Recent content by MikeTN

Have you or anyone else looked at WFC/PRL. I am not experienced in assessing Preferreds but it seem to me that it is convertible, but only if Wells Fargo stock increases greatly from current level. Thus, the 6.4% return looks pretty safe to me

Comment that they go by the past is wrong, they do look at the current managers and fund family. I find their ratings useful, why not start looking at the gold and silver rated funds in the category that interests you. however, don't make the mistake of buying a fund just because it is Gold...

Annuities do have a role for many of us. I'm 81 and happy that I annuitized a portion of my "safe Money" with TIAA. I recommend you read the Morningstar paper, "The Retirement Plan Lifetime Income Strategies Assessment", published online in 2022. The obvious advantage is that you can't...

I agree that it does not make sense to buy an annuity that is not inflation adjusted at a younger age. However, some who have been comparing this proposal to. a 30 year bond ladder seem to be missing something: Op is in early 40s and talking of annuitizing in the next few years. Thus the bond...

I think it's a great idea to help the wife's sister. however with respect to the spendthrift kids I favor creating a revocable living trust. Any money that is not already in an IRA or 401K goes into the trust. The kids get the IRAs at death of you and your spouse, and they have 10 years to...

My Schwab consultant once notified me I had not named a beneficiary for one of my accounts. He helps with transfers in, and in setting up a trust account. But the main reason I value him is that my wife leaves the investment stuff to me. If I die before she does she knows she can contact him...

When my son was in college he drove a used but nice Toyota pickup. One of his classmates said, "That's a nice truck your father bought for you". He told me he was proud to reply that he ran a lawn mowing service in High school and he bought it with his own earnings. I think your son would...

I think the discussion about what one can expect to earn in the stock market is misplaced. Nearly all of us have part of our savings invested in relatively safe investments outside the stock market. So, if you use some of "safe" your money to defer SS to 70, and you want to use the calculator...

I, like some others above, worked at a not-for-profit with a TIAA retirement program. I annualized about 30% of my accumulated funds and am glad I did. It is largely a bond substitute. My purchase of an annuity requires fewer funds to be removed from the mostly equity portfolio in order to...

Asset-based lending is growing fast. Most financial firms and banks will set up a line of credit. The rates are not usually as low as quoted above. However, it can be very useful if you are making a big ticket purchase or changing houses. Tom Anderson led this program at Merril Lynch and...

I agree, but note one further consideration: perception of one's own longevity. A person with a known health condition that would likely shorten life (diabetes, cancer, heart condition etc. is unlikely to buy a life annuity. So those of use who do buy them will, on average, likely live a bit...

I have about 30% of my retirement funds in annuities. This, together with Social Security gives me a stable lifetime income that covers my basic expenses. A bond ladder would beat this if I didn't live into my 90s, but I'm in good health, and may live to 100, as did two of my male family...

Long-time TIAA participant here I have been in TIAA since 1976. It was the only choice during most of my employment at a university and a non-profit. TIAA's stock funds are pretty good (including CREF stock fund which you linked to) but it is hard to buy them without an expense charge of at...

I'm 77, purchased LTC 18 years ago. Was paying less than $100mo. for a $120 day benefit with has no time limit. It just went up 20% but I think I'll keep it because of my age. I do not regret the purchase. It provides some peace of mind for my wife. However, with today's low interest rates...

Don't forget the expense to maintain 2 homes. We have more money than we need to maintain our lifestyle in retirement, and really enjoy our 2nd home on Beaver Island, MI. My wife does not have LTC insurance but if it comes to that the sale of the cottage will help pay for her care. However...