Random Thoughts on Retirement – aka The Dot Project

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Again, you can’t connect the dots looking forward; you can only connect them looking backward. So you have to trust that the dots will somehow connect in your future. You have to trust in something — your gut, destiny, life, karma, whatever. This approach has never let me down, and it has made all the difference in my life.

Steve Jobs

While writing random retirement thoughts the other day I noticed the similarities between A Plan is Not a Strategy – Update 08.03.22 and my Dot Project. Harvard Prof Robert Martin discusses how planning and strategy are different and that “integrative choices” collectively become strategy. These integrative choices are significant decisions you have made or choose to make that have life altering consequences. I come from a humble background and tend to shy away from BIG FANCY WORDS used by intellectuals and others who want to appear smarter than they truly are. So for me these choices or life decisions are Dots.

Dots. Big Dots. Little Dots. Even Do Nothing Dots where you decide not to do something are Dots. The decision not to do something can be as important to life outcomes as a decision to do something. The problem as Jobs tells it is true. You can only connect your Dots when looking backwards.

I started my Dot Project writing six years ago and got as far as jotting down Dots in my journal as writing prompts. So far I’ve documented about a dozen Dots but never got around to actually writing anything about them. Until today. I’ve reached the point in life where I am able to look backwards and Connect My Dots. My hope is the reader will find these insights to be useful in your own journey. My second hope is that my children and their children find my Dot Project and learn a tad bit more about where they came from.

The Dot Project and Random Thoughts on Retirement are one and the same. Next up – Save as Much as You Can Because Whatever You Manage to Save Will Never Be Enough – Random Thoughts on Retirement.

Scary Charts – 06.12.23

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Source: 3 in 4 managers find it difficult to work with GenZ — https://www.resumebuilder.com/3-in-4-managers-find-it-difficult-to-work-with-genz/

Source: Millennials or Gen Z: who’s doing the most job-hopping — https://www.careerbuilder.com/advice/blog/how-long-should-you-stay-in-a-job

There’s no malicious intent here. I’m not playing generational war games. Any relationship you see between these two survey results could simply be spurious.

Or not.

More Random Thoughts on Retirement – June 2023

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Another quiet Sunday and I’m thinking about retirement (again). Writers read a lot. I’ll typically have quite a number of books started in various stages of completion. Recently I started reading the first in a series of books titled The Write Quotes: The Writing Life. The quotes paint similarities of thoughts and experiences and are amazing. You realize you are never alone in any of life’s adventures.

Since 2021, more than 1.5 million seniors have reentered the workforce. There were about 10.6 million people ages 65 to 74 employed in 2020, according to 2021 data from the U.S. Labor Department.

That number is expected to increase.

Retiring from retirement: Whether for financial reasons or boredom, a growing number of older adults are rejoining the workforce — https://triblive.com/local/valley-news-dispatch/back-to-work-whether-for-financial-reasons-or-boredom-a-growing-number-of-older-adults-are-rejoining-the-workforce/

Just last month I came to the realization that (I am) Flunking Retirement. When 65 rolled around I started collecting a small corporate defined benefit pension. Years ago the monthly amount had a lot more purchasing power than it does now. Still, I feel fortunate to have this income stream.

In yesteryear, the pension was a staple of the American working class experience—reach retirement age and you could expect to live out your years modestly, yet comfortably, off of monthly payments from your former employer. However, since the 1980s, companies offering pensions are a dwindling breed. Instead, most employers offer defined contribution programs such as 401(k) plans. Only a handful of industries (such as the military, public works and education) still offer pension plans to their retirees.

Why Pensions Are Dying And How You Can Create Your Own —https://www.forbes.com/sites/forbesfinancecouncil/2023/06/05/why-pensions-are-dying-and-how-you-can-create-your-own/?sh=4970c87ec9d4

When I reached my US Social Security FRA (full retirement age) I didn’t retire nor start collecting benefits. Delaying social security payments until age 70 translates into about an 8% increase in benefits annually. If you’re healthy and you don’t need the income for necessities, it’s worth the wait.

Working longer is a powerful lever. Social Security benefits claimed at 70 instead of at 62 are at least 76 percent higher, and the additional years of work allow 401(k) assets to increase and reduce the period of time that the assets need to cover. In fact, my research shows that the vast majority of millennials will be fine if they work to age 70. And although that might sound old, it’s historically normal in another sense: Retiring at 70 leaves the ratio of retirement to working years the same as when Social Security was originally introduced.

Millennials and retirement: How bad is it? — https://www.politico.com/agenda/story/2018/06/07/millennials-preparing-for-retirement-000670/

Millennials are not the only generation ill-prepared for retirement.

America’s 65 million Generation Xers (born between 1965 and 1980) are confronted with a new set of financial challenges that are redefining their plans for retirement, just as they enter their final working years, according to Prudential Financial, Inc.’s latest Pulse research survey, “Gen X: Retirement Revised.”

Generation X confronts harsh new reality of retirement: unreadiness — https://news.prudential.com/generation-x-confronts-harsh-new-reality-retirement-unreadiness.htm

Remember A Plan is Not a Strategy – Update 08.03.22? Having a plan for retirement is great but not all plans turn out as planned. My last executive position ended up being my last executive position and trust me, that was not what I planned. It’s a good thing that my strategy worked a lot better than my plans.

