Not all guys hate LV. A couple of years ago I was staying in the same hotel in Milan as the U of Wisconsin men’s basketball team, and they all arrived back from a shopping trip with gigantic LV bags. When they checked out the next morning we saw the Gucci and Ferragamo bags as well since it took them several elevator trips to make it down with their huge haul of bags!
I don’t have data for this observation, but at mine and my husband’s orgs (academic med ctr, health philanthropy), HR personnel seem more short term than other departments and not at all representative of otherwise stable scientific, tech and clinical employees. Also they tend to be much younger. I’m not sure I would take their advice alone. Most employees seem to work closely with their managers to either phase into retirement or set a date months or a couple of years in the future. I have no plans yet, and we have 80-year-olds still in the saddle, but my husband and his director will retire together (one wants to avoid personnel responsibilities, the other can do that but is not as analytically deft, so a symbiotic thing). This org requires a 6-month separation before returning as a contractor, but it is likely they would both return on a part-time basis. It’s worth noting that if we thought we were standing in the way of a younger person filling our roles, we would give serious thought to leaving, but in fact there are never enough candidates for our jobs.
Really enjoying the responses to these!
1.) Food and home insecurity backgrounds meant we sought early independence and very secure but intellectually stimulating science and health care professions. Risk tolerance is medium high since we knew one of us would always be able to easily find work. 2.) We appreciate independence and good education money can buy. 3.) Still working by choice. We have had bad employers and good. Now it’s good employers, that makes a huge difference and we’ll keep on (in our 70s) until maybe hearing/vision begin to be problems (or cognitive decline!). 7.) We have no children and have set aside money for several years of highest-level care, and I am working on downsizing right now. 8.) Plans have been long established and everyone knows but the question is if we should disperse early via an irrevocable trust? Also, how to keep passwords updated for executors is problematic.
Ah, so cash draw is simply the amount he chooses to pull out while trying to maintain the same or slightly higher account total from year to year. Two comments: 73 is not that old, and good luck in those years when the market dips below the previous years’ balance.
Comments
Not all guys hate LV. A couple of years ago I was staying in the same hotel in Milan as the U of Wisconsin men’s basketball team, and they all arrived back from a shopping trip with gigantic LV bags. When they checked out the next morning we saw the Gucci and Ferragamo bags as well since it took them several elevator trips to make it down with their huge haul of bags!
Post: The Opposite of HumbleDollar
Link to comment from April 30, 2025
Since tax season just ended, I will say, any fund that sends their statement out after March 15 is first on the chopping block no matter the return!
Post: Quinn needs some advice about his RMD
Link to comment from April 30, 2025
I don’t have data for this observation, but at mine and my husband’s orgs (academic med ctr, health philanthropy), HR personnel seem more short term than other departments and not at all representative of otherwise stable scientific, tech and clinical employees. Also they tend to be much younger. I’m not sure I would take their advice alone. Most employees seem to work closely with their managers to either phase into retirement or set a date months or a couple of years in the future. I have no plans yet, and we have 80-year-olds still in the saddle, but my husband and his director will retire together (one wants to avoid personnel responsibilities, the other can do that but is not as analytically deft, so a symbiotic thing). This org requires a 6-month separation before returning as a contractor, but it is likely they would both return on a part-time basis. It’s worth noting that if we thought we were standing in the way of a younger person filling our roles, we would give serious thought to leaving, but in fact there are never enough candidates for our jobs.
Post: How Did You Announce Your Retirement?
Link to comment from April 30, 2025
Really enjoying the responses to these! 1.) Food and home insecurity backgrounds meant we sought early independence and very secure but intellectually stimulating science and health care professions. Risk tolerance is medium high since we knew one of us would always be able to easily find work. 2.) We appreciate independence and good education money can buy. 3.) Still working by choice. We have had bad employers and good. Now it’s good employers, that makes a huge difference and we’ll keep on (in our 70s) until maybe hearing/vision begin to be problems (or cognitive decline!). 7.) We have no children and have set aside money for several years of highest-level care, and I am working on downsizing right now. 8.) Plans have been long established and everyone knows but the question is if we should disperse early via an irrevocable trust? Also, how to keep passwords updated for executors is problematic.
Post: Ask Me a Tough One
Link to comment from April 19, 2025
SS will be 11% at retirement next year. Only one of us will be claiming at that time, we both are claiming at 70.
Post: How important is Social Security?
Link to comment from February 8, 2025
Ah, so cash draw is simply the amount he chooses to pull out while trying to maintain the same or slightly higher account total from year to year. Two comments: 73 is not that old, and good luck in those years when the market dips below the previous years’ balance.
Post: The Draw of Cash
Link to comment from February 5, 2025
Years ago we took out TIAA guaranteed annuities each now $550k-ish with the intent those would be our LTC coverage if needed.
Post: How Are You Planning to Pay for Potential Long Term Care Expenses?
Link to comment from February 5, 2025