Search found 6892 matches
- Tue Dec 20, 2022 1:01 pm
- Forum: Personal Investments
- Topic: Safe Withdrawal Rate vs Safe Spend Rate
- Replies: 63
- Views: 6059
Re: Safe Withdrawal Rate vs Safe Spend Rate
I don't withdraw from our TIRAs and not spend it. We do; it's called RMD's, which is used to pay FIT on the withdrawal along with FIT on all other retirement taxable income (e.g. SS, SPIA, Pensions, etc.) and we always have more withdrawn due to current tax laws than needed to pay expenses. Excess RMD's go into savings for future unfunded expenses - whatever and whenever they may come about. That might be next month or years from now. We don't reinvest the excess into taxable. Our retirement investment (which contain TIRA's and Roth holdings) withdrawals have been under 3.5% for the last five years. Next year (based upon current numbers) the withdrawal rate will be 3.372%. I count the withdrawal rate on only our designated retirement portf...
- Mon Dec 19, 2022 7:13 am
- Forum: Personal Investments
- Topic: Immediate annuity at age 44?___High interest rates right now!
- Replies: 20
- Views: 3145
Re: Immediate annuity at age 44?___High interest rates right now!
Also, if I read your post correctly, it looks like you’re thinking of committing 90% of your assets ($500k out of $550k) to a SPIA. I don’t think that insurance companies will issue an annuity that relatively large, due to their “suitability” guidelines. I’ve heard of an informal limit of about 50% in annuities at the maximum. We had to "attest" by signing the application that the premium I/we were paying for my/our SPIA did not represent more than 50% of our joint retirement funds at the time. That was 15 years ago (at age 59), so the requirement could have changed. However even if it did, I would say it would be good practice not to exceed that limit. BTW, the premium paid represented only 10% of our joint retirement investment...
- Sun Dec 18, 2022 11:23 am
- Forum: Personal Consumer Issues
- Topic: Should I ask the hospital for an itemized bill even if it matches insurance EOB?
- Replies: 19
- Views: 2252
Re: Should I ask the hospital for an itemized bill even if it matches insurance EOB?
I feel the same. I had one hospital stay in 2020 (with one inpatient operation) along with one hospital outpatient operation. My wife had two hospital stays this year, one with an inpatient operation and the other for observation.
The only thing I cared about was my out of pocket charges/costs. Between Medicare and our medigap coverage (part F), we did not have to pay a penny for any of the "work" that was performed beyond our Medicare/medigap premiums.
- Ron
- Sun Dec 18, 2022 9:50 am
- Forum: Personal Finance (Not Investing)
- Topic: Another tipping question - washing machine delivery and installation
- Replies: 40
- Views: 3734
Re: Another tipping question - washing machine delivery and installation
We had two workmen at our home yesterday (Saturday), installing two exterior doors (that we ordered over six months ago ). They were working in sub-freezing temps but still did an excellent job IMHO.
Due to the working conditions and we can certainly afford to act as Santa and Mrs Claus, I tipped them each $20 to have a couple of drinks on us to warm up...
- Ron
Due to the working conditions and we can certainly afford to act as Santa and Mrs Claus, I tipped them each $20 to have a couple of drinks on us to warm up...
- Ron
- Sat Dec 17, 2022 9:47 am
- Forum: Personal Finance (Not Investing)
- Topic: Is it safe to assume that RMDs won't deplete one's portfolio?
- Replies: 83
- Views: 11173
Re: Is it safe to assume that RMDs won't deplete one's portfolio?
That's exactly what we do. Our RMD's for the past 5 years have shown a withdrawal rate of just under 3.5% against our combined TIRA's & Roth IRA retirement accounts. I don't see us surpassing the magic 4% anytime in the near future since RMD's are only calculated against our TIRA's and we don't have intentions of drawing against our Roth IRA's during our lifetime.
- Ron
- Tue Dec 13, 2022 2:38 pm
- Forum: Personal Investments
- Topic: Cash Balance into Anuity?
