Recent content by wolfbay

We are going to a counselor in a few days. I'm just think that a third party telling us how much we can spend safely and setting up a budget are part of a solution.

After 35 years of marriage I'm sad to admit my wife and I are having marital problems.One issue has become money.I do the planning and after 8 yrs of retirement I think I'm doing at least an adequate job as our portfolio manager.At this point I don't want to be the one who determines how much a...

We just opened an account and they did a credit check. Is there any catch to the 5yr CD paying 3%? Even though rates are low it's still double the local bank rate. Sounds almost to good to be true.

Thanks for the information.Am I correct in saying the advantages of an older husband delaying SS till 70 are still there even if the younger spouse has RR retirement?

I am 62 and dw is 8 yrs younger. I decided to wait till 70 for SS . My wife will get RR retirement and not SS.The program was started before SS but i think the benefits are similar.Anyone familiar with the program?I was assuming the situation would be the same as her having SS but I'm not sure.

I'm considering taking SS at 62 but frankly I don't understand the tax consequences. Neither of us work at all and we are not yet drawing from our SEP IRA for living expenses. We have been converting about 60000 from SEP to a Roth each year and staying in the 15 % bracket. I am going to run it...

I guess my post made no sense without this quote.

I'm 61 also and retired. I thought we were being fairly conservative living on 60000 yr with 2.4 M portfolio but compared to you we look down right irresponsible. I'm hoping you are being more conservative than is really necessary to maintain your level of spending. Maybe you want to leave more...

Our society has unlimited needs and wants but our financial situation unfortunately is unsustainable.One way or another our standard of living is going to decline at least for a significant period of time. We'll all have to sacrifice but coming up with a compromise people can accept IMHO will be...

My figure was incorrect. In movie IOUSA David Walker stated that taxes would have to double but this was in 2007 and the situation is much worse now. What ever the exact figure is I maintain it won't happen. Every American should watch this movie.We may be in denial as a nation.

There is a danger of intergenerational conflict in this situation. Some Boomers have been responsible,saved andLBYM but many have not and for them SS will be critical for survival in old age. I've read somewhere that for SS and Medicare to continue in it's present form young workers would need...

The most recent one I can think of was on the "financial sense " web site. Also when I do the math it seems that at the very least some kind of means testing will happen. Federal debt about 15 trillion,Private and corporate about 30 trillion, large state debt with huge unfunded pension...

I keep seeing references to the inevitability of means testing SS. Supposedly not if but when.Of course no one knows for sure what shape it would take but what is the most likely scenario? Would cash,gold or other tangibles outside the banking system be exempt? Is it likely that people already...

I believe that the market did not recover from the 1929 low until 1954. The Japanese market is no where near returning to it's 1989 high. Things could be a lot worse.

I know most here don't agree with his analysis but can someone tell me what he considers less risky asset classes? He even considers CD s and treasuries risky. Other than cash under the mattress what is he recommending ?