AUTHOR: Michael Alberts on 2/8/2025 FIRST: Charles Moser on 2/8 | RECENT: Norman Retzke on 2/28
Comments
We are still in the workforce and contributing to a Vanguard ETF in our discount brokerage account every two weeks. On Thursday I increased our bi-weekly purchase by 50% and when I saw Friday’s drop, I invested two additional contributions ahead of schedule. In my work role as president of my local community bank, my CFO and I took advantage of lower interest rates to fund some of our pending commercial loans ahead of schedule and we lowered one promotional CD rate of ours.
This is one of the great conundrums of our age. I feel sometimes that I am on the frontline of the battle as I encourage recently promoted bank employees to raise their 401(k) contribution rate and consider Roth participation . We auto-enroll new employees at a 3% rate which rises to 8% in 1% annual increments. We provide a 50% match on the first 6% the employee saves. Rarely does a new employee stop the auto-enroll and annual increases. Our bank also provides a 7.5% profit sharing match on each employee’s salary. Unfortunately I have employees who have worked more than 20 years never having participated in the 401(k).
Thanks William. I would agree with you if I was doing work that I didn’t enjoy or I was denying myself time with family and friends, or I didn’t take awesome vacations with my wife and kids.
Thanks John! You make a great point about applying eligible military service toward a pension. I was a state employee for 12 years and had four and a half years of active duty, 18 months of which could be credited toward my pension. The state made me purchase the military service early in my career for which I’m very thankful.
Thank you! We have modified two of our three bathrooms to new, better -located sinks and vanities. We have the master bathroom to tackle with the removal of a tub and the installation of an expanded, no or low-lip shower. We are minimalists with nothing in our attic and just holiday decorations in our full basement. I was the executor for my parents’ estates and saw first-hand how ugly things could get when nine children share the estate equally.
Thanks Jeff! Point well taken. Prior to our pandemic, I had belonged to our local fitness center and was alternating between machines for upper and lower body workouts. I need to get back there.
Thanks Michael. I’ve always been someone who had a couple of options in front of him before taking that next career transition. I think I may need to take this leap with some things in place and give myself permission to adjust as we go along. I worked about 20 years in the Air Guard, as town selectman, and state representative while doing banking full-time. The future drop-off from the sole job is a challenge.
Thank you! I think we’re well-covered financially with two pensions and future social security. My pension also provides full Medicare reimbursement for the two of us. I’m thinking I need to carefully ramp up some of the activities that I’ll be pursuing in retirement. No grandchildren just yet, but my wife and I have been dropping a lot of hints.
Thank you Sundar for the link. I am trying to figure out exactly what you cite, here and in your post; how do I avoid that loss of identity with something creative and meaningful? It doesn’t have to necessarily involve a new income stream. I may not figure this out until I’m in retirement.
Comments
We are still in the workforce and contributing to a Vanguard ETF in our discount brokerage account every two weeks. On Thursday I increased our bi-weekly purchase by 50% and when I saw Friday’s drop, I invested two additional contributions ahead of schedule. In my work role as president of my local community bank, my CFO and I took advantage of lower interest rates to fund some of our pending commercial loans ahead of schedule and we lowered one promotional CD rate of ours.
Post: Tariffs and our retirement assets
Link to comment from April 5, 2025
This is one of the great conundrums of our age. I feel sometimes that I am on the frontline of the battle as I encourage recently promoted bank employees to raise their 401(k) contribution rate and consider Roth participation . We auto-enroll new employees at a 3% rate which rises to 8% in 1% annual increments. We provide a 50% match on the first 6% the employee saves. Rarely does a new employee stop the auto-enroll and annual increases. Our bank also provides a 7.5% profit sharing match on each employee’s salary. Unfortunately I have employees who have worked more than 20 years never having participated in the 401(k).
Post: Why Don’t Folks Save?
Link to comment from February 15, 2025
Thanks William. I would agree with you if I was doing work that I didn’t enjoy or I was denying myself time with family and friends, or I didn’t take awesome vacations with my wife and kids.
Post: What wisdom can you share?
Link to comment from February 15, 2025
Thanks John! You make a great point about applying eligible military service toward a pension. I was a state employee for 12 years and had four and a half years of active duty, 18 months of which could be credited toward my pension. The state made me purchase the military service early in my career for which I’m very thankful.
Post: What wisdom can you share?
Link to comment from February 15, 2025
Thanks David for this suggestion. I hadn’t thought before about service on a non-profit board. Being of service to others is important to me.
Post: What wisdom can you share?
Link to comment from February 15, 2025
Thank you! We have modified two of our three bathrooms to new, better -located sinks and vanities. We have the master bathroom to tackle with the removal of a tub and the installation of an expanded, no or low-lip shower. We are minimalists with nothing in our attic and just holiday decorations in our full basement. I was the executor for my parents’ estates and saw first-hand how ugly things could get when nine children share the estate equally.
Post: What wisdom can you share?
Link to comment from February 10, 2025
Thanks Jeff! Point well taken. Prior to our pandemic, I had belonged to our local fitness center and was alternating between machines for upper and lower body workouts. I need to get back there.
Post: What wisdom can you share?
Link to comment from February 9, 2025
Thanks Michael. I’ve always been someone who had a couple of options in front of him before taking that next career transition. I think I may need to take this leap with some things in place and give myself permission to adjust as we go along. I worked about 20 years in the Air Guard, as town selectman, and state representative while doing banking full-time. The future drop-off from the sole job is a challenge.
Post: What wisdom can you share?
Link to comment from February 9, 2025
Thank you! I think we’re well-covered financially with two pensions and future social security. My pension also provides full Medicare reimbursement for the two of us. I’m thinking I need to carefully ramp up some of the activities that I’ll be pursuing in retirement. No grandchildren just yet, but my wife and I have been dropping a lot of hints.
Post: What wisdom can you share?
Link to comment from February 9, 2025
Thank you Sundar for the link. I am trying to figure out exactly what you cite, here and in your post; how do I avoid that loss of identity with something creative and meaningful? It doesn’t have to necessarily involve a new income stream. I may not figure this out until I’m in retirement.
Post: What wisdom can you share?
Link to comment from February 8, 2025