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?
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 @Veronique @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.