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Re: Investment Advice

Yes, my wife and I are in good shape. But what I meant in being in a position we shouldn't be in is having $250,000 in cash reserves that should be invested in something.
by Firewood42
Wed Oct 29, 2014 9:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 15
Views: 1206

Re: Investment Advice

Grt2bOutdoors, you are right, I do have a lot to be thankful for. Also married to a beautiful wife for over 50 years.

Now if I can just get this money invested properly. :)
by Firewood42
Mon Oct 27, 2014 5:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 15
Views: 1206

Re: Investment Advice

Real Estate is out at my age as an investment. I wish I would have got into rentals when I was younger. Some of my friends did really well but are now selling because they just don't want the trouble. I didn't pay any charge when I bought the Pimco Fund through Fidelity. Will check out the balanced ...
by Firewood42
Mon Oct 27, 2014 2:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 15
Views: 1206

Re: Investment Advice

Thank you very much for the advice. I have never invested in any mutual fund but the low cost no load funds from Fidelity. I have also looked into an annuity through Fidelity but would rather keep control of my money. I should say that the $15,000 that I would like to spend from our IRA is for being...
by Firewood42
Mon Oct 27, 2014 9:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 15
Views: 1206

Investment Advice

We have $350,000 in a Fidelity IRA. Our goal is to make 5 percent on this money as safely as possible and eventually leave the principal to our children. Our original plan was to invest this in CD's at this point in life and make 5 to 6 percent on it like my dad and grandpa did in their retirement. ...
by Firewood42
Mon Oct 27, 2014 7:49 am
 
Forum: Investing - Help with Personal Investments
Topic: Investment Advice
Replies: 15
Views: 1206

Re: Want income but preserve capital

Since this is a taxable IRA, I have to pay regular income tax on the approx. $10,000 minimum withdrawal. So I do want to keep the funds in an IRA no matter what I invest in. I pay very little income tax at a $10,000 withdrawal rate. Will be looking into some of the funds mentioned. Would also like t...
by Firewood42
Thu Oct 17, 2013 8:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Want income but preserve capital
Replies: 40
Views: 3230

Re: Want income but preserve capital

Thanks for the advice. I am going to have to make a decision pretty soon as it has been in cash too long. Ah for the good old days when my dad and grandpa enjoyed 6 per cent cd's and 30cent a gallon gasoline. Looks like we won't be able to travel as much as they did.
by Firewood42
Wed Oct 16, 2013 3:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Want income but preserve capital
Replies: 40
Views: 3230

Re: Want income but preserve capital

I have looked into annuities but the idea of giving my hard earned money for a monthly income doesn't appeal to me. I would really like to leave my children some money. We are a real close family and they have done everything right but educating 9 grandchildren is so expensive these days that they c...
by Firewood42
Wed Oct 16, 2013 7:02 am
 
Forum: Investing - Help with Personal Investments
Topic: Want income but preserve capital
Replies: 40
Views: 3230

Want income but preserve capital

I am 71 and my wife is 68. We have $300,000 in cash that we would like to get 5 percent income from with total safety. Our original plan was to use CD's but the interest rates are next to nothing. We own our own home, new vehicle, totally out of debt but would like to enjoy our retirement more with ...
by Firewood42
Wed Oct 16, 2013 6:34 am
 
Forum: Investing - Help with Personal Investments
Topic: Want income but preserve capital
Replies: 40
Views: 3230

Re: Are Short Term Bond Funds My Answer

Thanks for the advice. I guess if I wanted to change my allocations, I should have did it Thursday as Friday my FGMNX dropped 5 cents a share, the most I have ever seen it drop in one day.
by Firewood42
Sat May 18, 2013 9:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Are Short Term Bond Funds My Answer
Replies: 10
Views: 1440

Are Short Term Bond Funds My Answer

At age 71 and 67, my wife and I have been heavily invested in Fidelity's gnma fund for many years. We have also purchased the short term bond fund in smaller amounts and are keeping a signifigant amount in cash to hopefully invest in bonds or cd's at 5 or 6 percent interest some day. Our goal is ass...
by Firewood42
Thu May 16, 2013 11:17 am
 
Forum: Investing - Help with Personal Investments
Topic: Are Short Term Bond Funds My Answer
Replies: 10
Views: 1440

Re: For Windows 8, is a touchscreen laptop preferable?

My Vista Windows laptop died on me so I bought a new Windows 8 HP laptop. Actually I was forced to buy Windows 8 since that was the only system the Staples store offered and I needed it immediately. I absolutely hate it. In fact so much that I will switch to Apple when my old XP desktop crashes, sin...
by Firewood42
Wed Mar 06, 2013 8:23 pm
 
Forum: Personal Consumer Issues
Topic: For Windows 8, is a touchscreen laptop preferable?
Replies: 39
Views: 2130

Re: is window 8 good ??

Is Windows 8 any good. In a work NO. My vista laptop crashed on me and I needed a laptop immediately. All they offer now is Windows 8. What a piece of junk. It took me and hour to figure out how to turn it off. Better security, hardly. Almost immediately I got something called Babylon Tool bar on it...
by Firewood42
Tue Feb 26, 2013 12:16 pm
 
Forum: Personal Consumer Issues
Topic: is window 8 good ??
Replies: 49
Views: 3438

Re: Is it safe to cook/heat food in a tin can?

Back around the early 1960's my friends and I did a lot of backpacking and camping. Typical meal was a can of pork and beans. Punch a hole in it, lay it up next to the fire. Add some hotdogs or fish we caught and we had a hot meal. All of us are still healthy 50 years later but of course we didn't g...
by Firewood42
Sat Feb 09, 2013 1:17 pm
 
Forum: Personal Consumer Issues
Topic: Is it safe to cook/heat food in a tin can?
Replies: 29
Views: 2101

Re: Live in rural area, need internet provider

We live in a very rural area surrounded by high hills. Tried for years to find decent internet service. Tried Verizon wireless, inside antennas, nothing worked. Then like the answer to our prayers, our local phone company put in DSL in the little bitty town less then a mile from us. We signed up imm...
by Firewood42
Sat Feb 09, 2013 1:07 pm
 
Forum: Personal Consumer Issues
Topic: Live in rural area, need internet provider
Replies: 12
Views: 1344

Re: PenFed 1.8 3 yr cd

As I understand it the best part about a PenFed cd is if you are facing RMD, you can withdraw money for it with no penalty.
by Firewood42
Sat Feb 02, 2013 1:46 pm
 
Forum: Investing - Theory, News & General
Topic: PenFed 1.8 3 yr cd
Replies: 20
Views: 3308

Re: How Can I Tell If My Dentist is Good One?

I may be wrong but I have noticed when a new young dentist takes over a practice, I think they push treatment on you that is unnecessary. Probably because they are in debt with with loans and start up costs. I dropped two dentists that took over from my old dentists because of this.
by Firewood42
Wed Jan 30, 2013 12:19 pm
 
Forum: Personal Consumer Issues
Topic: How Can I Tell If My Dentist is Good One?
Replies: 133
Views: 10528

Re: How Can I Tell If My Dentist is Good One?

Brush your teeth 2x a day, floss, and use a fluoride rinse. Eliminate the chance of caries and you'll never need to find out. Now I just need to take my dentist's advice. :oops: Yes my wife does that and never has a cavity, nor does any of her immediate family. I on the other hand have spent a lot ...
by Firewood42
Wed Jan 30, 2013 12:09 pm
 
Forum: Personal Consumer Issues
Topic: How Can I Tell If My Dentist is Good One?
Replies: 133
Views: 10528

Re: Do I need a passport for Mexico

I have been going to Mexico for some serious dental work. I don't see any shortage of dentists. I am getting 13 crowns and a permanent bridge at a price of $3200 from a superb Mexican dentist that us "Winter Texans" have been going to for years. Of course if you are going to a poor area an...
by Firewood42
Wed Jan 30, 2013 11:56 am
 
Forum: Personal Consumer Issues
Topic: Do I need a passport for Mexico
Replies: 38
Views: 4656

Re: "Kick Me" sign on the back of my 401k bond fund

How would you like to be retired, subject to RMD, need all the income you can get from your IRA, so you are totally in bond and Gnma funds with a small amount in a CD. Then are faced with such low interest rates and the possibility of Bond funds crashing when rates do go up. For the first time in m...
by Firewood42
Sat Jan 26, 2013 2:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: "Kick Me" sign on the back of my 401k bond fund
Replies: 37
Views: 3936

Re: "Kick Me" sign on the back of my 401k bond fund

How would you like to be retired, subject to RMD, need all the income you can get from your IRA, so you are totally in bond and Gnma funds with a small amount in a CD. Then are faced with such low interest rates and the possibility of Bond funds crashing when rates do go up. For the first time in my...
by Firewood42
Sat Jan 26, 2013 12:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: "Kick Me" sign on the back of my 401k bond fund
Replies: 37
Views: 3936

Re: Mr. Market Doesn't Care What You Think!

