Search found 1206 matches

by smitcat
Fri Apr 20, 2018 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 130
Views: 11372

Re: Can I retire at age 40?

I retired at 42. "Sit at home" does not describe my lifestyle at all. Out of curiosity, do you have children? I've noticed a lot (most?) of the very early retirees have children that largely occupy their time. Other than extensive travel, I'm wondering what childfree retirees do. I worry about this...
by smitcat
Thu Apr 19, 2018 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 130
Views: 11372

Re: Can I retire at age 40?

This thread is hilarious. Make sure to save enough for the divorce that will come when your wife works as a teacher while you sit at home. Not to mention the work ethic that you'll be instilling in your children. Find a different job. The beauty of your position is that it can pay less, so you have...
by smitcat
Thu Apr 19, 2018 8:09 am
Forum: Investing - Help with Personal Investments
Topic: Is this annuity really as bad as I think it is? (Symetra Select 7)
Replies: 6
Views: 1089

Re: Is this annuity really as bad as I think it is? (Symetra Select 7)

The in laws got laid off last year and quietly (didn't want to be a bother) rolled their 401ks over to Chase's Symetra Select 7 Annuity. Both are blue collar workers (company went overseas) who had worked about 30 years in CA @ about $15-20 an hour. Age: 64/64 Purchased Payment (principal): $100,00...
by smitcat
Thu Apr 19, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 130
Views: 11372

Re: Can I retire at age 40?

For clarity... I don't have 120,000 of expenses after taxes. I have 120,000 BEFORE taxes. Out of that money I pay $25,000 for health insurance for my family of 6 and have been making a mortgage payment and 2 car payments of roughly $2500 a month. That is all paid off so realistically my other expen...
by smitcat
Thu Apr 19, 2018 7:26 am
Forum: Personal Consumer Issues
Topic: [Balancing school workload and family time]
Replies: 15
Views: 532

Re: [Balancing school workload and family time]

I had this split into its own thread as it was derailing the other thread. My kids actually saw more homework in middle school and freshman year of high school then the junior and senior years. Might just be something in my school district but speaking with other parents in other schools they were ...
by smitcat
Wed Apr 18, 2018 10:46 am
Forum: Personal Consumer Issues
Topic: [Balancing school workload and family time]
Replies: 15
Views: 532

Re: Child expenses - what to expect as your kids go from daycare to school

From middle school onward my kids were expected to do 6-8+ hours of home work every night. Sorry but this just de-railed the thread. I absolutely do not believe this. So basically, your kid worked 13-16 hour days from age 12-18? That is preposterous and so far out of the experience I've had. Middle...
by smitcat
Wed Apr 18, 2018 10:46 am
Forum: Personal Consumer Issues
Topic: [Balancing school workload and family time]
Replies: 15
Views: 532

Re: Child expenses - what to expect as your kids go from daycare to school

From middle school onward my kids were expected to do 6-8+ hours of home work every night. Sorry but this just de-railed the thread. I absolutely do not believe this. So basically, your kid worked 13-16 hour days from age 12-18? That is preposterous and so far out of the experience I've had. Middle...
by smitcat
Wed Apr 18, 2018 8:43 am
Forum: Investing - Help with Personal Investments
Topic: I want to pay off my mortgage. Am I crazy?
Replies: 54
Views: 5118

Re: I want to pay off my mortgage. Am I crazy?

Maybe the amounts involved won't make that much difference either way since we have reached the point in life where we have enough to retire. So the feeling that comes with having no debt might be the most important thing to achieve. On the other hand, after making so many decisions for so long bas...
by smitcat
Wed Apr 18, 2018 8:21 am
Forum: Investing - Help with Personal Investments
Topic: I want to pay off my mortgage. Am I crazy?
Replies: 54
Views: 5118

Re: I want to pay off my mortgage. Am I crazy?

I had a mortgage on my 2nd residence. I paid it off after 1 mortgage payment as I hated owing anything . Pay it off and get pleasure :sharebeer . Does the pleasure pass, or is there initial excitement and then just onto the next thing? We are within 1-2 years of being able to pay ours off, but I am...
by smitcat
Wed Apr 18, 2018 8:18 am
Forum: Investing - Help with Personal Investments
Topic: I want to pay off my mortgage. Am I crazy?
Replies: 54
Views: 5118

Re: I want to pay off my mortgage. Am I crazy?

