"Ann, I did everything laid out in my plan and I’m not as far ahead as I would like," lamented my client Ross the other day. This contrasted completely with my meeting with Sylvia earlier in the week where it was I that was aggrieved, "Sylvia, you didn't do anything that I laid out in your plan last year!" To which she retorted accurately, "Yes—that’s true, but I did great financially anyway."
Tucked away on Greece’s rugged north Aegean coast lies a place seemingly frozen in time, where men lead simple lives much the same as they have for the past thousand years. It is a rocky, narrow peninsula covered in wooded valleys and terraced farms that comes to an abrupt end at a dramatic 6000-foot peak – the eponymous Mount Athos.
With thanks to my son, Peter Minnium Jr, for this guest post.
I met Gus and Lina at a campground outside of Leonidio, Greece, a beautiful community nestled in the rugged hills abutting the Aegean Sea. Leonidio attracts visitors year round with its beauty, fair climate, and perhaps most powerfully, its abundant rock climbing.
“I’m retired, mom,” said my 25 year-old son, in response to my monthly inquiry into his future plans. By now, I am used to his creative explanations as to why he is not grinding away in a junior position in the corporate world, but this topped them all. After I picked up my jaw from the floor and was able to speak again, I asked him to explain his logic. As a Financial Planner specialized in retirement, I waited eagerly to learn something new.
“Mom, I’m setting up my tent outside,” announced my world-traveling millennial son shortly after arriving home for a short visit. “Peter,” I said, perplexed, “I’ve kept your room in perfect condition—your TV, wifi, and air-conditioning are waiting for you!” “No thanks,” he replied, “The house is living too large for me, Mom, I’ve moved on to living small and I don’t want to go back.”
The World Cup is off to a great start. No sooner had I filled out my statistically based bracket, and the underdog Mexican team defeated the favored Germans. The revelry in Mexico allegedly set off a small earthquake! As you watch this exciting international contest this summer, keep in mind that the FIFA teams can teach us about more than just soccer.
The growing demand for more predictability and security planning for retirement income has led an increasing number of retirees and pre-retirees to look to annuities as way to provide more stability in their investment portfolios.
“Arghhhh,” I head from the basement as I puttered around my kitchen on Sunday morning.
“What about rising interest rates and the growing deficit?” asked Sue, a retiree, in a panicked tone of voice at a recent investment club meeting. “Isn’t anybody worried about these things?