- Replies: 13
- Views: 1634
Re: Cash Balance into Anuity?
I retired 15 years ago at age 59 and had a cash balance plan. The two options I was given at the time was to get an annuity (SPIA) purchased through the company or take the lump sum. I suspect the company was getting a bit of "vig" on the deal since I could get better policy terms doing my own research. After doing research on SPIA's, I decided to take the lump sum and purchase my own policy by going with a company that provided better monthly income, along with better terms. The company's plan only provided 50% to my wife, while the SPIA I purchased provided 100% upon my passing, assuming I predeceased her. Also, the policy provided guaranteed payments for 28 years (until age 87). The company sponsored plan stopped payments once ...
- Tue Dec 06, 2022 7:26 am
- Forum: Personal Investments
- Topic: What is "bad" about using money from a Roth conversion to pay taxes?
- Replies: 12
- Views: 1960
Re: What is "bad" about using money from a Roth conversion to pay taxes?
if your heirs are in the 3X% brackets then paying 2X% from the funds definitely makes sense. if your heirs are in the 1X% brackets, but you are paying in the 2X%, then it's hard to create a scenario that works. That's the situation we're in now. Being older, we only had the Roth IRA's available to us (wife/me) for 10 years, and no access to Roth 401(k)'s, which means we have a 85/15 Traditional vs Roth split. We did not have the taxable funds to make the conversion at the time. Today (in our mid-70's) we have the cash to make the conversion but we still won't. The Trad/Roth funds will be inherited by our adult disabled son, who has very little income beyond his Social Security Disability payment. Needless to say, he pays no FIT now and his...
- Tue Dec 06, 2022 7:15 am
- Forum: Personal Consumer Issues
- Topic: How does buying a car work these days?
- Replies: 72
- Views: 9719
Re: How does buying a car work these days?
My son ordered a '23 Subaru late September and it was delivered mid-November with only the options he wanted and paid MRSP without any dealer add-on's.
He wholesaled his old car (13 year old Pontiac) and kept it out of the deal for the new vehicle. Simple process.
- Ron
He wholesaled his old car (13 year old Pontiac) and kept it out of the deal for the new vehicle. Simple process.
- Ron
- Fri Dec 02, 2022 8:42 pm
- Forum: Personal Consumer Issues
- Topic: Broadway - Funny Girl Tickets
- Replies: 20
- Views: 2177
Re: Broadway - Funny Girl Tickets
Fly from Pittsburgh International to New York Liberty (EWR). From there you can get an Uber into the city to drop you off right at the theatre door.
Add a night in NYC before/after depending on when the show is (matinee or night).
Another option is to fly to ABE (Allentown/Bethlehem), Uber to Hotel Bethlehem (in the heart of Christmas City) and take a limo or bus (Trans Bridge bus depot is near the airport and can drop you off at Port Authority Bus Terminal, or schedule a limo service such as A&A or J&J to take you from Hotel Bethlehem into the city - about 80-90 miles if you rather not stay in Manhattan).
- Ron
Add a night in NYC before/after depending on when the show is (matinee or night).
Another option is to fly to ABE (Allentown/Bethlehem), Uber to Hotel Bethlehem (in the heart of Christmas City) and take a limo or bus (Trans Bridge bus depot is near the airport and can drop you off at Port Authority Bus Terminal, or schedule a limo service such as A&A or J&J to take you from Hotel Bethlehem into the city - about 80-90 miles if you rather not stay in Manhattan).
- Ron
- Wed Nov 30, 2022 6:46 am
- Forum: Personal Finance (Not Investing)
- Topic: Medicare Part D (Drug Plans)-Any Gotchas?
- Replies: 44
- Views: 4171
Re: Medicare Part D (Drug Plans)-Any Gotchas?