Maybe the amounts involved won't make that much difference either way since we have reached the point in life where we have enough to retire. So the feeling that comes with having no debt might be the most important thing to achieve. On the other hand, after making so many decisions for so long bas...
by smitcat
Wed Apr 18, 2018 8:06 am
Forum: Personal Consumer Issues
Topic: [Balancing school workload and family time]
Replies: 15
Views: 532

Re: Child expenses - what to expect as your kids go from daycare to school

You have to balance their school workload and the overall family time. Ie we are not going to running around to 20 different activities each week. From middle school onward my kids were expected to do 6-8+ hours of home work every night. :shock: With that much homework, how is there any time left f...
by smitcat
Tue Apr 17, 2018 7:08 pm
Forum: Investing - Help with Personal Investments
Topic: I want to pay off my mortgage. Am I crazy?
Replies: 54
Views: 5118

Re: I want to pay off my mortgage. Am I crazy?

Maybe the amounts involved won't make that much difference either way since we have reached the point in life where we have enough to retire. So the feeling that comes with having no debt might be the most important thing to achieve. On the other hand, after making so many decisions for so long bas...
by smitcat
Tue Apr 17, 2018 10:55 am
Forum: Investing - Help with Personal Investments
Topic: New to board with Brighthouse Annuity question?
Replies: 9
Views: 610

Re: New to board with Brighthouse Annuity question?

Initial investment was $167K, 2.5 yrs later its value at $209Kish witha surrender value at $194Kish, so it would cost us $15K to get out of it, choice is leave in there for another 3.5yrs and see what my actual return is (if its not the max 75% I thought) or take the 7% hit now and invest in a simp...
by smitcat
Mon Apr 16, 2018 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: child starting college this fall - what do I need to know & do?
Replies: 13
Views: 1225

Re: child starting college this fall - what do I need to know & do?

Some things to think about that we learned from our daughter who just graduated a few years back... - she received a 'scholarship' of $2K per year just for the area of the country she originated from - she applied for and received a 'leadership' scholarship that she learned about from our admissions...
by smitcat
Mon Apr 16, 2018 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?
Replies: 121
Views: 7920

Re: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?

Yes. My question would be is $75,ooo per year enough 30, 40, 50 years from now. I highly doubt it is, if 75k is appropriate today. I'm guessing you're planning on adjusting for inflation or using a 2.5% withdrawal rate - not a static 75k??? The answer would still be yes. Somewhere between $40k to $...
by smitcat
Mon Apr 16, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 130
Views: 11372

Re: Can I retire at age 40?

This is great stuff. Currently we have been living off $120,000 and paying $25,000 for a family plan insurance that includes health. Dental. Vision I did check a little bit on Open market and was coming up with similar pricing albeit higher deductibles. That $120,000 included insurance so really li...
by smitcat
Mon Apr 16, 2018 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at age 40?
Replies: 130
Views: 11372

Re: Can I retire at age 40?

I realize that is crazy talk but I think I can pull it off... that is only 14 months away. I've been very fortunate in investing and business. Negatives to early retirement: 4 children under age 10 and future expenses for them (college etc) healthcare for 6. Positives: House and 2 newer vehicles pa...
by smitcat
Mon Apr 16, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at the end of 2018 at age 59?
Replies: 31
Views: 5429

Re: Can I retire at the end of 2018 at age 59?

OP here. Thank you all for your responses and suggestions. I am concerned about the discrepancy between a 4% SWR and the simulator results that seem to ignore it. I'll try to address some of the issues that were raised: ResearchMed and aristotelian: Regarding SS, I was willing to trade off bigger f...
by smitcat
Sat Apr 14, 2018 1:49 pm
Forum: Personal Consumer Issues
Topic: What percentage of you 2017 income can you account for?
Replies: 49
Views: 3255

Re: What percentage of you 2017 income can you account for?

