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Do early retirees need their own apartments?
By: Retire At
Tags: Investing, Financial Independence, Early Retirement, Retirement

I live in Moscow, Russia. A year ago I sold my last apartment.

I used the proceeds to buy various assets. As of today, these assets are earning me more in dividends, rent, and coupons than I need to rent a house. The values have also gone up in value a lot.

Here is the math:

The asking apartment price is $80,000.

You can rent such an apartment today for $450

The dividend yield on my portfolio is currently about 9% (dividends, coupons and rent).

A capital of $80,000 yields $650 in dividends each month.

I can earn money. Some of it goes to rent and some of it goes to consumption.

I can also rent a place to live, which will be much better than my one-bedroom apartment.

I faced misunderstandings from family and friends. Here are some examples.

Having your own place to live is better.

I was convinced of this by the society. I didn’t try to comprehend and sort this information in my head. For some reason with my money I only owned some trashy apartments, while renting a luxury home in an ideal geolocation. I would never have bought it with my own money however — I simply couldn’t afford it.

What if the landlord threw me out on the street?

I’m the perfect tenant. Day-to-day payments, neatness, zero noise. Why would the landlord kill the hen that lays the golden eggs?

How am I supposed to do my own renovations?

I’ve had my share of renovations which cost me a lot of money. As a result, I never lived a day in a renovated apartment. The place went to my ex-wife after the divorce :)

Housing will never depreciate to zero.

Are you sure? My friends from Donetsk (Ukraine) send their regards. The guys invested all their spare cash in real estate. The city was considered one of the most promising in the country. And then one day they lost everything because of the war. Who says the same situation cannot happen in your city?

Housing is always going up in price.

Nope! In Moscow, for example, over the past 10 years, housing costs almost did not grow at all. And there are many such locations in the world.

Tell us about the situation in your region.

Can the accumulated capital cover the cost of rent?

How do your relatives feel about this idea?
Being Thankful At Any Age
By: Jo Ann Harris
Tags: Money, Social, Life, Middle Age, Retirement

Being Thankful At Any Age

Photo by Brett Meliti on Unsplash

I woke up this morning feeling fortunate that I can still wake up, get out of bed on my own, walk, use the bathroom, and care for myself. I can clean, cook, feed myself and still take care of my family. And at the same time wondering if I couldn’t do this anymore, who would be there to help. It was like a deep knife cutting into my brain.

I am sixty-nine and doing very well physically. I am in a relationship after not having one for over twelve years. We seem to hang on to each other for dear life when he comes to visit. It is as if we can’t let each other go and if we do we will fall.

He is in good condition as well and still works hard every day. He has his own business repairing homes. He works so hard he has said it is as if he is carrying the cross that Jesus held ages ago before he was crucified. Some days are that bad for him. He doesn’t charge enough for his work in my opinion but that’s his business.

We are very patient with each other and we don’t get into anything that concerns the other person unless we express a need for advice. We respect each other’s position and mental and emotional stability. We don’t get in each other’s way. It works for us. He is sixty-seven and used to be a body builder in his youth. He is very strong and healthy and he knows what is good and not good for his body. We are similar to two mature trees that stand next to each other but still lean on each other when it gets windy.
My First Tattoo
By: Brian Feutz
Tags: Poetry, Retirement, Life, Self, Poetry On Medium

My first tattoo — oh, what shall it be?

A squiggly beast from under the sea?

Or maybe a clown or my precious dog’s mug

Certainly, nothing resembling a bug

When I retire, I’ve committed to …

An object immortalized in a tattoo

The problem is that I can’t decide

What object to ink just under my hide

And where would I put it, I shudder to think

A calf or a shoulder all covered in ink

I don’t want to display it every day of the week

So it can’t be immortalized high on my cheek

My friends would say “That doesn’t suit you”

But I’d tell them “Shut up!” I will do as I do

Too much of my life has been tempered and tame

Now I’m breakin’ it loose with no regret or shame

I worked hard all my in modest employ

Like my loyal dog Rusty, I was a good boy

But retirement, damn, I’ll be raising hell

You’ll hear all about it when I jump from my shell

It will represent something much bigger than me

A beacon that broadcasts irrevocably

A transformative mark shouting “I am the man!”

And “Don’t mess with me brother, or Alakazam!”

So, I’ll pick something sinister, evil, and best,

I will wear it emblazoned all over my chest

On my last day at work, I’ll unveil my tat

They’ll all wish they could be as badass as that

Now the artist commands me to make up my mind

She’s has customers waiting and isn’t too kind

Under pressure my life flashes by in a buzz

And I see that I’m happier just as I was

So, I think I will go with the squiggly beast

My rebellious desires abruptly released

He’ll be modest and green as a sea beast should be

Frolicking happily over my knee

Will it hurt?
A Brand New Day!
By: Ann Litts
Tags: Time, Aging Well, Letting Go, Baking, Retirement

Usually, this time of year finds me hustling and bustling about — mostly in the kitchen. Baking cookies and sending them as gifts were both one of my most beloved traditions and a huge pain in the ass.