GoodRx is invaluable for generic & tier 1 & maybe tier 2 medications, but worthless for tier 3 & above. Recently ordered my blood thinner from CVS-Caremark. A 3 month supply cost me $418. Best price on GoodRx was $1450 for the same quantity. Most of their affiliate pharmacies were in the $1550 range. My injectable replacement for atorvastatin is $129 for a months worth & $478 thru GoodRx. They are a great option for lesser priced medications! Unfortunately, I've found the same pricing disconnect with GoodRx on my tier 3/4 meds which I've been on for years. The only "discount" I'll have in the future is if/when the Part D out of pocket deductible/co-pay is limited to $2k, which will save me a couple of $thousand on...
- Tue Nov 29, 2022 10:26 am
- Forum: Personal Investments
- Topic: Fidelity Household View
- Replies: 20
- Views: 3985
Re: Fidelity Household View
I recommend avoiding Fidelity's Full View and similar services at VG. For this, Fidelity uses a third party service to store logon credentials to your non-Fidelity accounts and to access that account information. If that service were to be hacked, all kinds of your financial account information, including logon credentials, could become available for malicious use. IMHO, the convenience of Full View is just not worth the security risk, regardless of what reassurances you are given about the security profile of the Full View vendor. I discontinued my Full View on Fidelity years ago after I read an article about the risks. https://emoneyadvisor.com/security/ I feel confident in eMoney's security policy. If you're not, that's your decision. -...
- Tue Nov 29, 2022 9:55 am
- Forum: Personal Finance (Not Investing)
- Topic: Medicare Part D (Drug Plans)-Any Gotchas?
- Replies: 44
- Views: 4171
Re: Medicare Part D (Drug Plans)-Any Gotchas?
- Tue Nov 29, 2022 7:35 am
- Forum: Personal Investments
- Topic: Fidelity Household View
- Replies: 20
- Views: 3985
- Tue Nov 29, 2022 7:32 am
- Forum: Personal Finance (Not Investing)
- Topic: Medicare Part D (Drug Plans)-Any Gotchas?
- Replies: 44
- Views: 4171
- Tue Nov 29, 2022 7:17 am
- Forum: Personal Finance (Not Investing)
- Topic: Medicare Part D (Drug Plans)-Any Gotchas?
- Replies: 44
- Views: 4171
Re: Medicare Part D (Drug Plans)-Any Gotchas?
As one ages and starts down the pharmacy route to better living is it possible to swap out plans annually with no penalty or problem? I/wife have been on Medicare Part D for the last decade and have changed plans at least a half-dozen times during that period without any problem. The annual comparison tool under medicare.gov showed that based upon changes in plans/coverage saved a bit each time we changed, and sometimes coming back to a plan that we had in the past. My wife/me are on different plans/providers so most of the time we are paying different companies for the coverage depending on our meds. Just be sure to plug in all your current/expected meds for the year to get a total outlay picture. Premium is just one factor of the decisio...
- Sat Nov 26, 2022 8:07 am
- Forum: Investing - Theory, News & General
- Topic: Withdrawal based on net worth?
- Replies: 39
- Views: 5085
Re: Withdrawal based on net worth?
I/we don't FWIW (which is little).
Our withdrawals are strictly based upon the current RMD requirements against our total retirement investments (not home value, not bank account balances, not cash in our pockets/purse).
We started calculating our withdrawal %'s at age 70. At that age I/wife's started SS along with required RMD's. Our combined annual retirement withdrawals since that time (5 years) along with our forecast 2023 withdrawals (6 years total) comes out to less than 3.5% per year.
- Ron
Our withdrawals are strictly based upon the current RMD requirements against our total retirement investments (not home value, not bank account balances, not cash in our pockets/purse).
We started calculating our withdrawal %'s at age 70. At that age I/wife's started SS along with required RMD's. Our combined annual retirement withdrawals since that time (5 years) along with our forecast 2023 withdrawals (6 years total) comes out to less than 3.5% per year.
- Ron
- Thu Nov 24, 2022 8:35 am
- Forum: Personal Finance (Not Investing)
- Topic: Buy a car before retirement or after retiring?
