So
I’ll tell you all something that may make some bitterly envious and
others wanting to congratulate me.
I
am now retired as of this New Year’s Day.
I’ll
tell you why I am doing it now. Considering all the males in my
family dropped dead before the age of 46 and a mother who limped it
to 65, I figure I better grab Social Security earlier than later so
that I may have a few years to enjoy it. Add to that, all the life
span tests based off insurance actuarial tables I’ve taken have me
going to the Happy Hunting grounds between 69 to 75. And, since I
witnessed it with my own family, the last one and half years of their
lives were no fun and the ending three months were even worse. So at
best...early 70s when I may nip it? The average age for all US
white males who buy the farm is at 75.
I
had a neighbor my age say this, “We’re in the 4th
quarter now but not at the two minute warning yet!” That kinda was
a wake up call too.
This
all sound dark and gloomy? Nope. Just me being as realistic as
possible. I can’t help it. I can be ruthlessly pragmatic. I enjoy
wishful thinking a lot of times but I know it’s fantasy and comes
to nothing, so I prefer to make decisions with both feet on the
ground. In truth, I have no idea when I’ll join the Choir
Invisible. Out of weird luck I may hit 90, or a gas tanker truck may
plow into me in two days. Who knows?
The
final point being, after all the data I punch in on various life
expectancy platforms, the median probabilities still say early 70s.
Other
factors effected my decision too. My legs are beat from years of
standing on concrete at work. I feel daily pain and them getting
weaker and lo and behold, when I have a few days off, they get
better! So guess where the damage is coming from? I don’t think an
added few years of pounding on them will make them any better.
Another reason? My patience for C- people is getting shorter. Not too
long ago, I sort of loudly said, “You can’t FUCK this up!” to a
employee not in my department at work. It was loud enough that got
the attention of others in the hall as well. (How I just lovvve
fixing other people’s fuck ups!). Either I intimidated those in the
hallway or going to HR would’ve exposed their major screw up so I never caught any hell for it. How
C- people manage to live life w/o any deliberation or planning still
amazes me. Either I am older and crotchety or there are more C-
idiots in the world. I suspect it’s both. I want more distance
between them and I now. (Perhaps moving to back woods Maine is a
hope?)
Time.
I feel it moving faster and faster as I get older. Funny thing too
about that. It goes just as fast if you’re working or on vacation.
But I do feel the pace picking up and prefer that if if must speed
along, I’ll do it while I am lounging or doing what I enjoy.
Then
there is the fragility of health and plain stupid chance. Since I
work in health care I see people younger than me all wrecked and
ruined from all sorts of causes. I also hear of other’s lives that
are hobbled by drugs, alcohol, mental illness and seeing one co
worker whose heart deteriorated in a few months time to where he
can’t walk five feet w/o being exhausted and he’s a decade
younger than me! Seeing all
this just cemented my
decision to retire now as my health is holding out. You get older and
you see more and more around you being wounded, and more often, by
chance or sickness. It made me tally what I still possess that’s
good and want to use it before I lose it, and lose it one day I will.
So,
grab the time while the grabbin’s good!
**
“But
you’ll take a 30% hit to the money you’ll get! Wait till 67 for
the full check!” I was told by many who tried to educate me on
Social Security
“Yeah,
I know.” I say to them. I’ve done plenty of run throughs on that.
My taking Social Security now and comparing it taking it at 67? The
break even point occurs in my early 70s...gee...that’s when I’m
slated to nip it. I’ll have the same amount of cash (cumulatively)
by taking it now vs. taking it at 67 (if I kick it in my early 70s.
If I live longer, I get more).
Math
works ya know…
Affordability...
My
particular position in life now was due to some ugly luck as well. I
was the last one standing in my family and that came with a house.
“The Death Lottery” as an old friend put it. He too won that when
his family died off leaving him (as well as me) as the last one
standing. It left him acres of land abutting the sea in Plymouth.
