Search found 59 matches

by jubal
Thu Oct 13, 2022 10:43 pm
Forum: Personal Investments
Topic: Ways To Stay The Course?
Replies: 69
Views: 8710

Re: Ways To Stay The Course?

It's a lot easier when you're in the accumulation phase and have strong human capital. True. And much harder when you are retired and/or approaching retirement. That's the boat I'm in. I retired from the USPS in August 2021 with 500k in my TSP. Now it's down to about $386k and I've only been taking about $2500 per month out for monthly expenses. I need to increase it because between that amount and the approx $1550 pension I get, we have been barely treading water, and at the new amount I'm planning, the remainder will last about 11 years. I'm 63, and my financial planner told me to keep from taking SS as long as possible up until full retirement age, which at this rate I will be able to continue to follow without running out before filing...
by jubal
Sun Jun 19, 2022 11:04 pm
Forum: Investing - Theory, News & General
Topic: Do you agree that the 110 or 120 rebalancing strategy is outmoded?
Replies: 66
Views: 6549

Re: Do you agree that the 110 or 120 rebalancing strategy is outmoded?

rkhusky wrote: Sun Jun 19, 2022 6:54 am

And one doesn't need a falling equity path in retirement. A constant 20/80, 30/70 or 40/60 asset allocation is fine.
With the second number being stocks, I'm assuming?
by jubal
Sun Jun 19, 2022 10:59 pm
Forum: Investing - Theory, News & General
Topic: Do you agree that the 110 or 120 rebalancing strategy is outmoded?
Replies: 66
Views: 6549

Re: Do you agree that the 110 or 120 rebalancing strategy is outmoded?

Hey, thanks all of you for your well thought out comments on the topic. I appreciate it.
by jubal
Sat Jun 18, 2022 6:30 pm
Forum: Investing - Theory, News & General
Topic: Do you agree that the 110 or 120 rebalancing strategy is outmoded?
Replies: 66
Views: 6549

Do you agree that the 110 or 120 rebalancing strategy is outmoded?

As a concept for retirement investing I mean...I'd always heard that you should subtract your age from 110 or if okay with more risk, 120, and then invest the difference in stocks, rebalancing that each year as you approach retirement. I brought that up on the TSP Facebook page this morning and a guy said that that was the old way, and waaaay too conservative. I'm just asking what you all think about having a plan like that and sticking to it throughout your career.
by jubal
Mon May 24, 2021 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

I really have no way to get a few months wages into an emergency fund at this point. One thing you could consider would be to get a home equity line of credit set up on your house that you could draw on if you need to until your pension gets straightened out. I have one with a credit union and there was no fee to set it up or any sort of annual fee, the only thing I pay is the interest and that is only around 3%. If I close it out within three years I would need to pay back some loan origination costs like the appraisal but you can leave it open with no balance for three years as long as you are not going to move. This is actually a real handy thing for me since I use it to manage my income to keep my income low so that I get an affordable...
by jubal
Mon May 24, 2021 6:48 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Yes, it can take awhile to get the final pension amount. The preliminary amount showed up in my bank account that first month it was due though. If your whole federal career has been with USPS and you haven’t had any breaks in service, your preliminary will likely ge very close to your final. But you do want to have a few months of expenses in cash to tide you over. Keep the contact information for whichever retirement specialist ypundeal with before you leave. I had to get back in touch with mine when there was an excessive delay in getting my benefit finalized, and she got things moving. Thanks, delamer. I really have no way to get a few months wages into an emergency fund at this point. My retirement date is August 26th. I'm thinking of...
by jubal
Sun May 23, 2021 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Hi jubai, please take this in the spirit of gentle ribbing that is intended. :) but seriously you have a COLA-index pension and are worried about inflation? Spare a thought for us poor souls who don't even have a pension much less a COLA-indexed one... cheers, grok Thanks! Okay, I get the ribbing :D , but I have little experience in the actualities, and until I actually see my retirement income flowing (I just talked to a retired carrier yesterday and she said it took the USPS OPM six months to get just the pension correct--they usually start out with a low estimate of your final take), well, I will be a bit nervous. And the TSP won't process anything until they have confirmed that I am actually retired via documentation sent them by OPM. ...
by jubal
Sun May 23, 2021 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