This year I let go of it. I decided I’d only make the cookies my family loved. And yet — there I was yesterday — trying out a recipe for a whole new cookie experience. With Rum. And they turned out really great!

The day before that, I made cloverleaf rolls from scratch. My daughter has her mother-in-law’s recipe and it is completely no-fail if you have any baking DNA.

I found myself wanting to do this labor of love. Not because I had to squeeze it in around the edges of an already packed out schedule, but because it was fun!

I’ll still put together a couple tins of my baking wares for a few very loved and local friends. I’ll take the rest to my granddaughters next week. Okay, well maybe NOT the rum balls — but her mother will help me eat those!

And that is the other piece of not keeping Time — you find you can do whatever you want. If I want to go visit my family for a week — two — maybe even three — I don’t have to get anyone else’s permission.

I am free. Just. Like. That.

That is the way I look at it. Some Humans might be a bit lost without their schedules, day planners, and calendars. I’m okay milling about each day as it arrives.

But then, I’m a Sagittarius. With several planets also in Sagittarius. The love of freedom and wandering is literally written in my stars.

So happy hump day or TGIF — whatever day it might be where you are. For me today is simply — Today.

Namaste.
No more Uber driving for me
By: Ron Wayne
Tags: Gig Economy, Part Time Jobs, Gigs, Retirement Living, Retirement

Too many risks during pandemic, but it was an interesting experience.

As an early retiree, I expect to need extra income to supplement my Social Security and state pension. So I might try to find a part-time gig (unless my Medium posts start to generate active support from subscribers!). But one job I will not do again is driving for Uber or any similar service.

The threat of the Covid virus is enough to keep me exploring other options. When I drove before, I would sometimes deal with obstinate passengers, whether drunk or simply arrogant. I had students who wanted to pack a fifth person on a trip when they knew the car’s limit was four. Some passengers wanted to throw items from the car at fans of the opposing team on a game day.

Today, I can imagine a passenger taking off their mask after they get in. I could stop and tell them to exit but what would I have already risked in the small space of a Mazda 6?

Apparently a majority of Uber drivers are over 50 with many over 60, according to this article. Obviously, it is (or was) a good choice for retirees to pick up some extra money as you can set your own schedule. There is a lot to be said for that. Gator football weekends were prime hours to make some bucks as there is a huge demand. But it’s not always gravy, as this story points out.

Before I quit carrying strangers in my car a few years ago, I wrote a humorous column about my experience as an Uber driver, and the opinion page editor of my local paper kindly published it on the front of a Sunday section. It’s not easy to write humor, but facts are often funnier than fiction, and everything in the column is the truth. I compared myself to the fictional Travis Bickle character in the movie “Taxi Driver.” I was so pleased when a local writer for whom I have respect told me it was the best thing in the Sun that day.

Gainesville Sun column

What had not yet happened when I penned the column was inevitable. A student later vomited in my back seat! She did it so quietly that I didn’t notice until she and her two friends asked to exit the vehicle before we got to the destination. No mention of what had happened or an apology.

I appreciate all those who continue driving for Uber, Lyft and taxi companies. It’s an important service, but not one I want to repeat for more than a few reasons.
Number One Retirement Concern for Americans
By: Provise Management Group
Tags: Retirement Living, Retirement Plans, Retirement Planning, Retirement

Retirement is a significant life shift. When it’s intentionally planned for, your golden years can be just that — golden. But when retirement sneaks up on you, you may find yourself in less-than-ideal financial constraints that limit you from the lifestyle you thought you’d be enjoying at this time in your life.

According to a study conducted by the American Institute of CPAs (AICPA) in 2019, 48% of people are concerned about outliving their retirement funds. This study was taken to determine the top concerns people approaching retirement have about the upcoming season of their lives.

Coupled with a study from CNBC that states about half of adults between 18 and 34 are not saving for retirement at all, it’s easy to correlate that fear of not being financially ready for retirement with this late start in planning.

What can you do to financially prepare for retirement?

Your retirement planning strategy will shift depending on your age and financial situation. That being said, there are some key principles that you can follow in order to maximize your retirement investments as you age.

Contribute to your retirement as soon as possible. Retirement funds like IRAs and 401(k)s work on compound interest. Therefore, the sooner you start and the more you have invested, the more (and faster) it will potentially grow. So, even if you start investing a small amount in your 20s, it will compound on itself until your age of retirement. Ramp up your contributions in your 40s and 50s. Once you reach the age of 40, you should be maxing out your annual retirement contributions. In 2019, the max annual contribution for a 401(k) account is $19,500. Once you reach the age of 50, the maximum contribution amount increases to $26,000. Have an optimal draw-down strategy. Many people plan for how to get to retirement, but not how to use their retirement funds once they are there. Withdrawal taxes can take a significant amount out of a retirement fund, which can cut drastically into cash flow. As AICPA says: “It’s critical to be mindful of retirement withdrawals bouncing you into a higher tax bracket, affecting taxes on Social Security benefits, and triggering higher capital gains taxes and other adverse tax consequences.”

