Sharing 23 years of Frugal Retirement

Missed you, now don't wander off and leave us alone again.
 
Welcome back, you have been missed.

Your post made my day!
 
So glad that you are back and that you and your wife are doing well. I am another one that likes your wordy posts and your life does not sound boring at all!
 
I like many others enjoy your wordy posts:)) WElcome back!
 
Glad to see you back online. Your example really helped give me the confidence to pull the plug on the daily grind.
 
Always enjoy your posts and am glad all is well! Good to hear you are back.
 
imoldernu - Thank you so much for this thread. I am still making my way through all the posts. Your wisdom is an incredible gift to those of us starting down this path. I feel like a fly on the wall of your life, soaking up your lessons. You are an awesome teacher.

I'd also like to hear more on the memory issues and how you have dealt with them- How others could have helped you along the way and anything you are doing differently to plan for the future.

Blessings to you and your family.
Thank You for sharing!
CG
 
I have read that by age 80 most people no longer want to travel. Even my Mom who loved traveling slowed down and traveled less the last 10 years of her life. Also she had 4 bouts of cancer that ruined some of her travel plans. I think the last trip she took she was 84. By the time she was in her late 70's she wanted to stay in 1 place when traveling. It was just too hard to pack up that suitcase daily. WE are 61 and 56 and have been traveling the last few years and plan to continue while we can. I had a good friend die at 59, another at 67, one in nursing home at 64 and another headed that way at age 63. We just never know what is in store for each of us. So glad in your 8th decades things continue to go well. NOt all states take away your drivers license when you get diagnosed with dementia. My friend did not lose hers until her hubby & friends decided she was no longer safe to drive. WE asked the doctor about it and he said we could decide instead of him.
 
Good to hear that you are alive and relatively well... and we look for your wordy posts... to drink from the fountain of wisdom while we can.
 
Definitely glad to hear you are still in relatively good health and back with us. Always like to see your well thought out posts regardless of the length. I bet that was quite exciting getting back to your home in Florida.
 
So glad you are back! I thoroughly enjoy your posts--so much wise advice to partake!
 
imoldernu, I saw this and thought of you based on your post #165 above. This guide is written for caregivers of people with dementia/alzheimers and provides a great financial planning overview:

http://newageofadvice.com/files/3314/4441/6944/Transamerica_Caregiver_Guide.pdf

This next guide is written for financial advisors to those with dementia but I thought you might find it useful as well:

http://newageofadvice.com/files/2614/3561/3620/Advisors_Guide_to_Financial_Planning_in_the_Shadow_of_Dementia.pdf

This guide on guardianship as well (although you probably already have this covered):

http://newageofadvice.com/files/9814/4656/9184/Advanced_Markets_-_Guide_to_Guardianship_-_AMPFI0815.pdf

Planning for the possibility of incapacity is an important part
of the financial planning process. It starts by asking some
basic questions:
• Who do I want to manage my financial affairs if I become
incapacitated?
• Are there any specific powers that I would or would not
want my agent to have?
• When do I want my agent’s authority to begin?
• Who do I want to make my health care decisions if I cannot?
• What type of care do I want?
• How comfortable do I want to be?
• Are there circumstances where I would not wish to be
kept alive?
• Have I clearly communicated my wishes to my family
and friends?
Once you’ve answered these questions, you’ve laid the
foundation for a plan to deal with future incapacity.
Click to expand...

Last, but not least, this is an outstanding, thorough guide to all financial aspects related to aging in one's 70's, 80's, and beyond from Legg Mason:

http://newageofadvice.com/files/5313/9835/7548/Legg_Mason_-_Aging_and_its_Financial_Implications.pdf

Planning to preserve control, dignity and safety…come what may

For all the talk about “retirement planning,” there is little focus on the
stage after the healthiest and most active years. If you have faced the
health crisis of a parent, you have renewed respect for the benefits of
proactive planning, rather than waiting for a crisis to drive an immediate
decision. Through careful preparation [-]in partnership with a financial
advisor[/-] and other trusted professionals, you can increase the chances of
maintaining control over the most important decisions related to your
future. With a realistic view of the future, you have the ability to develop
a comprehensive plan that takes in “what if...” and ensures that you
will have control over the decisions affecting where you will live, your
comfort, and care.

