Saturday, July 1, 2017

Wealth Management Advisor

I was standing in line at the Worthington Bank the other day when I saw a sign on Lily’s desk that said, “Wealth Management Advisor.” I realize the bank’s being helpful offering this service to customers, but with the economy where it is these days, banks might do better to have a Poor Folks Management Advisor. Wealth is not the overwhelming problem of the average American. Not with 1% of our citizens hogging all the money. 

Don’t get me wrong, it’s best to plan for future retirement, but you need money before you can save it. And all those economic guys are saying wages are stagnant. Fact is, I heard tell of a man whose father made $16.00 an hour with benefits to include several weeks of vacation time some 30 years ago. Yet that same job with the same company is now paid minimum wage with no benefits.

Chew on that a little bit. 

Food for chewing: in 1985 $16.00 bought over 2x as much as it does today. So in today’s dollars, even if the job still paid $16.00, it wouldn’t buy as much. Top that with the fact the pay for the job fell to minimum wage…

Seems to those of us who shop see prices for everything going up, but what folks are paid isn’t.
Folks need help surviving the present and don’t really have any money for the future. And that’s going to really hurt when their present becomes their future and they’re flat broke.
I like cutesy titles as much as anyone else, but if I were a wealth management advisor, I’d take my own advice and get wealthy. “Course that would mean I wouldn’t have to work.

I’d join the ranks of the 1% who are hogging all the money. 

Although why anyone thinks they need a billjillion dollars is beyond me. The hassle of trying to spend it before I kicked the bucket would drive me bonkers. Which brings me to this: what’s the point of having so much money you can’t even spend it in your lifetime? 

What, to leave it to your kids who will just fritter it away on a rich kid lifestyle they didn’t have to lift a finger to get?

Frankly, with all the huge numbers tossed around as to the worth of CEOs, sports figures, entertainment types, etc. I’m beginning to wonder where all the money is stored. Are these folks keeping it under their mattress? In an armored car parked on their estate? 

What if the 1% sashayed down to the bank today and wanted to withdraw their money, would there be enough dollars in the nation to pay them? Would there be a purse large enough to hold it all?

An even better question, is there a future for a Poverty Management Advisor?


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