Big name retirement announced today.

[HFWR]

Just a reminder, very easy to get off topic on this one so we want to stay close to the original thread topic.

Just commenting on how quickly the BS bucket would fill...

 

[utrecht]

I thought the "big name" who was retiring was Kenny Rogers.

 

[OldGuy]

SW Florida

This could be controversial, but where does everyone think he'll wind up? Sun City, or is he more The Villages material?

Marco Island, Florida. He's already got a place there that he bought 2-3 years' ago. Of course the size of his posse will be a whole lot smaller after he leaves the House...
Hope he enjoys his retirement; however long it lasts.

 

[W2R]

He was ELATED!. He truly was happy to be done with his career. He literally sang Zippity Doo Dah!

I can SO relate to that feeling! On the day I retired, I was singing this song to myself which I think is a terrific retirement day song (sorry about the German but I couldn't find a better version and I love the photos!):

 

[PatSea]

He also bought a home on Catawba Island on Lake Erie in the spring of 2014.

 

[Independent]

I would be too if I was getting a pension check the size of his.

I couldn't help doing the math. As a member of congress first elected in 1990, he would be under the FERS system.

MOC used to get a special factor. His benefit would be:
(average of highest 3 years) x ( 20 x .017 + 4 x .010 ) =
(about $220,000) x ( .38 ) = $83,600. I assume that's COLA'd

He also gets SS.

Open Secrets has assets of $2.3 - $6.8 million in 2013. That's just a list of stocks and bonds, nothing on real estate. https://www.opensecrets.org/pfds/assets.php?year=2013&cid=N00003675

Of course, I'd like to believe that if I were in his shoes I'd retire to my golf course home, maybe write my memoirs. I have to agree with the OP that I'd be tired of the political climate.

But, former politicians can really cash in if they want to. They can get income from corporate boards, consulting, K Street, or speaking fees.

Maybe some reporter will do a follow up in a couple years.

 

[EastWest Gal]

Don't forget his pension along with his wealth. He has no reason to join a lobbying firm or garner speaker's fees.

I loved the "Zippity doo dah" entrance. That's how we all should feel walking out the work door for the last time. This is a guy looking at real retirement. I hope he enjoys a long and happy one.


Sent from my iPhone using Early Retirement Forum

 

[Totoro]

There was an article in the current edition (went to print before the annoucement I guess) of The Economist mentioning him a few times and the various pressures he was under.

Good for him he found the exit.

Usually when you leave a stressful employer one leaves too late and the rebound in happiness is enormous (from my own limited experience). Hope he finds a good way to spend his day in continous bliss!

 

[scrabbler1]

I don't like Boehner but I can surely appreciate the competing pressures pulling him in opposite directions at the same time. He simply had enough and decided to get out before they completely overtook him. I wish him well.

 

[Markola]

One of my life sayings that I like to apply is "Always go home on a high note". I would often use this when to leave for the day, but you can also apply it to a career.

After J.B.'s day yesterday with the Pope and the associated positive experience, how could he beat that?

-gauss

Agreed. Regardless of his BS bucket overflow, which was obvious, it pays to be smart about one's departure in the context of OMY and try to do it with class and in such a way that it leaves one more options post-job than fewer. He was facing a looming and ugly government shutdown over divisive social issues under his watch, followed by a likely no-confidence vote that he could have won but that would have wounded him. This way, he leaves having dodged the first, pre-empted the second, and is even enjoying a halo effect by getting credit for bringing a popular Pope to the capitol. He'll now be able to exercise all of the financial and media options available to a former speaker and elder statesman who chose his exit conditions well, rather than being forced out and damaged, with the usual recriminations and defensiveness that can come with that kind of departure. Instead of that route, he's just given us a proper clinic in how to quit an impossible job in a way that actually makes one appear to be stronger. As we know, perception is reality in a high-profile role. Hats off to him for playing a bad hand well.


Sent from my iPad using Early Retirement Forum

 

[pb4uski]

One nice thing about being FI and RE is that you can call out the jackasses in the world. I'll admit that I liked the subtlety of his delivery... rather than directly calling Cruz a jackass on air he snookered John Dickerson into doing so by referring to a previous speech he had made. Priceless.

How many of us wanted to do something like this a=on our way out the door?

From Face The Nation, September 27 2015

DICKERSON: Is Ted Cruz a false prophet?

BOEHNER: Listen, you can pick a lot of names out. I'll let you choose them.

DICKERSON: You don't debate that assertion?

BOEHNER: I'll refer you to my remark at a fund-raiser I made in August in Steamboat Springs, Colorado.

[a little later]

DICKERSON: Let me ask you about the -- by the way, you called Ted -- I believe the word you used was jackass, referring to Senator Cruz.

BOEHNER: I'm referring to that same remark.

DICKERSON: All right. All right.

We have buttoned that up for the American people.

 

[Lakewood90712]

I Hope I am wrong , but listening to him speaking with reporters, he seems eerily like people I have seen retiring due to very serious medical conditions, and not wanting the real reason publicized. Boehner is a heavy smoker, POTUS is too, and that has always worried me.

 

[donheff]

Open Secrets has assets of $2.3 - $6.8 million in 2013. That's just a list of stocks and bonds, nothing on real estate. https://www.opensecrets.org/pfds/assets.php?year=2013&cid=N00003675

My gym is down the block from his DC row house, I see the protection detail waiting for him in their SUV frequently. That house is worth $1 million+. And that is just his DC place. He has to have another abode in his home district. My guess is that he will do something around town and keep the row house but, if he moves home, it would sell in a week in today's Capitol Hill market.

