My Retirement Plan Is Being Hindered by Too Much Choice

I have been wondering why I haven't been getting much done lately so that I can work toward my retirement plan.


I just found out the reason: I have too much choice — too many great projects to work on including a new book called How NOT to Retire BROKE: Create $250,000 or More for Your Retirement in Seven Years or Less.  (Also because I have been fighting people stealing my website and blog content so that I am not penalized for exact duplicate content).


If you haven't seen this video, it's worth watching.


Psychologist Barry Schwartz takes aim at a central tenet of western societies: freedom of choice. In Schwartz's estimation, choice has made us not freer but more paralyzed, not happier but more dissatisfied.


The Paradox of Choice


Here is an e-mail that I received from a friend of mine who retired with virtually no assets except for an Airstream trailer and a car worth about $3,000.


George has been happily retired with his main income from the age of 60 to 65 being $450 a month from the Canadian Pension Plan. Yes, that what Jim lived on.


But Jim just turned 65 and will receive almost $1,500 a month with the Old Age Security and the Alberta Government supplement. (similar to what Social Security pays in the U.S.)

Hello Ernie,

I just finished listening to the Barry Schwartz and I couldn't agree more with what he was saying. I feel the same kind of paralysis he talks about when I go into a restaurant that has a six page menu and an even longer wine list. Invariably, after having had a reasonably good meal, I still leave wondering if there was something else I might have enjoyed more and, as he says, that feeling consequently diminishes the dining experience. I also have to admit that my happiness is tied directly to my lack of affluence, and therefore, to my distinct lack of choices in life generally (which others would call a near state of impoverishment and subsequently to a substantially lower set of expectations). It all makes perfect sense, this lifestyle of mine, thanks to Barry Schwartz. And thanks to you, Ernie, for passing this on. George

Here are some retirement resources for enhancing your retirement:

Gambling Quotes to Remind You Why Winning a Lottery Is the Retirement Plan for Stupid People

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And here are some of the quotes from the Sensational Quotes for Smart People Website

Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing . . . those who put an investment program in place[as a retirement plan] will have a lot more money when they come to retire than those who never get around to it.- Australian Finance Expert and Best-Selling Author Noel Whittaker

After you marry, every asset either of you acquires is jointly held. That's why you both need to be in sync on your long-term financial goals, from paying off the mortgage to putting away for retirement. Ideally, you should talk about all this before you wed. If you don't, you can end up deeply frustrated and financially spent. - Suze Orman