Search found 863 matches

by Jackson12
Sat Jun 09, 2018 9:14 am
Forum: Investing - Help with Personal Investments
Topic: Retirement, allocation, & Fear
Replies: 15
Views: 1777

Re: Retirement, allocation, & Fear

I do have some personal experience with 403b plans which offer TIAA Traditional. It is similar to a bond fund in some ways and has a guaranteed interest rate. TIAA traditional accounts are guaranteed against a loss of principal. The specific guaranteed interest rate depends on when the contract was ...
by Jackson12
Tue Jun 05, 2018 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Need motivation - how much did you lower expenses by downsizing ( if you did)
Replies: 11
Views: 1575

Re: Need motivation - how much did you lower expenses by downsizing ( if you did)

I've been downsizing and simplifying since the day I retired and the feeling of emancipation is amazing. The actual move takes place soon and that's when the real adventure begins. Can't wait. Thanks to everyone who replied so far. We’re already going through our possessions and paring down. So muc...
by Jackson12
Tue Jun 05, 2018 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 433
Views: 50297

Re: How much money do you want to retire?

3 million plus, mostly due to a special needs kid who’ll always need a special needs trust plus SSDI. Extra funds for the sibling who will need to watch over him.

Goal is 3 million and we still worry it’s not enough to support the 3 of us.
by Jackson12
Tue Jun 05, 2018 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Need motivation - how much did you lower expenses by downsizing ( if you did)
Replies: 11
Views: 1575

Need motivation - how much did you lower expenses by downsizing ( if you did)

Please be kind. Even if the answer seems obvious it’s surprisingly hard for us, 2 people who usually make reasonable financial decisions. We’re near retirement and very torn about downsizing. We have been frugal, live within our means and have no debt. Our house is where our logic, emotion, and perh...
by Jackson12
Tue May 29, 2018 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: This is not a typical medical collections issue- what to do?
Replies: 52
Views: 7640

Re: This is not a typical medical collections issue- what to do?

Thank you for the quick response. I’ll definitely follow your advice and request the debt verification. I’ll also submit a complaint to my state’s consumer protection agency since this is clearly a scam by Confirmatrix and/or the collections agency. The funny thing is, the debt collector even admit...
by Jackson12
Thu May 24, 2018 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Alzheimer's Disease, Long Term Care, and your Retirement Finances
Replies: 83
Views: 7851

Re: Alzheimer's Disease, Long Term Care, and your Retirement Finances

There have been some discussions about long term care expenses on the forum, and I've found these to be very valuable. I just attended a session presented at the Banner Alzheimer's Research Institute in Phoenix that shed some additional light and concerns that I thought I'd like to share. The Banne...
by Jackson12
Wed May 23, 2018 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: This is not a typical medical collections issue- what to do?
Replies: 52
Views: 7640

Re: This is not a typical medical collections issue- what to

Hello, I was hoping you could provide an update on your situation. I was recently contacted by a collections agency for the same exact problem - a supposed unpaid debt from Confirmatrix from 3 years ago. My doctors office is providing no assistance. The collections agency trying to charge me over $...
by Jackson12
Sun May 20, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Adult Children (but not too much)
Replies: 152
Views: 12407

Re: Helping Adult Children (but not too much)

Our daughter graduates college this weekend. She's debt free, owns her 3 year-old car outright, has about $3K in a Roth-IRA plus another $1K in savings and an "okay" (money-wise) job lined up. So she off to a decent start. Until now we've subsidized her through car insurance, mobile phone, grocerie...
by Jackson12
Fri May 18, 2018 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Even though opinions differ in safe withdrawal rate would appreciate feedback with this allocation
Replies: 8
Views: 864

Re: Even though opinions differ in safe withdrawal rate would appreciate feedback with this allocation

hard to answer not knowing what they want in withdrawals each year ? --is the 4% the amount they need ? ages ? Healthcare ? If $120K/year is more than they need and they are older than 60 --they should be fine. Add in the $36K in SS at 70, will help. (Note: $36K SS a year seems low for someone that...
by Jackson12
Fri May 18, 2018 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: Even though opinions differ in safe withdrawal rate would appreciate feedback with this allocation
Replies: 8
Views: 864

Even though opinions differ in safe withdrawal rate would appreciate feedback with this allocation

This post is due to a friends truly asking for input. I’ve been clear that my response will be just that, certainly no expert opinion. They are concerned about whether they could safely use a 3 or 4 percentage withdrawal rate, especially since they’re older and don’t need their assets to last as lon...
by Jackson12
Tue May 15, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: This is not a typical medical collections issue- what to do?
Replies: 52
Views: 7640

Re: This is not a typical medical collections issue- what to do?

