Kevin O’Leary has some retirement advice making the rounds again: start practicing being poor. “Lose the car. Lose the cable. Maybe even lose the cat,” the Shark Tank star wrote. His logic? “Get used to deprivation before you’re deprived.” (1)
I’ve been a CPA since 1981, with more than four decades of running retirement numbers behind me. I’m also 71, and we have two cats: Jagger and Sargent Pepper. Neither of my fluffy friends is going anywhere —
Source: You Don’t Have to Suffer to Retire Well — 5 Things the ‘Deprivation’ Crowd Gets Wrong