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August 10, 2008 |
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Dear Friend, Wouldn't it be fascinating to chat with Ed Koch, former mayor of New York City? I recently did... and learned that with several jobs, Koch is only slightly less busy than he used to be, and is no less opinionated! He explained why he'll never retire, revealed what he (a lifelong Democrat) admires about President George W. Bush, told me the truth about how much he weighs... and also shared his only acceptable excuse for missing his thrice-weekly gym workouts. Here's a statistic to have strong opinions about: According to Charles B. Inlander, author of more than 20 books on consumer health issues, including Take This Book to the Hospital With You: A Consumer Guide to Surviving Your Hospital Stay, hospital bills contain errors 80% of the time. He tells which mistakes to look for and where to go to get the problem fixed. All the best, Jessica Kent Editor BottomLineSecrets.com
Why I'll Never Retire Edward I. Koch  hen Ed Koch was voted out of office in his bid for a fourth term as mayor of New York City in 1989, he was 66 years old. After a lifetime of public service that included military action in Europe during World War II and a decade as a US congressman, he could have opted for a quiet, stress-free retirement. Instead, Koch announced, with his trademark candor, that he was losing 40 pounds
and working at 11 new jobs. One of those jobs was writing a book called I'm Not Done Yet! (William Morrow), which gives advice on how to make the most of life as you get older. Bottom Line/Personal caught up with "Hizzoner" to find out how Koch's vision of retirement is faring today... How many jobs do you currently have? I'm in my 80s, so I have had to cut back. I'm a partner in a law firm... I host a weekly radio show, and I am a weekly guest on a TV show... I write political commentary and review movies in newspapers... I appear in TV commercials... and I am writing a book about the Holocaust and another on how people get their opinions heard in our government and culture today. I'm convinced that the old notion of retirement -- sitting in the sun and waiting for your grandkids to call -- is responsible for shortening lives. The brain is like a muscle that atrophies if you don't constantly challenge it. I fear the moment I stop reaching for more, that's the moment I'm done. Wouldn't you agree that most retirees aren't in the position to be as dynamic as you? Nonsense. My father sold his fur business in New York when he was in his mid-70s. Afterward, he was miserable. He needed something to make him feel purposeful, but he had limited skills -- he couldn't even write English -- so he took a job in the fur storage department at Bloomingdale's. It was a brave thing to do, starting over like that as an older man. His customers and coworkers came to love him. He stayed at Bloomingdale's for several years. He mattered. He was relevant. How specifically does one stay relevant? Four ways. First, I don't consider what I do to be work. I'm on a multi-year businessman's holiday. I only take on projects that I can't wait to get up in the morning and start. If you don't like how you're occupying your time in retirement, it's not a life sentence. Get out quickly, and try something else. Second, find a way to leave your house for the day. One reason I continue to work as a lawyer is because it gives me a place to go to that is filled with young people and diverse personalities. Their energy makes me feel energized. Third, don't be afraid to fall on your face. I have always loved movies, so I figured why not try my hand at writing about them for a local publication in New York City? I have absolutely no qualifications, but my reviews are exactly the kind I want to read -- short, direct, with no confusion about whether to shell out 10 bucks. Actually, people like my movie reviews more than my political commentary -- and that upsets me. Fourth, look for opportunities everywhere. I recently became a spokesman for FreshDirect, a grocery delivery service whose Web site has a great selection of organic, locally grown and kosher products. People know that I like food and I can cook. In recent years, you've faced some serious health problems, including a stroke. You've also had a pacemaker implanted. How do you remain vital and positive in the face of physical problems? Sometimes it is people's reactions to physical problems that really handicap them. My personal bests may be behind me, but there are more "very goods" to come. The most important thing is to never give up on staying in shape. As mayor, I weighed close to 245 pounds. I'm down to 220 now, and I'm always on a diet. Also, my rule is that if I don't feel bad enough to go to the ER, I must go to the gym three times a week. It's difficult to keep mattering in life when you don't matter to yourself. Health is a big issue for people headed into retirement, but are there other issues that they're ignoring? People should be more concerned about the future of Social Security. The White House's plan to privatize it, by letting employees divert one-third of their taxes to individual investment accounts, really scares me. To finance that diversion, the federal government would have to borrow $2 trillion -- and the biggest winners would be Wall Street brokers, who would fleece us and earn billions. I don't think the solution is complicated -- it just requires enormous political courage. We have to raise the retirement age, reduce benefits and apply the Social Security tax to more income (not just the first $97,500). You always speak your mind. How do you maintain your candor without alienating people? In the beginning of my career, my candor did get people angry. They thought I was doing it to be difficult or a bully. Eventually, they realized that I could be relied upon to voice my deep convictions, no matter what. For instance, I'm a lifelong Democrat, but in the last presidential election, even though I didn't agree with President George W. Bush on any domestic issues, I still supported him for reelection! That's because Bush surprised and impressed me with his resolve after September 11 to go after the terrorists and the countries that harbor them. He had the grit to topple the Taliban, drive Saddam Hussein from power and press on in what is going to continue to be a grinding conflict. Did Bush's lieutenants screw up the postwar recovery in Iraq? Yes -- big time. So it's easy to disparage Bush as incompetent. Nevertheless, I take the position that Bush will someday be accorded the status of Harry Truman. Truman was disparaged when he left the White House, but he is now considered great. You know, when I had my stroke, I made a pact with God. I told Him, "God, I'm not afraid to go, but take me all at once or not at all. No salami tactics." So far, He's kept His word, and I mean to make the most of it.
Bottom Line/Personal interviewed Edward I. Koch, the 105th mayor of New York City and currently a partner in the law firm Bryan Cave. He lives in New York City. Subscribers who would like to receive his free political commentary and weekly movie reviews can E-mail him at eikoch@bryancave.com.
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y mother-in-law recently spent 20 days in the hospital with a near-fatal bout of pneumonia. Her bill was more than $30,000. Although the hospital had billed her insurers directly, when she checked out, I insisted that we be given a fully itemized hospital bill -- one that listed every single charge. After reviewing the bill, I discovered at least $3,000 worth of questionable
charges. I called the hospital's billing office and challenged the bill. It was changed. I'm still waiting to see if Medicare and my mother-in-law's supplemental insurer got the correct bill.