- Replies: 34
- Views: 3802
Re: Buy a car before retirement or after retiring?
There will be no "good" time to buy a car, just buy it when you really need one. I would agree. I've purchased two vehicles since I've retired, some 15 years ago. The first was about a year after I retired (2007) and started doing Meals on Wheels volunteer food deliveries. At the time, I was driving an 18 year old Olds Cutlass Ciera sedan which still worked well but it was a pain trying to put the coolers in the back seat/trunk. I traded it in for a three year old off lease 2005 Caddy SRX which I drove for an additional 7 years and traded it at the 10 year mark. Purchased a 2015 GMC Acadia (new) and still drive that car today. With only 25k currently on the odometer, it will probably driven to the graveyard about the same time as...
- Thu Nov 24, 2022 8:25 am
- Forum: Personal Investments
- Topic: Accuracy of the "Monte Carlo" Simulations?
- Replies: 128
- Views: 10107
- Thu Nov 24, 2022 8:20 am
- Forum: Personal Investments
- Topic: Accuracy of the "Monte Carlo" Simulations?
- Replies: 128
- Views: 10107
Re: Accuracy of the "Monte Carlo" Simulations?
Just for giggles, I just compared FIDO's planning tool report created on May 1, 2007 (my retirement date) vs today's report. What I found was that the total value of my/wife's retirement portfolios is 66% higher today than forecast 15 years ago, at the same age on the report. Which forecast from 15 years ago did you compare to? Average, below average, or significantly leave below average? Back then, the FIDO tool defaulted to a "extremely conservative market performance" measurement. They did not have the breakdown as is available in today's tool. From the report: "You have a 90% historical likelihood that your money may last at least to the age you planned for, 94. This was determined from your input, using an extremely con...
- Wed Nov 23, 2022 9:50 am
- Forum: Personal Investments
- Topic: Accuracy of the "Monte Carlo" Simulations?
- Replies: 128
- Views: 10107
Re: Accuracy of the "Monte Carlo" Simulations?
Just for giggles, I just compared FIDO's planning tool report created on May 1, 2007 (my retirement date) vs today's report. What I found was that the total value of my/wife's retirement portfolios is 66% higher today than forecast 15 years ago, at the same age on the report. It also shows (correctly) that RMD's forecast wayback then are much lower than what we are actually withdrawing today. Joint SS income is 25% higher at the same age than what was forecast back then. All this shows is that the primary forecast tool we used years ago to help us make retirement decisions greatly underestimated the actual income and portfolio values we have today. It also didn't match reality to decisions on SS (Forecast - both take at age 66 vs. reality -...
- Mon Nov 21, 2022 11:14 am
- Forum: Personal Finance (Not Investing)
- Topic: My solar array has insulated me from an almost doubling of power costs
- Replies: 51
- Views: 7881
Re: My solar array has insulated me from an almost doubling of power costs
At my age (75 in just over a month) I don't go long term on anything that can't be consumed within a very short period of time - be it fish or solar panels
- Ron
- Ron
- Mon Nov 21, 2022 11:08 am
- Forum: Personal Investments
- Topic: What did you do with your monthly mortgage payment amount after your house was paid off?
- Replies: 48
- Views: 4503
Re: What did you do with your monthly mortgage payment amount after your house was paid off?
Our 30 year fixed (6.875%) was paid off in late 1999. We took the mortgage note payment, along with the extra money we were paying each month (to pay down the note early) and put it into the market.
As it turned out, while most of our co-workers were putting their money in the market (and some taking out a second mortgage to do so) in the late 1990's during the tech runup, we did the opposite. Our payback was that during the market downturn of the early 2000's, we were able to invest "on the cheap". It also led to being able to retire much earlier than originally planned.
- Ron
As it turned out, while most of our co-workers were putting their money in the market (and some taking out a second mortgage to do so) in the late 1990's during the tech runup, we did the opposite. Our payback was that during the market downturn of the early 2000's, we were able to invest "on the cheap". It also led to being able to retire much earlier than originally planned.