I input and categorize everything in Quicken. I try to allocate everything to a category although I do have a miscellaneous bucket for a few items that don’t fit other categories. I also allocate expenses at a total level - i.e., anything from Wal-Mart or Target goes into the Household line, everyt...
by smitcat
Sat Apr 14, 2018 7:35 am
Forum: Investing - Theory, News & General
Topic: Social Security survivor benefit
Replies: 11
Views: 732

Re: Social Security survivor benefit

UpstateNY86 wrote:
Sat Apr 14, 2018 7:04 am
Would she get the $2300? Or a percentage?
As a survivor she would get the $2,200 after 9 months of marriage and after the spouse's death.
As a spouse she would get a fraction during their shared life together.
by smitcat
Fri Apr 13, 2018 2:43 pm
Forum: Investing - Help with Personal Investments
Topic: HELP..not sure what to do at 55 YOA
Replies: 21
Views: 2767

Re: HELP..not sure what to do at 55 YOA

What are you doing for health insurance?
What is the current status of your SS account and your wife's SS accounts?
What do you believe your business value would be if you sold it?
by smitcat
Fri Apr 13, 2018 9:34 am
Forum: Personal Consumer Issues
Topic: How Far is too Far, Commuting?
Replies: 205
Views: 10675

Re: Work Commute: How far is too far?

I had a similar commute for better than 20 years at various jobs - for a year and a half I had to fly Mon - Fri about 2 hrs each way to the job most weeks.
by smitcat
Thu Apr 12, 2018 8:54 am
Forum: Investing - Help with Personal Investments
Topic: SPIA Return - Am I calculating this correctly?
Replies: 72
Views: 2688

Re: SPIA Return - Am I calculating this correctly?

OP, You dont need an annuity. It is for people who have low corpus with risk of outliving their money. You have inflation adjusted pension + ss and need to bridge a gap of 7-15 years with a fair corpus. Why not keep the corpus in stocks and bonds and do annual withdrawals? Have I missed your income...
by smitcat
Wed Apr 11, 2018 3:46 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

"- immediateannuities.com can give you CPI adjusted annuity quote for whichever age / state you like" I was hoping that you had a quote in mind one that made you sleep well at night to do the comparison(s) with. Without numbers its impossible to lay out the relative options. Ok, take today's quote:...
by smitcat
Wed Apr 11, 2018 3:38 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

"- immediateannuities.com can give you CPI adjusted annuity quote for whichever age / state you like" I was hoping that you had a quote in mind one that made you sleep well at night to do the comparison(s) with. Without numbers its impossible to lay out the relative options. Ok, take today's quote:...
by smitcat
Wed Apr 11, 2018 1:39 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

Hello Shawn, - What was the age and quote per $100,000 that you received for an inflation adjusted SPIA? - Taxable issues , if you have modeled for them then you are covered. In some cases the taxes can erode what you can spend after receiving funds. - Flexibility of funds, if you have it covered t...
by smitcat
Wed Apr 11, 2018 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Cash flow problems - best way to handle?
Replies: 134
Views: 7842

Re: Cash flow problems - best way to handle?

I love the Bogleheads forum, full stop. But I am appalled at some of the responses here :shock: ...some from posters I respect and admire for their input into other financial advice topics... MnyGrl, you are obviously smart enough to sort out the good advice here from the unhelpful nonsense. I don'...
by smitcat
Wed Apr 11, 2018 12:56 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

I do not know what might make you or anyone sleep better All the guarantees that are provided by the contract with insurance company and state guarantee association. For systemic risk you had mentioned, whole insurance industry would be negatively affected or wiped out altogether if breaking the co...
by smitcat
Wed Apr 11, 2018 11:58 am
Forum: Investing - Help with Personal Investments
Topic: SPIA Return - Am I calculating this correctly?
Replies: 72
Views: 2688

Re: SPIA Return - Am I calculating this correctly?

Was thinking about retiring at 55 and taking SS at 70. SS + COLA Pension covers all my base expenses. So, why not try a 15 year certain annuity to cover me from 55 to 70? Went to immediate annuity and got the following info: Period 15 Cost of Annuity 587,518 Monthly/Annual/Total Payout 4,000 48,000...
by smitcat
Wed Apr 11, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Cash flow problems - best way to handle?
Replies: 134
Views: 7842

Re: Cash flow problems - best way to handle?

