- advertisement -

Celebrities on retirement

Celebrity roundup
Charles Barkley
Sandra Bernhard
Barbara Eden
Mike Greenberg
Jim Harrison
Carl St. Clair
John Stossel
Who: Jim Harrison
Author ("Legends of the Fall")
Fame & Fortune Q&A:
Bankrate: Did you at some point emerge from the fog and knuckle down to some financial planning?
Jim Harrison: Yeah, I had to when I was in my 50s because I didn't have any retirement. So then I got pretty smart. It was just this gradual feeling as I got older that I wanted to make sure that my wife and two daughters had some sort of benefits from the fruits of my labor. I got an adviser and entered one of these plans, which is a bitch where you have to save so much every year. Sort of like an inflated IRA. I had to meet this mark for six years. It was ghastly, but I did it.
Bankrate: Will you ever retire?
Jim Harrison: No. Writers don't retire. I don't have to do the obnoxious work that I used to. I just write what I enjoy now. It's a better life.
Lesson learned: 
If you wait to start saving, you'll need to save much more money.
Read the entire interview with Jim Harrison.
 << Previous | Next >> 
Bankrate.com's corrections policy
-- Posted: Oct. 1, 2007
Create a news alert for "retirement"
How much will I need to retire?
Prioritize retirement savings
Power of compounding
IRA penalty has multiple exceptions
Best times to shop for bargains
Remarriage saps Social Security benefit

Compare Rates
IRA MMA 0.49%
1 yr IRA CD 0.93%
5 yr IRA CD 1.96%
- advertisement -
- advertisement -
- advertisement -