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?