In addition to cut misc expense. You will need ask kids to do their part job. If you want summer camp, that's fine, do find a part-time job. Want to watch Netflix, fine, deliver newspaper to make the $10.99 fee. Dine out, no, buy fresh food from local grocery and teach your kid how to cook. New car...
by smitcat
Wed Apr 11, 2018 11:24 am
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

Why, if you live a long time they pay you, if live a short time, the "balance" of the premium goes to your heirs. The longevity risk has been transferred to the insurance company in essence for the return you could have earned on the money, which could have been negative. Immediate Annuity shows a ...
by smitcat
Wed Apr 11, 2018 11:12 am
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

Given what I have written, I have no idea why anyone would sleep comfortably with an annuity if they had a probable lengthy lifespan yet in front of them. I think what you are saying is that because we might start living longer, insurance companies will be allowed to reneg on guarantees they had pr...
by smitcat
Wed Apr 11, 2018 11:06 am
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

Isn't this solved with a return of premium annuity which provides at least the premium is paid out. This seems to me to be a reasonable cost to gain the longevity insurance for a "portion" of one's portfolio. That partially negates the purpose of the annuity, which is to protect against living too ...
by smitcat
Wed Apr 11, 2018 8:31 am
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

Top 10 reasons why annuities could make this easier: 1. Ability to ignore the news about the market, I'm good. 2. Higher percent payout per annum than normally acceptable. 3. No heirs, let's die broke! 4. Peace of mind right away. 5. Short term bad decisions rectified by next months guaranteed chec...
by smitcat
Wed Apr 11, 2018 8:25 am
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

More problems when annuitizing: * You and your spouse could both die next year and your heirs would get nothing from that money that went into the annuity. Isn't this solved with a return of premium annuity which provides at least the premium is paid out. This seems to me to be a reasonable cost to...
by smitcat
Wed Apr 11, 2018 8:19 am
Forum: Investing - Theory, News & General
Topic: Why are business savings account rates so low?
Replies: 2
Views: 319

Re: Why are business savings account rates so low?

I am Treasurer of a non-profit bridge club. We have accumulated some cash and I wanted to earn some interest on it. I planned to put it in an online savings account such as Ally or American Express, expecting to earn 1.5% or so. Those banks do not provide business savings accounts. When I searched ...
by smitcat
Tue Apr 10, 2018 6:44 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 7995

Re: Why not annuitize most of portfolio?

So basically, we're against pensions as well? Instead of a pension of $70,000 per year, I should quit that and take a lump sum with a 4% swr? I prefer a hefty monthly income check, but your mileage may vary... I believe if I had your choice in annuities (as you described above) it would greatly aff...
by smitcat
Tue Apr 10, 2018 6:39 pm
Forum: Investing - Theory, News & General
Topic: Fisher Investments hard sell
Replies: 40
Views: 37684

Re: Fisher Investments hard sell

I have some experience that may be relevant to some. I have a very good friend that had done his research and decided the liked the market analysis that Fisher employed and decided (recently) to move some of their portfolio over. He recommended to me that I read up on them and download some materia...
by smitcat
Mon Apr 09, 2018 2:37 pm
Forum: Personal Consumer Issues
Topic: Cruise or other vaca ideas for Dad w/13yr old twin boys?
Replies: 36
Views: 2284

Re: Cruise or other vaca ideas for Dad w/13yr old twin boys?

I have 2 sons (13 and 15). Here are the things we've done before: Kid enjoyment level (1-10) • Visit Orlando and do the water parks. Disney has a 2 and they are great. We also hit EPCOT during the same visit. Kid enjoyment level: 9 • Fly to Sanibel Island (Near Sarasota) and spend a week. Shell col...
by smitcat
Mon Apr 09, 2018 10:16 am
Forum: Personal Consumer Issues
Topic: Cruise or other vaca ideas for Dad w/13yr old twin boys?
Replies: 36
Views: 2284

Re: Cruise or other vaca ideas for Dad w/13yr old twin boys?

I found Atlantis to be overrated (food and service both mediocre at best IMHO.) If you are thinking of a cruise, here is what I would do. (I have been on all of these cruiselines/ships.) -Royal Caribbean Oasis/Allure/Freedom/Liberty...Not sure what these ships itineraries are currently, but see if ...
by smitcat
Sun Apr 08, 2018 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: SS Benefit Calculators?
Replies: 24
Views: 1721

Re: SS Benefit Calculators?

