Search found 7 matches

by Besty2017
Mon Jun 26, 2017 7:16 am
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

Re: 58 years old and laid off seeking advices

Joint Taxable account 47.7% $1,487,000 2.2% BA Boeing $70K 2% BRKB Berkshire Hathaway B $61K 2.1% GE $65K 1.7% IVV iShare S&P 500 $55K 2.8% JNJ Johnson & Johnson $88K 3.2% PG Procter & Gamble $99K 2% VFIAX 500 index $61K 11.8% VTI total market. <---some money added here .4% Some small stocks $13K 7.5% Money market or Short Term Tax Exempt Bond $223,775 <---new fund? 12% Total International Index <---new fund You could use the dividends from that taxable account as part of (or maybe all) the $65k you need to live on. retiredjg, This taxable account could generate dividend about $28,319/year. If I withdrew 60% of my 401k and added to VTI and rolled over 40% of my 401k to IRA and maintained that portion in total bond, we could get...
by Besty2017
Sun Jun 25, 2017 12:04 pm
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

Re: 58 years old and laid off seeking advices

nedsaid wrote:
Besty2017 wrote:We thought that we could wait as long as possible before taking Social Security assuming that our taxable account could support us for a few years. I have not yet organized myself enough about my job searching decision. As for health insurance, that is least familiar task for me. Thanks for pointing them out.
Your Social Security benefits increase about 8% a year for every year you wait. If you and spouse have family history of longevity, you might even consider waiting until age 70 to start taking benefits.
Thank your pointing out this as deciding factor. Our parents are at 88, 87, and 86. Her mother passed away at 84.
by Besty2017
Sun Jun 25, 2017 11:53 am
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

Re: 58 years old and laid off seeking advices

Thank you Chip! You basically gave me a year by year plan all the way to our 70's. :happy I do have a simple question for you. Why 64k/year, 36+22+3+3, is in 25% tax bracket? ( laid off is still bothering me ) I thought it is between $75,901 and $153,100 for 2017.
Chip wrote: RMDs start at 3.7% of account value and go up each year. So on your current balance that would be about 36k/year. Your wife's would be 22k/year. Add in SS (wild guess of 30k each) and you will be into the 25% tax bracket. And that's not counting other income nor account growth between now and then.
by Besty2017
Sun Jun 25, 2017 11:34 am
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

Re: 58 years old and laid off seeking advices

DW – after tax Trad IRA 2.1% $66,000 <---documented with Forms 8606 each year? Yes, it is documented with Forms 8606. DH – IRA 13.6% $423,000 <--is this all pre-tax? 13.6% Total Bond Index I made a mistake to rollover my first 401k to this IRA. :oops: I had no idea what IRA was. So it contains after tax contributions, documented with Forms 8606. I do have a question. You seem uncertain that you have enough money to live on, yet you say your annual expenses are only about $65k. Add taxes to that and maybe you'll be taking $80k a year from the portfolio. That is only a 2.5% withdrawal rate based on the portfolio size today. Since you live very frugally and have no debt and college is paid for and there will eventually be SS added to your inc...
by Besty2017
Sat Jun 24, 2017 9:49 pm
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

Re: 58 years old and laid off seeking advices

We thought that we could wait as long as possible before taking Social Security assuming that our taxable account could support us for a few years. I have not yet organized myself enough about my job searching decision. As for health insurance, that is least familiar task for me. Thanks for pointing them out.
by Besty2017
Sat Jun 24, 2017 8:36 pm
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

Re: 58 years old and laid off seeking advices

Thanks for feedback. We have no debt. The market price of our house is about 250K. Our average expense per year was about 65K. We do not have any taxable stock loss to offset any capital gain and have enough MM to live for a few years. We are not sure when to sell any stock in our taxable account to carry out a desired asset allocation.
by Besty2017
Sat Jun 24, 2017 7:21 pm
Forum: Personal Investments
Topic: 58 years old and laid off seeking advices
Replies: 43
Views: 8060

58 years old and laid off seeking advices

I got laid-off recently and am seeking advices. I was told to receive a severance pay with 26-week base pay rate and accrued vacation value after working for 20+ years in the company. I am 58 years old and DW is 53. I am mentally tired of my ex-position and not allowed to talk about the situation as part of the deal to get the severance pay. DW has difficulty to find work for a few years. We do not have any pension. Son 1, 18, is going to in-state University with tuition and board covered by 529 and scholarships for all 4 years. Son 2, 15, is a high schooler with in-state tuition cost covered by 529 for all 4 years as well. Joint Taxable account: BA Boeing $70K BRKB Berkshire Hathaway B $61K GE $65K IVV iShare S&P 500 $55K JNJ Johnson &...