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Old 08-08-2010, 04:34 PM   #21
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Join Date: May 2010
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Originally Posted by REWahoo View Post
If your heirs don't need the money, why pay $500/yr to give them a "parting gift"?

As to dropping the professional org dues, more waste of funds. Get over it!

You're welcome.
Yep. Doesn't sound like you need the insurance. The technical organization might be different. I used to be in the major one for my field because it looked good on my resume. But I dropped that a few years ago even though I still work in the field. But I still go to their conferences and see a lot of retired colleagues that are their because they enjoy keeping up. So that part seems like a personal decision regarding whether you enjoy the magazine and other connection enough for the cost.

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Old 08-09-2010, 08:38 AM   #22
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Okay, you've all convinced me. The term life will not be renewed.

I got the term life years ago because it was transportable, cheap (then), and had kids at home with college years off in the future. I always assumed I would drop it when the financial reason for its being had passed. But that date had slipped by, and I kept renewing it every 6 mos., thinking maybe I should do something about it. But never doing anything about it other than sending in another payment. Decision avoidance.

I think my "reasons" for continuing to pay it were psychological... I had it, and would be giving it up... probably would not or could not get it again if I wanted to, but yet no real reason that I can think of to want to. Maybe its a psychlogical variant of that "pain of loss" idea, where the pain of financial loss is ~3 times the joy of an equivalent gain. Which is pretty weird, because for the big payout, I would have to be dead!

So that will take care of the term life, which puts an equivalent of $12,500 ($500 x 25 for 4% w/d) in the fund.

I have till the end of the year to decide about the prof. org., I will probably stop it, too. I don't go to meetings, contact others, etc. etc., I just sometimes read parts of the magazine. I know this may sound silly to some, but it really is like closing a door on a life, on a profession. But yet, I won't be going back to it. Feelings...whoa whoa ohh feelings...
Hey, I haven't thought of that song in decades! I am so happy to report that I am in so so much better shape than the terribly empty state I was in when that song came out in the early 70's! What a difference to a life one person can make, if it's the right person.

-- Telly, the D-I-Y guy --
Two fools dancing on the hands of time
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Please convince me to drop term life
Old 08-09-2010, 02:22 PM   #23
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Please convince me to drop term life

Drop term life you punk or you'll be getting a visit from Fat Sal to rearrange the furniture on your face.

That do it for you?

"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
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Old 08-10-2010, 07:32 AM   #24
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I have an insurance policy that allows me to take the proceeds while still alive to pay for nursing home care (once several conditions are met - mainly that I'm not going to live forever.) It might be worth checking to see if your policy allows that. It's possible that would make you want to keep it.
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Old 08-10-2010, 08:18 AM   #25
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I also had the problem with the prof membership fees - fees increased this year. I decided to pay it this year as I'll be retiring this year. After that I will stop. I have not been very active in the association though I did some mentoring, attended some functions, etc. But I don't think I'll miss all that. I also found out that to re-activate my membership (if I ever want to), I only have to pay all overdue membership fees. Check whether it works the same for your prof org if you want to get re-instated.
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Old 08-10-2010, 12:34 PM   #26
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I did the same thing. Cancelled the term and the membership. I delayed for five years after retirement much like you have done, then finally bit the bullet.

For the fun of it...Keith
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