Search found 309 matches

by smitcat
Mon Jun 26, 2017 9:59 am
Forum: Investing - Help with Personal Investments
Topic: Can we retire early?
Replies: 8
Views: 1415

Re: Can we retire early?

Simplification will help the picture but you should be fine based upon your post and a few guess's on items that you did not include. Assumptions/ guess's ... - Your retire ages will be 50/48 - Your tax situation will lower when DH retires this year - The max funds required pre tax will be $130K/yea...
by smitcat
Sat Jun 24, 2017 8:25 am
Forum: Personal Consumer Issues
Topic: Stop saving and start spending
Replies: 24
Views: 2810

Re: Stop saving and start spending

I would like some advice on whether we still need to save every year or can start sending most of our disposable income. I am 43 and my wife is 39, and we have kids aged 12 and 9. We are fortunate to have an annual income of $400K. Our house is paid off and it is worth $1.2M. We have $1M in investe...
by smitcat
Fri Jun 23, 2017 7:55 am
Forum: Personal Consumer Issues
Topic: Actuary Career - Thoughts Please
Replies: 20
Views: 2484

Re: Actuary Career - Thoughts Please

According to this recent article it sounds like a great career move if someone likes that type of work (best chance for employment)....

https://www.msn.com/en-us/money/careers ... =BBCHmu2|2
by smitcat
Fri Jun 23, 2017 7:47 am
Forum: Investing - Help with Personal Investments
Topic: ROTH conversion
Replies: 12
Views: 1044

Re: ROTH conversion

Have you run these well in my last post I am doing a comparison of what it will cost me in taxes to convert $130,000 over 2 years = $41K. If I do not convert, based on today's tax rate in 2020 my RMD taxes will be $15,996 If I do convert $130K over 2 years based on today's tax rate in 2020 my RMD ta...
by smitcat
Thu Jun 22, 2017 8:29 am
Forum: Investing - Theory, News & General
Topic: Christine Benz: "How to Make the Most of Your 401(k)"
Replies: 24
Views: 3151

Re: Christine Benz: "How to Make the Most of Your 401(k)"

I am astonished how many people don't participate in 401k plans. The employer match is low hanging fruit ready to be plucked and there are folks that refuse even that. It seems that there are other priorities and retirement seems so far off. I think the issue is the initial administrative barrier. ...
by smitcat
Tue Jun 20, 2017 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Liability with dogs, hypothetical
Replies: 67
Views: 2883

Re: Liability with dogs, hypothetical

"Hypothetical: say she or some other dog owner came on our property and their dog was injured. Our dog is unleashed, but "controlled" by the invisible fence. Are we liable?" Would you be liable? Very likely yes you would. Should you be liable - no not in my opinion. We have seen ...
by smitcat
Mon Jun 19, 2017 6:39 pm
Forum: Investing - Help with Personal Investments
Topic: Mid-40's, single parent, "retired", $1.6M portfolio, investment advice sought.
Replies: 50
Views: 7559

Re: Mid-40's, single parent, "retired", $1.6M portfolio, investment advice sought.

"I must have missed something. Even with 1% investment management fee, FireCalc gives 95% success rate on $51K withdrawal, 100% success rate with $46K withdraw. And this result does not even consider SS benefits. If OP mentioned 40K expense, why all the worry and doom?" High fixed costs , ...
by smitcat
Fri Jun 16, 2017 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 228
Views: 35407

Re: Regret early retirement/downsizing

I don't play video games at all really. But I'd much rather play video games than be at work! There's nothing noble about being judgmental about others' hobbies. Of course there isn't. But I will tell you my experience in life is people who aren't doing the things they dream about, at least to some...
by smitcat
Fri Jun 16, 2017 6:44 am
Forum: Investing - Theory, News & General
Topic: What growth rate for your projection calcs?
Replies: 31
Views: 2502

Re: What growth rate for your projection calcs?

I use zero percent real. Most likely it will turn out to be more, which will mean I'll be able to increase spending faster than general inflation. How well my own personal expenses will correlate with it, because CPI is based on a standardized basket of goods and services and nationwide average pri...
by smitcat
Thu Jun 15, 2017 12:04 pm
Forum: Investing - Theory, News & General
Topic: What growth rate for your projection calcs?
Replies: 31
Views: 2502

Re: What growth rate for your projection calcs?

