Warren Flick

Comments:

• We're 79 (me) and 78 (Barbara) and we're in the slo-go years. I retired early and never looked back. Bought a Honda Gold Wing and traveled throughout the U.S. three different times while Barbara was still working. Once she retired, we traveled together in Latin America, Europe, and throughout the U.S. and Canada. Our favorite travel is to rent a small house for 2 to 3 months, then use it as a base to explore a larger region. Now, although we're still living in our own too-large, two-story house, we're waiting to be accepted for independent living at a CCRC in Virginia. Once accepted, we'll sell the house and move. We're looking forward to no maintenance problems, an easily accessible social life, and priority status for memory care, assisted living, or nursing care. We'll also have an easy probate process. We're also, in a strange way, looking forward to helping one another as we age. One thing we don't do is worry about it. We've witnessed too many people pass on to worry about it.

  Post: Bracing for Evening

  Link to comment from November 5, 2023

• Richard Rohr, a Franciscan priest and founder of the Center for Action and Contemplation, posits five promises of male initiation (see Adam's Return, 2004, NY, The Crossroad Publishing Co.), all of which are relevant to investing: --Life is hard, --You are not important, --Your life is not about you, --You are not in control, --You are going to die. Your five thoughts reminded me of Rohr's five promises. With both, accept them, work in the wisdom of your limitations, and be satisfied with your life and wealth. It's something to pass to your sons and your daughters.

  Post: Taking Charge

  Link to comment from October 21, 2023

• Not much. My wife and I have learned to live happily on a modest income, and now, in our middle-late 70s, we're financially content. We no longer need a budget because our spending patterns are stable. We don't worry about money because our lifestyle is within our Social Security and pensions, so we use investment income for extras—travel, new gadgets, and gifts. If someone gave us one or more millions, we'd continue living like we do.

  Post: If money were no object, what would you change about your life?

  Link to comment from January 8, 2022

• I agree, YES, money buys happiness. But in reasonable amounts. I'm not so sure about YES in cases of big changes, as when a person inherits a big sum. Something else: people who live well with their money--earn some, spend some, save and invest--and do this over decades, learn how to use money to buy lasting, significant happiness. Using money to buy happiness is an acquired skill, I think.

  Post: Does money buy happiness?

  Link to comment from January 1, 2022

• Annuities are best if purchased late in life, as you see yourself in decline. Most good insurance companies have a high probability of lasting 10 or so years. If married, annuities can reduce the risks for your surviving spouse. Also, if you have grasping, untrustworthy heirs, annuities slow their ability to get your money before you pass. Radical simplicity is good too: one total market stock fund, one similar bond fund, maybe an international fund if inclined, and something for cash, maybe short-term bond fund or money market. And a bank account for monthly living. Still, there are the tax categories: investments, Roths, and various tax-deferred accounts. Many spouses and adult kids can learn to manage radical simplicity. Then keep an accountant or financial planner in the wings, someone fee-based, as you say, and wiling to help your family stay the course. The above is how I'm planning for the future. I'm 76, no family history of dementia, but lots of heart disease. I expect to go quickly, but some years out. So we're working together as a family to learn the above as best we can. Our son can manage the money for my wife, if I pass first. We plan to use in-home help if needed. A nursing home is a last resort. Meanwhile, we're starting to spend a little more than usual. Some trips. Leased a new SUV. Planning to move to a smaller house in the next year or two. Finally, if all this fails for some unforeseen reason, well, so be it. At least we tried. All this depends on being able to see your life as it is: to admit your inabilities, your decline when it happens, your spouses real abilities, your heirs as they really are, and so on. Without such honesty, we should probably hire a financial planner even though they are expensive. Finding one can be hard. What do you think?

  Post: Built for Ease

  Link to comment from May 11, 2021