Ask the Retirement Concierge

Ask the Retirement Concierge

THE RETIREMENT CONCIERGE: CHOOSING A DISTANT TRUSTEE

 

By Sharon Hamilton

December 18, 2015 (San Diego) -- Dear SharonAnn:  My wife and I set up our family trust several years ago. We have two grown children and named them as successor co-trustees should we be unable to act. Some friends of ours did the same thing with their three adult children. We know them and their situations. One son lives in Perth, one son lives in Shanghai and their daughter lives in BoraBora and they all come home to visit about once every three years. I read something about the details of being a trustee and I’ve been telling them it is a bad idea. In fact it may even be a bad idea for us even though ours live in Key West, Florida and Marshall, Arkansas. What do you suggest?  Signed Perplexed.

ASK THE RETIREMENT CONCIERGE: PLANNING YOUR RETIREMENT

 

By SharonAnn Hamilton

Dear SharonAnn,

August 23, 2015 (San Diego’s East County) - My wife and I are 60 and 62 respectively looking at retirement in a few years. She is a medical researcher and I am a CPA. We feel we have an adequate income prepared for our future but what concerns me is lifestyle. What are we going to do with the 50-60 hours each week when we are not working anymore? Our kids are grown and independent, our parents are happy in their community of friends. We need outside interests, but who has time? We want to make a difference in our world but how and where? I expect we could live 30-40 years and that is a lot of time ahead of us that right now seems daunting. Signed Kind of Lost.

ASK THE RETIREMENT CONCIERGE: TO TEST DRIVE YOUR RETIREMENT

 

Dear SharonAnn,

Our planned retirement and move in 12 months is heading toward us like a bullet train and such big changes in our lives are really scary. What if we cannot make new friends? What if we would have been better off to delay it for five years? What if we run out of money? What if we get bored not working? What if we detest our new community? Signed Nervous about Change

August 23, 2015 (San Diego’s East County) - Dear Nervous: There is no doubt that life changes are nerve wracking. In fact for most of us any change pushes us into fight or flight impulses, even those changes we initiate ourselves. There is no substitute for doing your own investigation. Having Plan A and Plan B is also a smart strategy when thinking about your retirement or any move.  Our best remembered baby boomer good-bye is remembered in the words of Spock, “Live long and prosper.” We all want that!

ASK THE RETIREMENT CONCIERGE: SIMPLE, BUT NOT EASY

 

By Sharon Ann Hamilton

Dear Sharon Ann:

July 8, 2015 (San Diego’s East County) - I will be 66 years old and retired by year-end. I am single, in good health, my parents are still living and healthy, and my grandparents passed away in their late 90s so it is likely that I have at least 30 years ahead. I am concerned that my nest egg will not last as long as I do. I want to know for sure! Is there a way to prove the projections made by my financial advisor? I have about $1.5M in 401K investments, I own my own home outright, and Social Security will be $2350 per month.

Signed: I want to KNOW for SURE!

ASK THE RETIREMENT CONCIERGE: SIMPLE, BUT NOT EASY

 

 

By SharonAnn Hamilton

July 5, 2015 (San Diego's East County) - Dear SharonAnn:

I will be 66 years old and retired by year-end. I am single, in good health, my parents are still living and healthy, and my grandparents passed away in their late 90s so it is likely that I have at least 30 years ahead. I am concerned that my nest egg will not last as long as I do. I want to know for sure! Is there a way to prove the projections made by my financial advisor? I have about $1.5M in 401K investments, I own my own home outright, and Social Security will be $2350 per month.

Signed: I want to KNOW for SURE!

THE RETIREMENT CONCIERGE: VOLUME 116 SIMPLE, BUT NOT EASY

 

Dear SharonAnn:

June 14, 2015 (San Diego's East County) - I will be 66 years old and retired by year-end. I am single, in good health, my parents are still living and healthy, and my grandparents passed away in their late 90s so it is likely that I have at least 30 years ahead. I am concerned that my nest egg will not last as long as I do. I want to know for sure! Is there a way to prove the projections made by my financial advisor? I have about $1.5M in 401K investments, I own my own home outright, and Social Security will be $2350 per month.

THE RETIREMENT CONCIERGE: OLD BUT NOT CRAZY

 

By SharonAnn Hamilton

May 31, 2015 (San Diego's East County) -- Dear SharonAnn,

My eighth decade is creeping up and I find that I am deeply disturbed by how people act today. It bugs the heck out of me when I see people do not pick up after their dog, when kids sit talking in their cars along the park and throw trash out the window to the ground and when people leave shopping carts where it could damage a car because they are too lazy to return them. When I couldn’t find my gold hoop earrings that I hadn’t worn in a year, I chalked it up to losing them on a trip. Then I couldn’t find my leaf rake or my extra package of toilet paper in the garage. Someone is stealing from me. I am getting increasingly angry because people just are not doing the right thing. I just feel so helpless. What am I supposed to do? Signed: Old but not Crazy!

ASK THE RETIREMENT CONCIERGE: CAN YOU CHANGE YOUR WILL YOURSELF?

 

By Sharon Ann Hamilton

Dear Retirement Concierge,

I am retired and fortunately have adequate resources. I just don’t believe in spending money if I don’t have to and it is not hard because I have chosen to live a simple life for many years now. I do have my estate documents in order: trust, will, health care directive, and power of attorney for financial matters should I be unable to act for myself. Here is the situation: I want to make a couple of small changes in beneficiary recipients. Someone told me I could just handwrite a codicil and put in in my trust documents. Is that true? Attorneys are pricy these days and if I can do it myself without risk, I will.

ASK THE RETIREMENT CONCIERGE: SCARED SPITLESS ON THE ROAD

By Sharon Ann Hamilton

August 23, 2014 (San Diego)--Dear Retirement Concierge,

My 16-year-old just took his solo voyage as a driver. Since I saw him learning to drive I am nervous at best when he is out there alone without a parent to guide him. At the same time my parents-in-law AND my parents are creeping into their late eighties and I notice a few dents in their cars; they all drive! That brings the tally to five people now on the road with questionable driving skills. I think I’ll be using public transportation for the next few years! What practical ideas do you have for these situations?

Signed: Scared Spitless On the Roads

ASK THE RETIREMENT CONCIERGE: CONTEMPLATING RETIREMENT

 

I am 59 years old and contemplating retirement, with dread. I just cannot imagine myself not going into work each day or being able to afford not working. What would I do with the time? I am alone at home and sometimes even on the weekends I get lonesome. My nest egg is comfortable but not luxurious. I wonder if it will last out my life, though. Guess I could live with my kids if necessary. Eeww! I often wake up at night thinking about my future and then cannot get back to sleep. Signed “Worried”

By Sharon Ann Hamilton

August 10, 2014 (San Diego's East County) - Dear Worried, You are right to be worried! And you are not alone. July 13, 2014 research by US Census Bureau, Saperston, and Bankrate shows us that 80% of people, even as young as 30, do not believe theywill have enough money for retirement. In fact 35% rely completely on Social Security. 76% of people polled cite worries about money as a leading cause of stress. As we all have heard, stress can kill you.