How much SS? Maybe I just need more coffee, but I don't see it anywhere above. So my SS statement says that if I retire at 70, I will be getting $3233 per month. Is that the same though, if I retire at 62, but don't claim it until 70? I'm not sure how that works. If you have 35 years of earnings covered by Social Security at age 62, then the amount for age 70 on your statement is going to be very close: https://www.ssa.gov/pubs/EN-05-10070.pdf That’s because your benefit is based on your highest 35 years of earnings. If you have less than 35 years at 62 and stop working then, there will be some zeroes in the calculation which will reduce your benefit. I have 38 years, just with the USPS and a few years prior to those ones at lower paying j...
by jubal
Sun May 23, 2021 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

OP, some overall thoughts: 1. Expenses. One needs to know this in detail. One should know what they currently/historically spend in each budget category. High earners on this site get away with not looking at the details because they will have such large non-discretionary spending amounts that they can easily adjust the budget for things up/down as needed. But for more modest earners, you should carefully know what your spending in each category so that you can make a good guestimate on if those expenses are likely to change significantly (up/down) in retirement. An example is healthcare expenses, many people's health care premiums change when they retire if there employer doesn't subsidize it anymore. Another is travel which changes as do...
by jubal
Sun May 23, 2021 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

PartIrish wrote: Sun May 23, 2021 4:24 pm
jubal wrote: Sun May 23, 2021 9:36 am
22twain wrote: Sat May 22, 2021 7:05 am How much SS? Maybe I just need more coffee, but I don't see it anywhere above.
So my SS statement says that if I retire at 70, I will be getting $3233 per month. Is that the same though, if I retire at 62, but don't claim it until 70? I'm not sure how that works.
Jubal, On your Social Security online account page, you can now adjust your SS estimate by putting in the amount you expect to earn going forward. Once you put in "0," you will see your FRA benefit and your age 70 benefit adjust accordingly.
Ah, okay. Thanks. I didn't see that on the page before, but I will go back and look better.
by jubal
Sun May 23, 2021 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Golf maniac wrote: Sat May 22, 2021 10:10 am

+1. I have been retired from a federal job for over 5 years now. You really need to look at your budget and define essential expenses and discretionary spending. My pension covers my essential expenses and right now TSP and other retirement savings covers my discretionary expenses which I control. I am delaying SS to 70 to maximize my wife’s survivor benefit and by then I should need only a minimal amount from TSP or other retirement savings when SS kicks in. Understanding your expenses is the key.
Good advice, thanks.
by jubal
Sun May 23, 2021 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

22twain wrote: Sat May 22, 2021 7:05 am How much SS? Maybe I just need more coffee, but I don't see it anywhere above.
So my SS statement says that if I retire at 70, I will be getting $3233 per month. Is that the same though, if I retire at 62, but don't claim it until 70? I'm not sure how that works.
by jubal
Sat May 22, 2021 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

I-Know-Nothing wrote: Sat May 22, 2021 6:51 am
What will your SS benefit be at age 70?
I will post later. I'm on my way to work.
by jubal
Sat May 22, 2021 7:52 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

22twain wrote: Sat May 22, 2021 7:05 am How much SS? Maybe I just need more coffee, but I don't see it anywhere above.
I will need to dig that one up. I'm thinking mine was around $2700, but not positive on that.
by jubal
Sat May 22, 2021 6:47 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

