AUTHOR: Kevin Madden on 12/23/2024 FIRST: wtfwjtd on 12/23/2024 | RECENT: John T on 1/4
Comments
These are all great questions. I'll take a stab at answering three. #4 - I retired in January 2023 and consider my career a success. I had two employers, each for about 21 years. When I wasn't a specialized individual contributor, I managed a small group (but was not very good at it). I consider it a success because (1) I produced work valuable to the companies and was well respected by my colleagues and (2) I earned enough money to provide a nice life for my family and a comfortable retirement. #5 - To me, having enough money is when you have financial independence, i.e., are free of financial worry. I would welcome having more money but am not interested in sacrificing anything to obtain it. #6 - The biggest contributor to my retirement happiness is planning and partaking in 1-2 big adventures each year, like summiting Mount Kilimanjaro and hiking the O Trek in Torres del Paine National Park in Chilean Patagonia. I feel great joy planning, preparing for and executing the adventures. Playing with my two grandchildren comes in a close second!
I agree. Assuming you don't need the funds now, it comes down to minimizing taxes (including IRMAA, loss of healthcare premium tax credits, etc.) during your long retirement journey.
I just got back from two weeks in Chilean Patagonia - biking, hiking and horse riding. Torres del Paine is magnificent but so is so much of Patagonia. So remote and so local.
Charter a private sailing or powered catamaran in the Whitsunday Islands near the Great Barrier Reef in Australia. Did this with my son in 2019 and need to go back. Best trip ever.
Strong analysis is wise before you do significant Roth conversions. In my opinion, it's a no-brainer to do some, modest Roth conversions. The flexibility to withdraw some funds tax free for surprises, etc. is extremely valuable.
I’m really enjoying a recent purchase of Apple AirPods 2. I’m using them for learning Spanish with Duolingo. Can close my eyes and focus on the words. And eventually I’ll check out the hearing test and hearing aid capabilities.
Time is the greater threat, for sure. I invest in my health by running 4 times a week, strength training at least once a week (I don't enjoy this as much), sleeping 7+ hours per night, eating fairly healthily, drinking moderately, maintaining strong relationships (for mental health!), walking the dog, playing with grandchildren, and by doing adventure travel a few times a year (e.g., bikepacking, hiking, climbing), which also requires training before the trip.
The only potential flaw I can think of is that, given your very conservative approach, your investments might underperform, leaving less money for your heirs. But since you'd have to give up some safety/security, it's probably not for you. I'm talking about investing more in the broader equity market instead of dividend oriented stocks.
Comments
These are all great questions. I'll take a stab at answering three. #4 - I retired in January 2023 and consider my career a success. I had two employers, each for about 21 years. When I wasn't a specialized individual contributor, I managed a small group (but was not very good at it). I consider it a success because (1) I produced work valuable to the companies and was well respected by my colleagues and (2) I earned enough money to provide a nice life for my family and a comfortable retirement. #5 - To me, having enough money is when you have financial independence, i.e., are free of financial worry. I would welcome having more money but am not interested in sacrificing anything to obtain it. #6 - The biggest contributor to my retirement happiness is planning and partaking in 1-2 big adventures each year, like summiting Mount Kilimanjaro and hiking the O Trek in Torres del Paine National Park in Chilean Patagonia. I feel great joy planning, preparing for and executing the adventures. Playing with my two grandchildren comes in a close second!
Post: Ask Me a Tough One by Jonathan Clements
Link to comment from April 20, 2025
I agree. Assuming you don't need the funds now, it comes down to minimizing taxes (including IRMAA, loss of healthcare premium tax credits, etc.) during your long retirement journey.
Post: 4% every year? even this one?
Link to comment from April 9, 2025
I just got back from two weeks in Chilean Patagonia - biking, hiking and horse riding. Torres del Paine is magnificent but so is so much of Patagonia. So remote and so local.
Post: Where Next? What Next?
Link to comment from April 1, 2025
Charter a private sailing or powered catamaran in the Whitsunday Islands near the Great Barrier Reef in Australia. Did this with my son in 2019 and need to go back. Best trip ever.
Post: Where Next? What Next?
Link to comment from April 1, 2025
Strong analysis is wise before you do significant Roth conversions. In my opinion, it's a no-brainer to do some, modest Roth conversions. The flexibility to withdraw some funds tax free for surprises, etc. is extremely valuable.
Post: To Roth Convert or Not
Link to comment from March 4, 2025
I’ve recently started using Duolingo to learn Spanish. It’s sort of addicting. Not sure how much I’ve learned but I have lots of gems and XPs! Haha
Post: Never Enough
Link to comment from February 16, 2025
I’m really enjoying a recent purchase of Apple AirPods 2. I’m using them for learning Spanish with Duolingo. Can close my eyes and focus on the words. And eventually I’ll check out the hearing test and hearing aid capabilities.
Post: What Purchases Have Been Worth It?
Link to comment from February 16, 2025
Excellent article. I really admire and appreciate your self-awareness. And your sense of humor!
Post: My Own Thing
Link to comment from January 21, 2025
Time is the greater threat, for sure. I invest in my health by running 4 times a week, strength training at least once a week (I don't enjoy this as much), sleeping 7+ hours per night, eating fairly healthily, drinking moderately, maintaining strong relationships (for mental health!), walking the dog, playing with grandchildren, and by doing adventure travel a few times a year (e.g., bikepacking, hiking, climbing), which also requires training before the trip.
Post: Focusing on the Real Threat
Link to comment from January 8, 2025
The only potential flaw I can think of is that, given your very conservative approach, your investments might underperform, leaving less money for your heirs. But since you'd have to give up some safety/security, it's probably not for you. I'm talking about investing more in the broader equity market instead of dividend oriented stocks.
Post: Obsessed with a financial stress-less retirement
Link to comment from January 6, 2025