^ for us, it won't matter too much. The rental rents will increase in times of inflation and remain stable in deflation situations. Long Put The GLWB annuities' income will stepup in Market falls and have rollups in Market runs. Long Straddle. The Discretionary is fluid and without restrictions. I ...
by smitcat
Thu Jun 15, 2017 9:38 am
Forum: Investing - Help with Personal Investments
Topic: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)
Replies: 114
Views: 14971

Re: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)

Smitcat, You're absolutely right, I was not trying the long form iORP. Took a look and it asks for a great deal more information than I have. Sent it to him to figure out! If you want to look at comparing variables that you introduce also consider using the 'fixed payout plus inflation' option on t...
by smitcat
Thu Jun 15, 2017 8:21 am
Forum: Investing - Theory, News & General
Topic: What growth rate for your projection calcs?
Replies: 31
Views: 2502

Re: What growth rate for your projection calcs?

Not applicable. Retired. Your question has no conditions or limitations. Liability Match Portfolio or Funded Ratio >1.1 or Liability Driven of any two buckets listed in the signature line below. Any projections are for the Discretionary Accts which can consist of anything. YMMV Actually, it is appl...
by smitcat
Wed Jun 14, 2017 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Am I calculating correctly
Replies: 11
Views: 625

Re: Am I calculating correctly

It is easy and best to track these separately: - Earned income - Taxes paid - Normal living expenses - Savings from earned income You will need those figures to help with retirement planning and seeing how your investments will play into the plan. These will be needed as well: - Anticipated SS - Pen...
by smitcat
Wed Jun 14, 2017 7:39 am
Forum: Investing - Help with Personal Investments
Topic: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)
Replies: 114
Views: 14971

Re: My dad is taking Social Security at 62, why would anyone not? (If they already quit working)

This never fails to be an interesting topic. Let's try this: My business partner will retire at age 62, about three years from now. Given his set of circumstances, he feels his spouse, who retired this year at age 59, should claim her SS at 62. We have discussed this a few times as he feels I shoul...
by smitcat
Tue Jun 13, 2017 2:53 pm
Forum: Personal Consumer Issues
Topic: How many tech devices do you have?
Replies: 75
Views: 3077

Re: How many tech devices do you have?

If I get a new piece of tech, I make sure to get rid of an old piece of tech, so I have a steady state. When I was working, I owned no tech of my own, but had an employer-provided smart phone and laptop. I have a pushbutton landline phone (not rotary, not cordless), an LCD watch/HRM, an answering m...
by smitcat
Tue Jun 13, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan [KlangFool's]

Well - that is what I would do but I visualize early retirement costs conservatively. In my case I would not want to retire and be 'worried' about the funds lasting so it would be better for me to make that bridge fairly certain one way or another. That is my case anyway - YMMV as others feel differ...
by smitcat
Tue Jun 13, 2017 9:32 am
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan [KlangFool's]

<< Folks, This is my worst-case retirement scenario. Please review and criticize. 1) Retire at 54 years old with a portfolio of 1 million and the AA of 60/40 2) 300K Mortgage. 6 years into 30 years 3.49% fixed rate mortgage. 3) Taxable/Roth/Tax-deferred 45/10/45 4) Annual expense = 60K with the mor...
by smitcat
Tue Jun 13, 2017 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Should equals take SS at FRA or Early to preserve portfolio?
Replies: 30
Views: 2555

Re: Should equals take SS at FRA or Early to preserve portfolio?

If a couple are both at similar ages and similar incomes then delaying until 70 for one of the couple is still optimal in terms of a widow's benefit. Looking at the difference between the second spouse claiming at 66 vs. 70 would be a difference of about $2500 monthly vs. $3300 monthly. The cost of...
by smitcat
Mon Jun 12, 2017 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Retire Early?? Part 2: Withdrawal Strategy and Plan
Replies: 12
Views: 1677

Re: Retire Early?? Part 2: Withdrawal Strategy and Plan

I wonder how I-orp came up with that. I would think that liquidating the taxable would be the most tax efficient way to go. Does I-orp know how much of your taxable account is capital gains? It could be that by delaying on taking from the IRA that you are "robbing Peter to pay Paul", so t...
by smitcat
Mon Jun 12, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Spouse returning to work. How to keep low stress lifestyle?
Replies: 47
Views: 4572

Re: Spouse returning to work. How to keep low stress lifestyle?