His Dad also left him a helicopter company which Barn liquidated. His
dad was a
WW2
navy carrier pilot and trainer and also was one of the first guys to
fly helos when they started to become more common in the late 40s.
After the war, he bought them one by one to fly whatever you
wanted...for a fat fee of course. He needed an airport and was also
one of the three guys to get Plymouth airport properly built as it
was just a long dirt road in a field back then. Aircraft is a pricey
business. I had no idea the FAA required a total engine rebuild every
2,500 hours you flew a helicopter. 2,500 hours is a little over 3
months of flying time.
Anyways
I digress too much here…
I
once told Barn that it felt like a shit way to get a house when I saw
everyone else struggling. I also told him, that from some, I could
feel their envy about that fact.
He
remarks, rather loudly to me as well:
“What?
Ya gonna give it back if you could? You can’t! They’re dead and
gone! Bullshit! This sounds mercenary but you gotta grab things in
life while the chance presents it! Don’t dare apologize for any of
it...you think others say they’re “sorry” when they hit
PowerBall? I wasn’t sorry when I sold off those helicopters! This
is the way things are. Luck
is luck in whatever form it comes in...grab it! And about those who
envy you? If they desire your luck
they would have had to live YOUR life, every minute of it to
end up where you are today...some
wouldn’t want that if they
saw some of the shit you put up with!”
**
I
had no kids and aren’t they super expensive over the years?
I
never planned on them, and had they appeared, well, so be it. Add to
that the kind of women I met in life didn’t want them either.
“Don’t
you think you missed out on a family?” I used to get asked a lot.
“No,
because you can’t miss what you never had” was my response. Also,
a few friends who became parents, I witnessed their kids growing up
to be total assholes as adults. Where’s the fun in that? Visiting
your kid in jail or shelling out $$$ because they can’t hold down a
job must suck. And I’ve seen this often enough, “normal” kids
using the parents as ATM machines w/o so much as a ‘Thank you.’
At
best I’d see parents hoping, molding, training a “good” kid
with hopes of creating the person they want them to be. What does
happen is that the kid develops their own personality and it
solidifies and they go off on their own path regardless of what the
parent wanted. They become their own person. I have seen some small
disappointment in a few parents when their child veers off into a
direction never predicted. They’re good kids who became young
independent adults who can make it in life, but on their terms, not
the parents. And then the precious few parents whose kids were gem
quality. Those ones who did create joy in the household and would
validate your life as a parent.
And
since I never paid for clothing, food, insurance, toys or cosigned
loans for $160,000 educations at a college for a kid, or three of
them one after the other, I avoided that expense.
Thirdly,
I can thank Dear Ol’ Dad for having a career as a CPA, working in
banks and being the “Go To Guy” when it came to tax law. He knew
how to count money and taught me that as well.
I
remember, on some Saturday morning when I was five years old when he
sat me down with a pencil, paper, some 5’s 10’s and 20’s and
taught me how compounding interest works. I thought it was magic that
money could just grow w/o you doing a damned thing to rightfully earn
it. He never taught me how to throw and catch a ball but instead he
taught me about finance. At five I was finger painting in school and
also slowly learning about how mortgage amortization works and why
banks grab the interest off of you first.
Dads
and sons have great conversations while driving around. It’s just
you two in the front seat and you just jabber away.
When
I was 12 he explained Caribbean island banking to me.
“You
can make money and never pay taxes on it?” I asked,
surprised.
“Sure, it’s totally illegal but doable...as long
as you just commit tax avoidance vs. tax fraud. Tax avoidance is a
nuisance crime but tax fraud is like murder...the IRS spends most of
their time chasing that instead.”