A cut and paste from my post above that may answer your question(s).... I have run a number of SS calculators that 'maximized' SS for us (MFJ). After spending some time doing that I then started using calculators that took into consideration SS, taxes, RMD's etc and found that my time with the SS o...
by smitcat
Sun Apr 08, 2018 12:27 pm
Forum: Investing - Help with Personal Investments
Topic: SS Benefit Calculators?
Replies: 24
Views: 1721

Re: SS Benefit Calculators?

Based upon that input and in my research and opinion only you do not need a detailed paid calculator to refine your SS approach. I say this due to the fact that a 'refined and best' approach to retirement that only focuses on SS alone will be misleading and flawed. Modeling your future SS for a bes...
by smitcat
Sun Apr 08, 2018 10:58 am
Forum: Investing - Help with Personal Investments
Topic: SS Benefit Calculators?
Replies: 24
Views: 1721

Re: SS Benefit Calculators?

This is a great one -- costs $40 https://maximizemysocialsecurity.com/ Agreed. This is the best one if you are looking for a serious, detailed recommendation. In that context it is worth the money. For those that are just curious and don't need real correctness, just pick any of the free tools. Doe...
by smitcat
Sun Apr 08, 2018 9:59 am
Forum: Investing - Help with Personal Investments
Topic: SS Benefit Calculators?
Replies: 24
Views: 1721

Re: SS Benefit Calculators?

This is a great one -- costs $40 https://maximizemysocialsecurity.com/ Agreed. This is the best one if you are looking for a serious, detailed recommendation. In that context it is worth the money. For those that are just curious and don't need real correctness, just pick any of the free tools. Doe...
by smitcat
Fri Apr 06, 2018 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Your Monthly Cost of Living
Replies: 65
Views: 6453

Re: Your Monthly Cost of Living

Why do you ask? Just for comparison, I would also like to ask city and income but that might be too personal. I know some people splurge on housing and others on cars or dining out. It's interesting to see how Bogleheads spend their money. I am also interested in the ratio of housing : car : food t...
by smitcat
Fri Apr 06, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: What type of loan?
Replies: 7
Views: 352

Re: What type of loan?

I need a $5,000. short term loan to hold me off until a will is finalized sometime in May. I'm a beneficiary and will be getting around $80,000. I'm looking for a loan where I can show them the will if needed to make it happen. Hopefully not needing to pay them a high interest rate. I live in Cinci...
by smitcat
Fri Apr 06, 2018 11:26 am
Forum: Investing - Help with Personal Investments
Topic: Small company 401k plans
Replies: 30
Views: 1143

Re: Small company 401k plans

Going to help my DW (Controller of small 25 person firm) shop their 401k plan. They currently have John Hancock plan, and it is somehow brokered through Edward Jones. Last time I checked the fees run somewhere in the 1.5-2.0 %range. What are other options available in that space? I called vanguard ...
by smitcat
Fri Apr 06, 2018 11:07 am
Forum: Personal Finance (Not Investing)
Topic: Your Monthly Cost of Living
Replies: 65
Views: 6453

Re: Your Monthly Cost of Living

these threads always seem to flow to a feel of ..... "my costs are lower than yours" . Texas - 2 adults, 1 HS kid at home, 1 kid at univ. 1. Housing: $3035 (mortgage 1510, prop tax 800, Insurance 225,Utilities 500) 2. Transportation: @500 (Insurance -4 cars, Gas, registration/repairs, tolls, no loa...
by smitcat
Fri Apr 06, 2018 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Your Monthly Cost of Living
Replies: 65
Views: 6453

Re: Your Monthly Cost of Living

these threads always seem to flow to a feel of ..... "my costs are lower than yours" . Texas - 2 adults, 1 HS kid at home, 1 kid at univ. 1. Housing: $3035 (mortgage 1510, prop tax 800, Insurance 225,Utilities 500) 2. Transportation: @500 (Insurance -4 cars, Gas, registration/repairs, tolls, no loa...
by smitcat
Fri Apr 06, 2018 9:14 am
Forum: Investing - Theory, News & General
Topic: Trying the Impossible - Financing 30-Year Retirements with 40-Year Careers
Replies: 118
Views: 17127

Re: Trying the Impossible - Financing 30-Year Retirements with 40-Year Careers

We're well on track to work fewer years than our parents and grandparents (none of whom received a pension of any sort) yet have a higher standard of living and a longer retirement. This is due to having a higher income than most, a much higher savings rate, and more aggressive investments (my in-l...