Shame on Fidelity for deliberately relying on the inattentiveness of their customers to profit at their expense. Vanguard doesn’t do that, but the quality of their website and customer service has declined significantly in recent years.
Not doomed, but a steep uphill climb. It helps to have a strong and even charismatic leader coupled with smart and highly detail oriented senior management. Think Apple under Steve Jobs around the time of the development and launch of the iPhone.
Out there, it’s gotten to where so many folks are just dug in with their viewpoints, especially in the political and policy arenas. It’s refreshing to engage with those who do have open minds. One of many reasons reasons why what Jonathan and his team have created is valuable and special. And it’s on all of us to keep it going.
You correctly point out that having guaranteed income via SS and an immediate fixed income annuity sufficient to cover your fixed expenses then may warrant a more aggressive allocation of your other investments to equities. Also important is the behavioral effects. I found that for those of us like myself who struggle to transition from an accumulation to drawdown stage of life, the greater level of certainty makes it at least a little easier to spend.
Fair point. The cost would be comparable per hour of personal care aide. But given the way CCRC’s tend to be marketed, it’s more of an unexpected expense for residents.
For sure. Kudos for being so mindful about it. It would be better for us and the environment if more of us were. But hard to give up that emotional factor of wanting the instant convenience.
All good, Kathy, and congratulations! From personal experience with my mom, the buy-in and regular monthly payments to the CCRC only cover a relatively modest level of care, even if you are moved to assisted living or full-on nursing home care. For example, should you need an aide with you for hours a day, that is an additional out of pocket expense at a high hourly rate. It is not rare for that to amount to as much $2500/week…or even more. Unsurprisingly, this fact is generally obscured in the CCRC’s marketing literature, even at quality places.
Spot on, Jonathan. I am curious, though, on how you and Elaine handle not having a car? Like you, we live in a walk and bike- friendly community with decent public transit options. Even so, the need arises often enough that it would kill a lot of time relying on ride sharing services.
Comments:
Shame on Fidelity for deliberately relying on the inattentiveness of their customers to profit at their expense. Vanguard doesn’t do that, but the quality of their website and customer service has declined significantly in recent years.
Post: Fidelity Brokerage Cash Interest Rate Changes
Link to comment from January 12, 2025
Not doomed, but a steep uphill climb. It helps to have a strong and even charismatic leader coupled with smart and highly detail oriented senior management. Think Apple under Steve Jobs around the time of the development and launch of the iPhone.
Post: Too Big to Succeed by Jonathan Clements
Link to comment from December 13, 2024
Out there, it’s gotten to where so many folks are just dug in with their viewpoints, especially in the political and policy arenas. It’s refreshing to engage with those who do have open minds. One of many reasons reasons why what Jonathan and his team have created is valuable and special. And it’s on all of us to keep it going.
Post: Lines in the Sand by Jonathan Clements
Link to comment from August 9, 2024
Not so bad but flat writing and shallow analysis.
Post: Seizing the Moment
Link to comment from May 28, 2024
You correctly point out that having guaranteed income via SS and an immediate fixed income annuity sufficient to cover your fixed expenses then may warrant a more aggressive allocation of your other investments to equities. Also important is the behavioral effects. I found that for those of us like myself who struggle to transition from an accumulation to drawdown stage of life, the greater level of certainty makes it at least a little easier to spend.
Post: Fully Committed
Link to comment from April 20, 2024
Fair point. The cost would be comparable per hour of personal care aide. But given the way CCRC’s tend to be marketed, it’s more of an unexpected expense for residents.
Post: Gift to Myself
Link to comment from April 15, 2024
For sure. Kudos for being so mindful about it. It would be better for us and the environment if more of us were. But hard to give up that emotional factor of wanting the instant convenience.
Post: Where It Goes
Link to comment from April 15, 2024
Even at a nonprofit CCRC with a high ranking.
Post: Gift to Myself
Link to comment from April 13, 2024
All good, Kathy, and congratulations! From personal experience with my mom, the buy-in and regular monthly payments to the CCRC only cover a relatively modest level of care, even if you are moved to assisted living or full-on nursing home care. For example, should you need an aide with you for hours a day, that is an additional out of pocket expense at a high hourly rate. It is not rare for that to amount to as much $2500/week…or even more. Unsurprisingly, this fact is generally obscured in the CCRC’s marketing literature, even at quality places.
Post: Gift to Myself
Link to comment from April 13, 2024
Spot on, Jonathan. I am curious, though, on how you and Elaine handle not having a car? Like you, we live in a walk and bike- friendly community with decent public transit options. Even so, the need arises often enough that it would kill a lot of time relying on ride sharing services.
Post: Where It Goes
Link to comment from April 13, 2024