Damn he was an assistant coach? I’m out
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Worth noting the Walzes sold their home in July 2019 for $304k, a pretty significant chunk of that net worth.
https://www.zillow.com/homedetails/12-Valley-View-Pl-Mankato-MN-56001/110463251_zpid/
Yeah I saw an article that he had multiple pensions. I’d trade my net worth for that
Meh don’t get me wrong they’re super valuable, but the actual value of them is probably less than you’d think as people generally don’t live as long as they think they do.
At least that’s kind of how it is when I look at it
Wasn’t he in the Senate or Congress? That pension alone is probably top 10%.
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Yeah but it gives you peace of mind. My biggest fear is living too long and running out of money. Even so, I’m still willing to spend my principal and live on Social Security in Honduras if I live to 100. Most people aren’t willing to do that.
And of course there’s the inevitable huge market crash that’s going to happen at least once in the next 45 years.
People (w/o kids) end up taking all their principal to the grave with them out of fears of a 1% event (living to 100). If annuities weren’t such a shitty return they’d be great for this.
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Hardly anything makes more sense to socialize than retirement. You want to save enough for the longest life, but all you should have to save enough for is the average life. Health Care is pretty much the same.
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Health care is clearly worse. It is so much more unpredictable. At least with retirement you can figure out stuff like " I’ll live approximately X yrs", “here are what my monthly expenses would roughly be”, etc. Yeah, there are some unknowns, but you can at least kind of ball park it.
Health has a much more varied range of outcomes.
Sure, but you shouldn’t be that sure of a pension either… although admittedly a pension from the feds or state feels a lot more secure.
If I had a full pension with the university I work for, it would be I believe 90% of my salary for life with cost of living increases.
I work with a guy who’s 75 and fully vested and still works because his coworkers are his family. Most retire as soon as they vest and go sit on a beach or double dip.
Yeah corporate pensions are super sketchy. There aren’t many of those left anyway.
My dad had a nice 80% or something federal government retirement for the, I think, 3 years that he lived after retiring. Otoh, my m-in-l’s last late-husband had a nice government retirement for something like 33 years.
Yeah that’s my other biggest fear. All my uncles were pretty much done at 65. RIP Hobbes as well. Guy was just about to retire.
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I can only think of one man in my family who made it past 70 (an uncle who is about 78 now). I’m in a lot better shape at 56 than most of them were at this age though (3 cousins/uncles I can think of were dead by their early 50s). My wife’s family is full of 80+ year olds though, with a grandma who made it to 100 and a great great grandma who made it to 105.
My Dad is still going pretty good at 83. That’s my only hope.
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You just can’t put a dollar value on the peace of mind that comes from living in a society with affordable, comprehensive health care.
For this reason alone I’ll never move back to the US unless 1) I become incredibly wealthy or 2) the system changes.
So in other words, never.
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This is backwards. People at retirement tend to underestimate their life expectancy. A discussion of this probably doesn’t belong here though. Could discuss in the persoal finance thread if you like.
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Yeah.
Having Australia and the UK as back up if something really big was needed was a big weight off in the Philippines.
Although I did actually have health insurance there it was pretty garbage and had a cap of about $20k. Which isn’t particularly useful from an insurance perspective.
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