Words of Wisdom

Posted on August 9, 2005 7 Comments

Great words of wisdom from an article in the Chicago Tribune by Humberto Cruz. I was particularly tickled by the last paragraph – I’m thinking about tracking ol’ Gary down to enlist his help…

“The following e-mail is from Gary Hair, a financial adviser in Eugene, Ore., responding to a column about the ongoing debate over whether to spend now (and supposedly “enjoy the moment”) or save for the future.

He speaks wisely:”Encouraging people to save is the first step in creating a society that is free from debt,” he said. “We are a society that is very impatient; we must have everything and we must have it now, at any cost. Unfortunately, it is our future that is being sacrificed. It won’t surprise you how many 50-somethings I meet with who have nothing saved for their retirement and want to `get started before it’s too late.’”

I feel bad telling them that time passed many years ago. I will gladly help them save all they can but it won’t be what it could have been, nor will it be as painless as it would have been, if they started 25 years earlier. I don’t take on a defeatist attitude, but I don’t paint a rosy picture either.”

I think my best day at work is when I have new clients in their 20s who want to start putting money away for their future. Typically, these are people with very little money to save, but fortunately, they also have very little debt. Their greatest asset is a vision for their future. They just need me to help guide them along.”


On the subject of “words of wisdom,” I’m pleased to announce that Budgeting Babe will host another guest blogger in the near future. Barbara Ruiz and Sarah Sanchez, co-owners of The Dressing Room, a new affordable, trendy boutique fashion store in Chicago (it opens today in the Lincoln Square neighborhood) will provide thoughts on opening a new store, pursuing career changes and following their dreams. They’re clearly excited about the opening:

“Throughout the final stages of our construction and finishing we needed to work with the door locked,” says co-owner Sarah Sanchez. “When we forgot to do that people would keep popping in with the excitement of us finally be open for business. It wasn’t always so easy to tell them they had to wait another week.”

I look forward to their story. Meanwhile, if you’re in Chicago, check out the store (4635 N. Lincoln). Need more incentive? According to The Dressing Room’s press release, this week’s guests will receive “special gifts” for stopping by.

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7 Responses to “Words of Wisdom”

  1. roderick
    August 9th, 2005 @ 6:16 pm

    Hey, great post.

    In today’s Redeye, you should see the column about today’s “Gold Collar” people, those who live at home but still have to have that $1,000 Prada Bag. Great read, and I’ve love see your take on it.

    My girlfriend has shopped at the Dressing Room. I’ll be reading what she has to say.

  2. Nicole
    August 9th, 2005 @ 9:08 pm

    Oh man… I think I can have fun with this one. I’ll def. pick up a red eye on the way home!

    Nic

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