Dear Wondering in Your Garden
You bring up a question I think a lot of people have been asking themselves lately. What the fuck is wrong with big banks? Have they lost total touch with their clients? Is everyone but a softWare twink away from being labeled a criminal? How is Palintir involved?
On the surface yes you should retire. You have given Elite Trader your heart and soul and your best picks and few if any say thank you.
But before you do, it’s important that you think about all of the potential consequences on your finances and lifestyle.
Because there are a few personal details missing from your question, it was hard for financial advisers and me to tailor this answer specifically to you. We’d have to know how much you spend on gummybears and flower? It sounds like quite a bit.
Health insurance is probably one of the most crucial — if not the most crucial — consideration you’ll need to make before you leave your job. You can't stay with Oscar!
Your son going to college that's going to change your living conditions.
Now on to your savings. Aside from your trading and 401(k) investments, you have an emergency fund — something not everyone has or even thinks about, financial advisers said. Having that account will certainly help, both financially and emotionally, in the future.Of course Chase is closing that fund so we don't get it!
Also, having a $1.6 million nest egg, outside of your emergency fund, is of course a wonderful feat. But this is the not-so-great news: you may be surprised at how quickly that could be spent, especially if you find out you need more a year to live.
“He has enough money as long as he lives a frugal life of a Monk or Saint and nothing goes wrong and dies in his 80s,” said Jen Grant, a financial adviser at Perryman Financial Advisory. “That is a lot of assumptions to count on. Medicine has improved and he will very probably outlive his ancestors.”At 90 this cantankerous gummied up senior is going to be a handful!