You need to quantify what "golden" means. Post your anticipated income (and the extent they are indexed to inflation) and expenses after retirement for a start. For such an important decision you need to dig deeper to satisfy for yourself whether or not you can retire. Yes, inflation should always be a concern to the extent that your income streams will not be adjusted adequately for it. Social security is currently indexed to CPI-W, for example. https://www.ssa.gov/policy/docs/ssb/v67n3/v67n3p73.html#:~:text=Old%2DAge%2C%20Survivors%2C%20and,purchasing%20power%20implied%20by%20inflation. And CPI-W is under attack. Projected income: First, $2000-$2200 monthly from FERS pension (out of this would come taxes and health insurance so...
by jubal
Sat May 22, 2021 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Inflation ahead? Maybe? Do what is wise and put off retirement until - when? Until there is no inflation? Until you are more “golden” than before? This is a personal choice for you based on your present situation and fears of the future and its impact on you in retirement when you have left behind any accumulation you could have had. Maybe there is no inflation, or it is tolerable. Maybe there is no inflation for 5 years and then there is. When you might already be retired. Who is to know. And of course, you mention “really high inflation”. Which is that? Seems like you are morphing into extremes here. Maybe we can all agree on inflation, but if you are pushing a thought of really high inflation, you move your goalposts. And then you can m...
by jubal
Sat May 22, 2021 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

I'm not sure what "a rising tide of inflation" is. Is it a month of 4% inflation? Is it 10 years of 8% inflation? Nobody knows. If your pension is COLA adjusted, then the next thing to do would be to optimize your inflation-protected social security claiming strategy. That likely means delaying your benefits until 70. Check out: https://opensocialsecurity.com/ You can decide if all of that adds up to more years of working or not. You haven't provided enough data for anyone here to help. If you are very worried and/or your budget is tight, perhaps more years would be wise Thanks. I'm not sure what other data I could provide, but would be happy to provide it. I'm not that worried. I'm thinking concerned is more the word, and just b...
by jubal
Sat May 22, 2021 6:34 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Fat Tails wrote: Sat May 22, 2021 12:42 am See above posts for the FERS inflation adjustment. You will lose 1% each year in purchasing power for the CPI basket of goods.

I wouldn’t put off retirement to hedge against possible inflation as long as you are sure you have a good handle on your expenses to verify that you are indeed “golden”.

You may want to take both Medicare part B AND your Federal Employees Health Benefit insurance given your wife’s situation. There are lots of threads on this in the forum.

Congrats :beer
Thank you for the advice. I will definitely be looking into Medicare part B as we both approach 65 (she's only a few months younger than me).
by jubal
Sat May 22, 2021 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

I wouldn't worry about potential inflation much if your FERS has a COLA, since SS does too. That sounds like most of your income base throughout retirement. However if it were me, in addition to hearing it from a fiduciary I would also spend ample time running the numbers myself. Just because they are a fiduciary doesn't mean they will always make the right decisions for you - you know yourself better than anyone else. So run the numbers, be conservative, and if it still looks "golden" then kick back and enjoy! If you're not comfortable with doing a lot of number crunching/projections yourself, at least getting a 2nd or 3rd opinion. Find an hourly-only advice-only RIA. It is a small price to pay for peace of mind on such a moment...
by jubal
Sat May 22, 2021 6:17 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Delaying starting to take SS benefits until age 70 is important to consider, especially since your wife doesn't have her own SS benefits. Actually, that's important even if she did, unless her benefits were expected to be higher than yours. There is serious $$ benefit for couples if the higher earner waits to file until age 70. (If each of them hit the max SS benefit, then this doesn't matter.) That's because in a two-earner couple with unequal SS benefits, the lower earner (even if that's zero) can get up to half of the higher earner's SS benefits (amount at full retirement age) and then the survivor will get the full amount of the higher earner's SS benefit for life. That amount would be even if the lower earner's lifetime income was zer...
by jubal
Sat May 22, 2021 6:10 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

How much of your budgeted expenses will your pension cover? I think a lot of us here can live on $60,000 a year ($5000 a month) with some much less and some much more. What is your health care coverage going to be for both of you? Is your wife still covered after you go on Medicare? With inflation comes better CD and bond rates - that's the upside. I will get about 2000-2200 as the pension portion. And taxes and insurance will be taken out of that. As a postal employee I got the best possible rate on insurance and it will go up a bit as I will be getting the Federal employees rate which is higher than that negotiated with the USPS. I can continue that insurance plan for the rest of my life. So I'm estimating I will only see about $1000 a m...
by jubal
Fri May 21, 2021 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Re: Retirement soon, need some thoughts

