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Re: Introduce yourself here!
Old 01-25-2005, 10:39 AM   #261
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Re: Introduce yourself here!

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Also, aren't there several posters with a million plus on this forum
Yes, but if you calculate the value of your pensions, you're probably in the ballpark. You can go here and plug in the monthly pension amount and get a rough idea of what it would cost to buy that monthly income stream:

http://www.immediateannuities.com/

Add that to your $500,000 and see what you really have. Vanguard has a similar calculator. Many of the millionaires on this board would probably trade with you.
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Re: Introduce yourself here!
Old 01-25-2005, 10:45 AM   #262
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Re: Introduce yourself here!

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Sure. *The general consensus here seems to be to buy index funds, and leave it at that. *While that is a good generic strategy, it leaves a lot to be desired -- for example, what if the U.S. dollar keeps going down? *What if there is heavy inflation (or deflation)? *What if the stock market crashes?

Keeping all your money in U.S. stocks is similar to keeping all your money in your employer's stock.
Index funds and US stocks are not synonymous. *I'm sure that I tried to disabuse you of this notion before. *Hmmm, in fact I did try - http://early-retirement.org/cgi-bin/...910884;start=4 *There are plenty of non-US index mutual funds and ETFs (exchange traded funds). *If you need help finding these then let me know and I can post some resources for you.

We've had numerous discussions here on assset allocation and particularly on the amount of non-US (or more generally non-home market) content. *I will refer you to the article from Sharpe that suggests that the "ideal" portfolio is one that is capitalization weighted across national markets. *http://www.stanford.edu/~wfsharpe/ar...on/prince0.htm

Sure there might be some here who believe that holding just the S&P500 is all that you need but there are very few of them. *Probably far fewer than in the general investing public. *Probably even fewer than amongst financial planners who if they put any international investments into your portfolio it's only just a little "dash" of 10% or so. *That "dash" is probably only there in the financial planner's clients' portfolios to make them seem different enough from just the S&P500 to allow them to try and justify their fees.

Now, the FIRECalc tool just uses the S&P500 but a part of that is because the data for other markets or asset classes (i.e. REITs) is spottier, of too short a duration, and/or what exists is expensive to get. *The tool gives some indications and it is useful but almost nobody (save for yourself) seems to think that it is giving total portfolio construction advice.

Quote:
It may be patriotic/loyal, but isn't the safest option (and can be very unsafe, depending on what happens).
The big problem with portfolio construction is that we are almost for sure going to construct a sub-optimal portfolio compared to the reality that unfolds in front of us. *If we knew perfectly what was going to happen and which asset class was going to perform the best over the next n years then we would be stupid to invest in anything but that asset class. *We, of course, don't know which asset class that will be (though one troll on this site does claim to know) so we allocate our assets around likely candidates using some method. *What method do you use for choosing the likely candidates is a contentious issue at times - on this board and elsewhere.
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Re: Introduce yourself here!
Old 01-25-2005, 06:25 PM   #263
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Re: Introduce yourself here!

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Many of the millionaires on this board would probably trade with you.
I have 2 dear friends in their mid 50's who just retired from public teaching. I suspect their combined pensions total $100k plus cheap health insurance. They don't have to be concerned about managing their investments, or to be concerned about a future lawsuit that could wipe out their nest egg or not be worried about a divorce splitting the nest egg. I can go on and on,

so,

where do I stand in line to exchange my $1mm+ for that no worry monthly pension check. :-/

MJ
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Re: Introduce yourself here!
Old 01-25-2005, 07:21 PM   #264
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Re: Introduce yourself here!

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We, of course, don't know which asset class that will be (though one troll on this site does claim to know) ......
Please kind sir, could you identify this benighted individual so that we might know to be wary of his or her dangerous ideas?

Mikey
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Re: Introduce yourself here!
Old 01-26-2005, 04:44 AM   #265
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Re: Introduce yourself here!

Well - heh,heh - I always used to know which asset class would beat Mr Market - until Mr Market proved me wrong a 'few' times. Then ala POGO - I looked in the mirror and decided to 'avoid' myself and retired from knowing.

Male and biological - can't totally quell the quest for value - 15% 'putz' money in individual stocks.
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Re: Introduce yourself here!
Old 01-26-2005, 05:21 AM   #266
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Re: Introduce yourself here!

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There are plenty of non-US index mutual funds and ETFs (exchange traded funds). *If you need help finding these then let me know and I can post some resources for you.
I'm not the one looking for them. I'm the one that knows about them, and is suggesting that many people here could use a fee-only financial advisor, because they don't know about them or don't know they are needed.

Quote:
We've had numerous discussions here on assset allocation and particularly on the amount of non-US (or more generally non-home market) content.
Perhaps, but if so, I've missed them. Remember, if it appears in a thread with a subject of "Look at this!" or "Here's the real truth" or "What do people do during the summer?" or something else like that, I and many others will miss it. I just don't have the time to see what surprise appears in the "Look at this!" thread, or to see where the "What do people do during the summer?" thread has gone, after it has moved to something completely different.

