The future

I have to talk to a TIAA financial consultant and you can do it weekdays in the evening, and on Saturday. I changed back to the aggressive formula, after years (at their urging) on the “moderately aggressive” formula. I would have spent my entire life on the very aggressive formula if they had not always told me it was unwise.

I always said I would not retire until I was 80 and it would be wisest not to, but given what I am seeing my father go through at 93 I am wondering whether I might think about 75 — although I’ve got an 80 year old colleague who is fine.

I don’t get social security and I am afraid of running out of money in my nineties. Should I set up an annuity? I will soon have about $1M in all. But I have debts as well, and that with no pension or much real estate equity is not a lot of money if you expect a long old age, as I do.

I don’t think I live in the right place to be old. That would be the reason to retire sooner; if I am to move, I must do it when I am still young enough to create current connections and networks in the place.

I used to believe I would inherit more than I will. I thought I would buy an apartment in a place that was better to be old in, or any age in, and visit it when classes weren’t in. So I would live in two places and transition easily when I was truly old and really did retire. I don’t think I will be able to do this.

What will you do — especially if you only live where you live because you work there, and if it is not where you want to be old?

Axé.

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