President Obama
extended an invitation to world-renowned fable writer
Aesop. The President was interested in Aesop's knowledge and many
years of experience. Aesop accepted the invitation of the
President.
He has observed many societies and their economic struggles. We
here
at Forbes asked for permission to publish an insert with the advice
Aesop shares with President Obama concerning economic advice through
fables. We start with President Obama asking for advice from
Aesop
concerning retirement woes of the American people.
President
Obama: The United States is facing tough economic times.
Americans are increasingly concerned due to lay-offs, furloughs, and
bankruptcy of companies. The stability of jobs in America is a
real
threat in today's society. Americans are not sure if they will
have a
job tomorrow and if they do not where will they go? What will
happen
to their retirement? We want to keep the American people's
ambitions
alive. Aesop, what fable can you suggest to us to use in order to calm
the fears of the American people about their retirement?
Aesop: Mr. President, the retirement
woes of the American people
reminds me of my fable The Miser and
His Gold. The miser
keeps his
gold buried under his tree outside of his house. Each week the
miser
checks on his gold. One unfortunate day he goes to check on his
gold
as usual, but to his surprise the gold is gone. A thief has taken
it. The miser feels as
though his wealth is gone. He is not sure how he will continue to
live. The moral of the story is that wealth unused might as well
not
exist.
President Obama: Aesop, I cannot
simply tell
the American people not to worry about their accumulated retirement
because it was not in use anyway. What exactly does this fable
have to
do with the woes surrounding retirement plans?
Aesop: Mr.
President, my advice to the American people is to have knowledge about
their retirement plan at all times, not just during the rough
times.
The miser buried his wealth under a tree expecting it to always be
there, but that is unrealistic. His wealth was not prospering nor
was it assisting his way of life. Retirement plans should not be
affected by complications the company
faces. If the company is heading toward bankruptcy the employees'
retirement will not suffer. In fact retirement plans should be
controlled by companies separate from the individuals employer.
By
receiving and keeping their annual reports knowledge is gained and they
have the upper hand. If they do not have contact with the agency
controlling their retirement they should.
President Obama: I understand what
you are saying. The American people
cannot
rely on others to manage their retirement. They themselves need
to
manage their retirement and by doing so will possess the knowledge they
need to keep their retirement accumulating. Ultimately they will
be at
ease knowing their retirement is safe. The miser in your fable
was miserable due to lack of involvement with his wealth. Had the
miser done more with his wealth he could have been eased knowing his
wealth would not be stolen.
Aesop's fable
for the retirement woes of the American people is the following:
The
American people set up their retirement plans with the companies they
work for when hired. From that point on they occasionally check
their
retirement through annual reports. If the annual report appears
to be
fine they are satisfied. The American economy takes a turn for
the
worse. Suddenly, the American people become concerned with losing
money
in their retirement. They check their retirement daily worried
about
how to survive in the crumbling economy.
Do not worry about
living off your retirement until your are in fact
retired. The economic crisis you live in today will be overcome
in the
future. If you manage your retirement wisely during the good
times as well as
the bad times you will never live in despair.
Aesop: The American
people do not want to be
like the miser. They need to plan their retirement
carefully with knowledge about their money is invested and its
growth. Do not put off worrying about retirement
until time to retire; instead, focus on it now to be better prepared
for
the future.
Author's
Note: The story I am retelling is Aesop's The Miser and His
Gold. In this
particular fable a miser has gold he keeps buried under a
tree. He checks his gold weekly. One day his gold is gone
due to a thief.
The miser is struck with worry about how to live without his
gold. I
intertwine the story of The Miser and His Gold within my
retelling. I set
my story up like a magazine article to go along with the Forbes
Magazine theme
I have chosen. The writer of the article explains Aesop’s visit
with
President Obama. In my retelling instead
of a miser worried about his gold, people are worried about their
retirement
plans. Aesop and President Obama discuss what advice to give the
American
people about their retirement plans. The fable Aesop uses is
based on
Americans and their retirement woes during the economic
crisis. In
the beginning of the fable Americans worry about their retirement
casually.
When economic crisis hits the Americans are distressed about their
retirements. They worry about how they will live when they
retire. Aesop suggests do not worry about retirement until you
are
retired, but do have knowledge about your retirement plans.
Bibliography: