Search results

You basically have $2.5 MM in current/lump sum assets to cover about $6,000/mo until SS kicks in in 2029. You then only need about $4,000/mo moving forward. The "accepted" rule of thumb is to limit withdrawals to 4%. Your $2.5 MM can have $100,000 per year taken out with a 60/40 asset...

To the OP, I don't know if you are interested or involved sexually with this person. If so, it may be the price of admission. :coolsmiley: If not, you should consider moving on. You can still talk with this person and do things with them. You do need to develop alternatives so you don't OD on...

Quite true. MY FIL tried to hire an attorney when he found out we had sold his house (without his permission which he would have never given). He was well over a year into his dementia diagnosis and was effectively broke except for his housing equity. He had degenerated to about a 5 minute...

In my experience, my infrequent posts tend to bring forth Porky. ;D I live in a high property tax state but have no state income tax. I've been bunching my deductions to itemize every other year. Fortunately, 2017 is a "bunching" year. Next year is a standard deduction year so I gain a...

Having recently qualified for Medicare, I get asked to remember 3 things for later in the conversation and name the months of the year backwards at doctor's appointments. When I was asked what day it was, I answered "did I show up at my appointment on time and on the correct day?"

If RMD is an issue, it means you've saved more than you probably need for a successful retirement. The IRS has the RMD calculations done so it's nearly impossible to successfully outlive your money. You might have to worry about it at 95 or so. If you kick the bucket sooner, you've just had...

I've seen it before. Is he paying his own bills successfully? If not, he's toast. As much as you don't want to accept it, it would be time to execute the POA which probably requires a visit to a qualified neurologist. He will probably need a CAT scan to show the plaque build up. Ask him...

I definitely have to say my vacation time made it less critical to retire. I was up to 28 paid days off per year. I also could take unpaid time off at my managers discretion.

I think most people would opt out if they didn't have to pay in. The millennials know they won't ever get the "value" back for their contributions. Most younger baby boomers won't either. Anything that is done to "save" SS will only make this worse. When the original taxation of SS benefits...

I didn't think I was making a "political" reference [mod edit] up, down or trying to incite others. The part of the comment [mod edit] was whether he is grabbing hold of the proverbial "third rail" on purpose.

[mod edit] Earlier comments that it really wouldn't save much money are probably true so why would this be anything other than symbolic. For those of us with significant pensions or big RMDs in our future, life will become more complicated and it could cost us some SS cash. Interestingly from...

I liked my job and after 6 weeks of retirement I wish I had retired sooner. If you're financially able, go if that's what you want.

Welcome back. I'm not too concerned about the 529 funding. Money is fungible so putting a bunch into the 529 just limits its use for other purposes. We all like to think our kids will go to college and get a rewarding career. Unfortunately, a lot happens to 5 and 8 year olds before they are...

The only reasons I can see to keep your money in a 401k are if you are planning to take advantage of the age 55 withdrawal or you are in the TSP. I'll also add that some very large companies have 401ks that resemble the TSP so these can be considered equivalent on a case by case basis...

I was doing close to 40 miles each way. I only lasted 3 years doing that before I pulled the plug. I fortunately didn't have to deal with office politics. I wasn't interested in getting promoted and didn't care if I got fired. I did my job and tried to be nice to everyone. We have very few...

Thanks for the heads up.

I agree you are good to go now. DW's income appears irrelevant at this point. What's wrong with looking at what it would take to maximize your business' selling price and start to organize things to make it look pristine to any buyers. Interest rates are low so the value of free cash flow is...

My DW stopped work (retired?) when she decided she couldn't keep going to work and do what she thought she needed to do with her parents' health issues. There wasn't any "plan" but she didn't make a high percentage of the family income. DW took additional convincing when it came to be my turn...

Houston is seeing a significant number of O&G job losses. Houston has been booming with the whole oil industry. I know that there have been a substantial number of layoffs but there's no sign of a real estate drop so far. O&G has always been cyclical and this is just another one of those...

My approach is to determine my portfolio value on Dec 31. I subtract my "escrow fund" for deferred SS income and heath insurance cost from this amount. I take 5% of this amount and move it to my bank. This is "cash" and excluded from my rebalancing calculations that are done to free up this...

I saw this. If true and the UK doesn't screw themselves into knots over this, this will be a major disruption in the world's oil market. This could keep European and east US oil prices down for decades. It could even put the nail into Russia's dominance in the European energy market. Between...

I'm in the process of being screwed with unintended tax consequences. I put money into a SERP (deferred compensation plan) where I thought I could change the payout dates. It turns out I can't without delaying the payments for 5 years. I'm going from the 25% marginal rate when I put it in to...

I was a highly successful investor in individual stocks until I actually researched my record. In the mid-90s, I started to here about indexing and scoffed at it. I knew I was a safely above average investor. Just to prove it to myself, I took my actually portfolio changes and compared it to...

+1 I also use the Dec 31 value for calculating spending and use the % of portfolio for spending. I don't reinvest dividends in my taxable accounts but these fall well short of meeting my spending needs. The amount I move to cash is something less than 5% of my portfolio since my spending is...

People do it differently. As you noted, some do it annually. Some also do it monthly or quarterly. Do whatever you feel comfortable with. Most people link their withdrawals with rebalancing but not everyone. You've asked a question with many answers. All of them are "right." I...