Our lifestyles may change dramatically in our 70s, 80s, 90s and beyond, and
the reality of retirement may turn out quite differently from what we have
envisioned. Unfortunately, many of us have looked at our “golden years” in
idealized terms, and have not given careful consideration to the realities of
aging. Aging and frailty know no economic boundaries and often bring physical,
lifestyle, financial planning, family, psychological and social challenges. Truly
understanding the realities of retirement can help in giving financial, emotional
and family considerations the proper attention well in advance in order to make
appropriate plans
Click to expand...

Emphasis added
 
Last edited:
Options said:
imoldernu, I saw this and thought of you based on your post #165 above. This guide is written for caregivers of people with dementia/alzheimers and provides a great financial planning overview:
Click to expand...

Thank you so much for your post. :flowers:

It means a lot to me, and I will share all of the links with my children. We have regular updates on our situation and our plans, and feel that overall we are covered, both from a personal support basis, and financially. That said, your sources are wide ranging and comprehensive, covering more than I ever could to get our kids on the same track.

The financial links, both for the caregiver and the professional are particularly thorough. Though I think we've covered the same bases, it's a good memory jogger, and there were many things that I'll re-review.

One of the most important things that was covered... Elderlaw... is one part that I'd suggest for anyone who may become a caregiver. In our case, we don't feel that we're quite ready, but in looking for an eldercare lawyer it seems that the nearest one is 65 miles away, and doesn't receive good reviews. One of our sons is a risk management lawyer, and will help in our selection. In the meantime, we have covered the basic will, medical directives, and power of attorney. In the coming months we'll review our full financial philosophy and details with the whole family. We've already done most of this, but with everyone on board, we hope to make everything easy in the event of the unforeseen.

If this all seems much ado about nothing, I would suggest that in almost every case we've seen, health, dementia or death, has resulted in tremendous upset amongst the partner or the family.

Whether for dementia, general health issues or just old age, the articles in Options' post will be very worthwhile reading. In particular, the last link offers check lists that cover details that are easily missed.
 
Thanks Options... Great links



Sent from my iPad using Early Retirement Forum
 
imoldernu, since you have your estate covered (awesome to have a son as a risk management attorney), have you seen this:

Erik A. Dewey

It's called "The Big Book of Everything" (or to put it in a more morbid fashion, a death book). You can complete it and your executor will have everything they need including all the information to settle your estate. You can download it in either PDF or Excel format.

From the website:

What is the Big Book of Everything?

In a nutshell, it is a notebook filled with all of the information anyone could possibly need to know about you. The idea is that in our lives we have countless things that we are involved in. On rare occasions, other people need this information and no one knows how to get it. That's where the Big Book comes in. By filling this out and keeping it current, you can simplify the effort others have to take on your behalf.

Uses for the Big Book are:

After you pass away, people will know what accounts to cancel, have access to your email, know where important papers are kept, and otherwise streamline what is already a painful process.
Filling out applications. The information in the book is often found on various applications, by having the book you can look that stuff up at a moments notice.
Making sure you know what your assets are. By going through and inventorying all of your assets, you have a better idea of where you are financially.
Forcing you to prepare for emergencies. By filling out the forms, it will force you to be better prepared when an emergency strikes.
Click to expand...

As I just completed estate planning to include a trust, et al, I wanted a single document my executor could go to and find all information about me. Previously, I would print it out in PDF and fill it in by hand. This time I downloaded it in Excel format so that I can easily make changes in the future. It's the most comprehensive aide for an executor closing out one's estate that I've been able to find.

(I tried to upload it in Excel for you but had trouble; you can download it from the site link above if you feel like giving it a look).
 
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