July 2nd, 2010

Interesting words

"In the decline of life shame and grief are of short duration; whether it be that we bear easily what we have borne long; or that, finding ourselves in age less regarded, we less regard others; or that we look with slight regard upon afflictions to which we know that death is about to put an end."
Samuel Johnson

7 - UW payback

Another money entry. I checked my bank account today, worried a bit that my pension from the UW might not have shown up. No problem, as all the salespeople say these days. It was right there in my statement, posted today.

And I will get this amount every month till I die. It will even keep paying off to my wife after I die. The financial insight is this: In ten months I will have received in monthly payments more than I put in when I was working at the UW during the seventies. The rest will be gravy, made possible by the miracle of compound interest.

When I was in my thirties, retirement seemed impossibly far away, and putting part of my meager paycheck into the TIAA system was difficult. The fact that the UW equaled my contribution made it easier, but we lived a frugal lifestyle all that decade. Now I thank my younger self and take my reward for being a good boy, that younger self who looked exactly like the fellow up there in my picture at the top of this page.