Most retiree will never draw down their portfolio?

[NW-Bound]

I am in complete agreement on the kids. Mine are 25 and 26. If this continues until they are 29 and 30, I definitely won't have to worry about too much money!

Ugh, I might have been misunderstood.

I do not spend money on my kids anymore. I manage to find ways to spend money on ourselves to make up for lack of tuition.

 

[NW-Bound]

Moules frites!

I don't know what you think about this as you also cook, but the moules are easy to do at home. The frites take a bit more work.

 

[Mulligan]

Ah, the joy of stock collection, even though they are now just some symbols and no longer come with a paper certificate.

I do not have earned income anymore, and to buy something I must first sell something else. Stock buying is no longer a single decision, but two; sell first then buy. So, it is tougher and slows my trading down quite a bit.

Those nasty little HSA and Roth accounts create all sorts of tax free mischief for me. Unfortunately some of it spilled over into my regular accounts.. Gonna have to sharpen my pencil tax time for those nasty little short term cap gains. That had been the nice thing about being a preferred stock trader. On a spike you can flip out of one utility preferred and just buy one from a similar quality ute, no harm and increase the kitty doing it. But its grinding to a halt quickly. And now I am facing same problem as you. They all have been bid up. Afraid to sell for fear I cant get back in without paying even more.
I kind of miss those old stock certificates....


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[NW-Bound]

I kind of miss those old stock certificates....

Do ya?

I have a couple of stock certificates somewhere in my file cabinet of the private companies that I exchanged my labor for. The companies are long defunct, but as they never went public, that makes them rarer and possibly worth more?

Some day, I will frame them and use them as conversation pieces to tell people what a fool I was.

 

[jim584672]

Stock certificates should still be available if the issue wasn't issued as book entry only originally. It is just expensive and a pain to get them.

 

[Mulligan]

Do ya?

I have a couple of stock certificates somewhere in my file cabinet of the private companies that I exchanged my labor for. The companies are long defunct, but as they never went public, that makes them rarer and possibly worth more?

Some day, I will frame them and use them as conversation pieces to tell people what a fool I was.

The process behind all of it? Heck No! I just meant being able to physically see and touch them, that part only....A few had some nice detailed print work. But definitely I prefer the "street name" online ownership convenience.


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[RobbieB]

I have a worthless stock cert, Transamerica Duval.

I'm gonna use it to light up a cigar!

 

[MRG]

Stock certificates should still be available if the issue wasn't issued as book entry only originally. It is just expensive and a pain to get them.

I thought they were being phased out. My knowledge is dated to about Y2K. I was employed by a stock transfer agent back then. Foolishly a
I didn't deny having knowledge of certificate printing. I used to get calls on why some developers code didn't work in production that I knew nothing about. I was always promised that crap(certificate printing) was going away. My phone eventually quit ringing so I assume that was true.

Of course it could have been they got rid of the id10ts that tried to alter perfection and no one else was foolish enough to attemt to.

 

[Mulligan]

I have a worthless stock cert, Transamerica Duval.

I'm gonna use it to light up a cigar!

I used to have one too. Crystal Oil Company.. Dont know if its down in an old box or pitched years ago.


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[RobbieB]

Oh they all look so sweet eh? All with nice engraved printing like currency on stiff parchment.

Poof, up in smoke -

 

[jim584672]

I thought they were being phased out. My knowledge is dated to about Y2K. I was employed by a stock transfer agent back then. Foolishly a
I didn't deny having knowledge of certificate printing. I used to get calls on why some developers code didn't work in production that I knew nothing about. I was always promised that crap(certificate printing) was going away. My phone eventually quit ringing so I assume that was true.

Of course it could have been they got rid of the id10ts that tried to alter perfection and no one else was foolish enough to attemt to.

Wall Street has been trying to get rid of paper certs for years. The problem is state laws need to be changed for it to happen fully.

 

[NW-Bound]

The process behind all of it? Heck No! I just meant being able to physically see and touch them, that part only....A few had some nice detailed print work...

That's what I meant. At least you still have some evidence you once owned something.

Nowadays, what you do have? With paperless accounts, you only can download a pdf statement showing you put that much money into a sucker that once was going to be the next Microsoft, or Google, or whatever. Then, you have to print it out on your own printer. Not too artistic, nor romantic.