Stay tuned for the next installment of my random thoughts on retirement where I will document (finally) the integrative choices I’ve made that comprise my retirement strategy.

Scary Charts (Beyond BMI) – 06.04.23

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The value of the BMI for tracking the current epidemic of obesity is clearly illustrated in the study by Rodgers et al., which traced the change in the BMI for many subgroups of the US population from 1962 to the year 2000 [23]. (See Figure 1) They showed that the US epidemic of obesity began about 1975 in all age, sex and ethnic groups and continued over the next 25 years. This fact limits the plausible explanations for the current epidemic of obesity. Rodgers and colleagues believe that it is implausible that each age, sex and ethnic group, with massive differences in life experience and attitudes, had a simultaneous decline in willpower related to healthy nutrition or exercise, or that intrauterine exposures played a major causative role. Likewise, changes in genetic make-up are unlikely to have occurred over this short period and to have affected all age groups simultaneously. Similarly, they note that it is unlikely that any factor with a long induction period had a major role in the US epidemic. Rather, they believe that the epidemic must have been caused by factors that led to rapid population-wide changes such as changes in the food supply, and I tend to agree with their conclusion.

Beyond BMI by George A. Bray – Nutrients 2023, 15(10), 2254 – https://doi.org/10.3390/nu15102254

Agree.

Where Are These People Coming From?

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  • “An influx of Texans and Californians. Texans and Californians moved to the Sooner State at historic rates in 2020 and 2021. Oklahoma saw a net gain of about 8,500 Californians and 7,300 Texans in those years. Other states showing increased interest are Colorado and Arizona.”
  • “Growing metro areas. Tulsa is growing fast, but Oklahoma City is one of the fastest-growing large cities in America. Oklahoma City recently climbed past Boston to become the nation’s 20th-largest city by population. In recent decades, OKC has spent millions of dollars to remake the city, adding new parks, a streetcar system, and a brand-new basketball arena.”
  • “Diverse and robust city economies. Many parts of Oklahoma rely heavily on the energy industry, but not all. Large areas like Tulsa also specialize in services industries, which have seen the most growth nationwide in the past decade. Tulsa’s economy also specializes in key sectors like transportation and warehousing, information technology, professional and business services, and health care.”
  • “Where are new Oklahoma residents coming from? The top states moving to Oklahoma are Texas (17.2%), California (15.6%), and Florida (6.4%).
Remember Oklahoma’s ‘brain drain’? Here’s what’s happened since it was declared plugged –Richard Mize The Oklahoman May 11, 2023

No link to the full article as it’s behind a paywall.

The next question is why are people moving to Oklahoma?

For the Fried Pies, of course – Arbuckle Mountain Fried Pies named the best snack in Oklahoma https://www.oklahoman.com/story/lifestyle/food/2023/05/23/arbuckle-mountain-fried-pies-oklahoma-food-and-wine-best-snacks-us/70248275007/

Or could it be the cost of housing? Cheap Houses and Awe Inspiring Tornadoes

Take Your Vitamins

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In the current study, more than 3,500 adults (mostly non-Hispanic white) over age 60 were randomly assigned to take a daily multivitamin supplement or placebo for three years. At the end of each year, participants performed a series of online cognitive assessments at home designed to test memory function of the hippocampus, an area of the brain that is affected by normal aging. The COSMOS-Web study is part of a large clinical trial led by Brigham & Women’s Hospital and Harvard called the COcoa Supplement and Multivitamin Outcomes Study (COSMOS).

By the end of the first year, memory improved for people taking a daily multivitamin, compared with those taking a placebo. The researchers estimate the improvement, which was sustained over the three-year study period, was equivalent to about three years of age-related memory decline. The effect was more pronounced in participants with underlying cardiovascular disease.

Columbia University Irving Medical Center. “Multivitamin improves memory in older adults, study finds.” ScienceDaily. http://www.sciencedaily.com/releases/2023/05/230524181916.htm (accessed May 25, 2023).

Quote for Today – 05.20.23

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“Writing memoir may bring ways of seeing the past from an angle that changes it a bit, moments you had forgotten that show up. If you have these surprises, maybe you are thinking of avoiding them. Don’t. Because part of the deal in memoir is having to face things you’d rather not know, especially about yourself. We all have things we’ve buried, if they appear you need to dig them up and take a look at yourself from what may be an unattractive angle…So it has to all come out and get looked at honestly. If it belongs, then it goes in the book. If not, then we’ve learned something worth knowing about our role in our own lives, and in the lives of others. It’s about clarity, which really is the best gift we could give ourselves, and as it turns out, it is useful to others.”

Abigail Thomas

Quotes for Today – 05.19.23

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“A master in the art of living draws no sharp distinction between his work and his play; his labor and his leisure; his mind and his body; his education and his recreation. He hardly knows which is which. He simply pursues his vision of excellence through whatever he is doing, and leaves others to determine whether he is working or playing. To himself, he always appears to be doing both.”

Lawrence Pearsall Jacks, educator and Unitarian minister.

“I love playing, it’s just part of me now, and it was then, at 13. I had the dream to play drums, and I ended up being that person, and I’m still that person.

Ringo Starr – 82 years young

Like I said, I think (I am) Flunking Retirement