I have a great job and enjoy what I do (low 6 figure salary, 7 week’s vacation, 5 minute commute, no stress, total flexibility, can work from home and great co-workers) and we’d like to keep things simple like they are now but still have him work in some capacity. Any thoughts or ideas? Where do I ...
by smitcat
Mon Jun 12, 2017 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4069

Re: Is there a calculator that solves for optimal Roth conversion

I don't think some Roth conversions are even necessary. If your heirs take your traditional account and their tax bracket is equal or less than yours I don't think the estate is losing money by them taking RMD's for many years at a reasonable tax rate, especially if they can use the money. Would no...
by smitcat
Mon Jun 12, 2017 7:09 am
Forum: Investing - Help with Personal Investments
Topic: Should equals take SS at FRA or Early to preserve portfolio?
Replies: 30
Views: 2555

Re: Should equals take SS at FRA or Early to preserve portfolio?

and hopefully end up with only a small portion remaining in tax deferred. Why are you hoping and not calculating? While there are too many variables to be exact, run a few scenarios with your expected retirement expenses coming from various sources between now and age 70. Based on prior posts my se...
by smitcat
Mon Jun 12, 2017 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Spouse returning to work. How to keep low stress lifestyle?
Replies: 47
Views: 4572

Re: Spouse returning to work. How to keep low stress lifestyle?

We had a friend in similar position and he got a job at a local collage where one of the benefits was greatly reduced tuition for immediate family members. With 4 kids and college costs on the horizon that might be a wonderful benefit if there are opportunities in local colleges.
by smitcat
Sun Jun 11, 2017 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: couple questions about SSA (67 vs 70) and breakeven points
Replies: 20
Views: 1635

Re: couple questions about SSA (67 vs 70) and breakeven points

But, that is more based on value of longevity insurance rather than a breakeven analysis like this. This is why the Social Security debate will go on and on. There are 2 ways to evaluate SS - break even calculation or longevity insurance. If you want to "get the most back" from all that w...
by smitcat
Sat Jun 10, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4069

Re: Is there a calculator that solves for optimal Roth conversion

I don't think some Roth conversions are even necessary. If your heirs take your traditional account and their tax bracket is equal or less than yours I don't think the estate is losing money by them taking RMD's for many years at a reasonable tax rate, especially if they can use the money. Would no...
by smitcat
Sat Jun 10, 2017 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4069

Re: Is there a calculator that solves for optimal Roth conversion

If your situation was different and you could get your current AGI much lower in the $50K range then would you agree that one good option would be to Roth convert more like $90K? That depends on what my projected age 70 AGI was in that case. If it was still $150k, then yes, substantial Roth convers...
by smitcat
Sat Jun 10, 2017 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4069

Re: Is there a calculator that solves for optimal Roth conversion

"It seems that simplistically optimizing a stream of earnings and taxes until age 90 or whatever isn't necessarily going to yield the best result since most people won't live that long. For example, I don't think I-ORP takes into account longevity." Using IORP you can plug in any date you ...
by smitcat
Sat Jun 10, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Is there a calculator that solves for optimal Roth conversion
Replies: 54
Views: 4069

Re: Is there a calculator that solves for optimal Roth conversion

...Do Roth conversions up to the next tax bracket between 60 and 65 when pensions start. Do Roth conversions up to the next tax bracket between 65 and 70 when SS starts. Do Roth conversions up to the next tax bracket when over 70 until the account is spent, and/or converted, and the TRAD account ha...
by smitcat
Thu Jun 08, 2017 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: How to deal with a personal finance cynic
Replies: 109
Views: 5813

Re: How to deal with a personal finance cynic

He doesn't want help. If he did, he would have found the posts from young people starting out, and from the many people in the 15% bracket. It's easy to find reasons not to do things you don't want to do. Not sure that is the case as he is generally open and accepting of suggestions. To me it just ...
by smitcat
Thu Jun 08, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan [KlangFool's]

"though I do have a late 40's white guy starting on Monday. :)"

Glad to see you are hiring minorities !!!!
by smitcat
Thu Jun 08, 2017 9:24 am
Forum: Personal Finance (Not Investing)
Topic: i-ORP: Stock rate of return input?
Replies: 3
Views: 334

Re: i-ORP: Stock rate of return input?

