Richard Hayman

Comments

• Trained as an engineer, budgets alluded me. So none in my business or private life. Perhaps it would have been better if I had, but we survived every surprise. Of course, it helps if you have sufficient lines of credit set up well in advance to cover all temporary shortfalls. It's easy to establish lines of credit with your investment firm or bank using a portion of your portfolio as collateral. Interest rates are significantly lower than prime. Instead of waiting for accounts to settle, if you need to raise cash, funds from a credit line can be instantly wired to your checking account or directly to a payee. No fees are charged for this service. When the market was hot and interest rates were in the two's, I often left LOC balances running for a bit. This is way less complex than buying on margin. Raising cash while minimizing tax consequences is essential. Some like cash reserves. I do not.

  Post: Budget, What Budget? (Know Thyself)

  Link to comment from September 18, 2025

• In addition to a monthly allowance less than 4% of my portfolio, We receive SS, interest income from loans made to businesses, a small amount from my parents family partnerships, a couple real estate distributions, and a odds and ends. After the move into a CCRC early next year, we expect some sort of adjustment will be in order. A huge gift from my children will be spent on apartment upgrades and furnishings. I hope they don’t read HD. Retired at 56. Now 80, I don’t think we will live another 30 years , but we still continuously focus on living healthy. LTCI saved us from financial ruin.

  Post: Are you actually using the 4% rule?

  Link to comment from September 17, 2025

• To me, retirement means having full control over how you chose to spend your time. It has nothing to do with money- spending it or earning it. You are simply living when and how you want. In a few years, I’ll have more retirement years than work ones. I have just one big regret - I made a major mistake in skipping out on the gym in my late sixties. I was busy overseeing the building of a second home for my lifelong hobby. I never recovered physically.

  Post: What is retirement?

  Link to comment from September 15, 2025

• Yes, unlimited to both. Payout also increases 5% yearly. Started at $200/day. It's now $20,000/month (all months are 31 days). I worry they might go out of business, but so far, so good. We have two identical policies that were purchased in 2001. It's not enough for 24x7 in-home care at agency prices—plenty for elevated care in our CCRC.

  Post: Healthcare spending and premiums during a post age-65 retirement- facts and ideas.

  Link to comment from September 8, 2025

• Grandchildren are the future. They deserve everything we can give them. Our nine get a lot from us, plus, we get much in return. We help with everything. School tuition, clothes, spending money, meals out and, most importantly, we give our time, thoughts, examples to follow, philosophy, wise counsel, love, and respect. Their ages are 27-16, five girls and four boys. They are so different from one another. We’re amazed. We talk often, eat out, shop, and hang out in groups and one on one. They us call and text often. I never had that with my grandparents when I was young. To this day, I’m not sure who was a fault. We’re a blended family coming up on 40 years. We have no step children or step grandchildren. Do everything can to keep everyone close to you for as long as you can. Every relationship is so special.

  Post: What They Don’t Tell You About Retirement: Part 2 – Grandchildren Are Expensive

  Link to comment from September 7, 2025

• Purchasing LTC insurance is a tough one because premiums are skyrocketing. It’s insurance like no other because of the high cost. If you’re lucky, you wasted a significant amount of money. And if you’re unlucky, you have fewer financial worries, but are living a less desirable life, sometimes for too long. Health often deteriorates and accidents are hard to predict. If you can easily afford it, buy it early. If not, try to live a super healthy, accident free life. My wife’s LTC carrier has paid out 1/2 a million in just 5.5 years. Those increasing costs will continue for 5, 10, 15 years or more. It all started with a hard fall at home. Yet, we both feel very lucky with her recovery. She could be so much worse. For me, my current annual premiums are far less than just one month’s payout. So it pays to continue because assistance in my future is a certainty.

  Post: Healthcare spending and premiums during a post age-65 retirement- facts and ideas.

  Link to comment from September 7, 2025

• Thirty years ago, during my midlife crisis, I wanted to check out the new Corvette. I was saved from buying it as it took me 20 minutes to get out of it. I've had two spine surgeries since then. No new cars for me. I finally have one that fits me.

  Post: Shifting Gears

  Link to comment from September 2, 2025

• I want to thank everyone for their comments. In my trial balloon, I have failed to convey the idea of returning unused/unneeded social security payments into the system as one way of funding it by those who leave a substantial estate to their heirs. I am looking for means to replace increasing taxes and delaying retirement for our children and grandchildren. The plan, in my mind, is workable and has absolutely no impact on anyone needing all of their SS payments. I failed to convey that message. Therefore, based on the reader's understanding, all comments (and anger) were valid. I accept responsibility for all misunderstandings. Your comments were helpful and appreciated. I will now go back to the drawing board to find a better way to convey the idea. I hear you. Please hold off on commenting, and please give me a second chance to make this concept unambiguous. I value all feedback. Richard

  Post: Comments to 8-22-2025 R. Quinn’s “Does Social Security Work?”

  Link to comment from September 2, 2025

• Precisely. That’s the problem to be solved.

  Post: Comments to 8-22-2025 R. Quinn’s “Does Social Security Work?”

  Link to comment from August 31, 2025

• No problem. This proposal applies to funds left unspent. Nothing to worry about. Spent it all if you wish. But if there is $1 left over, who should get it? Your heirs or returned to the SS trust fund. This is the basis of the discussion. Let me ask the question another way, are the last dollars being spent coming from your assets or from SS? Now let’s say, you received $500,000 more than you paid into FICA and your assets left over total $2,000,000. Should that SS surplus go to your heirs or to back to the SS Trust Fund?

  Post: Comments to 8-22-2025 R. Quinn’s “Does Social Security Work?”

  Link to comment from August 31, 2025