We used to exchange paper money for paper stock certificates that turned worthless. Now, we exchange a number on a checking account for another number on a brokerage account. Then, eventually the brokerage deleted that number. Nothing is real anymore. Heck, we could be all in a matrix.

 

[Mulligan]

That's what I meant. At least you still have some evidence you once owned something.

Nowadays, what you do have? With paperless accounts, you only can download a pdf statement showing you put that much money into a sucker that once was going to be the next Microsoft, or Google, or whatever. Then, you have to print it out on your own printer. Not too artistic, nor romantic.

We used to exchange paper money for paper stock certificates that turned worthless. Now, we exchange a number on a checking account for another number on a brokerage account. Then, eventually the brokerage deleted that number. Nothing is real anymore. Heck, we could be all in a matrix.

The first time I ever bought a stock online, I certainly felt those thoughts, and worse. I just knew I was going to get screwed out of my dividends.


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[Mulligan]

Wall Street has been trying to get rid of paper certs for years. The problem is state laws need to be changed for it to happen fully.

I thought I had heard you could still get them. Of course I am past that point now where I would need them. But I do need to print my quarterly statements to prove I do own something....Though I suppose that really isn't proof anyways either.


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[Hermit]

Oh they all look so sweet eh? All with nice engraved printing like currency on stiff parchment.

Poof, up in smoke -

The paper might be a little heavy to use as rolling paper?

 

[laurence]

The paper might be a little heavy to use as rolling paper?

Don't we all vape now?

 

[audreyh1]

I don't know what you think about this as you also cook, but the moules are easy to do at home. The frites take a bit more work.

Moules frites is the national dish of Belgium. We were lucky enough to visit Belgium at the end of September where they were serving the new season mussels from Zealand. Fabulous!

I don't like cleaning mussels - I think that is far too much work.

Here Costco sells the wonderful Penn Cove mussels from Whidbey Island Washington. Which, IMO, are the best you can get in the US. But I still can't get past the cleaning hassle.

 

[NW-Bound]

Moules frites is the national dish of Belgium...

... and they have so many different wonderful beers to go with it.

I do not think it is that hard to clean the Costco mussels. Time for me to make the dish again.

By the way, walking around a dining quarter in Brussels where people eat outdoors, I observed that paella was a very popular dish there.

 

[38Chevy454]

Another way to look at it is that money represents options. What can you do with money?

"They say money isn't everything, but look how many things it is" -- Anon.

The moment you spend it, you have just that one good, but all the other options are lost. That is why people like to keep money.

It's also why I keep posting that quote by Mignon McLaughlin. When she said that "Money is much more exciting than anything it buys", I think she meant that money represents all the options one can think of. It can be a car, a boat, a plane, a home. Once you spend it to buy a boat, the possibility of it turning into a plane is gone.

If you do not spend money, you can think of all the things money can be, and that can be enough for some people to be happy.

Or my mother's saying "money is like manure, you have to spread it around to do some good". Which for her was shopping and buying way too much stuff. Good thing my father had a nice pension so that eased the reduction in retirement savings. She did a pretty good job of drawing down the 403b though. Both my mother and father are gone now, and I do not subscribe to mom's spread money around theory much.

 

[RobbieB]

I like your Ma -

In other words, "a bag of crap is just a bag of crap until you use it to make things grow"

Wonderful woman -

 

[NW-Bound]

Or my mother's saying "money is like manure, you have to spread it around to do some good". Which for her was shopping and buying way too much stuff...

What's good for the merchants are not good for you.

 

[RobbieB]

I got a dozen oysters and a pound of spot prawns here that say you're wrong -

 

[NW-Bound]

OK, I forgot to exclude consumables.

 

[Boss2014]

The paper might be a little heavy to use as rolling paper?

Don't we all vape now?

Is he talking about tobacco ?

 

[Danmar]

You have so much more than I do, and if you spend your stash down to 1/3 or possibly even much less, you still have more than I do now. But can you see yourself doing that?

Not sure. Since I live off my dividends, spending down principal will result in less divs which would require more spend downs to maintain my spending level. I am a little worried that a principal spend down might set me on a road to further spend downs that I can't easily control. Also, DW is quite a bit younger than I am so I should make sure she has enough once I'm gone. I am probably being too conservative on this but as time passes by I am hoping for strong markets to make this decision easier. Really talking about extravagant purchases here as well as gifts to DD, so not really critical at this point.