- Ron
- Mon Nov 21, 2022 10:48 am
- Forum: Personal Consumer Issues
- Topic: HVAC mystery
- Replies: 40
- Views: 2735
Re: HVAC mystery
We used to get such report cards from our electricity supplier years ago, but they have been eliminated. Like you, our usage was matched against our "neighbors", without specifying who those neighbors actually were. Our backyard property line borders on a development with homes that were built 10-20 years after us, with conditioned square footage of 1.5 to 2.5 larger than our home. Their heating/cooking is supplied by NG. Our home is fully electric (heat pump). In the opposite direction, within two blocks, lies a development that is 20 years older than ours with conditioned areas less than ours and heating provided by fuel oil. I asked our electric utility to explain how they actually computed the data and who my neighbors actuall...
- Mon Nov 21, 2022 7:31 am
- Forum: Personal Consumer Issues
- Topic: Medicare Part D and Prior Authorization
- Replies: 14
- Views: 1589
Re: Medicare Part D and Prior Authorization
I go through this every year for one of my meds. My then current Part D provider faxes a form to my doctor's office, it is filled out and returned via fax, and the approval usually takes 24-48 hours.
Not a problem at all. I've been doing this for the last 10 years.
- Ron
Not a problem at all. I've been doing this for the last 10 years.
- Ron
- Sun Nov 20, 2022 1:11 pm
- Forum: Personal Finance (Not Investing)
- Topic: Finally pushed too hard at work - RETIRING!
- Replies: 284
- Views: 24202
Re: Finally pushed too hard at work - RETIRING!
I could not imagine giving anyone 9 months notice or even 6 months or possibly even 3 months noticed when I'm leaving a job. Give 2 weeks or whatever and retire, you've earned it. If they don't like it, it is their problem. This stuff about employees always going the extra mile while few companies do is tiresome to me. A job is a job. Life is much more. Quitting to pursue another job is one thing; retirement is something quite different IMHO. I retired (15 years ago) from an international company with operations in 20 different countries around the world. Headquarters (and my various bosses over the years) was located in europe, along with global HR. We had many folks that took cross country assignments as they came up. Corporate requested...
- Sun Nov 20, 2022 9:47 am
- Forum: Personal Finance (Not Investing)
- Topic: Social Security account showing COLA a month early
- Replies: 52
- Views: 6271
- Sun Nov 20, 2022 8:18 am
- Forum: Personal Consumer Issues
- Topic: Car with tech bells and whistles that’s not a Tesla
- Replies: 63
- Views: 6698
Re: Car with tech bells and whistles that’s not a Tesla
Unless you custom order it. My son just picked up his '23 Subaru Impreza two weeks ago after placing his order back in mid-September. The only option from the base model he ordered was the available floor mat upgrade.
He wanted basic transportation, and that's exactly what he got.
- Ron
- Sat Nov 19, 2022 3:23 pm
- Forum: Personal Finance (Not Investing)
- Topic: Social Security account showing COLA a month early
- Replies: 52
- Views: 6271
- Sat Nov 19, 2022 9:34 am
- Forum: Personal Consumer Issues
- Topic: Are Kona coffee beans really worth $40/pound?
- Replies: 22
- Views: 2170
Re: Are Kona coffee beans really worth $40/pound?
Only if they are covered in chocolate !!!
- Ron
- Ron
- Fri Nov 18, 2022 5:40 pm
- Forum: Personal Finance (Not Investing)
- Topic: Social Security account showing COLA a month early
- Replies: 52
- Views: 6271
Re: Social Security account showing COLA a month early
If you go into your account and request the online Benefit Verification Letter, you will see that it shows two separate amounts. One for the period of December 2021 to November 2022 (payable in December of 2022) and your new rate that you will start "earning" December 1, 2022 payable in January 2023. If you just look at the main page "Benefits and Payments" it shows the new 2023 rate but you will not receive that until the January 2023 Wednesday date of your benefit. That's the way it has been in past years. I normally look for that info just after my November (October earn period) payment and I've learned to get the Benefit Verification Letter to get the entire picture. BTW, you will also see the new 2023 Part B rate of...