He
goes on…
“You
just set up an account in say, the Cayman Islands and you can
generate interest on those accounts and you just never tell the IRS
you have cash there. IF the IRS finds out, and sometimes they do,
they have to petition the Cayman courts for a warrant to open your
account to get evidence to prosecute you with, but the way the Cayman
banking laws are designed, they can lawfully blow off the IRS
petition as the Caymans are their own banking jurisdiction with their
own very particular laws. So, no warrant..no evidence of
avoidance..no court case...you keep your money!”
He
gets excited by the next lesson he talks about.
“Even
better! Create a corporation in one of those islands..you can then
trade stocks on Wall St and you just never tell the IRS about your
capital gains...same thing again, if they find out by some way, they
are unable to force the local courts to issue any warrants to reveal
the account’s owner or what transactions occurred!”
“It’s
so far away” I ask. “How do you get at your money?”
“Oh
easy, the bank issues you one of their personal credit cards that’s
tied to your account. Believe me, the cards are good the world over.
Hardly anyone will deny them. Using a card also avoids utilizing
in-bound banking wire transfers which can tip off the IRS.”
As
I hear about all this, I begin to wonder and then ask..
“How
do YOU know about this?”
“I
have to know banking law at my work.” he says.
“Yeah
but you know American banking law...why the foreign ones too?”
“I
just do.” he says. That “I just do” was a hint to stop that
line of questioning.
I
still wonder about Dad sometimes and what clients he may have dealt
with at First Federal Savings and Loan on Westminster St. Any
occupation has it’s positive and dark sides. Kids whose Dads were
firemen, fire marshals, who were trained in fire science, know about
fire safety...and also how to burn down a major industrial building
w/o getting caught.
These
are some of the talks I had with my Dad on long rides. There was no
chatting about the Boston Bruins, but talk of how you handle money.
I
admit this. About a decade ago, I once tried to set up an account in
Turks and Caicos islands in the Caribbean.
Every
major bank, and I mean EVERY one, has branches in the Caribbean.
Capitol One, Wells Fargo, JP Morgan and Chase and every other major
American bank as well as the ones in Canada and Europe.
In
order to do island banking, I first had to open an account with a
foreign bank, so I chose the Canadian ScotiaBank in Montreal. This is
legal and on the up and up.
You
create the account, pay the fees and then stuff that account with
money.
Wait
a bit, three months or so, and ask them to create an account for you
in their Caribbean branch. They have NO problem doing that (for a
small fee of course that keeps them happy). You then tell them to
transfer that money (in medium amounts over time) to that account you
created in their branch in the Turks and Caicos.
Hey
Presto! Once your money is deposited in the Turks/Caicos it’s in a
different banking jurisdiction which blows their nose at the IRS.
There
is a small problem though. These island banks don’t want chump
change. ScotiaBank required at least $100,000 to set up an account
there. Want a sham corporation set up by said bank? One million
dollars needs to be deposited. So, you see how the rich stay rich
because the entry fee to some great workarounds to taxes is a bar set
high enough to ward off working stiffs.
It’s
done to this day. Just don’t be a drug lord or terrorist group and
stick to plain ol’ tax avoidance as Homeland Security can bust open
an al-Qaeda kind of account in minutes. They still tend to leave the
tax avoidance accounts alone still. There are many rich AMERICANS who
want it this way and have pull with various politicians and such to
exert some quiet pressure for it to remain so.
I
shoulda became a CPA...but thanks Dad for the education on how to
manage money!
And
no..I don’t have an account in the Caribbean. I just learned some
very basic and very practical ways to manage money. As Dad kept
telling me, “Don’t piss it away! Don’t be stupid!”
He
also taught me this. Money will not bring happiness...but it sure as
hell can alleviate some of life’s problems..as long as you have it.
You
poor and car breaks down? What are you going to do? Instead you save
up your money and you can get that car repaired and you’re back on
the road in days. This jist of Dad’s view was this. Don’t blow
the cash, instead make it work for you and realize money’s main
function is as a TOOL, nothing else.