Take control of your retirement planning

It’s never too late to take control over your retirement planning. Our CERTIFIED FINANCIAL PLANNER™ professionals can create a strategic financial plan based on your current financial situation and your retirement goals. We will work with you to determine the best rate of contribution for your retirement plan, as well as an aggressive debt payoff and investment strategy to help you achieve financial health in your golden years.

Contact us today to schedule a complimentary consultation.
Should You Collect Social Security Early?
By: Mark Kemp
Tags: Social Security, Mark Kemp, Retirement, Finance

When working people near retirement age, they often wonder whether they should collect social security early or wait until they hit the normal retirement age of 67.

While they can collect social security benefits, the question is, should they? The best thing a person on the cusp of retirement can do is speak with a social security professional to find out their options. Several rules apply to collecting social security, and many may not be in the best interest of those who cash in early.

Theoretically, individuals can apply for social security starting at the age of 62. But they should also be aware that their monthly benefit will be reduced by as much as 30%. that is nearly two-thirds of the money being left on the table. People who may not be in the best financial situation should really think this through.

Taking the money is very tempting, but health, lifestyle, and longevity should also play a role in whether or not a person claims their benefits. For every year a person delays retirement, 8% is added to the monthly benefit amount. That’s a lot of money to simply give away.

The Social Security Administration offers a chart to show retirees exactly how retirement age can affect your benefits. Here’s an example:

Jane is a single, 62-year-old woman who wants to file for social security. Her monthly benefit for retiring at 62 is 1,420. If she waits about four and a half years and retires at the age of 66, her benefit goes up to $2,000 a month. If she opts to wait until the age of 70, the benefits are $2,560. So, Jane potentially loses nearly $1,000 in monthly benefits for retiring early.

Another thing potential retirees should consider is that they cannot receive Medicare benefits until they have reached the age of 65. So if they have to pay out of pocket for medical expenses, there won’t be much money at the end of the month.

So, to answer the question: no, individuals should not apply for benefits at the age of 62. There are no real advantages. In fact, health, lifestyle, and finances could be affected negatively.
I pretty much agree with you here. Bat shit crazy or not.
By: John Magilke
Tags: Retirement Living, Retirement

I pretty much agree with you here. Bat shit crazy or not.

I am going to retire from my J.O.B. in the spring. I’ll do some writing and saw logs on my sawmill for other people.

So yeah, I’ll still be working; but I’ll be doing what I want.

That is the key, me thinks!

Hopefully, I can continue to do these things for another 20+ years before I start walking into walls & falling down steps!
Omaha to have new City Attorney, following the retirement of Paul Kratz
By: Codex Omaha
Tags: City Prosecutor, City Council, City Proclamation, Retirement

Omaha to have new City Attorney, following the retirement of Paul Kratz

The Omaha City Council extended their best wishes to long-serving city attorney Paul Kratz who is entering retirement December 11. The council presented a proclamation, which had the Official Seal of the City of Omaha affixed, and stated the accomplishments by Mr. Kratz.

Paul Kratz, Omaha City Attorney in his last city council meeting.

At their regular meeting on Monday, December 8th, Mr. Kratz stated the following:

“It’s been enjoyable working with this council. You guys work very well together; you’ve worked very well with the mayor. Contrary to my first council in 1998, that Ben [Gray] knows and Brinker [Harding] knows, we had some very difficult times working together. So I am glad that everybody can get along now. Good luck to you and keep Omaha good. Thank you.” — Paul Kratz

Watch the formalities presenting the proclamation the Paul Kratz.

Some facts in the proclamation:

•Paul Kratz graduated from he University of Nebraska Law School in 1975

•After working in private practice and for the Nebraska Department of Labor, Mr. Kratz was hired by Mayor Hal Daub to be the City Attorney for the City of Omaha in 1998.

•Mr. Kratz has Served on numerous boards and committees to include the American Laboratories, Inc. Board of Directors, Conrhusker Football Breakfast Club of Omaha, Dubuque Packing Company Board of Directors, the Certificate Need Review Committee, and the Presbyterian Church of the Cross.

•Mr. Kratz enjoys volunteering his time and being active with the Shriners, the Scottish Rite, the Presbyterian Church of the Cross, YMCA Youth Basketball and Baseball, and the Nebraska and Douglas County Republican Parties.

•Mr. Kratz has been instrumental in several significant City of Omaha projects to include the Bob Kerrey Pedestrian Bridge, TD Ameritrade Park, the College World Series, the city-owned Hilton Hotel, and the arena and convention center.

•Mr. Kratz enjoys spending time with his wife, Diane, his two adult sons, Jeff and Gregory, and his five grandchildren.

•Mr. Kratz will retire December 11, 2020, after 22 years of service to the city to enjoy his family and other interests.