Agreed. Regardless of his BS bucket overflow, which was obvious, it pays to be smart about one's departure in the context of OMY and try to do it with class and in such a way that it leaves one more options post-job than fewer. He was facing a looming and ugly government shutdown over divisive social issues under his watch, followed by a likely no-confidence vote that he could have won but that would have wounded him. This way, he leaves having dodged the first, pre-empted the second, and is even enjoying a halo effect by getting credit for bringing a popular Pope to the capitol. He'll now be able to exercise all of the financial and media options available to a former speaker and elder statesman who chose his exit conditions well, rather than being forced out and damaged, with the usual recriminations and defensiveness that can come with that kind of departure. Instead of that route, he's just given us a proper clinic in how to quit an impossible job in a way that actually makes one appear to be stronger. As we know, perception is reality in a high-profile role. Hats off to him for playing a bad hand well.

+1 He was going to leave sooner or later and he made his move in as positive a manner as possible.

 

[braumeister]

That house is worth $1 million+. And that is just his DC place. He has to have another abode in his home district.

His home district place, bought in 1993, has a property valuation of $475K according to the county auditor. Pretty standard for that neighborhood.

 

[samclem]

He's probably enjoying the fact that it is very obvious right now that his most vociferous critics are not actually eager to do the job themselves. "You think you can do better--Okay! You are welcome to it!" Crickets (mostly).

 

[Free To Canoe]

Another ER ruined by being recalled to work.

John Boehner says he'll stay until replacement is chosen - Washington Times

 

[timo2]

Another ER ruined by being recalled to work.

John Boehner says he'll stay until replacement is chosen - Washington Times

+1 that is exactly what I thought also

However, he still might have the 'retired in place' attitude. you know, Presenteeism https://hbr.org/2004/10/presenteeism-at-work-but-out-of-it/ar/1

 

[pb4uski]

+1 that is exactly what I thought also

However, he still might have the 'retired in place' attitude. you know, Presenteeism https://hbr.org/2004/10/presenteeism-at-work-but-out-of-it/ar/1

Unlike absenteeism, presenteeism isn’t always apparent. You know when someone doesn’t show up for work, but you often can’t tell when—or how much—illness or a medical condition hinders someone’s performance.

I hope that Speaker Boehner's presenteeism is not due to his having a medical condition or illness but rather just being sick of herding cats up on the hill.

Perhaps someone can explain to me something that I don't understand though... and I'm not trying to be political here but if his resignation was sufficient to rally support for the budget impasse why can't he at the same time use the same house support to address the debt ceiling before it becomes a crisis, the highway bill, etc... all the things that will becomes crises in the next six months?

 

[Lakewood90712]

The political talking heads reporting that any US citizen can be elected to this position, does not have to be a current member of congress ? The were actually talking about returning Gingrich.

How much does it pay ?

I'm in !!!!!

The perks are ok, the former speaker from CA , commuted weekly on a gov. owned 757 .

( US Air Force is technically the chauffeur when traveling by plane )

 

[samclem]

Too bad about the citizenship reqmt. I think President Putin might enjoy the work, it would keep him busy and away from other issues, and maybe the dose of humility would prove useful on a personal level. Regardless, I'm sure Mr Boehner is pulling out all the stops to find a replacement ASAP.

 

[pb4uski]

While I think Rep. Ryan would be a great choice... I think he is smart to try to stay out of the fray.... I'm not sure how long he can resist though.

I don't understand why they can get together 220 moderate House members from both parties, elect a Speaker and get some things done.

They could then listen to the 50 or so on the far left and 50 or so on the far right but ignore them where they need to. They'll squeal like babies, but so what... we have serious problems and need to get things done.

 

[aaronc879]

The political talking heads reporting that any US citizen can be elected to this position, does not have to be a current member of congress ? The were actually talking about returning Gingrich.

How much does it pay ?

It pays $223,500 which is WAY too much IMO.
Salaries | House Press Gallery

 

[rodi]

Just a friendly reminder to AVOID POLITICS.

Retirement discussion is ok. What the Congress will do is politics.

Thank you.

 

[pb4uski]

It pays $223,500 which is WAY too much IMO.
Salaries | House Press Gallery

No way... not way too much at all. First, Speaker is only $76,500 over what a plain member of the House makes (I assume that the Speaker does not get both) so that is not much given the additional hassle factor even after the benefits of the position.

While I know I am in the minority I have no kibble with any of these salaries... in many cases these people are foregoing much more lucrative careers in corporate America that would pay much more and having spent some time in DC I know they work pretty hard and have long days when they are in DC.

What befuddles me is how so many smart and talented people can collectively have such rotten outcomes but that is a whole different issue.

Edited to add.... oops, sorry saw your admonition after posting.

 

[Lakewood90712]

Just a friendly reminder to AVOID POLITICS.

Retirement discussion is ok. What the Congress will do is politics.

Thank you.

Rodi, Thanks for the reminder to get back on the subject.

Sometimes just being a Lame Duck will re-invigorate someone in a tight spot " I will relax, cuz I can leave whenever I want " I am sure everyone has seen it, and some on this forum have lived it.