Comment by CGMthrowaway
6 hours ago
Add to Cook's impeccable timing, that he stepped out of CEO role and into Chairman on exactly his 65th birthday, the very day he became first eligible for his pension
6 hours ago
Add to Cook's impeccable timing, that he stepped out of CEO role and into Chairman on exactly his 65th birthday, the very day he became first eligible for his pension
Being eligible for Medicare, Cook can finally afford to retire.
Likewise he can probably defer his Social Security payments until 70, in order to get the higher benefit...
+1 for Medicare for the non-rich, though. I'm a retiree and the monthly payment is about 1/4 of what I was paying for health insurance before I was eligible.
> the monthly payment is about 1/4 of what I was paying for health insurance before I was eligible.
Maybe not, if you take into account the >$500/month subsidy of your Medicare Part A benefits (assuming you had the minimum number of calendar quarters paid in). And your Part B payment (the one usually deducted from your Soc Sec payment) is also partly subsidized unless your income is high enough to trigger IRMAA adjustment.
> defer his Social Security payments until 70, in order to get the higher benefit
People repeat this but when I ran the math on earlier Social Security payments it seems like the accrued $, by the time you're eligible for the higher benefit, is plenty similar as bonus income.
3 replies →
But is Medicare as good as the insurance you had before?
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With a fixed income, I'm worried he can't afford to upgrade his iPhone every year.
Humor seems difficult for people.
Don't worry, I got it.
At first I was thrown off by everyone calling him "Tim Cook"... we all know its pronounced "Tim Apple"
Hahahah yeah no I don't think he cares about a pension - I think you may be out of touch on this one friend. That is the funniest comment I have seen.
edit: I can't stop laughing about this. Imagine one of the most powerful/wealthiest CEOs on the planet timing his exit to max out his pension plan/company perks. Thats comedy gold - Seinfeld or Larry David episode.
Tim Cook refreshing his 401k page every day to see if he’s ready to FIRE.
I know this is a joke. But when I was at Vanguard, something like 95-99% of our users literally just logged on, checked their balance and logged off. A decent percentage of the user base does that every day. So only a few percentage a day actually made a trade or anything else. I always found it pretty odd before I realized I only make a trade 1 or 2% of the time.
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"Should I use a 3.5% or a 4% safe withdrawal rate? My house is paid off and I got a company pension, two dogs and a partner. Cars are paid off but our iPhones are on a payment plan till 2028. Net worth around $2.5 billion but highly concentrated in one company"
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exactly right - how funny is that to think about? His mental bandwidth to run Apple being overwritten by FIRE needs.
I can't stop laughing about this hypothetical.
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> That is the funniest comment I have seen.
You say it's funny, but the rest of your comment makes me think you didn't realize it was a joke.