All council members were present: Aimee Melton, Pete Festersen, Brinker Harding, Rich Pahls, Ben Gray, Council Vice President Vinny Palermo, and Mr. President Chris Jerram for the send off. Through out the meeting, several supporters of various agenda items also congratulated Mr. Kratz on his service to the City of Omaha.
There is a closely related aphorism (I don’t remember the author’s name) that complements this…
By: József Manhertz
Tags: Lifestyle, Work, Life Lessons, Work Life Balance, Retirement

There is a closely related aphorism (I don’t remember the author’s name) that complements this inspired view well: 'Retirement is not a retreat from something, but a retreat to something.'
Saving Money and Budgeting During the Holidays
By: Kristian Finfrock
Tags: Personal Finance, Finance, Money, Kristian Finfrock, Retirement

It can be tempting to splurge on gifts during the holidays, especially in the wake of massive sales in stores and online, but the holiday season is a time where you should prioritize saving as the new year approaches. Fortunately, there are plenty of tried-and-true ways of saving money during this time.

Set a Budget

The simplest and most effective means of saving money during the holidays entails setting a strict budget and actually sticking to it. A holiday budget is different from a standard budget because most of the purchases being made will technically be non-essentials. When setting this budget, it is important to include all holiday-related expenses including gifts, food, travel, decorations, and even cards and stamps. Adding in some flexibility for impulse purchases or last-minute gifts can help save some stress later on, as well.

Don’t Forget Your Retirement Plan

Holiday spending can add up rather quickly and your retirement plan shouldn’t take a hit because of it. When you’re preparing your holiday spending budget, make sure you’re still factoring in room for your retirement savings; even if you decrease your monthly contributions a little. Keeping a consistent flow is key to maintaining the health of your retirement savings during times where you’re spending more than you typically would.

Spend Strategically

If you are doing any shopping in brick-and-mortar stores, it is advised to pay with cash. Keeping a set amount of cash on your person will prevent you from overspending; when it’s gone, it’s gone! For those who aren’t fond of cash or who plan to do most of their shopping online, credit cards can be dangerous. In general, credit cards should be used in place of cash; avoid buying anything you can’t actually afford and pay off balances in full when possible to keep your credit score healthy and avoid unnecessary holiday debt.

The holidays can be a stressful time, especially for individuals who are worried about their finances. Taking these tips into account can help prevent unnecessary stress and ensure the gift-giving aspect of the holiday season is affordable and successful.

Securities offered through Kalos Capital, Inc. and Investment Advisory Services offered through Kalos Management, Inc., both at 11525 Park Woods Circle, Alpharetta, GA 30005, (678) 356–1100. Retirement Income Strategies is not an affiliate or subsidiary of Kalos Capital, Inc. or Kalos Management, Inc.

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To read more from Kristian Finfrock, please visit kristianfinfrock.co
Retirement: How Much Does It Actually Cost?
By: Htl Insurance
Tags: Retirement Planning, Investment, Taranaki, Kiwisaver, Retirement

It’s a question that you should have the answer to well before you hit your golden years.

Our first-hand experience (and research) suggests that cracking open your piggy bank and relying on your mortgage being paid off won’t cut it.

Unfortunately, there is no silver bullet answer, for obvious reasons. We all live different lives, enjoy different foods and experiences. The way that we commute varies. Some people live on a lifestyle block and others live in an apartment. Also, we hope to retire in different ways, some have lived the high life while working and just want to settle into home life and live in their community. For others, retirement is a time to explore the world, both internationally and in NZ.

Step one:

Let’s look at how long until you retire…

Take stock of how many years you have until you want to retire. Most people aim to retire by the time they are 65 years old because this is when you are able to access super funds from your KiwiSaver and qualify for NZ Super.

And how long do you need to plan for?

We all want to live forever - which may be an option in the future - but for now, we have to think about the fact that we are living longer. Average life expectancy in New Zealand is 81, but most recommendations suggest planning to live to 94 for women and 91 for men. With medical advances, by the time that generation X, Y and Z retire it might be worth pushing this out even further to ensure you have enough. Which means you’ll need even more funds at your disposal to get you through these years in comfort.

So let’s talk about how much you might need…

It’s time to sit down and figure out your budget. You also need to think about what your goals might be in retirement — Travelling to new places? Lunching with the ladies? Golfing with the guys? Joining clubs? Going out to dinner and shows?

You have to keep in mind that retirement can be (and perhaps should be) an extremely fun time of your life. With many of life’s stresses past you, children have grown up, mortgage paid, possibly an investment property or two.

A report from Westpac and Massey suggests that a single person will need anywhere between $1200 and $2400 per fortnight depending on the level of comfort that you expect and also depending on your location. Taking the extreme end of this example: $2400 per fortnight for 30 years, that’s $1.8 million.

So where’s all this money coming from?

On the positive, you reside in New Zealand and we have NZ Super, which is a fortnightly payment from the government for qualifying retirees from age 65. The amount varies depending on your tax code, marital status and whether you are living with another retiree or not. The great thing is that currently, NZ Super is not means-tested, so regardless of your savings or earning you should expect an amount of NZ Super to supplement your retirement.

You can check out the current rates, updated on 1 April annually.
End of Year Retirement Strategies
By: Kristian Finfrock
Tags: Personal Finance, Retirement, Money, Kristian Finfrock, Finance

As the end of the year approaches, the time comes to evaluate your retirement plan and amend any lapses where you didn’t take advantage of what was available to you. It is key to audit your retirement plan and make any changes or new contributions before the year comes to an end, as you could stand to miss out on financial benefits and added security when you retire. Here are a few strategies to employ if you haven’t already.