Depressed markets are good if you are young and have lots of accumulation ahead of you. Not so good for a retiree with a nest egg that's not large relative to projected consumption. Yes, deff. Exactly, 5 percent cd's would have taken all the worry out of my retirement but now I am faced with Mr. Ma...
by Firewood42
Tue Jan 22, 2013 12:26 pm
 
Forum: Investing - Theory, News & General
Topic: Mr. Market Doesn't Care What You Think!
Replies: 16
Views: 1866

Re: If you're Retired, Please share how 2008 affected You.

I went from 80 per cent stock mutual funds in January of 2000 to 10 percent and invested the money in GNMA's, cd's and bond funds. I was 58 years old So when i retired in 2004, 2008 didn't affect me much. In fact I was enjoying 7 to 8 per cent returns from the time I sold my stock funds until just l...
by Firewood42
Fri Jan 04, 2013 10:26 am
 
Forum: Investing - Help with Personal Investments
Topic: If you're Retired, Please share how 2008 affected You.
Replies: 30
Views: 2489

Re: Frustrating US-Canada Money Problem [Cross-Border Purcha

littlebird wrote:
Firewood42 wrote: It turned out that the bank had hired a new girl


That's what you get for hiring minors. Had the bank hired a fully grown woman, I'm sure this wouldn't have happened.


Sorry I guess she was a woman. May still work there.
by Firewood42
Thu Dec 27, 2012 5:47 pm
 
Forum: Personal Consumer Issues
Topic: Frustrating US-Canada Money Problem [Cross-Border Purchases]
Replies: 22
Views: 1310

Re: Alaskan Trip

We may drive to Alaska again this summer. Already have another couple wanting to go with us. This time we will not drive from Ohio through Canada but will go to Montana and drive North through Glacier and some of the great Canadian National Parks. Heard you can play golf on one course on the route i...
by Firewood42
Thu Dec 27, 2012 1:05 pm
 
Forum: Personal Consumer Issues
Topic: Alaskan Trip
Replies: 49
Views: 7483

Re: Frustrating US-Canada Money Problem [Cross-Border Purcha

Years ago I had an account in a small U.S. town that was owned by a Canadian Company. They had owned this company for years and all the checks came from Canada. It was the largest employer is this small town. One day I was surprised to see we were way overdrawn on our checking account. It turned out...
by Firewood42
Thu Dec 27, 2012 12:45 pm
 
Forum: Personal Consumer Issues
Topic: Frustrating US-Canada Money Problem [Cross-Border Purchases]
Replies: 22
Views: 1310

Re: Where can I get the best immediate annuity?

I have been investigating immediate annuities with Fidelity since my IRA is with them. As I understand it, they will give my wife and I at ages 70 and 66, 5.66 percent back on a "life with cash refund annuity". There are no other costs. So if I give them $200,000, they will give us back $1...
by Firewood42
Wed Dec 26, 2012 10:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Where can I get the best immediate annuity?
Replies: 9
Views: 1636

Re: Results from Immediate Annuity Returns

Johm221122 wrote:I think SPIA are good for some people but remember 1250 a month will be a lot less,maybe a lot less if inflation gets high in 30 years
John


Having no experience with pensions, are other pensions indexed to inflation. Like post office employees, auto workers, etc?
by Firewood42
Tue Dec 18, 2012 11:25 am
 
Forum: Investing - Help with Personal Investments
Topic: Results from Immediate Annuity Returns
Replies: 25
Views: 1505

Re: Results from Immediate Annuity Returns

Also our children would get back whatever was left in the annuity if we were to die. Really? To straighten out the mental accounting, you may wish to contemplate what you are getting: 1. An immediate annuity with no residual value, plus 2. Term life insurance. Do you need life insurance? If you die...
by Firewood42
Tue Dec 18, 2012 9:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Results from Immediate Annuity Returns
Replies: 25
Views: 1505

Re: Results from Immediate Annuity Returns

Sorry, I thought I had mentioned that my wife is 67 and I am 70. Our children are 44 and 41 and pretty successful in their lives. But they have 8 children among them and that is going to take some money to raise them through college. The salesman also gave me a quote if the principal wasn't protecte...
by Firewood42
Mon Dec 17, 2012 2:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Results from Immediate Annuity Returns
Replies: 25
Views: 1505

Re: Results from Immediate Annuity Returns

I should add, our families have long life expectancies. My wife's parents were both 87 when they died. My dad died at 89 despite being tore up in WWII and my Grandpa and Great Grandpa were in their mid 90's and were married over 60 and 65 years. My wife and I are in excellent health, I take no drugs...
by Firewood42
Mon Dec 17, 2012 12:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Results from Immediate Annuity Returns
Replies: 25
Views: 1505

Re: Results from Immediate Annuity Returns

The company is MassMutual Financial Group, which the salesman said is second only to New York Life as the best companies in America.

