Retirement thoughts Past Present Future

[txdon]

To be happy in retirement don't forget Social Fitness.

An 85-year Harvard study found the No. 1 thing that makes us happy in life: It helps us 'live longer'

In 1938, Harvard researchers embarked on a decades-long study to find out: What is the secret to a happy life? Contrary to what think, it's not career achievement, money, exercise, or a healthy diet.

www.cnbc.com

 

[RustyA]

So far 8 months into my retirement that has been my biggest struggle. Sold my business that had been the focus of my life the last 30 years. Miss the customers and employees we had over those years. Last day of business we had a get together with grilling and beers. Every person I had ever employed showed up for the party. It was a great get together with a lot of fun stories. I'm still trying to decide what to fill that void with... I miss it more than I thought I would.

 

[ovrszd]

So far 8 months into my retirement that has been my biggest struggle. Sold my business that had been the focus of my life the last 30 years. Miss the customers and employees we had over those years. Last day of business we had a get together with grilling and beers. Every person I had ever employed showed up for the party. It was a great get together with a lot of fun stories. I'm still trying to decide what to fill that void with... I miss it more than I thought I would.

It's hard for a man who's life was his work. But that's what made you a great man to work for.

Congrats on retirement. You'll figure this out. And you'll be very good at whatever the solution is.

 

[lman]

At some point lawmakers will kill the goose that lays the golden egg every day so they can get all of the gold inside the goose. Then what?

They'll plant more money trees. Haven't you heard about the latest budget proposal.

 

[WinterDeere]

This SVB closure is concerning. To those out there thinking your bank deposits are insured, do note that your accounts are not insured at $250k individually, unless falling into differing ownership categories, or as a trust containing multiple beneficiaries. All of your common accounts (checking, savings, money market) are considered a common "single account", and so the net sum of them is only insured to $250k.

It's not difficult for many to be well above this threshold, even in some cases many times over it. Some of the interviews with SVB account holders this morning, eg. small business owners with their business accounts at SVB, with many citing losses in the millions. If you own a grocery store, flower shop, commercial farm, private practice, etc., you're likely in the same boat.

We need more taxes...

I have to admit, I stopped reading after your first four words.

 

[Bocephous]

Link and/or summary please. Or opinion on what makes this book tick.

The Law

Summary and notes on Frederic Bastiat's 'The Law'.

www.colemanm.org

 

[txdon]

For the younger readers who haven't decided where to retire yet and haven't been convinced that taxes matter; big time.

Clean Air
Clean Water
Security (ROL)
Safety
Recreation
Hospital
Church perhaps
3+ bars on the phone...
Reasonable Taxes
Fair elections
No HOA rules
Lots of ham radio, fishing, & reloading supplies

Have to add internet, and take off no HOA.
HOA is an added option on property anyone can reject by not buying the property. So then it comes down to two kinds of people the ones who read the closing contract and those who don't. And you know what they say about people who don't read the contract before signing it. In retirement trashy neighbors are not welcomed and a HOA makes it possible.

 

[MossRoad]

This SVB closure is concerning. To those out there thinking your bank deposits are insured, do not that your accounts are not insured at $250k individually, unless falling into differing ownership categories, or as a trust containing multiple beneficiaries. All of your common accounts (checking, savings, money market) are considered a common "single account", and so the net sum of them is only insured to $250k.

It's not difficult for many to be well above this threshold, even in some cases many times over it. Some of the interviews with SVB account holders this morning, eg. small business owners with their business accounts at SVB, with many citing losses in the millions. If you own a grocery store, flower shop, commercial farm, private practice, etc., you're likely in the same boat.


I have to admit, I stopped reading after your first four words.

Doesn't help people with more than $250K in an individual bank that's FDIC insured, however, it's good to know that you can spread out the risk by using multiple banks and different ownership categories.

From here:

FDIC: Your Insured Deposits

www.fdic.gov

The standard deposit insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.​

The FDIC insures deposits that a person holds in one insured bank separately from any deposits that the person owns in another separately chartered insured bank. For example, if a person has a certificate of deposit at Bank A and has a certificate of deposit at Bank B, the amounts would each be insured separately up to $250,000. Funds deposited in separate branches of the same insured bank are not separately insured.

The FDIC provides separate insurance coverage for funds depositors may have in different categories of legal ownership. The FDIC refers to these different categories as "ownership categories." This means that a bank customer who has multiple accounts may qualify for more than $250,000 in insurance coverage if the customer's funds are deposited in different ownership categories and the requirements for each ownership category are met.

 

[jigs_n_fixtures]

This SVB closure is concerning. To those out there thinking your bank deposits are insured, do not that your accounts are not insured at $250k individually, unless falling into differing ownership categories, or as a trust containing multiple beneficiaries. All of your common accounts (checking, savings, money market) are considered a common "single account", and so the net sum of them is only insured to $250k.

It's not difficult for many to be well above this threshold, even in some cases many times over it. Some of the interviews with SVB account holders this morning, eg. small business owners with their business accounts at SVB, with many citing losses in the millions. If you own a grocery store, flower shop, commercial farm, private practice, etc., you're likely in the same boat.


I have to admit, I stopped reading after your first four words.

Just confirms that you are purposefully ignorant.

 

[alexpops]

The problem with SVB is that it may simply be the "canary in the coal mine", much like the early 2008 problems at BearSterns forewarned about systemic risks that unfolded later. Unlike the Silvergate Capital and Signature Bank failures, which were much smaller and crypto related, as the second largest bank failure in history (only Washington Mutual was bigger), SVB may be highlighting the "unintended consequences" of bank regulation after 2008.

SVB is NOT the only bank that invested in longer maturity Treasuries over the last 5 years, due to lower Reserve Requirements. Rising inflation, coupled with Fed Rate hikes, decimated the value of that portfolio. Granted, the problem was exacerbated by weak IPO and VC markets, so new deposits weren't coming in to replenish funding of withdrawals, so sales of treasuries had to be done at a loss. As the Fed rate hikes continue, more losses will occur in long maturity Bond portfolios/more banks are at risk of failing regulatory capital requirements with the mark to market rules/more bail-outs can be expected among weaker and niche market banks. Toss in a potential "deeper" recession and the problems compound. Simple economics. Be careful with "liquid" money you need to live on, and understand the financial underpinnings of the financial institutions holding your funds.

The next 18-24 months should prove interesting.