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Hi Everyone, Hope You Are All Doing Well - Help please - Your opinion?
04-29-2013, 04:09 PM
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#1
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Recycles dryer sheets
Join Date: Apr 2013
Location: ORL
Posts: 156
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Hi Everyone, Hope You Are All Doing Well - Help please - Your opinion?
I'll be 57 at end of this year and have about $1.3M (Cash or cash equivalent) $260k - 30 yr. USG Bonds in Pension (portable); $250k 401k (most after tax & portable) rest is cash. Calc. SS @ $1850 per month (from SS site) for 28 yrs (start @ 62) = total about $1.9M. No debt, no house (apt.) Bought a new Travel Trailer & adopted an older dog. Assumption: no increase in money; then have about $57k for 33 yrs. (= 90). I am frugal. Can I do it? Afraid to take the plunge...but job is killing me, literally
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04-29-2013, 04:21 PM
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#2
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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You should be fine unless inflation spikes. Is your high cash/cash equivalent position intentional?
Suggest you check our Quicken Lifetime Planner (a good, basic easy to use retirement planning tool that is part of Quicken Deluxe and higher) and FireCalc but off-the cuff I think you should be ok.
Have you considered just plunking the whole lot into Vanguard Wellesley? It's pretty conservative and IMO a lot better than cash in your circumstances.
What do you mean that 401k is "mostly after-tax"? Usually 401k is pre-tax but perhaps you have an unusual situation.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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04-29-2013, 04:27 PM
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#3
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Recycles dryer sheets
Join Date: Apr 2013
Location: ORL
Posts: 156
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Believe we are in deflationary environment and USD will be best in depression. Had the option to put money in 401k before or after taxes paid. Put it in after taxes paid (my contribution) would owe on matching and gain. Thanks, for ypu reply & questions.
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04-29-2013, 04:34 PM
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#4
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Full time employment: Posting here.
Join Date: Apr 2013
Posts: 834
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What does FireCalc say? I would think it would be near %100.
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The Constitution. It's not just a good idea...it's the law.
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04-29-2013, 04:38 PM
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#5
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Recycles dryer sheets
Join Date: Apr 2013
Location: ORL
Posts: 156
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Jack - yes, you are right it does. But taking that 'leap of faith'. Thanks.
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04-29-2013, 04:39 PM
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#6
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 36,266
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Quote:
Originally Posted by rjohnla
Believe we are in deflationary environment and USD will be best in depression. Had the option to put money in 401k before or after taxes paid. Put it in after taxes paid (my contribution) would owe on matching and gain. Thanks, for ypu reply & questions.
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You may want to check it out but I seem to recall that one can rollover after-tax 401k monies into a Roth IRA.
I had some after-tax 401k money but didn't know about the rollover possibility at the time so I just took the cash.
Fear is natural - many of us have gone through it - change is hard.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.
Retired Jan 2012 at age 56
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04-29-2013, 04:56 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
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What are your annual expenses ?
__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
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04-29-2013, 06:08 PM
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#8
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Recycles dryer sheets
Join Date: Apr 2013
Location: ORL
Posts: 156
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Not much and would be less if retired: Just Food, Ins., Utilities for Travel Trailer (set up to go off grid for weeks) gas, entertainment - could probably do it on $30k. Guess I need to move off the intro site and post elsewhere according to sticky...
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04-29-2013, 06:31 PM
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#9
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Quote:
Originally Posted by rjohnla
.......Bought a new Travel Trailer & adopted an older dog.........
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What kind of dog?
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04-29-2013, 06:39 PM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Feb 2013
Posts: 9,358
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Quote:
Originally Posted by rjohnla
Not much and would be less if retired: Just Food, Ins., Utilities for Travel Trailer (set up to go off grid for weeks) gas, entertainment - could probably do it on $30k. Guess I need to move off the intro site and post elsewhere according to sticky...
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Sounds great. I see a travel trailer with off grid potential in our future, too.
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04-29-2013, 06:53 PM
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#11
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Recycles dryer sheets
Join Date: Apr 2013
Location: ORL
Posts: 156
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1/2 Lab, 1/2 Shar Pei. Great shape for about 8 yrs. & weighs 80 pounds - dog trainer coming next week, but he's really a great dog. People don't want the old ones so much, he's home forever now.
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04-29-2013, 06:54 PM
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#12
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Recycles dryer sheets
Join Date: Apr 2013
Location: ORL
Posts: 156
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Check out KZ, great quality - family owned, lot of Amish employees & happy.
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04-29-2013, 10:18 PM
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#13
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Full time employment: Posting here.
Join Date: Jun 2006
Posts: 927
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Welcome to the forum. Your numbers look good. They would be lots better if instead of being so heavy in cash and bonds you had a balanced asset allocation. Inflation is pretty low recently but it is still eating away at your cash heavy portfolio. If you live for more than 25 more years or inflation goes higher it could be a problem for you.
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CW4, USA-(ret)
RN, BSN-(ret)
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04-30-2013, 05:46 AM
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#14
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Thinks s/he gets paid by the post
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
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Get over your fear and enjoy your older dog and your new travel trailer.
__________________
_______________________________________________
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
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04-30-2013, 06:45 AM
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#15
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Mar 2007
Posts: 14,328
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Quote:
Originally Posted by rjohnla
1/2 Lab, 1/2 Shar Pei. Great shape for about 8 yrs. & weighs 80 pounds - dog trainer coming next week, but he's really a great dog. People don't want the old ones so much, he's home forever now.
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OK, sounds like you are good to go, then.
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04-30-2013, 08:57 AM
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#16
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Dryer sheet wannabe
Join Date: Apr 2013
Posts: 16
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You have a good amount of assets and you are invested very conservatively. It seems like you are at risk if inflation runs up. I think it would be well worth it for you to get professional advice from a fee based financial planner. You have too much at stake to do it on your own
What do you plan to do about your health care cost? You are 8 year away from Medicare. You may be shocked at what your health care can cost over those 8 years
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04-30-2013, 11:13 AM
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#17
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Thinks s/he gets paid by the post
Join Date: Mar 2013
Location: Western US
Posts: 1,205
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Welcome - Charley and you should be good to go. Especially if your job is killing you.
Your ability to take the low road is a big +. No friction from me on the high cash position, the future is yet to be written. good luck
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