Payments are not indexed to inflation and would continue the same amount until both of us die.
by Firewood42
Mon Dec 17, 2012 12:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Results from Immediate Annuity Returns
Replies: 25
Views: 1505

Results from Immediate Annuity Returns

I have called Fidelity's Annuity Sales to find out what it would cost for an immediate annuity for my wife and I. I went with Fidelity because my IRA is with them now. For $264,660 I could get and immediate annuity that would pay my wife and I $15000 per year for the rest of our lives. That would be...
by Firewood42
Mon Dec 17, 2012 11:46 am
 
Forum: Investing - Help with Personal Investments
Topic: Results from Immediate Annuity Returns
Replies: 25
Views: 1505

Tell Me About Immediate Annuities

I recently saw a posting on here about immediate annuities. The rate of 7.5 percent was mentioned not as an actual amount but to try and get income tax info about one in an IRA. This peaked my interest, is it possible to get returns close to this amount. My wife is 66 and I am 70, self employed all ...
by Firewood42
Sun Dec 16, 2012 9:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Tell Me About Immediate Annuities
Replies: 19
Views: 991

GasBuddy.com

Just discovered GasBuddy.com It looks like I can save a lot of money using this site, especially since I drive a lot across state and also interstate a couple of times a year. Also my truck has a 36 gallon fuel tank which means a 700 mile cruising range. Anybody else use this site and have any good ...
by Firewood42
Mon Dec 10, 2012 5:20 pm
 
Forum: Personal Consumer Issues
Topic: GasBuddy.com
Replies: 26
Views: 7270

Re: Medicare Drug Plan: Preferred Pharmacies

I have lived in Texas for 38 years and 140 miles from the Border. I used to buy drugs in Mexico, not any more. I do not TRUST the pharmacies to give you what you paid for. Most of my friends also gave up on buying drugs in Mexico. My Health is to important to me to take chances with drugs from Mexi...
by Firewood42
Thu Dec 06, 2012 11:42 am
 
Forum: Personal Consumer Issues
Topic: Medicare Drug Plan: Preferred Pharmacies
Replies: 7
Views: 676

Re: Medicare Drug Plan: Preferred Pharmacies

My wife and I just recently switched to Humana and can buy drugs at either Wallmart or mail order. It costs us 18.75 per month each, a huge savings over our former plans. We also have another way to get drugs. Where we stay in Texas for the winter, we can go over the border and buy prescriptions dru...
by Firewood42
Thu Dec 06, 2012 8:01 am
 
Forum: Personal Consumer Issues
Topic: Medicare Drug Plan: Preferred Pharmacies
Replies: 7
Views: 676

Re: Comparing Cost of Living Expenses - Part 1

Here in our rural Ohio area, we have great internet service at a reasonable price. One big savings we have in this area is Cable or Satellite TV. May be shocking to many of you but we have not had any TV in our house for 19 years. So we save quite a bit in cable or satellite charges. We don't miss i...
by Firewood42
Mon Dec 03, 2012 7:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Re: Comparing Cost of Living Expenses - Part 1
Replies: 47
Views: 2484

Re: Comparing Cost of Living Expenses - Part 1

One post stated that in HCOL areas you have more access to professional sports or high quality college sports. I beg to disagree again. Yes we do have to travel farther so you may say it costs us more money to attend these events. Yet in my little home town in rural Ohio, many of us attend regularly...
by Firewood42
Mon Dec 03, 2012 6:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Re: Comparing Cost of Living Expenses - Part 1
Replies: 47
Views: 2484

Re: Comparing Cost of Living Expenses - Part 1

Many successful people live in central parts of major cities, in areas with walkable streets, efficient public transportation, parks, museums, restaurants. A McMansion owner has only his 4,000 sq ft in his disposal; a city dweller has the entire city at his feet. He is not claustrophobic in his sma...
by Firewood42
Mon Dec 03, 2012 5:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Re: Comparing Cost of Living Expenses - Part 1
Replies: 47
Views: 2484

Re: High Salary & High COL vs Low Salary & Low COL

Potential hidden financial benefit of "high COL" places: Superior public schools often are most responsible for the "high COL" in many places. If you would send your kids to public schools in a high COL district, as opposed to private schools in a low COL district, that can make...
by Firewood42
Mon Dec 03, 2012 7:41 am
 
Forum: Personal Consumer Issues
Topic: High Salary & High COL vs Low Salary & Low COL
Replies: 80
Views: 5809

Re: What kind of car are you driving?

