I had a really interesting conversation with a client the other day. To give you a little background, I don’t know him personally (that is to say outside one or two conversations), he is 50 years old, successful, not ultra high worth successful but amazingly comfortable, couple kids, a wife and he wanted to map out his retirement cash flow. It was during this conversation that he said something to me that for some reason I can’t get out of my mind. So since I own this blog you get to hear about it!
Part of his future cash flow is a non-qualified defined benefit pension, that is to say when he hits 62 he will have an income of $130,000/yr pre tax, but it was during this conversation that has got me pondering. He said to me,
If I have to wait to 62 to retire, I am going to lose my mind
With that story in mind watch the following video:
So what do the Corporate Lawyer and The Genie from Aladdin Have in Common?
Evan
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They both want to be free but are bound to obligations. They both also want someone to wish for their freedom. Close?
I go along with Dan!
I would also say they are both not doing what they want to do.
They are capable of doing more but they are also trapped inside a bottle, or a box as most corporate attorneys work in.
I agree! They are both longing to be free to do what they want and travel! Great video this is! I love Aladin!
I would say its more like they value freedom more than power/riches, except your high worth individual is probably going to wait and get the pension, which means he values that more…
Believe it or not I think he’ll end up banking CASH for the next 5 years and take back is life after that
Love Robin Williams!
The answer is simple. Being a lawyer sucks just like being a genie sucks!
HAHAHAHAHAHAH OUCH!
lol, SAM’s answer had me rolling on the floor!
I think your golden handcuffs picture says it all. That’s a pretty big nut to have in the end, but a long time to do the required monkey dance… that’s for sure!
I guess it suck being in servitude to the big corporations! (hmmm, I guess Sam’s answer was spot on after all).
I am young (29) but I don’t think I would mind some golden handcuffs LOL!
@Dan @DoNotWait @MyPersonalFinanceJourney @Wil
Fantastic insights!
Thanks! Great idea to spruce up a Friday and get us ready for the weekend!
@Evan, thank you, the genie inspired me! Though I don’t want to be trapped like him!
I dont have an answer but I want to be that attorney! As it is I’m looking at working until 67 with no golden parachute. Sigh.