Thank you for the tip. Have to admit, I'm disappointed (I really wanted to be told "oh, no! you'll surely get guaranteed 12%!") but in this case reality and conservatism rule the day. I have also tested with something in the range of 2% - but that is not expected by us anyway. We run the ...
by smitcat
Wed Jun 07, 2017 10:25 am
Forum: Investing - Help with Personal Investments
Topic: Should equals take SS at FRA or Early to preserve portfolio?
Replies: 30
Views: 2555

Re: Should equals take SS at FRA or Early to preserve portfolio?

It also depends what it means with your tax situation - will it affect potential Roth conversions.
by smitcat
Tue Jun 06, 2017 9:57 am
Forum: Investing - Help with Personal Investments
Topic: My Variable Annuity [what do I have?]
Replies: 39
Views: 3233

Re: My Variable Annuity [what do I have?]

Given the expenses and opportunity costs that have already been paid over the past 10 years, the small percent this represents of the OP's overall portfolio (10%), and the resultant value of the income base ($179k), which is only useful upon the eventual annuitization with Metlife, I'd keep the pro...
by smitcat
Sat Jun 03, 2017 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan [KlangFool's]

I'm about your age and worked in IT for 20 years before changing careers (purposely). I experienced layoffs and anxiety throughout. During one of those periods, I commuted 1.5 hours each way daily for over a year before finding another job in my home city. So I feel your pain. Man, when did the IT ...
by smitcat
Sat Jun 03, 2017 5:17 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

Klangfool, see it this helps, Maybe if you follow the plan on this webstie it will work. I have been reading this site for a couple of years. The family lives frugal and both retired early. I beleive 40s.. I believe they live off of $30,000yr http://www.mrmoneymustache.com Certainly some of the ide...
by smitcat
Fri Jun 02, 2017 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

Klangfool, see it this helps, Maybe if you follow the plan on this webstie it will work. I have been reading this site for a couple of years. The family lives frugal and both retired early. I beleive 40s.. I believe they live off of $30,000yr http://www.mrmoneymustache.com Certainly some of the ide...
by smitcat
Fri Jun 02, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

I guess with your knowledge of your home country and the data you have just posted my question would be why are you not there already? 20-30 / full heath care / a location you know well and like - do those facts not make the rest of this post a worthless excercise? smitcat, 1) My kids are in colleg...
by smitcat
Fri Jun 02, 2017 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

I guess with your knowledge of your home country and the data you have just posted my question would be why are you not there already? 20-30 / full heath care / a location you know well and like - do those facts not make the rest of this post a worthless excercise? smitcat, 1) My kids are in colleg...
by smitcat
Fri Jun 02, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

Do you enjoy your work or hate it? I think that is a major consideration. tc101, I am not one of those that have the choice. Due to age discrimination, I may be permanently unemployed if I lose the current one. Many of my peers in the 40s and 50s are permanently under-employed and unemployed. To an...
by smitcat
Fri Jun 02, 2017 11:14 am
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

Do you enjoy your work or hate it? I think that is a major consideration. tc101, I am not one of those that have the choice. Due to age discrimination, I may be permanently unemployed if I lose the current one. Many of my peers in the 40s and 50s are permanently under-employed and unemployed. To an...
by smitcat
Fri Jun 02, 2017 11:01 am
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

My brother spends about 10 months each year in Thailand two trips an year for the past 6-7 years. His costs have been pretty low and controllable and he has some funds established over there now for quite some time. As shown by his actions he absolutely loves the country.... The recent politics ther...
by smitcat
Fri Jun 02, 2017 10:49 am
Forum: Investing - Theory, News & General
Topic: RMD on Declining Balance
Replies: 53
Views: 3289

