107-year-old outlives his money for the second time

[kyounge1956]

From the Washington Post

[Orchidflower]

Well, that's pretty basic advice: nutrition and exercise. I wonder how his never marrying influenced his long life?

[Free To Canoe]

Nice story (so far).

Free to canoe

[kumquat]

Quote:

Originally Posted by Orchidflower I wonder how his never marrying influenced his long life?

There's the old joke "why do single men live longer than married ones?". "Because they want to".

[TromboneAl]

Finally, someone for whom a lifetime annuity would have made sense.

[ziggy29]

Quote:

Originally Posted by TromboneAl Finally, someone for whom a lifetime annuity would have made sense.

Can you imagine how much pain he'd be inflicting on a former employer if he retired with a COLA'd pension in his 50s?

[bbbamI]

I bet this guy is a chick magnet....

[aaronc879]

Quote:

Originally Posted by ziggy29 Can you imagine how much pain he'd be inflicting on a former employer if he retired with a COLA'd pension in his 50s?

My grandmother retired at age 55 with a COLA'd pension and she's now 93. It's a wonder how the government can afford to pay cola'd pensions to all those people who retire in their 40's and 50's with good paying jobs.

[Jay_Gatsby]

Quote:

Originally Posted by bbbamI I bet this guy is a chick magnet....

Only because there are no other men his age!

[hakuna matata]

I have used the FireCalc and always use 100 as the age I am saving for.
But what if I end up like this poor guy?

washingtonpost.com

107 and still in good health---You go Larry!
I sent him a donation--hell I figure if you live that long and in that good of health, you deserve to live where you want for your last years---in his case though we might never know how long that will be!

here is where you can make a donation--if you so choose (actually not sure if you can do that on this website--sorry in advance if you aren't supposed to do donation requests!)

www.savelarry.org

[Nords]

Quote:

Originally Posted by ziggy29 Can you imagine how much pain he'd be inflicting on a former employer if he retired with a COLA'd pension in his 50s?

I'll let you know in another 59 years...

The Department of Defense is still paying pensions to retirees who are 107-108 years old.

Or at least they were as of last September. And I'm not sure if the pensions include a COLA.

[Notmuchlonger]

DW had an aunt that made it to 103. Took her medicine every day. That medicine was a teaspoon of whiskey

[Bestwifeever]

Looks like Larry's got another year or more at the assisted living place paid for already, as shown on the savelarry.org website. Nice.

[FinanceDude]

Quote:

Originally Posted by aaronc879 My grandmother retired at age 55 with a COLA'd pension and she's now 93. It's a wonder how the government can afford to pay cola'd pensions to all those people who retire in their 40's and 50's with good paying jobs.

Easy...they raise our taxes so they can.....no pesky wage freezes and such.........

[TromboneAl]

Most people don't know that he's Gilbert Godfried's grandfather!

old.jpgyoung.jpg

(just kidding).

[ERD50]

I'm wondering about the guy's birth certificate - he doesn't look a day over 102! Sounds sharp, too. Hard to believe, but I guess one out of thousands, millions?

You'd think the home could hire him as a spokesperson or something - pay him with room & board?

-ERD50

[Brat]

Quote:

Originally Posted by aaronc879 My grandmother retired at age 55 with a COLA'd pension and she's now 93. It's a wonder how the government can afford to pay cola'd pensions to all those people who retire in their 40's and 50's with good paying jobs.

Because the annuity is actuarially adjusted the amount paid is no more that other retirees with the same service record and length of service. Some die early, others much later. The expensive retiree is a survivor of a retiree who outlives their spouse many years.

Don't forget that compensation is correlated with changes in the cost of living too.