Thanks for your comments. You've actually made me feel a little less nervous, believe it or not. :)
by jubal
Fri May 21, 2021 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Retirement soon, need some thoughts
Replies: 49
Views: 7123

Retirement soon, need some thoughts

Hi there. I'm approaching 62 in July, and am planning on retiring near the end of August. I work for the USPS. Despite my wife's ill health (she wasn't able to work long enough to qualify for her own Social Security, for example), I have managed to save nearly $500k in the TSP. I visited with a fiduciary last year and he said that I was "golden" as far as being able to live off my retirement income, which will include SS, pension, and TSP withdrawals. He said that I should wait to start Social Security until I reach full retirement age, and withdraw enough from my TSP each month to meet my budgeted living expenses when added to my pension amount. All that sounds good to me. My question revolves around what appears to be a rising t...
by jubal
Mon Jul 13, 2020 5:14 pm
Forum: Personal Investments
Topic: Postal Retirement advice needed
Replies: 4
Views: 767

Re: Postal Retirement advice needed

There are (at least) two ways to look at it: 1) You didn't sell when the market dropped, so you are unlikely to sell in the future if there is a similar or larger drop, and thus your current asset allocation is appropriate. 2) You didn't sell when the market dropped, but it was so worrying that if your investments were to drop by that much again you would sell, and thus you should adjust your asset allocation accordingly. Neither of the above is "better" and only you can know which is "correct" for you. Yeah, there's no chance I would sell if it dropped that much again. However, with the current conditions in the economic and social world, I do worry about a drop of that much or more that remains long-term. Of course th...
by jubal
Mon Jul 13, 2020 5:12 pm
Forum: Personal Investments
Topic: Postal Retirement advice needed
Replies: 4
Views: 767

Re: Postal Retirement advice needed

Outer Marker wrote: Sun Jul 12, 2020 7:06 pm Stay the course. 50/50 is a pretty conservative allocation, and the G fund is as secure as you can get in terms of fixed income. If you push equities lower, you run inflation risk of running out of money. What is your split between C and S? You can dial back risk further by increasing the allocation to larger stocks.
I currently have 35 percent going into C and 20 percent into S.
by jubal
Sun Jul 12, 2020 5:00 pm
Forum: Personal Investments
Topic: Postal Retirement advice needed
Replies: 4
Views: 767

Postal Retirement advice needed

I guess what I'm trying to figure out is whether or not I should move the bulk of my TSP into the G fund in light of what happened earlier this year. I'm right now split between G fund and the two domestic stock funds (C and S) with 46 percent in G, and the balance split between the C and S. With Covid-19 and all the uncertainty and unemployment etc., now that my account has made it up near to where it was back in March, should I act to protect it by moving most of it into G? Other facts you may need to know. I've been pretty much the sole wage earner though married. My wife chose early on to be a stay-at-home mom as the kids were growing up, then went to work, but ended up getting an auto-immune disorder that's keeping her from working. Sh...
by jubal
Sat Jul 12, 2014 8:18 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Re: Devaluation of the dollar scaring me more and more

Tycoon wrote: Has this person made an enormous amount of money from past prognostications? If not, why are you listening?
Actually, I'd trust him less if that was his motive.
by jubal
Sat Jul 12, 2014 8:16 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Re: Devaluation of the dollar scaring me more and more

columbia wrote:The ad for chemtrail toxin pills is also a tipoff about the expected mindset of the readers.
Well, that's just stupid. And those aren't the ones I've been seeing, I just did a quick google search to find some examples of what I'm talking about. However there are good reasons to have a little bit of food stored and emergency preparedness supplies. They both can come in handy in the event of natural disasters, such as earthquakes, hurricanes and the like. And food can be good to have on hand in the event of prolonged loss of job etc.
by jubal
Sat Jul 12, 2014 7:55 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Re: Devaluation of the dollar scaring me more and more

[quote="pointyhead" Is there anything I can do about it? Almost always the answer is No and No so I forget about it. And that is my advise to you. Forget about it and enjoy your life. Worry about things that you can take action on...are you eating well? Do you spend quality time with friends and loved ones? Getting enough exercise? Do you smoke? Drink too much? Preventive health maintenance---I mean diabetes, heart disease, lung cancer are really scary!!![/quote]

