Jonathan, thank you so much for all the kind wisdom that you have shared over so many years. We are truly fortunate for your shared knowledge, generosity and grace.
Dick - very thoughtful post. Thank you for sharing. As blasphemous as it may sound, I actually chose a lump sum payout of my modest pension in late 2023 at age 59. The primary driver in my squirrelly mind was the lack of a COLA associated with my pension. Inflation had already significantly devalued my pension even before my planned claiming age of 65 and it would continue to do so throughout my retirement. Maybe this is a reasonable thing path, maybe not. Using a SPIA (or multiple SPIAs) to generate additional secure income is an option for sure. The biggest personal hurdle I see with this possible path is my deep distrust of insurance companies to deliver as promised. Their track record for being outstanding personal finance partners is questionable at best. Setting up an extended TIPS ladder is an alternative that I am considering as well. Using one has its challenges as well but at least these challenges largely are mine to control. I am not sure which path of these three I will choose (SPIA, TIPS or none of the above). Time will tell. Thanks again for sharing!
Jonathan, as always, very thoughtful advice. Thank you for continuing to share. i will add a few thoughts about the FIRE movement which is quickly dismissed by many. I retired at age 56.5 after achieving financial independence. I consider that an early retirement even though I know it pales in comparison to many of the stories in the media of the few folk who retire in their 30’s and 40’s. I am not sure if this makes me officially a member of the movement but I feel a part it. My advice to others - do not so casually dismiss the joy of early retirement. What comes after reaching financial independence is YOUR choice. There can be great joy in part work, pivoting to a passion project or actual retirement from work. Personally, I have found the freedom away from any work exhilarating. I would not easily trade this freedom as I enjoy my go go years. Do not quickly dismiss the joy of time freedom! Thanks again for all you do.
Jonathan, I am so very sorry to hear of your incredibly challenging situation. I am actually speechless. Reading your post I found myself thinking of the famous quote from Jackie Robinson: "A life is not important accept in the impact it has on other lives". You have positively impacted so many people, likely millions of people. That is an amazing accomplishment and one that should make you feel very proud. Thank you for all of your love, honesty and wisdom.
Jonathan, I enjoyed this piece very much. You make several excellent points. Thank you for sharing. As a semi-early retiree at age 56, I have fortunately been retired almost two years. As such, I am navigating many of the waters that you describe. Retirement, like anything else, has its own unique challenges. I may very well get a part-time job at some point in my journey. I absolutely reserve the right to do so if I wish. However, I will share that I have quickly grown to cherish the time freedom that my early retirement has afforded me. At this point, I am reluctant to take on anything that may hinder my joyous, largely unbridled time freedom.
I completely respect everyone's right to hold private any personal information that they wish. This includes any personal finances details that they wish to keep a secret. However, I disagree that money need be a taboo topic or even that the topic is best handled as a very private matter. We share openly about our finances with friends and family. Doing so allows us to have very open dialogues about many personal finance topics that would otherwise go undiscussed. By sharing openly we are leveraging our collective financial knowledge in a communal fashion which I believe leads to to betterment of all involved. I believe doing so helps to raise all boats with the tide. After all, all of us, collectively, are much smarter than any one of us.
Comments
Jonathan, thank you so much for all the kind wisdom that you have shared over so many years. We are truly fortunate for your shared knowledge, generosity and grace.
Post: Four Thoughts
Link to comment from March 3, 2025
Dick - very thoughtful post. Thank you for sharing. As blasphemous as it may sound, I actually chose a lump sum payout of my modest pension in late 2023 at age 59. The primary driver in my squirrelly mind was the lack of a COLA associated with my pension. Inflation had already significantly devalued my pension even before my planned claiming age of 65 and it would continue to do so throughout my retirement. Maybe this is a reasonable thing path, maybe not. Using a SPIA (or multiple SPIAs) to generate additional secure income is an option for sure. The biggest personal hurdle I see with this possible path is my deep distrust of insurance companies to deliver as promised. Their track record for being outstanding personal finance partners is questionable at best. Setting up an extended TIPS ladder is an alternative that I am considering as well. Using one has its challenges as well but at least these challenges largely are mine to control. I am not sure which path of these three I will choose (SPIA, TIPS or none of the above). Time will tell. Thanks again for sharing!
Post: Obsessed with a financial stress-less retirement
Link to comment from January 11, 2025
Jonathan, thank you so very much for sharing so much to better the lives of so many fellow human beings.
Post: Model Behavior
Link to comment from December 21, 2024
Jonathan, as always, very thoughtful advice. Thank you for continuing to share. i will add a few thoughts about the FIRE movement which is quickly dismissed by many. I retired at age 56.5 after achieving financial independence. I consider that an early retirement even though I know it pales in comparison to many of the stories in the media of the few folk who retire in their 30’s and 40’s. I am not sure if this makes me officially a member of the movement but I feel a part it. My advice to others - do not so casually dismiss the joy of early retirement. What comes after reaching financial independence is YOUR choice. There can be great joy in part work, pivoting to a passion project or actual retirement from work. Personally, I have found the freedom away from any work exhilarating. I would not easily trade this freedom as I enjoy my go go years. Do not quickly dismiss the joy of time freedom! Thanks again for all you do.
Post: Before You Quit
Link to comment from October 27, 2024
Jonathan, thank you for continuing to share so much valuable information during this highly challenging time. All the best to you.
Post: No Slowing Down
Link to comment from July 27, 2024
Jonathan, I am so very sorry to hear of your incredibly challenging situation. I am actually speechless. Reading your post I found myself thinking of the famous quote from Jackie Robinson: "A life is not important accept in the impact it has on other lives". You have positively impacted so many people, likely millions of people. That is an amazing accomplishment and one that should make you feel very proud. Thank you for all of your love, honesty and wisdom.
Post: The C Word
Link to comment from June 15, 2024
Brilliant post. Thank you!!
Post: In My Room
Link to comment from February 10, 2024
Jonathan, I enjoyed this piece very much. You make several excellent points. Thank you for sharing. As a semi-early retiree at age 56, I have fortunately been retired almost two years. As such, I am navigating many of the waters that you describe. Retirement, like anything else, has its own unique challenges. I may very well get a part-time job at some point in my journey. I absolutely reserve the right to do so if I wish. However, I will share that I have quickly grown to cherish the time freedom that my early retirement has afforded me. At this point, I am reluctant to take on anything that may hinder my joyous, largely unbridled time freedom.
Post: Fire Meets Ice
Link to comment from February 10, 2024
I completely respect everyone's right to hold private any personal information that they wish. This includes any personal finances details that they wish to keep a secret. However, I disagree that money need be a taboo topic or even that the topic is best handled as a very private matter. We share openly about our finances with friends and family. Doing so allows us to have very open dialogues about many personal finance topics that would otherwise go undiscussed. By sharing openly we are leveraging our collective financial knowledge in a communal fashion which I believe leads to to betterment of all involved. I believe doing so helps to raise all boats with the tide. After all, all of us, collectively, are much smarter than any one of us.
Post: It’s a Secret
Link to comment from February 9, 2024
Dick - once again you provide amazingly simply, yet solid advice. Have you ever considered running for public office? :)
Post: Aiming for Less
Link to comment from January 6, 2024