OCR Text |
Show talks" ON TMR.EFT A COMPETENCE AT SIXTY. "Sow little, reap little." Franklin. The close of the year is a very appropriate ap-propriate time for the Individual to do Just what' the business man does take' account of stock and see where be stands financially. , The flight oftlme, as marked by the approach of another year, must bring home to the thoughtful man a realization reali-zation ef the fact that his beet earning earn-ing years cannot last indefinitely, it impresses upon him the necessity of so planning his course that when the time comes for him to lay down the ' active work of hi life, his capital, or "accumulated day's work," may h sufficient to take up the burden of his support and enable him to spend bis declining years In comfort and independence. inde-pendence. K. C. Thompson, in a recent Issue of an investment magazine, maintains that any man of moderate income, if he will only exercise proper self-denial, self-denial, can at 90 possess sufficient means to live on the income without having to work. . .e writer believes that in these mi 4 of high wages and large profits, a well as high cost of living, the hrifty man has such overflowing op-. op-. uortunlif. as. the. world nevr offered before. The difficulty, as he seea it, is that n!n emeu in every ten do not save money. In his judgment few men, even when earning what are considered consid-ered small wages, should fail at 60 to own at least $20,000. The Investment Invest-ment of thie at 3 per cent, which can be effected with safety, would yield $1,000 a year. A man of 30, earning $3,000 annually, ought so to regulate expenses that at 60 he will have at least $60,000. Some of the means through' which such results may be achieved consist simply in keeping outgo below income and thus saving part of one's earnings earn-ings The question to ask la whether with a given salary or wage one has the right to a certain style and standard stand-ard of living. If the style is not war ranted by the wage it, la the part of prudence and courage to cut the coat according to the cloth. What look like necessities may havt to be surrendered. sur-rendered. But such sacrifices in the years of earning obviate severer and more humiliating sacrifices in the years when earning power has ended. To bring about the happy consummation consum-mation mentioned, it is assumed that a man's income is constant, and not drained by sicknesses In bis family ot times of unemployment. But even if you cannot do as well as the figures quoted, there is truth enough In the Idea to emphasize the unrealized power of thrift and saving to protect old age, from poverty. T. D. Mac-Gregor. |