Thanks, pointyhead. That's good advice.
by jubal
Sat Jul 12, 2014 7:54 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Re: Devaluation of the dollar scaring me more and more

Wow, chicken or what? Scared of ghosts? Not normally...but I have a friend who is extremely intelligent and knowledgeable about economics, who believes that what's happening with world money supplies is going to spell the doom of the U.S. His arguments seem logical and I value his opinions. And yet a part of me is hoping he's wrong. That's why I came here...because I value many of the opinions here too. And, since I just turned 55, I'm a little bit worried for the future. Yes, it has never happened before, but to the best of my knowledge our national debt has never been so high. There weren't a lot of people who were predicting the Great Depression either, yet it came. I think there is cause for concern, not necessarily because of stuff I ...
by jubal
Sat Jul 12, 2014 7:09 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Re: Devaluation of the dollar scaring me more and more

Call_Me_Op wrote:Just goes to show you can find anything you want on the internet. Go searching for prognostications of gloom and doom, and Google will gladly serve up a few hundred thousand.
True, but that doesn't mean some of them can't be true. The problem is with the total mismanagement of our economic system (through our government) gloom and doom doesn't seem so far-fetched. And it's just making me a bit nervous.
by jubal
Sat Jul 12, 2014 7:05 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Re: Devaluation of the dollar scaring me more and more

larryswedroe wrote:Jubal
And why are you scared by some forecast when the evidence shows there are no good forecasters, and people have been predicting this for years?
Larry
I don't know...I've just seen a lot of stuff about Russian China getting trying to collapse the dollar. Articles like this one http://theeconomiccollapseblog.com/arch ... etrodollar, but this is just one among many. Here's another: http://www.washingtonsblog.com/2014/03/ ... e-u-s.html
by jubal
Sat Jul 12, 2014 6:49 am
Forum: Investing - Theory, News & General
Topic: Devaluation of the dollar scaring me more and more
Replies: 22
Views: 2639

Devaluation of the dollar scaring me more and more

I keep seeing things like this: http://www.alt-market.com/articles/2216-the-almighty-dollar-is-in-peril-as-the-global-de-dollarization-trend-accelerates , articles which are saying things about the dollar's imminent collapse. This is frightening, because to me it seems like if such a thing truly happens, there is no safe place for our investments, and actually, if some prognosticators are correct, society itself is threatened in such a scenario. I don't understand all the ins and outs of what a possible dollar collapse means, but I'm looking for some kind of optimism, though with a healthy dose of realism as well. Please tell me that huge numbers of people won't be out of work, looting (because the government cash cow has vanished), murderi...
by jubal
Tue May 08, 2012 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Re: Advice wanted on how to spend/save

Thanks, to both of you for those last two comments. Actually, I guess a long time ago, I started out not really understanding it and then my idea of what I thought the benefit was became fact---even though it wasn't. So I really appreciate the enlightenment. One other thing I found out is that accumulated sick leave will actually increase the basic annuity even more. I was off for months a couple of years ago due to shoulder surgery, but I'm back up to over 1600 hours of sick leave, and should see a nice improvement on that annuity if I continue being relatively unsick and injury free for the rest of my career. Once again, thanks. I also like the suggestion of staying in the tent trailer while the sub-flooring is being done. That might just...
by jubal
Sun May 06, 2012 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Re: Advice wanted on how to spend/save

Jubal, I sure hope you have misunderstood the USPS retirement plan. If you were CSRS (the old Civil Service Plan) and switched to FERS, you do still have a pension. It's just not as much as the CSRS pension. When you switched to FERS, you traded the larger pension for the government's match on your TSP contributions (the CSRS people don't get that match). We're using the word "pension", but the government calls it "basic annuity". Is it possible you are just confused with the terminology? Correct, but that's only if you choose to set it up as an annuity at retirement. I could, for example, take it out as a lump sum and roll it over into an IRA should I so desire. At least, that's the way I understand it. I was saying it...
by jubal
Sun May 06, 2012 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Re: Advice wanted on how to spend/save

