Ocher

Comments:

• Thanks for your thoughtful commentary this morning. I turn 74 later this year and am still navigating my transition to retirement after a long career that I loved and struggled to leave. I stay mimimally engaged in my field and have begun volunteering in a program that serves children. I think about not being treated as senior or old (what ever that might mean to those in our world) and being treated seriously by strangers especially when interacting with health care professionals. If I'm not out riding my bike or going to the gym, I wear polo shirts and other shirts with collars and nice pants. Small thing perhaps, but I do not want the 30 or 40 year-old health care specialist treating me like an old man! My two cents. Love your essays Richard.

  Post: On Being 80

  Link to comment from July 24, 2024

• Thoughtful essay. Love the reference to Fiddler on the Roof. My take is that once we achieve a level of satisfaction with our standard of living, acquisition of more things (cars, boats, second or third residences, etc.) doesn't make us happier. In fact, worrying about whether our stuff will be scratched, stolen, become obsolete can detract from our quality of life. As many commentators on HD have noted, happiness is associated with shared life experiences and sharing our talents and resources with others. Thanks for your insight.

  Post: If I Were a Rich Man

  Link to comment from February 19, 2024

• I agree with that too often money and the amount one has or doesn't have, is equated with self worth. I think conspicuous consumption and credit card debt is a manifestation of this thinking. In addition to my wife, the only ones I share my financial information with are my adult children. I want them to know that in retirement we are financially set. I also want to model good money management and ensure that when we pass on they understand the how and why of our last wishes.

  Post: It’s a Secret

  Link to comment from February 6, 2024

• Dennis, I always love your thoughtful essays about your post-retirement journey. I'm three years into my retirement and struggle to totally stop doing work I love. I work independently and can dial up or down how much work I do pretty easily. I also love exploring new places especially spending time hiking and sightseeing with my wife and adult children. Reading about your experiences reminds me to regularly check in with myself and reassess my priorities and how I spend my time.

  Post: Lessons I’ve Learned

  Link to comment from February 5, 2024

• Over the past 45 years I've remodeled parts of four houses in the Midwest, West Coast, and East Coast. When I was young, friends and a nephew who were beginning their careers in construction would help me (and teach me) on the weekends and evenings. Some of the work was modest - adding a shower, building a deck, or creating a basement family room. Other projects were more involved - total kitchen and bathroom renovation. I learned early on the limits of my skills and time (my day job was in education) and hired professionals to do electrical and structural work. Now 3+ years into retirement, my wife and I moved into a condo five months ago that requires minimal remodeling. Just last week we had three contractors in for estimates for some minor changes in our place. For me, remodeling has involved creating a more spacious and/or comfortable living space for our family. I have also felt that remodeling - if done right - can contribute to maintaining the quality of housing stock in a community. We always tried to leave the houses we sold in better shape than when we bought them.

  Post: Our Money Pit

  Link to comment from January 20, 2024

• Dennis I've appreciated your thoughtful and though-provoking commentary about money management and life since I began reading Humble Dollar essays a few years ago. Thank you. Among other things, I like your focus on simplifying one's financial life and focusing on essentials. My wife and I have been downsizing; we've sold the large suburban house that we raised our children in and are leasing as we contemplate our next move. About a year ago we've switched the management of our retirement funds from Fidelity Wealth Management (~ 1% annual fee on gross assets) to a no advisory fee account that we manage. I was pleasantly surprised to learn that I can periodically meet with a Fidelity account manager once or twice each year at no additional cost beyond the net fees associated with each index or mutual fund we own. All of our retirement assets are in a limited number of low cost stock and bond funds. Reading your pieces and others in Humble Dollar gave me the confidence that I could manage our retirement assets and make sensible decisions about life plans.

  Post: Writing My Retirement

  Link to comment from March 24, 2023

• Good suggestions Michael. We sold our house last November and had a very positive experience. Our house was on the market for five days and we received a cash offer 3K over our asking price. We knew about two years before we sold that there were several major projects that needed to completed before we put the house on the market. I removed the tree house lovingly constructed about 10 years earlier that our kids - now adults - played in. We also replaced our 25 year-old roof and two exterior doors about two years before we sold the property. The major work just prior to the sale involved some interior painting, some landscaping, and decluttering. Our take away from the experience was that some advance preparation and expenses made the final preparation for the sale relatively easy.

  Post: House in Order

  Link to comment from February 10, 2023

• My wife and I had to pay IRMAA during the first year of retirement. While it was a surprise, I understanding the value of progressive taxation and subsidies for healthcare. In the long run I value the importance of good, affordable healthcare for all retirees - and all citizens. While hard work certainly factors into lifetime earnings, so too does the family and community into which we were born. None of us had a hand in choosing our families or our staring point in life. For those of us who are fortunate enough to be able to retire comfortably, having a smaller subsidy than others is a small price to pay to ensure that healthcare is more affordable for all.

  Post: Angry at IRMAA

  Link to comment from February 5, 2023

• Thanks for sharing your journey Jim. I too grew up with privilege. I was fortunate to have parents who were frugal and set a good example of money management for me and my six siblings. I began my career as a teacher before moving on to another career in higher education. My lessons and my "financial education" in my 20s involved owning individual stocks and options trading. After 10 years I had little to show for my efforts, though I suspect the brokers and traders who managed my accounts liked having me as a client. In my 30s I began to get serious about planning for retirement. I maxed out my employer's contributions to a 403b account and added to that. I learned to pay myself and my future first. Fast forward, I've been retired nearly two years and my wife and I are financially secure. We are debt free, live modestly, and are in the process of downsizing our housing. We enjoy supporting non-profit organizations that strengthen communities and vacation time with our adult children. Thanks Jonathan and Greg Spears for posting stories like Jim's and others over the past few months. They are great to share with family and friends discussing financial planning.

  Post: Course Correction

  Link to comment from June 4, 2022

• Thanks Greg. Great story.

  Post: Money Vigilant

  Link to comment from May 28, 2022