PART V: LORD & RICHARDS
Finally, the Brick was able to do what he'd hoped: retire, years before he had hoped to. Now the years that he'd remained in a lower-paid state employee position were paying off, in the form of a monthly pension. He took the 'beneficiary' option, which meant a smaller amount in the monthly check -- but if something happened to him, I would still get the same amount. (Yes, he's that kind of thoughtful guy.)
Wonderful.
Even better, the decades of contributions we'd made, bit by bit, added up substantially. The money was enough for extra bills, filling in cracks...and with the sale of the house, even would let us knock off a huge item on our mutual bucket list: a round-the-world cruise.
But it wasn't enough for us to feel confident that it would last the rest of our lives.
Enter Lord & Richards.
Did we research investment firms, just as we had with houses, cars, appliances and other large purchases?
Of course. We couldn't help ourselves -- it's in our DNA now, just like checking the discount aisle.
In case you're wondering, the 'Lord' who is partnering with Colin Richards, the other principal in the firm, is the same Boss as our Lord. Yes, this is a firm largely made up of Christians. One of their goals is to use a hefty share of the profit from the business to help fund schools and help the poor -- which they've done.
Their office is quietly elegant -- but not uber riche, like some of the firms we investigated.
The men and women who work there (particularly our advisors, Jason and John) have gone out of their way to not only explain various plans in detail, taking our own appetite for risk into account-- but they've sent cards when the Brick was in the hospital, checked on us -- and set up the account in such a way that we can check every single day on progress, if we want to.
And pull our funds out, any time we want to.
How many firms will let you do that? Not many.
Our funds are set up in three sections:
* The first covers any immediate expenses we might need. (Think money market or savings account.)
*The second: longer-term expenses. (This has a little more volatility, including stock market investments.)
*The third plan not only provides for our estate, but uses a special annuity. It can be redeemed for nursing and home care, if needed. (This was a special worry to the Brick, since we had no insurance to cover that-- and our age made getting it expensive. I like this arrangement much better. If we don't need it, the money stays in place -- unlike having it disappear into premiums for long-term care plans.)
This firm is not only helpful -- it's practical. It charges a small set percentage each year while it manages our money. (Lord & Richards relies on the advice of a number of financial experts who watch the market and world events, to help them do a better job at that.) If our accounts make less, due to a market downturn, then they make less. If our money does better, they do, too.
I like that, as well. Transparent AND straightforward.
No extravagant promises about extra-large returns, a la Bernie Madoff.
Just quiet, steady growth.
Access to our account, 24/7 -- even when we're on the road, traveling.
(this was another big plus for us, knowing we would eventually live in the trailer.)
What if the world ends...and we lose everything?
We have lived on less income for so long that we would do just fine.
The pension is wonderful; it lets the Brick put time and energy into things he wants to -- rather than whatever the office needs. When Social Security kicks in -- and unlike many state employees, the Brick worked long enough at other jobs that he still qualifies for this, as well, in a reduced amount -- it will just be gravy on top.
I like what I'm doing...and want to continue it. I have more teaching and appraising to do, and would like to write a few more books. (Not to mention articles -- and this blog!)
The one sticking point is right NOW. If we behave ourselves and hold off from pulling anything from available funds, we'll be a lot better off a few years from now. (Ironically, that's what the Brick is also fully eligible for SS.) And we can do that more easily if we start offloading items like our extra car.
IF we're careful. Having to account to you, Gentle Readers, in the Frugal Hits & Misses reports, helps keep me on track.
Even if we remain status quo, we can keep going -- my extra income has nicely filled in the gaps, and God willing, the Brick's health is going to continue to improve.
But this would not have been possible, particularly on our modest income, if we hadn't saved regularly over the years.
Trust me. If you're not doing that now -- please start. It's never too late.
Note: I am not making a cent by endorsing Lord & Richards. I just believe strongly in this company. By far, they were the most practical and useful firm we talked with -- and we heard presentations from several. They'll also make the initial meeting free. Give them a call -- use the link here, or on their website -- and tell them Dave and Cindy Brick sent you.
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