Max Out Your 401(k) Contributions

The deadline for 401(k) contributions is the end of the year. For individuals below the age of 50, the contribution limit for 2020 is $19,500; anyone over the age of 50 can make an additional $6,500 catch-up contribution. Contributing to your 401(k) not only helps prepare you for your future; it can also decrease your tax bill.

Take Advantage of CARES Act Provisions

Individuals over the age of 72 are typically required to take distributions from their 401(k) plans on an annual basis, risking penalties if they fail to do so. However, a CARES Act provision allows retirees to skip minimum distributions this year. Retirees who do not need the extra money should leave their retirement funds alone, as this will save them money when it comes time to file their taxes and will ensure they have a larger fund to draw from in the future.

Keep Contributing to Your IRA

While contributions to your 401(k) are due by the end of the year if you want to count them on your 2020 taxes, you can keep contributing to an IRA until April 15 of 2021. You will need to indicate that contributions made after the start of the new year are for 2020 for them to be counted when you file your taxes.

Make Some Charitable Donations

Prior to the end of 2020, you may consider contributing to charities; the CARES Act allows individuals to claim a higher amount of charitable donations on their taxes for 2020, and these donations can be deducted from your tax bill when you file. Those with an IRA can also directly withdraw funds from their IRA and donate them to charity; this is considered a QCD (Qualified Charitable Distribution) and can count towards your minimum distribution, so individuals who have already withdrawn funds from their retirement accounts can deduct these direct donations from their taxes when they file next year. Keep in mind that there is an age requirement of 70 ½ years to request a QCD.

Securities offered through Kalos Capital, Inc. and Investment Advisory Services offered through Kalos Management, Inc., both at 11525 Park Woods Circle, Alpharetta, GA 30005, (678) 356–1100. Retirement Income Strategies is not an affiliate or subsidiary of Kalos Capital, Inc. or Kalos Management, Inc.

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To read more of Kristian Finfrock’s insights please visit kristianfinfrock.net
Excellent piece Marc and awesome way to redefine retirement.
By: Ryan E. Poole
Tags: Retire, Work, Life, Attitude, Retirement

Excellent piece Marc and awesome way to redefine retirement.

I was on my way to spiraling out of control to depression when I was forced to close my office in March 2020. I felt like I was watching 3 years of work and $250,000 worth of investment just go up in smoke.

Then I received the equivalent of retirement pay and benefits in July and “voluntarily” retired at 49.

I have to admit it’s been ROUGH readjusting and changing my thought processes.

Ryan E. Poole
Investment — Part 2 — Optimization Strategies
By: Jeff Axup
Tags: Stock Market, Retirement, Stocks, Investing, Finance

This article is part of a series on investment strategies: Part 1 | Part 2 | Part 3

To extend the introductory discussion provided in Part 1, the following are a list of optimization strategies and tips that I am aware of, or have personally used to increase returns.

Profit = Total amount of exit — Total amount initially investedAnnualized

Profit = Profit * (Number of days invested / 365)

Example: The higher return is mitigated by the extra time needed to exit, resulting in a similar annualized return.

Thus, when evaluating potential strategies (or hearing stories about others’ wins), you should always look at annualized returns, which provide a more complete picture.
After I worked in a white-shoe tax office where I constantly saw people who lived in these dream…
By: Rachel Presser
Tags: Retirement

After I worked in a white-shoe tax office where I constantly saw people who lived in these dream homes with $300K-$5M incomes and were the most miserable fucks I’d ever seen,

coupled with god knows how many younger Boomers and older Gen Xers who basically just wasted their entire lives slaving for their employers and sacrificing ANY enjoyment just to lose it all in 2008…if not now?

Yeah, I’m not buying the whole retirement SCAM.

it’s simply impossible to save that much with our nerfed incomes and high living costs; Boomers had more proportional living expenses and things like defined-benefit pensions that at least made some miserable job worth it…if those funds weren’t raided by the owners, or you didn’t need to tap them for medical bills. You truly have no control over how this plutocracy screws you. You can do everything “right” and all it takes is an accident or cancer diagnosis to siphon what little wealth you have to the rentier class.

It’s a scam. I save what I can, but I’m more concerned with building my IPs that I own and will pay royalties the rest of my life than shoveling it into what’s essentially a burning casino.
Retirement Rocks!
By: Ann Litts
Tags: Aging, Rest, Family, Self Care, Retirement

The biggest and most important perk I collected with my gold watch is that I can visit my granddaughters anytime I want. I just got home from spending two weeks with them. That is the longest we have been together. Ever. Most of the time it was a long weekend here and there. When we were really fortunate, I’d get a week off. But I always had to have someone else’s permission to be with my family. No. More.

I sleep better now. I go to bed when my body tells me to and wake up when the sun streams in through my windows. No more alarm clocks — ever! I cannot adequately relay to you how HUGE this is for me.

