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Old 04-06-2013, 08:05 AM   #41
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What would bother me about having all that cash laying around is a fear that my financial intelligence will diminish with age, leading me to squander my remaining funds or be swindled. Annuities can protect against that, but some of them have such high fees.
That's the number 1 argument for me buying a SPIA one day. I should easily be able to live off of SS and interest/dividends, but my aging pea-brain might lead me down the wrong path.
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Old 04-06-2013, 08:08 AM   #42
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That's the number 1 argument for me buying a SPIA one day. I should easily be able to live off of SS and interest/dividends, but my aging pea-brain might lead me down the wrong path.
You might be able to accomplish the same thing by setting up a conservative automatic monthly withdrawal and then forgetting your password.
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Old 04-06-2013, 09:39 AM   #43
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I remember walking into a bank a few decades ago and seeing all these blue hairs standing in line for CDs paying 10 %. So, yes, there would be scenarios where I would be 100% cash.
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Old 04-06-2013, 11:41 AM   #44
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You might be able to accomplish the same thing by setting up a conservative automatic monthly withdrawal and then forgetting your password.
I'm already forgetting passwords. Right now I have the sense to have all my passwords written down and stored in a fire proof(supposedly) file box. I am going to be in trouble when I forget where I put the list of passwords or file box .
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Old 04-06-2013, 04:21 PM   #45
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All small amounts, but enough for the next 10-15 years after which we'd be well into our 90's.
CD's, Small untouched 6% Annuity from 1984 , IBonds (limits in the early years were $30K/person.)
A few old paper stocks. So yeah... in cash.

We never think about money, except as a hobby for us to see where we get the most for $$$. DW and I fight for bragging rights.

We didn't plan it that way, but we don't do very much to support the Government in the way of income taxes.
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Old 04-06-2013, 04:41 PM   #46
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I'm already forgetting passwords. Right now I have the sense to have all my passwords written down and stored in a fire proof(supposedly) file box. I am going to be in trouble when I forget where I put the list of passwords or file box .
Google announced at the beginning of this month it has created a new access program in lieu of passwords by identifying your body odor. Sites that contain more sensitive information such as your banking and brokerage accounts , require you not to shower to gain access.
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Old 04-06-2013, 05:23 PM   #47
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I have way too much parked in cash now. And I watch the real value decrease every month. To be all in cash is too much risk. Too much in ANYTHING is risky. If/when inflation really takes off...never mind, it has already depending on what things you buy. I watched my dad put everything he had in CDs. I wonder what he would do today with rates so low.

My 91yo Mother-in-law complains about having no interest income. I ask her about taking some risk to get a little more income. Nope! Not taking any risk. It makes me wonder if I'll be as risk averse if I make it to 91. I better get my daughter trained to handle it. I'll tell her if she does a good job, she'll inherit more.
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Old 04-06-2013, 05:45 PM   #48
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2 opposing views of the Fed's zero interest rate policy.
No, Ben Bernanke Doesn
"James Surowiecki of The New Yorker, argues that this criticism is wrong, or at least misguided. First off, Surowiecki argues, most Americans aren’t living off the interest from their savings. In fact only 7% of all financial assets in the U.S. are held in interest-bearing assets. Even senior citizens, the group of Americans that Bernanke is purportedly hurting, only receive 10% of their income from interest. The truth is, says Surowiecki, people who are living mostly from savings and interest from savings tend to be a small and elite group. More Americans are in debt than are savers, and low interest rates help those in debt."
Retirees Must Stand Up and Fight the Federal Reserve
"It's easy to argue that for the good of the entire country, retirees should bear the brunt of the burden. After all, they do tend to have more savings than younger Americans, having had a whole career to create their retirement nest eggs. But retirees are far less wealthy than younger Americans in one key asset: the value of their human capital. Younger Americans can look forward to years or even decades of future earnings from wages and salaries."
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Old 04-07-2013, 01:47 AM   #49
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No, not even in my nineties. Maybe 80% cash at that age.
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