The fact that you need to be saving money for retirement isn’t exactly news. But what are you actually saving for?
According to William Bernstein, a neurologist and co-founder of investment management firm Efficient Frontier Advisors, having a good idea of how you’ll spend those post-work years is critical to how happy you’ll be. As he says in the Wall Street Journal, “‘Golf’ is not a plan.”Bernstein provides a simple equation to predict how happy you’ll be after leaving the workforce:
Retirement Happiness = [How Much You Dislike Your Job] x [How Much You Want to Do Something Else]
In Bernstein’s opinion, you need both factors in order to be a happy retiree. Love your job? Then one of your factors is zero. Have no idea what your days will look like after retiring? There goes the other factor.
Therefore a Retirement Happiness value of 250 means? Idiot Yahoo writer wins another Einstein Science Award.
Tags: Idiot Yahoo writer