I have to consciously sort out what day of the week it is. It’s true. Every day is that first day or second day of vacation — you know the one? Where you don’t really have to be concerned about being home in time to go back to work. I can lose myself in space and time. Will I miss some appointments in this new state of mind? Likely. Next question — will I care? NOT LIKELY.

I no longer hold anyone else’s life in my hands. I’m officially a civilian. I have written before about putting down The Weight of my career. I want to reassure everyone out there — I don’t intend to torture myself by ever picking it back up again. The responsibility of being a nurse — understanding that any mistake on your part could potentially end someone’s life — is enormously stressful. Is it any wonder we burn out? No one can live in that pressure cooker for long.

I have Time. All. Of. It. I have a schedule that loosely revolves around my grandchildren’s desires and my own. Right now the most pressing thing happening is that I have an appointment to get my hair colored — in January. I have read books. I have colored. I have practiced self-care. All with no agenda, no meetings, no timeline.

I can simply Be.
Here is Why Khabib Nurmagomedov Might Not Retire
By: Tomislav Zivanovic
Tags: Comeback, Khabib, Khabib Nurmagomedov, UFC, Retirement

What are potential comeback fights?

Khabib has answered all the questions and he doesn’t have anything to prove to anybody. If he sticks to his decision to retire, then we must all stand up and applaud the greatest 155lbs fighter that has ever lived. But in case of a comeback, there are a couple of potential matchups for Khabib.

Khabib vs. GSP

The first and the most likely one is a fight against George St. Pierre. In fact, we believe this is the only fight that may force Khabib to change his mind. It is a fight his father saw as Khabib’s last one that will prove he is the best fighter that has ever lived. Yet, putting this fight together is not going to be easy as far as both parties are concerned.

GSP has been out of the sport for almost three years now and is 39 years old. In our opinion, this is not a huge problem for GSP. He showed us that “ring rust” plays no factor in his case.

He came back after a four year layoff to face and win the UFC 185lbs belt against Michael Bisping in 2017. Even if we assume that ring rust plays no factor here, we still need to determine which weight class the two would face each other. There is no way GSP is going down to 155, and the fight will probably be at 170 pounds.

Khabib vs. Ferguson

Booking this fight for the 6th time is highly unlikely even though it sounds reasonable. Most of the fans have accepted the fact we probably won’t see these two fight in this life, and it breaks our hearts.

Ferguson gambled by accepting the Gaethje fight on short notice, and he lost big. In some scenarios, Ferguson might bounce back with a strong win and get back in the mix again. Khabib is not hiding from him and it’s not a secret that he likes that matchup. I mean, Ferguson is the only fighter from the top 5 Khabib hasn’t beat yet.
Planting Seeds. Figuratively and Otherwise.
By: Marti Wukelic
Tags: Enjoying Life, Whimsy, Retirement

So last evening, right before I went to sleep, I had a image/idea about how I want this post-retirement phase to look and feel. Those of you who are visual learners will get it. Those who tend towards words will question my mental state. You may both have a point.

Okay, here goes:

This lovely garden scene is how we’d generally like for our ‘best case scenario’ life to be.

This, however, is how I want mine to be.
Retirement Ages for Board Members
By: Jonathan F. Foster
Tags: Board Of Directors, Business, Retirement

Although the United States generally does not mandate retirement at a certain age, specific industries and occupations have such requirements, including for airline pilots. Statistics show that 63% of workers retire between the ages of 57 and 66, with 62 as the minimum age to collect social security. For boards, older directors are often more experienced and can be valuable assets if they remain engaged. However, some boards have discussed retirement age’s value to refresh the board and bring in new talent.

As previously noted in my piece on term limits, it is important to refresh boards, but a retirement age is not the most effective way to do so. A long-term board’s institutional memory can add to its effectiveness and credibility.

I believe that a far preferable alternative to term limits is a detailed annual assessment of each director and having ineffective directors step down. While there is no reason to embarrass anyone, a board appointment should not be a tenured or guaranteed position. Certainly, senior executives are similarly evaluated each year.

Experienced directors can be effective beyond the typical retirement age and well into their 70s. Longer life expectancy and easier access to information can help keep a director quite current on industry and company trends, market data and the like. However, a director whose only business interests become a few board memberships can quickly become dated. Therefore, I have reluctantly come to the view that a retirement age of 75 is generally prudent.

Of course, even with mandatory retirement, boards shouldn’t have to wait to replace directors if they do not perform well. It is not fair to the shareholders, management, and other board members to retain an ineffective director. Again, annual evaluations of individual directors are critical.

Procedures related to such evaluations should be outlined and executed by the governance committee, as noted in this prior piece. Key metrics to test for in these evaluations include attendance, commitment, relevant skills, and contributions to the board. The governance committee is also responsible for continuing education efforts to help maintain and even improve the directors’ skill sets.

Keeping a board refreshed is important, but mandatory retirement ages or term limits are not the most effective, primary ways to do so; yearly individual director evaluations are.

Jonathan F. Foster

Founder — Current Capital Partners LLC
What does money mean for you?
By: Jennifer Thompson
Tags: Money, Personal Finance, Legacy, Retirement

David and Donna Jenkins were a retired couple in their sixties with a beautiful home and a healthy nest egg.

