pat lives a vibrant life even after having to sell her home and family vacation property. Medicare and Social Security help along with a modest pension and IRA. Even as Pat grows older, she draws a small stipend as a “lab rat” in a dementia study. She volunteers in her building’s resale shop where profits offset rent should she be unable to afford it later.

I hope you enjoyed this Christmas story. 

Have another present; consider it a way to understand America’s financial situation.  Trillions befuddle me; likewise, they don’t mean anything to my friend Jerry Davis, an Oregon CFP/CPA. He simplified America’s expenditures and revenues by the same factor (.00000003 plus or minus a few zeros). Adjusted to numbers in my comprehension range, we bring in around $78,000 while spending circa $112,000.

The logical solution involves increasing income and decreasing spending. Take your ideological blinders off, both sides, and use your brain.  Merry Christmas! 

Buz Livingston, CFP offers hourly financial planning and fee-only investment management to clients along Florida’s Emerald Coast.  Contact him at 267-1068, Buz@LivingstonFinancial.netor www.LivingstonFinancial.net.



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