- Mon Nov 14, 2022 7:03 am
- Forum: Investing - Theory, News & General
- Topic: What purpose do annuities serve?
- Replies: 60
- Views: 5242
Re: What purpose do annuities serve?
Keep in mind that once you've annuitized (if it's a life annuity), that money won't be there for any heirs no matter if one kicks the bucket early or if one sets longevity records. This isn't WHOLLY true for income annuities, most of which are sold with a cash refund feature, a guaranteed payout, and/or some form of joint/contingent life arrangement. This is true. Our joint SPIA, purchased 15 years ago, has a guaranteed payout period based upon our then expected lifespan - both at age 87. If one passes before that date, the payments continue (at 100%) to the survivor. If both pass before age 87, payments continue (at 100%) to our estate on a monthly basis. If one/both live beyond the age of 87, payments continue to be paid, at 100% until b...
- Sun Nov 13, 2022 11:48 am
- Forum: Personal Consumer Issues
- Topic: Fastest way to get rid of old credit cards, drivers license, etc
- Replies: 94
- Views: 8447
Re: Fastest way to get rid of old credit cards, drivers license, etc
I wonder the same thing when the discussions come up about getting a free copy of TurboTax
- Ron
- Sat Nov 12, 2022 8:58 am
- Forum: Personal Consumer Issues
- Topic: Spare Change
- Replies: 56
- Views: 5007
Re: Spare Change
Take mine, in bulk, to my CU. They have a do-it-yourself coin counter that prints out a slip with the amount exchanged. Take it to a window and they will either credit your account or just give you the cash.
- Ron
- Ron
- Fri Nov 11, 2022 11:03 am
- Forum: Personal Finance (Not Investing)
- Topic: Worthwhile to purchase separate liability insurance for an e-bike?
- Replies: 57
- Views: 4397
Re: Worthwhile to purchase separate liability insurance for an e-bike?
Like what happened in NYC this past Saturday?
Even though it was due to a person doing maintenance on an ebike in his apartment (illegally), the question of what insurance would be liable for the situation.
- Ron
- Mon Nov 07, 2022 3:08 pm
- Forum: Personal Finance (Not Investing)
- Topic: dumb rmd question
- Replies: 25
- Views: 2577
Re: dumb rmd question
U are correct..
I've been of RMD age for years ...
- Ron
- Mon Nov 07, 2022 8:21 am
- Forum: Personal Consumer Issues
- Topic: How to incorporate rising sea levels into house purchase
- Replies: 62
- Views: 5160
Re: How to incorporate rising sea levels into house purchase
One of the reasons we made sure our "forever home" is on the top level of the mausoleum where we will be interred ...
- Sun Nov 06, 2022 10:43 am
- Forum: Personal Consumer Issues
- Topic: Help me select a new phone. Need larger screen android.
- Replies: 7
- Views: 556
Re: Help me select a new phone. Need larger screen android.
A bit expensive, but here you go:
https://www.samsung.com/global/galaxy/galaxy-z-fold4/
I've had the Fold3 for almost two years and it's been outstanding for me - an old codger that needs a larger screen. It's also good for viewing streaming apps.
- Ron
https://www.samsung.com/global/galaxy/galaxy-z-fold4/
I've had the Fold3 for almost two years and it's been outstanding for me - an old codger that needs a larger screen. It's also good for viewing streaming apps.
- Ron
- Thu Nov 03, 2022 5:59 pm
- Forum: Personal Consumer Issues
- Topic: Specific reasons *not* to switch to Android?
- Replies: 105
- Views: 8301
Re: Specific reasons *not* to switch to Android?
No, but you can use the Google Meet app on both android and Iphone to replicate Facetime. It is available on both the App Store and Play Store.
