By Paul Wildman
LETS as part of super? You have to be kidding!
Some years back I asked our accountant if he was retiring, as I had; we are similar ages.
“I’m not retiring! That means doing nothing,” was his response. Well, there you go. Captured by one definition of retirement.
What are your definitions?
I always use the term protirement, as in proactive retirement.
Likewise, what does superannuation mean to you? Only financial stuff in federal dollars? Everything that’s defined by the government, the banksters and your employer?
Surely, there’s more to super ― more to life! ― than what is officially defined by the dictionary and Big Government? This only forces us to be at the mercy of, well, Freddie Mac, Fannie Mae and the dodgy Lehman Brothers.
But wait ― there’s more!
Here’s where LETS comes in, so let’s redefine superannuation to include LETS.
For me, it means arranging my circumstances so I can have an independent, healthy lifestyle, following the end of my formal working life, i.e. after the age of 65. This lifestyle includes friends and family, community service and LETS. Bingo!
Once you make this small mental adjustment, you are no longer trapped inside the customary definition of superannuation.
LETS is complementary
Remarkably, LETS links all these “real economy” aspects. People often incorporate complementary medicine with traditional medicine, because both can work together.
So LETS can be our real economy complementary superannuation common denominator.
This idea then links to my previous column on cryptos. How about a protirement crypto LETS bank? It’s a thought.
And using this definition of superannuation, you can see LETS also working well in retirement villages.
Above and beyond
Thankfully, LETS is now outside the formal financial economy. Marx would be sooo happy!
This is how I see my LETS account: as part of my superannuation portfolio.
Do you see what I see?