Bruce Fuller
Miscellaneous
If there were a 100% chance to win $80,000 vs. 80% chance of winning $100,000?
Would go with $80,000 bc there's not a large difference. If it was an 80% chance to win 1 mil, then would gamble.
Wish: if I had a lot of money, I would play on world poker tour: $10,000 buy in
As is, couldn't waste that much money
Process
How often informed/meeting
Updating on investment progress: don't want to know that often. Quarterly or bi yearly at most. Unless assets are being moved, then inform and tell why
Regualr "yearly" updates and maintenace meetings: "as little as possible"
Wife is the only other person involved, together we manage different accounts
If advised by financial planner, I would implement the plan.
Confidentiality: phones never secure, anything extremely touchy in person
Regular/normal things are fine through email or phone
Meetings: talk in person
Prefer email: hard copy and can reread
Relationships
Schools
Appreciated them at the time, but don't have some large fortune to leave to them
Maybe if I were really wealthy and had disposable income to throw money at the school
Community
Fire Company: can trust them at fire scenes, can trust them with other things. Network to ask of with general questions as they all are in different professions
Others impacted by financial decisions:
Dog: health issues and has significant medications: if funds decreased, daughters would have to chip in or he'd have to be put down.
Daughters: youngest is still in college
Usually ok
Parents: both retired and still working on houses they buy and sell
Sister Roberta (Married, 3 boys)
Brother (Married, 1 girl, 1 boy)
Wife: Marett
Daughter Brittany 23
Daughter Caitlin 21
Daughter Alyssa 19
Work
Better to get along with those at work than not to
Talk more with some: Lunch colleagues, golf and cards people through work
After retirement: won't see them as much. Maybe once or twice a year. But enjoy talking with
Try to put an effort forth, some can be more difficult than others
Values
Biggest challenge
Graduate courses while workin full time
Figured suck it up; rather than feel guilty on nights when I didn't do homework (went out instead), devote to Sunday as homework day and did things during the week that I wanted.
View of money:
Level of comfort
Can have some choices, not stuck to a budget, can eat out occasionally if I want to, won't be restricted if I'm asked to golf with people from work
Time most content with financial situation: only content when you don't know any better.
Happiest when first got a job with "lots" of money coming in when single, low expenses and living at home
When first out of work, didn't contribute to retirement plan offered bc didn't know how long I'd work there and figured I still had a long time to retire
Who to care for? Me. Children are grown up.
Just want to provide for my expenses at death
Family
When people are together, but can be hard to find time
Defining moment: Brother was in an accident - hadn't started college yet
Parents up at Strong with him, he was in a coma but parents told me to keep going to classes in high school bc there was nothing for me to do there
Didn't necessarily learn a major lesson, just a traumatic experience
More important than money: want to be able to help family (siblings, parents, children) if necessary
Interests
When thinking of activities to do still, not a huge fan of risk
Already been to Hawaii, Vegas, many national parks, don't care about overseas
Don't care to visit any for a second time as they haven't changed much.
As getting older, seem to be more resistant to change
Fitness isn't important to the degree that time to go to a gym, but effort is made to eat well and get some exercise, enough to avoid health problems and being severely overweight.
Volunteer Fire Company: difficult to be actively involved bc of risks (fire, accidents when people driving by)
Wasn't in armed forces, this is how to give back
Ideal vacation: winning Texas Hold 'Em tournament
Board games: because of family time and gets everyone together
Wished did more: shooting, if there were target ranges around - more than just rod and gun club
Hobbies: fix/tinker on house and cars. Cars especially but newer ones have become more of a pain
No watching sports; used to play but not anymore
Advisors
No consistent professional advisors of any kind
Past Experience: Bad. Broker contact and push what they want to sell only for it to bottom out months later. Probably sold out the interests for their richer clients and sold off to me just for high commission.
"Never needed a financial adviser because I don't need someone to tell me to pay bills and use what's left for food"
Only experience: lawyer to make wills many years ago. Looking into updating them.
Thinking of updating current one
No trust for kids bc of government involvement, and they can handle the money left over
Ideally, there will be no money left over after expenses of death. "Don't want someone to profit from my death, just as I don't want to profit from my parent's"
There won't be much to manage
Goals
Personal goals: none really
There were never any huge plans that work prevented
Just comfortable retirement - but don't think it will happen
Ideal retirement won't ever happen: with S.S. how it's going and mailings that say "don't think of it as never working anymore, just less at a lower stress job"
If still working, going to keep working with decent salary as is, not as say a janitor
Will probably keep working until death
Where to end up at retirement: if I could be near family and more south: S. PA, N Carolina, Virginia
In-land, don't need beach. More private, like current house: rural/country
Don't particularly want to stay in NY, but feel stuck. Over 50 and the hassle of moving and starting over
May be possible if offered a job that paid better
Maybe go back to teaching - lower stress, only what you put on yourself
Really only go back if industry fails and is comfortable with lower salary bc teaching would be more stable
Once retired, may teach part-time, only to keep busy
75: still be alive and retired
65: hoping to have come into large sum (lottery) and retire
55: mostly like what I'm doing/have now
Greater salary
Ideal quality of life: making twice what I'm making at the time. Salary double ~ every two years.
Improve quality every year
However, content with current house.
Be penny-less on the day I die, rather than handing large amounts off
Win lottery to be able to split up with loved ones
What else out of professional life: have nothing bad named after me: design flaw complications leading to disaster
Greatest accomplishment: being able to usually help people. Have 1 US patent
In 5 years: no big plans. When posed the 5 year question: keep quiet so no one would know.
History
1st job: drafting at Preheater in Wellsville
Had tried to get one through college (grocery store, etc) but couldn't get hired as a student.
In high school played sports, didn't have time for work
Did help dad with cars before, one time completely dug out walls around a garage so caving wall could be pushed back out and supported
First experience with money: allowance. "When it's gone, it's gone"
"If you don't have it to begin with, you don't miss it." Family didn't get a TV until ~'67
Helped you save: Rather than blowing on small, disposable things every week, save for something nicer bc of the fixed amount.
Scio NY after PA and graduated from HS
Parents moved ~every year: fixed houses for income and enjoyed it
Middle class growing up, no monetary issues but had low expectations when buying "new" things. Repurposed old cowboy boots by dying them.
Only loan from parents was towards first car
No real discussion of money
Had a weekly allowance
Genesee PA till 3rd grade