- Ron
- Wed Oct 26, 2022 8:41 am
- Forum: Personal Consumer Issues
- Topic: When is a good time to buy a car?
- Replies: 72
- Views: 9723
Re: When is a good time to buy a car?
I enjoy watching the various NCIS and FBI TV series and I've noticed that they have removed some/all the vehicle ID'S over time.
I would guess the various car/truck brands did not offer any vehicles or advertising perks to the respective series...
- Ron
I would guess the various car/truck brands did not offer any vehicles or advertising perks to the respective series...
- Ron
- Tue Oct 25, 2022 7:31 am
- Forum: Personal Consumer Issues
- Topic: When is a good time to buy a car?
- Replies: 72
- Views: 9723
Re: When is a good time to buy a car?
A good deal on a desirable car these days is MSRP with no other dealer markups. My son had his 2023 Subaru delivered last week. It was ordered from the factory just over two months ago and was delivered at MRSP without any dealer markup - probably since it was not sitting on the lot and subject to a lot of folks willing to pay extra for a car that could be delivered immediately. The dealer received their normal invoice vs MRSP profit and for them, it was good enough (high volume dealer). BTW, he wholesaled his trade so he was working with "clean" numbers on the deal and paid cash for the new Subie. OTOH, I had my '02 Mustang GT in for it's annual inspection/oil change earlier this year and I was looking at a '22 GT sitting on in ...
- Mon Oct 24, 2022 11:54 am
- Forum: Personal Investments
- Topic: [Benefit of taking Social Security early - does compounding matter?]
- Replies: 56
- Views: 6620
Re: What people miss about taking social security early to invest
I wonder what is the percentage of age 62 SS claimants that actually invest vs those that use the funds to cover current needs. My unfounded suspicions are the great majority of folks who take it at age 62 need it to cover expenses, not a source of extra income designed to be invested. - Ron If you're receiving SS so you don't have to withdraw as much from other sources, that is the same as having it invested, to me. I retired at age 59 and lived primarily on my investments until I claimed my SS at age 70, five years ago. The result is that I have a much higher current SS income than if I claimed it as soon as I could, along with reducing the amount of current RMD's since I primarily lived on my tax deferred IRA's during my early retiremen...
- Mon Oct 24, 2022 9:10 am
- Forum: Personal Investments
- Topic: [Benefit of taking Social Security early - does compounding matter?]
- Replies: 56
- Views: 6620
Re: What people miss about taking social security early to invest
I wonder what is the percentage of age 62 SS claimants that actually invest vs those that use the funds to cover current needs. My unfounded suspicions are the great majority of folks who take it at age 62 need it to cover expenses, not a source of extra income designed to be invested.
- Ron
- Ron
- Sun Oct 09, 2022 8:29 am
- Forum: Investing - Theory, News & General
- Topic: 100% Wellesley Income Fund
- Replies: 120
- Views: 26904
Re: 100% Wellesley Income Fund
My wife/me have 100% Wellesley in our respective Roth accounts for the future benefit of our adult disabled son after we're gone.
Roth IRA's were available to us 1998-2008 during our working years and we each contributed the max during that time. Neither of us had the option of a Roth 401k.
While it's not the best performing fund we hold, it certainly is good enough for our needs for a small portion of our total holdings. As the Swedes say, "Lagom är bäst", interpreted to mean ‘not too little, not too much, just right’.
Since I retired from a US based arm of a company owned by a Swedish firm, I was well indoctrinated in the term, and the theory of lagom during my many travels there.
- Ron
Roth IRA's were available to us 1998-2008 during our working years and we each contributed the max during that time. Neither of us had the option of a Roth 401k.
While it's not the best performing fund we hold, it certainly is good enough for our needs for a small portion of our total holdings. As the Swedes say, "Lagom är bäst", interpreted to mean ‘not too little, not too much, just right’.
Since I retired from a US based arm of a company owned by a Swedish firm, I was well indoctrinated in the term, and the theory of lagom during my many travels there.
