When you retire and begin to support yourself with portfolio withdrawals, life changes for your portfolio as well as for you. There are new risks, taxes, and other considerations for your investments; new questions about how best to raise the cash. Often there are unexpected emotions that arise as you draw down assets, causing cracks to appear between funding your retirement dreams and wanting to make the money last. A retirement cash-management plan can help bridge the gap.
The Carpenter Who Never Retired
A recent Wall Street Journal article, When Will I Retire? How About Never, asked the question, “What drives people to keep working long past the age when they could comfortably leave the workforce? What benefits are they gaining that those who retire might miss out on?”
The article highlighted examples of several people pursuing very different careers well past traditional retirement age and made me curious: what would the AI program Chat GPT-4 think about the idea of not retiring? This led to the conversation below, completely unabridged. The prompts are mine, everything else is Chat GPT-4.
Encore! – We May Need More Than Three Acts
The Center for Disease Control & Prevention lists developmental milestones for the first five years of life – “skills such as taking a first step, smiling for the first time, and waving “bye bye.”” After five years, evidently, all bets are off, and it’s up to us to figure out the appropriate next steps. Now that we’re living longer, with yet more longevity on the horizon, what should the developmental goals be for our lives?
Is It Time to Abolish Retirement?
A Custom Retirement Plan is Not a Math Problem
A couple of decades ago, I met a cab driver named Janice who drove me home from the airport. She was a woman in her early sixties who described how she lived in Panama for most of the year and came back to San Francisco to work each autumn. “I earn all the money I need for the rest of the year in just about three months here.”
The Most Difficult Thing in the World
It’s your last day at work. Your colleagues took you out to lunch last week, and you received a packet of papers from HR. Now you’re walking out of your office carrying a banker’s box full of personal effects. Congratulations, you’ve been disrupted. You weren’t fired. This was your idea: you just retired.