David was an engineer who worked for the government for 35 years. Donna taught elementary school for 30 years. They lived off a great pension.

They had two adult daughters. Sarah was independent and worked at a local college. Jenna, a single mom on social assistance for most of her adult life, had three sons — ages 8 to 12.

Not only was she unable to hold a steady job, but she also moved every other year, with those three boys in tow.

It bothered Mrs. Jenkins to see her grandchildren live with so much instability. She and her husband decided to buy a house for Jenna and the boys to live in.

More than numbers

Most of their money was in registered retirement accounts. It was saved for their retirement. Withdrawing large amounts from it all at once would have resulted in a massive tax liability.

The only way to buy the house was to get a mortgage. This was a compromise for them. Especially after having been debt-free for twenty years.

Their advisor had made some retirement projections for them years ago. There was no way she would have included this expense. Who plans for this?

The financial industry looks at money from a numbers-based perspective. How much you will need for retirement, the down payment on a home, or your children’s college education. The prescribed list goes on.

On the day his daughter and grandchildren moved into their new home, David Jenkins came in to see his banker

He told her how excited his three grandsons were to move into their new home. The eight-year-old looked up at his granddad in utter disbelief and said, “You mean I get a bedroom all to myself?”

It was the first time those boys were going to have a chance at some stability and a bedroom of their own.

With tears in his eyes, he thanked his banker for getting the mortgage for him.

More than paper

Money is far more than the paper it’s printed on. And it is far more than numbers. For some people, money is power and prestige. For others, it means freedom and flexibility. It could mean safety for an abused woman or security for a single mom. But it could also keep people trapped in a dead-end job or an abusive marriage.

Money is more than paper, it’s the meaning we’ve ascribed to it that gives it it’s power. So, what does Money mean for you?

It was the first time those boys were going to have a chance at some stability and a bedroom of their own. Money is a tool. You use it as you desire.

What would you use it for?

This article contains links. I may receive a commission should you decide to purchase the products from these links.

Some material on preparing for your retirement.

The Five Years Before You Retire: Retirement Planning When You Need It the Most.

The Ultimate Retirement Guide for 50+: Winning Strategies to Make Your Money Last a Lifetime.

Jennifer Thompson is a life and wealth coach. For her, money is both freedom and fun. To connect with her write to jenniferthompson@compelling365.com
FIRE and Digital Nomads
By: David Ferrara
Tags: Digital Nomad Lifestyle, Travel, Financial Independence, Fire, Retirement

Why does it seem like these two groups exist completely separately on the internet, and there is no crossover?

It seems to me that these should be two groups that fit together naturally. There may be a ton of people that see the crossover and, in fact, are putting it into practice. Still, I don’t ever seem to see the FIRE communities online discussing digital nomadism or the digital nomad’s online discussing FIRE.

I think they should. They can benefit a lot from each other’s knowledge.

FIRE

We all know what financial independence retire early (FIRE) is. Through a combination of frugality, saving, and investing, a group of people plan to replace their current income so that they can retire early.

Some retire early; some just decide to start working for themselves, some just like having the security of not worrying about money.

The key drivers that can make FIRE go faster are 1) increasing your saving rate and 2) lowering your expenses. As obviously, the more you save, the faster you hit your goal. And the less you spend, the lower your goal actually is.

That seems to me to be why it is a natural fit with Digital Nomads.

Digital Nomads

What is a digital nomad? Well, someone that can work remotely. And they generally choose to work in lower cost countries around the world so that they can keep their expenses down.

Basically, they use the fact that they have remote jobs to practice geographic arbitrage. They have first-world income and third world cost of living.

Therefore increasing their savings.

Are you seeing it yet!

If you are on the FIRE path, you can drive down your expenses by becoming a digital nomad; you can FIRE faster!

Or vice versa, if you are a digital nomad. You can take advantage of that geographic arbitrage spread, take that money you are saving, and invest it. So, you can set yourself up with financial security.

Barista Fire

Here is how you piece them together in a practical, real-world example. You go down your FIRE path, saving, and investing.

But instead of spending years saving enough to settle down in your high cost of living area. You save enough for a lower-cost country. Then instead of retiring, you convert to a digital nomad job.

For FIRE aficionado’s this means you can stop the grind a little quicker. For digital nomad aficionado’s, you have a lot more security and financial flexibility as you live your dream digital nomad life.

Delayed Gratification vs YOLO

I think why the two never connect the mindsets of the two groups are polar opposites.

FIRE is all about delayed gratification and putting in the work for a better life later. So, the idea of cutting short the grind doesn’t even enter into the mind of those that gravitate this way.

Digital Nomadism is all about why wait until I am old and gray before I can travel the world and live the way that I want, unshackled by a 9–5 job. So, why would I wait a second longer than it takes to save enough to buy the plane ticket and first month’s Airbnb… let alone work a few years to save up a nest egg to make my future life easier.
Simplicity
By: Jeanne Savelle
Tags: Self-awareness, Mindfulness, Life Coaching, Personal Development, Retirement

I have been thinking a lot these last few weeks about simplicity. It keeps coming up in various places. It got me thinking about how this COVID year has forced us to slow down, and to speed up.

