Our Plan

[corn18]

Yea we watch them carefully for any signs of change of attitude but so far they been good with putting people on the board who reflect the families values that are so important to them.

They also give 10s of millions of dollars to charity with their own 50 million charity fund and have this department thats heavily staffed dedicated to their associates who have special needs like death in the family or illness that needs help paying bills.

So their core values are very strong unlike any other company I know of. Thats why my wife has been there for 33 years since she was 18 and will never leave until she retires.

Because of how well the ESOP is funded and they own al their land where they build with a mostly recession proof product it would be hard for a company like theirs to realize huge losses. Something would have to happen to management, go public or replace the entire board with folks who would get rid of the ESOP and expand faster. Over the last few years they actually made the ESOP even better not worse.

But with that said things can change especially over a 10 year period. So always have to be vigilant.

If anyone wants to know who they are just chat me in private. I prefer not to post them in open forum...

Are they hiring? Sounds like a wonderful company / team to work in.

 

[SnowBound]

Welcome Itnetpro. Hope you find E-R.org a blog useful, I sure have.

So it sounds like you want an Annuity and just want some guidance that it is not a bad decision. Probably most people here will tell you can do better (including myself).

However, if you really want an annuity go ahead and do it. Do some serious research, and I would get two equally valued ones from competing companies. Don't put all your eggs in one basket. Enjoy reading more...

 

[TwoByFour]

You know what they say (actually it was just Robert Burns) about the best laid plans of mice and men.... I would wait 5 years and see where you are and then ask all the questions about how to invest your retirement savings. Your numbers might be different, the economic climate will likely be different.

 

[zippy2020]

I will say if you "want the best" in your old age re Skilled Care Facilities, just be prepared to pay for it. In high-labor markets the costs are pretty breathtaking, and don't forget that historically healthcare costs have mostly exceeded the annual inflation rate.

We chose the third-rated facility in our state for my MIL, and in 2015 (the year she died, unexpected brain aneurysm) the charge for SCN at a non-profit was $8,600/month. At a well-regarded for-profit facility, the charge was $12,200/month.

We were advised by all facilities we investigated before choosing one, that all of them raised their rates for current/new residents 2-4% on July 1st - without fail. Non-profits or for-profits, all nine did this.

Make very, very sure you can afford what you and your spouse want....especially if you both have to enter SCN. Note that rate increases also affected the Asst. Lvg. residents, unless it was a CCRC that required a buy-in before admittance.

 

[Scuba]

I will say if you "want the best" in your old age re Skilled Care Facilities, just be prepared to pay for it. In high-labor markets the costs are pretty breathtaking, and don't forget that historically healthcare costs have mostly exceeded the annual inflation rate.

We chose the third-rated facility in our state for my MIL, and in 2015 (the year she died, unexpected brain aneurysm) the charge for SCN at a non-profit was $8,600/month. At a well-regarded for-profit facility, the charge was $12,200/month.

We were advised by all facilities we investigated before choosing one, that all of them raised their rates for current/new residents 2-4% on July 1st - without fail. Non-profits or for-profits, all nine did this.

Make very, very sure you can afford what you and your spouse want....especially if you both have to enter SCN. Note that rate increases also affected the Asst. Lvg. residents, unless it was a CCRC that required a buy-in before admittance.

Even CCRC’s with buy-ins typically raise monthly costs every year. They have to in order to remain viable long-term. The rate increases I’ve seen are in the 3-5% annually range.

 

[DrRoy]

Neither you nor anyone else can know the future return of an investment. For example, an unexpected new regulation could severely change the profitability of one company. You should diversify sooner, not later.