Jubal, I sure hope you have misunderstood the USPS retirement plan. If you were CSRS (the old Civil Service Plan) and switched to FERS, you do still have a pension. It's just not as much as the CSRS pension. When you switched to FERS, you traded the larger pension for the government's match on your TSP contributions (the CSRS people don't get that match). We're using the word "pension", but the government calls it "basic annuity". Is it possible you are just confused with the terminology? Correct, but that's only if you choose to set it up as an annuity at retirement. I could, for example, take it out as a lump sum and roll it over into an IRA should I so desire. At least, that's the way I understand it. I was saying it...
by jubal
Sun May 06, 2012 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Re: Advice wanted on how to spend/save

ann_l wrote: I understand your fears about the USPS. How long have you worked for the federal government? Do you get a pension?
It will be 29 years this August. As far as a pension goes, no...but I have the TSP as I mentioned in my original post, which is the retirement plan for the USPS that replaced the Civil Service Pension Plan of years ago. Actually, I had the Civil Service Plan when I started, but converted over to the FERS (Federal Employees Retirement System) when it became available, thinking it would be better in the long run.
by jubal
Sat May 05, 2012 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Re: Advice wanted on how to spend/save

Mrs.Feeley wrote: Is a tent-trailer something your wife will be able to enjoy after her disease progresses further?
Actually, it's her idea, but I imagine there will come a day when she'll no longer want to do the camping thing. She basically said, "I'll go all kinds of places with you as long as we don't have to sleep in a tent." The last time we went, we did the tent thing and she was purely miserable.
by jubal
Sat May 05, 2012 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Re: Advice wanted on how to spend/save

retiredjg wrote:Is it possible that $10k - $20k in modifications to your current house could prevent the need for a different house? Stair-gliders, walk in tubs, etc. can go a long way to making a home more livable for a person with reduced abilities. It is possible that modifications could be made over several years, thus spreading out the cost.
What's a "stair-glider"? I'm all ears on doing this, if it's feasible.
by jubal
Sat May 05, 2012 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Advice wanted on how to spend/save
Replies: 23
Views: 2615

Advice wanted on how to spend/save

At nearly 53, I have a lot of concerns for the future. I've got a basic plan in place for contributing to retirement, but that's not all I have to figure out. Let me fill you in on a few details first. Right now, I have approximately 175k in my retirement funds (about 172k in the TSP, and about 3K in a Roth IRA). Currently I'm contributing 6% to the TSP (which is matched 100 percent on the first 3% and at 50 percent for the next 2%), and about 4% more going into the Roth. That's my status with retirement contributions. Secondly, I just paid off the house early, which is nice, but left us about $1100 in short-term savings which we need to build back up. Our only debt right now is on a home equity line of credit and is about $5400 currently, ...
by jubal
Fri Apr 06, 2012 6:33 am
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

I've always believed that food stamps and other entitlements are there as a short-term solution and that people should be working to get off of them. In fact, this quote by Benjamin Franklin pretty much summarizes the way I feel: “I am for doing good to the poor, but...I think the best way of doing good to the poor, is not making them easy in poverty, but leading or driving them out of it. I observed...that the more public provisions were made for the poor, the less they provided for themselves, and of course became poorer. And, on the contrary, the less was done for them, the more they did for themselves, and became richer.” That being said, I believe we as individuals are the ones who should take care of others, and that it's not the gove...
by jubal
Thu Apr 05, 2012 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

Sometimes our adult children make unwise choices. I do think that bringing 4 children into the world before one is financially stable is an unwise choice. And, in this day and age, I don't buy the idea of "accidents". There are so many "ounces of prevention" that could be taken. It is all well and good to shop wisely, use coupons, and buy on sale. But I see nothing to praise about "not taking food stamps". The food stamp program is created for people to help them give their children better quality food on fewer dollars. Perhaps if your daughter used food stamps, she could free up some dollars to help with the housing situation. And Sec 8 housing has been suggested previously. As a parent, I do think it would b...
by jubal
Thu Apr 05, 2012 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

