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Working and Wondering
Old 09-28-2009, 02:51 PM   #1
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Working and Wondering

Hi Everyone. I'm a longterm "lurker" and it's time that I introduced myself.

At my age (63) I'm probably more concerned about financial independence than early retirement as it's getting a little late to retire early. I took an "early out" package from my long term employer two years ago but almost immediately took a similar job with a smaller company.

I continue to wonder (or worry) about inflation and taxes and whether we will "have enough" longterm. Although I will get a small pension and SS, I will have to depend on savings to fund much of our retirement and so I'm particularly concerned about having a good withdrawal strategy.

My current AA is 50% equities, 20% bonds, 2% MM, and 28% CDs (5 year ladder). I just got back to parity after last year's crash so I'm feeling good about that.

I'm looking forward to being more actively involved in the forum but have already benefitted already.
"Don't you draw the queen of diamonds, boy, she'll beat you if she's able.
You know the queen of hearts is always your best bet" -- The Eagles, Desperado
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Old 09-28-2009, 02:54 PM   #2
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Does your pension have a COLA feature or is it fixed for life? Do you have the health insurance situation under control until Medicare kicks in at 65?
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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No COLA but health care is covered
Old 09-28-2009, 06:34 PM   #3
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No COLA but health care is covered

The pension is fixed but I am entitled to continue under my former employer's health care plan until I'm Medicare eligible so that's pretty well covered. I could convert the investments into a SPIA and meet our current income requirements but we would be exposed to inflation risk and there wouldn't be much to leave to the kids. On the other hand, a withdrawal rate of 4% would leave us short on income unless we dialed back our lifestyle. Also, we aren't covered for long term care, which is a concern.

I'm about 2/3 through Otar's book which I think may help me with a strategy but I realize there is much to learn.
"Don't you draw the queen of diamonds, boy, she'll beat you if she's able.
You know the queen of hearts is always your best bet" -- The Eagles, Desperado
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Old 09-28-2009, 07:11 PM   #4
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Welcome to the forums, Misanman. Do you have a target date?
“Would you like an adventure now, or would you like to have your tea first?” J.M. Barrie, Peter Pan
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Old 09-29-2009, 05:00 AM   #5
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Welcome aboard
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