- Ron
- Thu Oct 06, 2022 7:15 am
- Forum: Personal Consumer Issues
- Topic: Recurring whole house low water flow
- Replies: 16
- Views: 1532
Re: Recurring whole house low water flow
We had a problem with our water pressure years ago. Had the city check their line and found no problem. They were the ones that suggested we have our soft water conditioner checked. Found out that was the problem. A small piece of plastic from a solar salt bag fell off during a refill clogged the works ...
- Ron
- Ron
- Sun Oct 02, 2022 7:28 am
- Forum: Personal Finance (Not Investing)
- Topic: Paying for a new car purchase
- Replies: 12
- Views: 1870
Re: Paying for a new car purchase
FWIW, I paid cash for my car a few years ago by just writing a check from my FIDO IMA (Income Management account - currently replaced by their CMA offering) after putting the allowable maximum on my CC.
As the dealer told me, they did not need a wire nor certified check (we know where you live )...
- Ron
As the dealer told me, they did not need a wire nor certified check (we know where you live )...
- Ron
- Sat Oct 01, 2022 7:49 am
- Forum: Personal Consumer Issues
- Topic: Dollar bread
- Replies: 81
- Views: 7011
Re: Dollar bread
Wow, you dated me ... As I remember, they were on the back of cereal boxes and were good for at least one play on the "record machine"...JupiterJones wrote: ↑Wed Sep 28, 2022 4:04 pm It's the bread equivalent of cut-out records (for those who remember those)
They're still good.
- Ron
- Wed Sep 21, 2022 11:22 am
- Forum: Investing - Theory, News & General
- Topic: What was life like when interest rates were 13% ?
- Replies: 85
- Views: 9351
Re: What was life like when interest rates were 13% ?
In early 1979 I started a new job along with purchasing a new home. The interest on the 30-yr note/mortgage at that time was 10% with a 3% points prepayment to lower the effective rate. This was replacing a home we purchased four years earlier at the same rate. We were in that home for 15 years until we had our current home built at a 6.875% rate with another buydown of 3% points. As for the job? It's the one I retired from, some 28+ years later. I had a white collar job in a blue collar company; the vast majority of workers were union members. I remember in the early 80's the white collar folks received the same COLA bumps (every 2-3 months) as the folks that were working under a contract. If not, their salary would have surpassed ours qui...
- Mon Sep 05, 2022 12:30 pm
- Forum: Personal Investments
- Topic: Fixed Withdrawal Rate - 5 or 6%?
- Replies: 214
- Views: 18875
Re: Fixed Withdrawal Rate - 5 or 6%?
Color us fortunate. We both started our respective SS benefits at age 70, and we use the RMD table for our current withdrawal rate. RMD's in excess of our retirement expenses go to savings (yes, we're cash heavy - horrors!) for future bequest to our (disabled) son. No need for reinvestment risk at this time of our lives (mid 70's) with the RMD remainder distribution. Our remaining retirement investments are subject to that risk.
FWIW,
- Ron
FWIW,
- Ron
- Thu Sep 01, 2022 12:05 pm
- Forum: Personal Finance (Not Investing)
- Topic: Seller disclosure of a house on a flight path
- Replies: 91
- Views: 8840
Re: Seller disclosure of a house on a flight path
Nope. The only problem is if you start to get tire marks on your roof...AnnetteLouisan wrote: ↑Wed Aug 31, 2022 6:58 pm We’re on a flight path but rarely hear much due to constant sirens. Is it a health risk to be on a flight path due to the jet exhaust fumes?
- Ron
- Wed Aug 31, 2022 11:25 am
- Forum: Personal Consumer Issues
- Topic: Empty nesters who don't downsize - why?
- Replies: 78
- Views: 6122
Re: Empty nesters who don't downsize - why?
Don't need to, don't want to.
It's as simple as that, for us...
- Ron
It's as simple as that, for us...
- Ron