A 2012 F-150 XLT 4 door 4x4 with 6.5 foot bed and Ecoboost engine. Paid cash. Commuting mileage is 22 mpg, lifetime mileage including some towing, off road driving is 19.1. I use if for all the things country people need a truck. If we have snow I can't get out of my lane or down our gravel road wit...
by Firewood42
Sun Dec 02, 2012 9:20 am
 
Forum: Personal Consumer Issues
Topic: What kind of car are you driving?
Replies: 278
Views: 21629

Re: High Salary & High COL vs Low Salary & Low COL

When I think about how much a person's location can affect his or her salary and cost of living, it seems that the individuals, who live in a higher cost of living (COL) area and are compensated fairly for this variable , are at a clear advantage than those who live in a lower cost of living with t...
by Firewood42
Sun Dec 02, 2012 8:22 am
 
Forum: Personal Consumer Issues
Topic: High Salary & High COL vs Low Salary & Low COL
Replies: 80
Views: 5809

Re: For those who work PT [Part Time] in retirement

I am 70 now and my wife and I have been lucky enought to be able to work our service business for three months a year full time since we retired 5 years ago. In fact we are very much in demand. However, this next year we will retire nearly full time as the work requires long hours and accuracy and I...
by Firewood42
Mon Nov 26, 2012 5:02 pm
 
Forum: Personal Consumer Issues
Topic: For those who work PT [Part Time] in retirement
Replies: 6
Views: 1357

Re: Help With Retirement Planning.

Thank you very much for all the suggestions. You have given me some ideas that I hadn't thought of before. I will be looking into all this before making my decisions.
by Firewood42
Sat Nov 24, 2012 6:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help With Retirement Planning.
Replies: 16
Views: 784

Re: Help With Retirement Planning.

We own our home with 7 acres, and another 10 acres in a different area. These are our backup plans I am not interested in the stock market ... don't think we could survive a large pullback at our age[/size] So your theory is that the stock market is risky but a single piece of land is stable? Yes, ...
by Firewood42
Sat Nov 24, 2012 11:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Retirement Planning.
Replies: 16
Views: 784

Help With Retirement Planning.

I am 70 years old and my wife is 66. We are planning on full retirement next year. We have been working 3 months a year and then retirement the rest of the year. We have $ 500,000 in our normal IRA'S invested 75 percent in Fidelity GNMA's, 20 percent in cash and short term bonds and 5 percent in a P...
by Firewood42
Sat Nov 24, 2012 10:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Help With Retirement Planning.
Replies: 16
Views: 784

Re: Farming and Homesteading Thoughts/Advice?

Not if your farm sits above the Marcellus or Utica shales, it isn't. Yes I live in that area and wish I had more then 10 acres. I was raised on a farm but my father was a rural mail carrier also. So I learned how to raise hogs, chickens, and a huge garden that fed the family. I also belonged to 4H ...
by Firewood42
Wed Nov 21, 2012 2:06 pm
 
Forum: Personal Consumer Issues
Topic: Farming and Homesteading Thoughts/Advice?
Replies: 27
Views: 1608

Re: My thoughts on the Fiscal Cliff in a nutshell ... [Image

Those logarithmic return graphs are sooooo misleading. Especially when you cherry-pick the start time as the low following the 2000-2002 market wipeout. If you pick Jan 2000 instead, and then use real returns instead of unreal returns you see that $10K invested then has turned into about $8600 toda...
by Firewood42
Fri Nov 16, 2012 12:50 pm
 
Forum: Investing - Theory, News & General
Topic: My thoughts on the [current market] in a nutshell ...
Replies: 42
Views: 4002

Re: Capitol One cashback vs Fidelity Rewards Visa

I use the Fidelity 2 percent Amex and the PenFed 5% off on gasoline. Also have a Choice Privileges Visa with Barclay Bank which I use when they don't take Amex or when we are traveling for points and discounts on motels. Like to use the Pen Fed only for gasoline. I like to know how much I spend on g...
by Firewood42
Wed Nov 14, 2012 9:53 am
 
Forum: Personal Consumer Issues
Topic: Capitol One cashback vs Fidelity Rewards Visa
Replies: 14
Views: 1137
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