Re: RMD on Declining Balance

...Note the "all households" data (green bars). Sorry, I really don't believe that $12,000 median for people around age 60. This must exclude $$ in taxable account or be including people outside the US. Something like that. Or perhaps it's ignoring people with pensions or $500,000 worth o...
by smitcat
Fri Jun 02, 2017 9:06 am
Forum: Personal Finance (Not Investing)
Topic: KF's Worst Case Retirement Plan [KlangFool's]
Replies: 252
Views: 16871

Re: KF's Worst Case Retirement Plan

KlangFool -I have appreciated your posts greatly, they have been very helpful. "This is my worst-case retirement scenario. Please review and criticize." Doing it on your own and the math works out pretty well - so my thoughts for you are similar to my thoughts for my wife and I. That is it...
by smitcat
Fri Jun 02, 2017 8:51 am
Forum: Investing - Theory, News & General
Topic: RMD on Declining Balance
Replies: 53
Views: 3289

Re: RMD on Declining Balance

I believe the much larger 'surprise' in retirement lifestyle come from those future items less planned for rather than a known RMD or a more obvious portfolio decline. What might escape many retirement plans to creep up and generate both surprise and a decline in lifestyle is the effects of tax in t...
by smitcat
Fri Jun 02, 2017 6:54 am
Forum: Investing - Theory, News & General
Topic: RMD on Declining Balance
Replies: 53
Views: 3289

Re: RMD on Declining Balance

I wonder how many retirees know that they will have a RMD on a declining balance on their IRAs? and Somewhere-Sometime they will discover that their IRA will no longer support their life style of ~4% SWR? YMMV The error in this strategy is assuming that the RMD should match your spending. If the RM...
by smitcat
Thu Jun 01, 2017 12:12 pm
Forum: Investing - Theory, News & General
Topic: RMD on Declining Balance
Replies: 53
Views: 3289

Re: RMD on Declining Balance

I wonder how many retirees know that they will have a RMD on a declining balance on their IRAs? and Somewhere-Sometime they will discover that their IRA will no longer support their life style of ~4% SWR? YMMV I disagree. I'm a math guy and am fully aware of how RMDs work over time. Bulk of my inco...
by smitcat
Wed May 31, 2017 5:42 pm
Forum: Personal Consumer Issues
Topic: anyone ever live/living on a boat?
Replies: 46
Views: 5604

Re: anyone ever live/living on a boat?

I have owned a couple of dozen boats and the 47 we have has two baths one which has a 5' tub in it - I am pretty sizable and they are not a problem. As the OP asking the questions is in the Northeast like myself the grey water is not an issue. The OP was asking about using this boat in the summer o...
by smitcat
Wed May 31, 2017 12:54 pm
Forum: Personal Consumer Issues
Topic: anyone ever live/living on a boat?
Replies: 46
Views: 5604

Re: anyone ever live/living on a boat?

Sandi_k - FWIW , none of your issues (1-5) would exist in the OP's proposed 50' Hatteras. Once someone gets on one of these 50'+ powerboats with all the amenities their view of boats typically changes quite a lot - but it does come at a price. Ours was a 40' cabin cruiser, and it's smaller than you...
by smitcat
Wed May 31, 2017 9:23 am
Forum: Personal Consumer Issues
Topic: anyone ever live/living on a boat?
Replies: 46
Views: 5604

Re: anyone ever live/living on a boat?

As a high schooler, I lived on a cabin cruiser for a year, with my mom, step-dad, and younger brother. There are real downsides, especially if you live with others. 1) Mildew. We (my brother and I) had a hanging closet of ~ 24" wide and 48" high. To share. Otherwise, clothes were stuffed ...
by smitcat
Mon May 29, 2017 9:08 am
Forum: Personal Consumer Issues
Topic: anyone ever live/living on a boat?
Replies: 46
Views: 5604

Re: anyone ever live/living on a boat?

"So I looked into an air bnb for the summer and would work out to be about 30k/season for a place on the water. So guess financially the same, comes down to maintenance time/headaches vs being on the water. Food for thought. Thanks for the idea. Chipperd" We have logs on each of our boats ...

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