Are you rich?

[Guest]

On 5/15/2021 at 3:08 PM, gallahadesquire said:

I was in a good, six-figure job then had a near-fatal orthopedic incident. I was in hospital or rehab for three and a half months, and out of work for six, age 59.

 

i never got back to more than six hours a day. The job was either 7-5 five days a week, or 8-until the work is done.

 

I was demoted and had my salary cut by 40%. But the long-term disability made up some of the difference.

 

In March of the year I would turn 61, my boss told me I was going to be laid off, so I quit on my 61st birthday.

 

Long-term disability kicked in. Social security disability kicked in. I thought I’d cancelled a private disability policy I’d had for 20 years, but I’d only stopped the autopay. That w as an additional $4,000 a month, tax-free.

 

Disability lasted to age 66 or 67, but my investments (403(b), IRA, TIAA-CREF) kept chugging along. I started to withdraw from my accounts, continuing at 70% of what I’d made when working. My first RMD will increase my income by a few thousand.

 

ive had an amazing investment counselor all these years.

 

So, to paraphrase Oscar Wilde, I live entirely for pleasure now.

Better to be prepared than lucky!   Congrats on preparation!