We have slowed down physically.

We don’t move around like we used to. No jumping on a plane for a weekend trip or even dashing into the local grocery to pick up a few things. Every time we leave the house, it is deliberate and prepared. Spontaneity has been abandoned.

Our social lives have slowed.

No more dropping by for a chat or to share some wine and food. No more hugs and kisses or handshakes or fist bumps. Our limited and isolated interactions are covered in hand-sanitizer and face masks.

For many, personal finances flat out stopped.

We don’t spend with abandon now but hold onto precious dollars and worry about next month’s bills.

On the other hand . . .

Our home lives have sped up.

Parents, working from make-shift offices, are now teachers. Kids, zoning out on Zoom, are now Guinea pigs for technology companies.

Our mental and spiritual resources have been stretched beyond all imagination.

Dealing with multiplying stresses has forced us into overload. This is nowhere more apparent than with medical, front-line, and essential workers.

Technology hurtles along at its relentless pace.

We have to keep up. Zooming. Googling. Facebooking. Instagramming. It’s how we stay connected and relevant. If we are not online, we are invisible.

We are all exhausted.

Even me. I am retired. I don’t have a ‘job’ or have kids or grandchildren. I don’t personally know any medical, front-line, or essential workers. I have friends I miss, and I don’t live the same life I did last year, but the impact is much less.

However, I feel the pressure too.

I exist on Zoom. I should be on Facebook more, checking in with every connection. I must Google ways to help, contribute, alleviate accumulating pains. If not, am I visible and relevant?

But, what if we just stop?

All of it. Everything.

For 5 minutes. Stop. Breathe. Let the stresses of the world recede. For just a few minutes.

Try it now.

How does it feel? Does it give some relief, even if it seems ephemeral?

What if the universe is sending us a message?

Slow down. Let go. Be still.

Maybe we should listen.

We might find space to breathe, to rest, to think, to connect, to love. 5 minutes at a time.

Could we learn how to live in the world, in the moment, in the now, no matter what happens around us?

What if this is the perfect time to learn how to live, simply, or to simply live?

I invite you to reach out. We can struggle and adapt together.
5 Years of Early Retirement with Brad Dantonio on THE JOSEPH WELLS PODCAST
By: Man Overseas
Tags: Joseph Wells, Financial Freedom, Man Overseas, Podcast, Retirement

5 Years of Early Retirement with Brad Dantonio on THE JOSEPH WELLS PODCAST

This week, I, Brad Dantonio aka Man Overseas, guest on The Joseph Wells Podcast. I’m forty years old and have been retired for five years. I took a year off just prior to my 35th birthday to travel the world and never returned to the workforce.

In normal times, you can find Lady Overseas & I traveling the world, living off passive income from rental properties and other investments in the US. In COVID times, Lady O & I have temporarily settled in New Orleans while we await the birth of Baby Overseas!

Joseph and I became fast-friends two years ago when he quoted me on Twitter. Since then, I’ve met Joseph in New York City and we talk on a regular basis. I often look to Joseph for a millennial’s perspective on business & investing. I’ve always emphasized the importance of having friends of all ages, and it’s not often you meet someone on the same path as yourself — only 12 years behind (Joseph is 28 years old).

Joseph knows to achieve FIRE it takes a special persistence and determination — what the late Kobe Bryant calls a “Mamba mentality.” He knows all the learning, growing, journaling, saving & investing, will ultimately pay off.

Joseph believes I’ve put myself in what J.L. Collins calls “The Fortress of Fuckin’ Solitude.” That is, living the rest of your days in the glorious Position of Fuck You. (Life was meant to be lived no other way.)

In this wide-ranging discussion, Joseph and I discuss financial freedom, journaling, parenting, social media, and much more.

Please enjoy!

Life Now

Homeless & Unemployed

Expecting our first child

Renting a house in New Orleans

OB/GYN friend near New Orleans

Splitting time between Mexico & New Orleans

Staying in AirBnB’s for 30 days at a time

Life without a primary residence

Improving my skillsets while traveling

How much money do you need to retire?

What I did with the money for the porsche

[Not] Returning to Work

Disconnect when returning to the workforce

Businessmen who earn by serving others

High conscientiousness & desire to be great

Hiring bold salespeople who take calculated risk

Sales managers want leverage over salespeople

Holding yourself to a higher standard than your boss

When I talked to “the girls in HR” before joining start-up

I had zero scholarship offers out of high school

I had zero job offers when I graduated from college

Benefits of reflecting on your experience to get better

What kind of idiot walks away from “this kind of money?”

Whether my decision to take a year off from work “backfired”

Working with someone whose values don’t align with yours

Questions a hiring manager can ask when looking for “needle in the haystack”

Deeper Questions About Life

Second half of the interview can be found

Visit JosephCWells.com/podcast/brad-dantonio

Listening options are available here: https://www.manoverseas.com/5-years-of-early-retirement-with-brad-dantonio-on-the-joseph-wells-podcast/