Quote:
I will refer you to ...
Again, it's not me that needs your help. It's many of the other people here that need it. And in a way that works for them; many people here see an "asset allocation" thread and think that it is a complex theoretical investing topic, not knowing it applies to them.
-Scott
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Re: Introduce yourself here!
Old 01-26-2005, 07:14 AM   #267
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Re: Introduce yourself here!

MJ said: "where do I stand in line to exchange my $1mm+ for that no worry monthly pension check."

I love those monthly checks. But It took me 43 years to get them so most of you have the one thing I can't replace. Time. If you retired early you are ahead.

Bob Smith said: "Add that to your $500,000 and see what you really have. Vanguard has a similar calculator. Many of the millionaires on this board would probably trade with you."

I did go to that annuity estimator. Hmmmm. I am a millionaire using their methods. Who'd have thunk it?
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Re: Introduce yourself here!
Old 01-26-2005, 11:41 PM   #268
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Re: Introduce yourself here!

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Please kind sir, could you identify this benighted individual so that we might know to be wary of his or her dangerous ideas?
Hmmm, I've sworn to never again let the name be spoken from my lips nor typed by my hands.

"if thou hast no name to be known by, let us call thee devil."
Othello. Act ii. Sc. 3
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Re: Introduce yourself here!
Old 01-31-2005, 10:04 AM   #269
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Re: Introduce yourself here!

Hello Everyone,

I have been lurking here for a while and the great information I found here convinced me that we could retire early. I am 57 and retired January 1, 2005… my wife is 54 and plans to retire at age 57 or sooner. She now carries the health insurance for both of us. I am a veteran so I could use the VA for health needs… I presently use the VA for meds. We have no debt or mortgage. I have run FIRECALC and everything looks like a go.

We live in Wisconsin and would like to spend about 3 months during the winter in Florida or Tucson, AZ after my wife retires.

I like to take long road trips on my Goldwing motorcycle whenever I can. I should be able to do more trips now that work doesn’t interfere.

Thanks for the GREAT site,

Gonzo
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Re: Introduce yourself here!
Old 02-07-2005, 08:29 PM   #270
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Re: Introduce yourself here!

Hi all! I stumbled upon this great web site quite by accident, and I'm so happy I did! I am 30 years old, my wife is 29. Retiring early is our dream and our goal. We have about 60k saved so far, and just this year upped our 401(k) contributions to the max, so with company matching we'll be putting over 30k a year into our retirement. We have refinanced and are in a 20 year mortgage on a house we love. We feel like we are set if we wanted to retire at 55 ( I get a pension, too), but we dream of retiring ten years earlier than that. Any suggestions? Thanks again!

Oh, and how do I start a new topic? I only saw a reply button....and to think I fix computers for a living....
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Re: Introduce yourself here!
Old 02-08-2005, 03:50 AM   #271
 
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Re: Introduce yourself here!

Go to the home page. Select a category. The "new topic" button is at the upper right.

JG
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Re: Introduce yourself here!
Old 02-09-2005, 05:51 AM   #272
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Re: Introduce yourself here!

I've lurked and posted a few times already.

I'm 50 and have been retired for 11 yrs. Hubby is 53 and is retiring in May. We both have state pensions which will cover our living expenses and then some. Our IRAs/457s/stocks and bonds are ear-marked for long-term care and extensive travel. (if need be)

We plan on doing some traveling while we're young and healthy and then probably build a new home out in the country (we're semi-country now) 5-10 yrs down the road.

Hubby may work part-time if he chooses, but not for awhile. I'm quite looking forward to his retirement so we can spend time hiking, snowshoeing, cutting firewood, canoeing, walking, traveling, and visiting family.

We live in Wisconsin and absolutely love it here. No plans on heading south in winter at this time in our lives. That doesn't mean we won't visit...just don't want to live anywhere but here at the present.
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Re: Introduce yourself here!
Old 02-09-2005, 05:55 AM   #273
 
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Re: Introduce yourself here!

Retired 11 years already! That's impressive. Welcome.

What part of Wisconsin?

JG
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Re: Introduce yourself here!
Old 02-09-2005, 07:55 AM   #274
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Re: Introduce yourself here!

Congrats on retiring that young! My wife is from Wisconsin, has tons of family up there still (the Wassau(sp?) area). It's beutiful up there, and there must be something in the water, because talk about hearty stock! She has two great grandmothers still alive, one 96 and one turns 100 this summer! Her grandparents still hunt and maintain their own 10 acre spread, they are just amazing!
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Re: Introduce yourself here!
Old 02-12-2005, 08:06 PM   #275
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Re: Introduce yourself here!

Hello everyone. Have spent the last 3 hours looking over some of the topics and the associated postings. I believe you have something of value here.

