Friday, May 18, 2007

A Retirement Strategy - Die Broke

Die Broke, written over ten years ago by Stephen Pollan, has been getting some press recently at and in the blogosphere.

According to the article, the book proposes four strategies:

Quit Today - Leave the corporate world to gain greater control of one's career.

Pay Cash - Free oneself from debt.

Don't Retire - Plan to remain active.

Die Broke - Safely transfer assets to heirs while still around to enjoy the giving.

Another concept is that money should be considered a tool. Once one dies, money has no use. Therefore, success should be defined by what one does with money and not how much one has (when one dies). Mr. Pollan has successfully followed his own advice for 10 years after writing his book. He is now 78 and is on track to die broke.

I have not yet read the book. However, I found the article intriguing. I already practice two of the strategies, pay cash and don't retire. I am interested in learning about the other two strategies and am getting a copy from the public library to read.

For more on Reaping the Rewards , check back every Friday for a new segment.

This is not financial or retirement advice. Please consult a professional advisor.

Copyright © 2007 Achievement Catalyst, LLC

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