Some clarification here: First of all, my daughter isn't an "idiot". She shops intelligently, buys clothing and other things at thrift stores, coupons and buys things on sale, all to help with the budget. They don't get food stamps. Secondly, my daughter wouldn't kill her baby. Thirdly, despite our best efforts, sometimes children are conceived, and sometimes it's a surprise. The fourth one was a surprise. She'd already sold the car seat, the crib, and other stuff, with plans on getting the tubes tied in the near future. Fourth, it wasn't my daughter who came up with the idea of renting my house. It was my idea--and I hadn't really thought it through before blurting it out. As soon as I mentioned it, I had reservations, but still ...
by jubal
Thu Apr 05, 2012 8:29 am
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

ResNullius wrote:Ok, I'll ask it. Why is she pumping out kids when her husband doesn't have a job and she doesn't have a job? Take care of yourselves, let them sink or swim.
She has a job. He takes care of the kids.
by jubal
Wed Apr 04, 2012 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

[quote="wlpotts]In an effort to put this into perspective, I have a question for you. When you were married and just starting out, did you have a parent or an in-law that financed your housing, childcare and expenses or did the two of you have to make some decisions based upon your life situation? wlpotts[/quote] We borrowed a bit of money from my parents and in-laws for some car repairs and schooling, but not a lot, and yes, we mostly made our decisions based upon our life situation, including going without a phone for a few months. It seems many of your possible solutions require you raiding your retirement funds. That would be a mistake even if your wife enjoyed 100% health. I can tell you from personal experience, if there comes a ...
by jubal
Tue Apr 03, 2012 8:02 pm
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

That's pretty much the conclusion we have come to. Thanks for the counsel.
by jubal
Tue Apr 03, 2012 6:42 am
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

Re: I need some advice on whether to rent my home to my daug

What happens if later she cannot pay the rent? What jepody are you in then for your own self preservation?Andwer those two questions and you have your answer. Good idea. Since that house would be paid off, we'd only have to make the full payment on the new house, instead of the partial because of the no rent coming in for that month...so in that way it's doable. Then again, if it became a habit (which it wouldn't, my daughter is very conscientious) it would be trouble. If you only have $6400 in savings, where are you going to find the money for a down-payment for a new house? Yeah, that's one of the reasons we aren't ready to move. But my wife's health may cause that to be a problem we have to ignore. Not yet though. If it came down to it,...
by jubal
Mon Apr 02, 2012 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: I need some advice on whether to rent my home to my daughter
Replies: 30
Views: 3426

I need some advice on whether to rent my home to my daughter

Here are the details: We are about $7000 away from having our home paid for. We also owe about $5400 in a home equity loan. We have around $6400 in savings in our credit union. My original plan was to pay off the house as soon as my savings got high enough to pay off the $7000 and still have $500 in savings, figuring that without a $750 house payment, my savings would quickly rebuild. The home equity loan is for my wife's teeth and next year she will probably need another $6000 of work to be done on her teeth. I was thinking I'd have most of the $5400 paid off by then, and could account for much of the future $6000 expenditure with my flexible spending account. Now, my daughter who is married with three children recently found out she was p...
by jubal
Tue Mar 20, 2012 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Family issues - finance related
Replies: 12
Views: 2195

Re: Family issues - finance related

jenny345 wrote:
momar wrote:
jenny345 wrote: Other than that, I think your answer might lie in age old wisdom - you are not your brother's keeper.
Ummm...
I'm speaking from experience after trying the more compassionate get involved and lose a lot of my own money approach and finding out how well that worked out.

I have friends and relatives like that still, not the porn part but the impulsive, crazy spending part. I have just learned to listen with sympathy to their tales of financial self destruction and not give unsolicited advice.
I agree with that, but my brother expects bail outs--at least from past experience he has. I don't do them unless people are willing to listen and do what it takes to change. Get help or whatever it takes, but the effort must be there.
by jubal
Tue Mar 20, 2012 3:01 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part V
Replies: 3372
Views: 1561676

Re: What Book Are You Currently Reading? Part V

I'm reading a bunch at once. Probably more than is on this list (but here they are, most of them): http://www.goodreads.com/review/list/18 ... ly-reading