My wife and I have begun to think in earnest about early retirement. I look forward to learning from the forum, and perhaps contributing in some small way.

Regards to all.

Easy
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Re: Introduce yourself here!
Old 02-12-2005, 08:06 PM   #276
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Re: Introduce yourself here!

Hello everyone. Have spent the last 3 hours looking over some of the topics and the associated postings. I believe you have something of value here.

My wife and I have begun to think in earnest about early retirement. I look forward to learning from the forum, and perhaps contributing in some small way.

Regards to all.

Easy
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Re: Introduce yourself here!
Old 02-13-2005, 03:55 AM   #277
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Re: Introduce yourself here!

Wecome a-board. I found this board only a year ago and I've used several of the gems mined here to craft my ER crown (still not done yet) . Good luck with yours....and glad to didn't post "Hi I'm easy "

BUM
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Re: Introduce yourself here!
Old 02-13-2005, 09:00 AM   #278
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Re: Introduce yourself here!

We're pretty much centrally located in Wisconsin. And we have family spread throughout the state that we visit often. Of course being centrally located means most all the holiday meals are at our house. But, then again, we like it that way!

Hubby and I both come from very good stock. Our parents all made it to their mid-80s...only one is deceased. (suddenly at age 85)
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Hello everyone!
Old 02-23-2005, 09:41 AM   #279
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Hello everyone!

Hello!

I am 54 year old and getting ready to retire next year. I have worked for many years with international business, traveling abroad and giving a lot of my time, energy and commitment to help somebody else make big profits in their business.

Sounds familiar? I guess so!

I just would like to share some thoughts with you, since there should be probably some folks here younger than me, and not willing to make the same mistakes I did. And after all you don’t have to – there is a way out of this old paradigm 40 work trap.

Now after doing a lot of research on the web about early retirement, I found some astonishing facts about life and retirement.

1) The traditional approach to retirement planning is fatally flawed. The old work, save and invest for 40 years approach has never worked well for the masses. Now, some experts are predicting that many of us will have to work well into our seventies before we will be able to retire.

2) The reason men and women struggle for 40 years to prepare for retirement is no one showed us that we could retire in less than half that time simply by correcting a few mistakes.

3) The final value of our lives will not be measured by the price of our homes, or the things we can accumulate...it will be measured by how we use our time, money and God-given talents to help other people as we make our journey through life.

4) There is a “Faster Retirement Formula” that corrects the mistakes that prevent early retirement. This wonderful formula can help you to retire debt-free in years, instead of decades.

As a matter of fact we need to get rid of our old programming, including all those beliefs that we have found not working anymore. One of the most important beliefs is exactly this very notion or old work idea of making people struggle for 40 years, saving and investing for their retirement, when in fact this time frame and formula is basically flawed.

“Hopes and dreams are being unnecessarily destroyed for millions of people around the world. Why? Because NOT ONE of us were ever taught in school how to effectively manage our money, or our time!

At best, this has robbed us of 10 to 20 extra years of financial independence - at worst it has resulted in poor financial health for millions, which has caused snowballing debt, bankruptcies, business failures, divorces in record numbers and it has destroyed the retirement dreams of millions.”

- Kelly L. Reese, President and Founder of the Financial Freedom Society, Inc.

The bottom line folks is virtually no one gives serious consideration to the immense power that they possess when they wisely manage their time and their money at the same time.

For a full insight on Financial Freedom an Early Retirement advice, please go to the following URL and listen to free the online 'Financial Freedom Seminar'... http://www.FinancialFreedomSeminar.com/60640

I hope I could have contributed somehow to this forum.

Let me close this contact with a wise quote from Robert Bolton:

"A belief is not merely an idea that the mind possesses; it is an idea that possesses the mind."

Good luck!

Tulio



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Re: Introduce yourself here!
Old 02-23-2005, 12:13 PM   #280
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Re: Introduce yourself here!

Greetings one and all!

As with a number of other postings in this column, I've been "lurking around" for quite some time. I'm pushing 58 and plan to retire in two years motivated in part by what I've been reading here.

I could technically retire now (but for the desire to stay in this jurisdiction until my youngest child graduates from a state university here and my wife's preference to work for a few more years). In truth though, I sort of "semi-retired" myself a year ago when I left a high-stress consulting firm and took a half-time job as a foundation administrator, retaining as well an adjunct faculty position at a local university and a corporate board position that I've had for several years.

Neither my wife nor I have a pension to look forward to, but together we've amassed enough for a comfortable retirement and the board position should continue for a few more years.

We're thinking about relocating to and purchasing a home in one of the 55+ "active adult" communities, probably in Texas although Nevada is not out of the question (referring specifically to Del Webb's Sun City Texas and Sun City Anthem respectively although we are open to other possibilities as well).

We're going to spend a few days at each location this summer to help us decide if one of those communities really makes sense, but I wonder if there are folks out there who have experience and are willing to share it? I'd appreciate the input.

Thanks.

Playaman

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