Hi I was wondering if you figured out a solution to this issue. I am currently in the same situation with a possible 2000$ affecting my credit. I tried calling the collector and they just want me to pay it. I was hoping you could give me some guidance. Thanks! Is the debt a valid one? If not, you h...
by Jackson12
Fri May 11, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: RMDS, Taxes, Social Security timing
Replies: 16
Views: 1769

Re: RMDS, Taxes, Social Security timing

I think I need to review the variables in light of SSDI options for our child. You’ve clearly researched this in more depth than I have at this point. If you found any resources that helped along the way, we’d appreciate the info. This document was helpful for me to understand the SS rules that det...
by Jackson12
Fri May 11, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: RMDS, Taxes, Social Security timing
Replies: 16
Views: 1769

Re: RMDS, Taxes, Social Security timing

Your response provides food for thought because your situation resembles ours in several ways: 1. We also have a disabled child (technically of adult age but with cognitive and physical impairments). 2. My benefit will be very low due to spending so many years caring for him. 3. Our birth dates mak...
by Jackson12
Fri May 11, 2018 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Please Advise on My/My Spouse’s Social Security Claiming Strategy
Replies: 10
Views: 1296

Re: Please Advise on My/My Spouse’s Social Security Claiming Strategy

I'm not an expert in this area, but I would consider whether your wife would automatically be enrolled in medicare when she started SS. That would presumably limit your HSA deduction to the individual limit (roughly half). I suspect it still makes the most sense for her to claim at FRA, even if the...
by Jackson12
Fri May 11, 2018 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Please Advise on My/My Spouse’s Social Security Claiming Strategy
Replies: 10
Views: 1296

Re: Please Advise on My/My Spouse’s Social Security Claiming Strategy

As you note, due to your birthdates, the rules regarding deemed filing do not apply to you. My spouse and I are in that same group of people. I believe you can do this: 1) Your wife can file for retirement benefits. 2. You use a restricted application and file for your retirement benefit when you re...
by Jackson12
Fri May 11, 2018 7:42 am
Forum: Personal Finance (Not Investing)
Topic: RMDS, Taxes, Social Security timing
Replies: 16
Views: 1769

Re: RMDS, Taxes, Social Security timing

Thanks for all the information. Deferring social security seems to be our best choice. The input from everyone has been very helpful and provided plenty to mull over. I also spoke with a tax advisor friend today who took a look at our projected assets and expenses - now and in retirement- and also ...
by Jackson12
Thu May 10, 2018 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: RMDS, Taxes, Social Security timing
Replies: 16
Views: 1769

Re: RMDS, Taxes, Social Security timing

Thanks for all the information. Deferring social security seems to be our best choice. The input from everyone has been very helpful and provided plenty to mull over. I also spoke with a tax advisor friend today who took a look at our projected assets and expenses - now and in retirement- and also f...
by Jackson12
Thu May 10, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: RMDS, Taxes, Social Security timing
Replies: 16
Views: 1769

RMDS, Taxes, Social Security timing

I get confused when trying to factor in taxes and required minimum distributions (RMDS), and wondering if deferring social security beyond age 66 is the best option for us. Is there an online analyzer program that integrates those into social security filing options? My spouse’s retirement plan has ...
by Jackson12
Sun May 06, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 45
Views: 3513

Re: Long term care insurance

There is still more information needed. You’ve given your ages and described your health habits and noted you have $1.1 million dollars in assets. Are you including your home in your assets? snip 1.1M is in retirement accounts. We own our home (well almost, still owe $50k on it). No other debts. We...
by Jackson12
Sun May 06, 2018 11:37 am
Forum: Investing - Help with Personal Investments
Topic: Where to park $200k portion of portfolio when needed to be used as noted below
Replies: 17
Views: 1791

Re: Where to park $200k portion of portfolio when needed to be used as noted below

And I see that Synchrony is offering 2.35 % for 14 months . Is that typical? https://www.synchronybank.com/banking/cd/?utm_source=Bankrate&utm_medium=Rate%20Table&utm_campaign=CD&utm_content=CB_RT_T_BR_CD_O&?sitecode=CB_RT_T_BR_CD_O I'm sure someone will point out that unless some new source of inc...
by Jackson12
Sun May 06, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to rent as a retiree?
Replies: 83
Views: 8945

Re: Does it make sense to rent as a retiree?