So
over the years, I never blew cash in a silly manner. I figure the
best thing I learned from Dad was impulse control.
What
Will I Do in Retirement?
I
have little idea to tell the truth since we’re in the dead of
winter. Crossing over into my 60’s was a bit of a shock as I saw
how the rest of the world treats me even though in my head I feel
like I’m young and relevant most times.
To
the world though, I ain’t.
The
world sees my shock of white hair, my limp and my complete ignorance
of the Top Ten on Spotify or the newest computer games. I hate to
feel like I tell the same stories over and over again because my
short term memory is getting worse. Truthfully, I am grudgingly
accepting this new station in life. What choice do I have but to
accept it? However I admit I am still not used to that idea.
I’ve
seen a few who were older than me who retired and all three did
something I thought interesting. They all reverted to doing things
they loved doing in their childhoods or teen years. One watched TV a
lot, those retro shows. Another started back on a hobby of deep woods
camping they did when they were kids and another chases the Minor
League baseball teams around New England. He had been a Little League
kid who at times traveled to out of state games.
If
I hold to my childhood passions, I see more interest in music and
electronics (like that EVER faded!), riding my bike all over (this is
beneficial for the body, as long as I realize I’m over 60 and
cannot fall off a bike into a curb w/o really fucking myself up) and
reading at my leisure and a host of other things. I doubt I’ll be
hanging in the parking lots in Slater Park at 2am with other 60 year
olds like we did as teens but it would be fun to see the faces on the
cops if they pulled in to see what these geezers were up to.
I
used to be one hell of a gardener once. If I try that again, I have
to spade over that patch now grown over with grass. It may take me
much longer to do vs. when I did it at 14 and it was a bitch job
then. There’s satisfaction in gardening. Once, long ago, I was out
there on a late July dawn and I could smell the ripening cantaloupes
perfuming the whole yard. They do do that and it surprised me.
Carrots growing in the dirt give off a strong carrot scent as you
stand near them as well. I hadn’t ever known that. Also eating
corn that’s been ripped from the stalk less than ten minutes ago
can’t be duplicated by any store or roadside farm stand. And
Oxheart tomatoes will be turned into puree for all my sauce ideas.
Since
marijuana growing is sort of legal now, I can add that to the corn,
tomatoes and melons I can grow. Growing it would be just a goof for
me, to see if I can pull it off. Though I doubt I’ll ever smoke it
as it turns me to rubber for half a day and I’m wholly useless.
Hell, I can find a teen around here I can donate it too.
I
want to reconnect with some in my past who have long since gone, at
least for one meeting at least. I know that people drift apart, our
lives become so busy it’s hard to start up again but I’ll give it
a try with a few certain ones. (Diane...hint hint!)
And
perhaps newer people I may meet (who will have to pass my ‘are you
a dick and will you fuck up my life test!’). However, there are
people worth knowing once you find them.
Travel,
the old favorite of retirees. I could, by next week, book a flight to
Paris and eat in a bistro and check out the East bank of the Seine
and come home in a few days. I could, but won’t. I ain’t that
silly with my cash and Paris does not hold all that much attraction
for me and my french has long since rusted away.
But
Cape Kennedy holds attraction. I’d love to see that complex where
they shot off all those moon missions. I’d also like to see JPL in
Pasadna, where all those planetary probes are controlled from. They
only open it one day a year for visitors and they nearly butt rape
you on security clearances before you go in too. Even with that,
seeing that mass of technology would wow me. JPL may be a harder
wish to fulfill though, we’ll see.
A
long time work friend, who has gone on so many cruises that they
email him 8 to 10 day packages that are silly cheap, has been bugging
me to try one one day. I may
I
figure this new phase of life will take some getting used too. It all
still feels anticlimactic as there is no huge emotional shift in me...yet. I saw this coming years ago as either I would make the
decision or my legs would.
I
figure all of the changes will fuse in time.
Add this to tomato sauce?