Brian McLane

Media and Social Commentary

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BYE BYE BENEFITS AND THE ROCK PROPHECIES. WHAT WILL YOU SELL OFF?

February 28th, 2011 · No Comments · Media, Social Commentary

Getting sick in our old age (never mind the possibility of having to wake up everyday to work at Walmart as a greeter) is probably the number one concern for people who are aware.

Problem is that most people are distracted by sports, the Oscars, the nightly news and reality television to pay attention.

As you get older the greatest threat you face isn’t death, it’s outliving your income. How’s that for a prediction. On 60 minutes the other night was a report about a generation of baby boomers who have seen their retirement savings slashed due to the 2008 financial crash, and the fractional value of their depleted 401 K’s. The number 60 minutes used was that the average household had about 150,000 in its 401(k). Huh? I find that figure high.

The news from Wisconsin was likewise, well, prophetic. Unions were going to be shouldering a greater cost for their health care benefits. Period, end of story. All the protests and bluster in the world is not going to change that inevitability.

I recently recorded on DVR a film that was on PBS called Rock Prophecies. I’ve had so little time to watch any television (for instance with the little bit of downtime I have I’d rather get my blog in), that I almost just deleted it as there are other shows that I have to make sure I see – otherwise why have the DVR. The story centered around famed Rock Photographer Robert Knight who was trying to stay relevant but had amassed quite a valuable archive. Lucky for him.

There is one part of the film which focuses in on his close relationship with his mother who has developed Alzheimers. The cost of her care is approaching $9,000 a month.

The bottom line is that our society has been led to believe that Social Security and Medicare will take over when we reach the age of 65 and pay our expenses and bills. This is false. The alternative to not having a strategy for long term care is almost unthinkable. Getting sick in our old age (never mind the possibility of having to wake up everyday to work at Walmart as a greeter) is probably the number one concern for people who are aware.

Problem is that most people are distracted by sports, the Oscars, the nightly news and reality television to pay attention.

What did Robert Knight do? He had to sell his personal archive of Jimmy Hendrix photos valued at over 3 million dollars to the estate of the famed guitarist. What will you sell?

Here’s a link to this terrific indie film.

Bye Bye Benefits and the Rock Prophecies

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