Money managent in retirement ... and an invisible problem

joyfulguyMay 21, 2006

I've been reading "Finances After 55: Making the Transition from Earning a Living to Retirement Living" by Sylvia Lim, CFP, CGA, one of many useful books published by Self-Counsel Press.

It's aimed at both U.S. and Canadian potential retirees and gives ideas about goal setting, assessing net worth, evaluating investments, sources of income and financial requirements through active, semi-active and passive periods during a couple's retirement years, housing choices, using one's home to finance retirement and estate planning.

There's one glaring omission from her discussion, though, it seems to me. She makes no mention of the potential difficulties that inflation may (almost certainly will) pose for retirees and what they thought would be assets adequate to see them through all the years of retirement comfortably.

A book that hasn't involved money leaving my (retiree's) wallet - have you noticed that some retirees' wallets seem to have been trained to resist opening somewhat? - as I borrowed it from the library.

Better watch it's due date, though, as recently I had to pay a fine on some overdue ones.

I call that "SML" -"Stupid Money Loss" ... no, not really, as the money isn't stupid: how about "ML-S", "Money Loss - Stupidly"?

Hold on a minute - don't I want to see a vibrant, progressive, solvent library? Shouldn't I be willing to help pay for it, without grousing? Especially since my library card is free and entitles me to use all of its services.

Have an interesting week, everyone.

ole joyful

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pinecone

Yes, support your library. Most libraries have a place set aside for use when doing investment ($$) research.

In Tyler, TX our library allows us who do not live in town to buy a $5 $10 card and use it to pay for our check outs.
If your library does not let out of towners check out, you might ask about using a plan such as the Tyler Library has.

Yes it is amazing how Money Management writers can leave out "inflation".

Happy Trails till we meet again,
pinecone'>pinecone

    Bookmark   June 4, 2006 at 10:17PM
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joyfulguy

pinecone,

Libraries are great!

I'm a lucky guy - I visit seven libraries, routinely, even more on an occasional basis!

I used to live in this city, with a library card, and about 9 libraries, but my card became invalid when I changed address to a nearby county. The city library issued me a temporary card, to be validated when I got a card in that county, which I did, and had the temporary one validated: I am in one of those libraries now.

In the meantime, I visited the main library in a nearby city, in another county, and they issued me a card for their county, as many with my post office address reside in it - but I don't, actually.

So I frequently visit about 7 libraries - I have a list of their hours in the car.

As they have inter-connection, I do not have to pay a fee to any of them.

I do feel that I should make a (tax-deductible) charitable donation to one or more of them, though, as I use their facilities quite a lot.

As I travel, I find that quite a few libraries in various jurisdictions allow me to use their internet-connected computers for a limited time, without fee - occasionally one asks for a fee.

Good wishes to you and yours.

ole joyful

    Bookmark   June 8, 2006 at 1:31PM
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joyfulguy

The county in which I now reside has 18 libraries - I use about three.

I made a (deductible as a charitable donation) gift to the library system in the city from which I moved a couple of years ago, as I use their libraries a lot.

Especially for a number of months recently when I could not get online from home (old, decrepit computer). I'm in one of theirs now, as a matter of fact - it's a lot faster, as mine at home blocks a lot, freezes in the middle of my writing for a posting, etc. - a major PITA.

Hope you all have an interesting, enjoyable and productive week.

ole joyful

    Bookmark   February 4, 2007 at 2:13PM
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