scrabbler1
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 20, 2009
- Messages
- 6,706
While I've written about how my chance of running out of money is pretty much zero, I am a little concerned about my dad. He is 87 and has been retired for 24 years. He has the standard three-legged stool consisting of a small pension, SS, and personal savings being managed by Ameriprise. (Actually, only half of it is subject to the AUM fee, the other half is an annuity.)
He is reasonably healthy although he has had some health issues the last few years. He lives in the same house he has lived in since 1964, the house my brother and I were raised in, and the house my mom lived in before she passed away in 1995 at age 59. I know he doesn't want to have to move should the house become too costly to maintain (i.e. property taxes on LI are high).
His personal savings are down about 1/3 in the last 10 years but they are still pretty solid (about $170k). Whenever he has to spend some money, he jokes to me and my brother, "there goes some more of your inheritance." It's not like either of us are in need of it, as I am in fine shape and my (younger) brother is wealthier than I am, running his own successful business.
He never remarried after my mom's passing but he did have a ladyfriend for 18 years until she passed away in 2014. He doesn't seem interested in trying to find another woman. He still lives comfortably, not extravagantly. If he needed my brother and me to help him out financially, we could. He is far from that point.
He is reasonably healthy although he has had some health issues the last few years. He lives in the same house he has lived in since 1964, the house my brother and I were raised in, and the house my mom lived in before she passed away in 1995 at age 59. I know he doesn't want to have to move should the house become too costly to maintain (i.e. property taxes on LI are high).
His personal savings are down about 1/3 in the last 10 years but they are still pretty solid (about $170k). Whenever he has to spend some money, he jokes to me and my brother, "there goes some more of your inheritance." It's not like either of us are in need of it, as I am in fine shape and my (younger) brother is wealthier than I am, running his own successful business.
He never remarried after my mom's passing but he did have a ladyfriend for 18 years until she passed away in 2014. He doesn't seem interested in trying to find another woman. He still lives comfortably, not extravagantly. If he needed my brother and me to help him out financially, we could. He is far from that point.