CJ

Comments:

• There's a passage from the NYT best seller, "The Last Lecture" co-authored by the late Randy Pausch, Carnegie Mellon professor and Jeffrey Zaslow, WSJ writer, similar to Jonathan's mindset. Randy's local supermarket overcharged him $20 - a pretty big discrepancy. He noticed after checking out, but saw a line at customer service. Thought about it for a moment and just walked out. He was frugal throughout his life and would have certainly stood in that line ordinarily. But his recent terminal diagnosis had altered his perspective on the value of money vs time. The store could keep their $20! If anyone here hasn't read The Last Lecture, I strongly recommend it. Wonderful book.

  Post: Getting Rolled by Jonathan Clements

  Link to comment from September 21, 2024

• I agree I shouldn't judge. But I also have zero patience for people in self-created situations that complain and blame the world: the boss, the "boomers" who had it way better (ha!); the other side of the political aisle and everyone else except the guy/gal in the mirror. Nothing is ever their fault. The taxpayers who didn't go to college or who worked to paid off their own loans should pay theirs. They should be able to skip exercise and overindulge on bad foods, while enjoying unlimited free health insurance that also includes generous copays and benefits. They dismiss 401ks and planning for the future while filling social feeds with trips and shiny things, then are angry that social security isn't enough to live on. There's a HUGE sense of entitlement that we must stop indulging. I promise not to judge others' poor habits if they promise to stop blaming the rest of the world as their default reflex.

  Post: We can’t control what others do and we can’t stop misfortune from striking. But we can control our own actions. Those who are financially prudent will most likely enjoy success, even if events don’t always go their way.

  Link to comment from September 15, 2024

• Thank you! So helpful. As a bit of a control freak, I am trying to accept the unknowns, plus figure out whether to bother w/Roth conversions. Expecting hefty CCRC fees in the future, so trying to budget wisely for that and any addtl ltc needs too. All the different paths and choices feel overwhelming at times.

  Post: Laying Down a Floor

  Link to comment from September 15, 2024

• Thank you for the great article, Laura - really appreciate it! I was wondering the same thing: how should RMDs figure into ladder calculations. Do most people build those bigger amounts into their annual "income floor" needed once RMD age hits? Also pondering what one's "income floor" should be: 100% of fixed income needs, minus SS? Or just a portion of fixed income needs? If one counts all taxes, all healthcare, all living expenses, lumpy surprises (health emergency, new car, huge home repair, etc) 20-25 years would be quite a sum to commit to, but perhaps that's what's advised in building this "pension" - aka TIPS ladder? I know for SPIAs, they advise NOT to commit all fixed assets - just a portion.

  Post: Laying Down a Floor

  Link to comment from September 14, 2024

• I didn't know this until recently, but it also requires the ability to make several in-person visits, including near the end of life. That puts unfair onus on a sick person who may not be able to physically travel back and forth. They will not do anything by video, phone, etc.

  Post: Final Decision

  Link to comment from September 10, 2024

• What backwards state is this that won't allow sufficient painkillers for hospice patients??? That's a state I wouldn't even visit.

  Post: Final Decision

  Link to comment from September 10, 2024

• I know my plans, if I am physically able - and that's to head to Dignatas in Switzerland - one of the few places in this misguided world that allows a human being to pass as kindly and humanely as a pet dog or cat. The few states here that allow death with dignity have rigid rules requiring multiple in-person visits ahead of time and nearing death: this is often impossible for many sick people who are not residents of that state and not able to repeatedly travel. I support anyone who is against assisted dying for their own life. But detest the sanctimonious thinking of most US states and other countries who want to control and dictate how much suffering I must experience at the end of my life, based upon religions I don't agree with.

  Post: Final Decision

  Link to comment from September 10, 2024

• Kristine: if I may humbly jump in, I think you're asking the wrong Quinn. Would CONNIE have been sadder at losing Richard much earlier vs enjoying more years in retirement together? Because Richard took a big risk in waiting: many people save and save, then die before they can retire. She can only answer now - with the confidence of knowing the future. But I suspect she'd rather have Richard on a leaner budget vs a bigger nest egg alone. The problem is that those pursuing safer nest eggs and die before retiring aren't around to argue the risks and regret to Richard and the rest of us. Pure confirmation bias - Richard got very lucky - so he can post here about the wisdom of waiting. If he died at 56-67, not so much.

  Post: Quinn relents. Apparently you can live on 66% of pre-retirement income. 😉😉

  Link to comment from July 21, 2024

• Unfortunately, some for-profit corporations have been buying up nonprofit CCRCs. Hopefully that's not a growing trend. I did not have a good experience with "A Place For Mom" when I was a caregiver for family a few years back. To me, they're basically an aggregator - like those national home repair estimate websites - they share your info with multiple providers and will spam you with emails and other ads. I didn't view them as helpful at all.

  Post: A CCRC is not an Assisted Living facility

  Link to comment from July 16, 2024

• Do you know if any attorneys are starting to specialize in CCRCs, able to vet contracts for clients? It's likely a consideration for me as well, but it's a huge investment - and often one's final RE purchase. (No pressure, right?) The contracts are complex and varied from place to place, and as you mention, non-refundable in some cases, so due diligence is critical. I've read of situations where things went south when a non profit CCRC was bought by a for-profit company or new leadership mismanaged finances. Frankly, even reading books/guides, I'd be concerned I was missing some important "gotcha" in the legalese. I did check w/one elder care attorney: he didn't seem all that knowledgeable about them.

  Post: A CCRC is not an Assisted Living facility

  Link to comment from July 16, 2024