An acquaintance rented a home to a couple for 20 years. Easy tenants, treated the home with care, reliable income for their landlord. Then when the acquaintance grew older and the children left home and retirement loomed, they decided that the rental home was ideal for the next stage of life. Out we...
by Jackson12
Sun May 06, 2018 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 45
Views: 3513

Re: Long term care insurance

A good broker can get an informal offer from many companies. We have a questionnaire that we have completed and then send it to 5 or 6 companies and have a tentative offer in a few days. Care to share the name of that broker? To answer other questions, we have about $1.1M. I'd like to leave money t...
by Jackson12
Sat May 05, 2018 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance
Replies: 45
Views: 3513

Re: Long term care insurance

I'm trying to wrap my brain, and budget, around this. It is expensive, and more troubling the premiums might go up when we get closer to maybe needing it. I'm 60. Smoke and drink. Wife is 66, already had one stroke and now has a pace maker. It appears that makes long term care insurance more expens...
by Jackson12
Sat May 05, 2018 2:45 pm
Forum: Investing - Help with Personal Investments
Topic: Where to park $200k portion of portfolio when needed to be used as noted below
Replies: 17
Views: 1791

Re: Where to park $200k portion of portfolio when needed to be used as noted below

Thanks for all the replies. It’s helped me see possible options instead of letting the money languish in a negligible interest account.
by Jackson12
Fri May 04, 2018 3:38 pm
Forum: Investing - Help with Personal Investments
Topic: Where to park $200k portion of portfolio when needed to be used as noted below
Replies: 17
Views: 1791

Re: Where to park $200k portion of portfolio when needed to be used as noted below

For most or all of the 30 months that it will take to burn through the 200k at your current draw rate, you may actually do better right now with treasuries than with CDs if state income is nontrivial in your bracket (ok very low payroll earnings because of the pre-tax contributions/withholdings, bu...
by Jackson12
Fri May 04, 2018 3:24 pm
Forum: Investing - Help with Personal Investments
Topic: Where to park $200k portion of portfolio when needed to be used as noted below
Replies: 17
Views: 1791

Re: Where to park $200k portion of portfolio when needed to be used as noted below

For most or all of the 30 months that it will take to burn through the 200k at your current draw rate, you may actually do better right now with treasuries than with CDs if state income is nontrivial in your bracket (ok very low payroll earnings because of the pre-tax contributions/withholdings, bu...
by Jackson12
Fri May 04, 2018 12:19 pm
Forum: Investing - Help with Personal Investments
Topic: Where to park $200k portion of portfolio when needed to be used as noted below
Replies: 17
Views: 1791

Where to park $200k portion of portfolio when needed to be used as noted below

We have had a windfall of $200k . The majority of our portfolio was in equity and bond funds, per Boglehead recommendations for a basic 3-4 fund portfolio. 40% is equity funds, 60% in bonds. My spouse is not yet retired. We currently take a monthly draw of $6500 from our portfolio (which is no more ...
by Jackson12
Fri May 04, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

Re: How much should I save or would be available for health care in retirement?

I understand that Medicare has premiums and right now don't have a lot of health issues. I assume I can rely on Medicare, but probably not. ...... I am sure medicare will be around for a long time, but the cost will continue to be based on income. Lower income = lower cost, higher income = be prepa...
by Jackson12
Thu May 03, 2018 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: How much should I save or would be available for health care in retirement?
Replies: 43
Views: 4255

Re: How much should I save or would be available for health care in retirement?

Medicare has a monthly premium. It also has a deductible about $150-$180/year. With traditional Medicare, you also have a 20% copay for almost all covered services (some fully covered services like Flu Vaccines, preventive screenings, etc.). Medicare seems to not cover medications in the hospital w...
by Jackson12
Tue May 01, 2018 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

WoW2012 wrote:
Tue May 01, 2018 8:11 pm
Correct me if I'm wrong, but I'm pretty sure you own the John Hancock "Leading Edge" policy. When I look on the CT website there is no pending rate increase for that policy series.
I don’t own a Leading Edge policy.
by Jackson12
Tue May 01, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

While double checking our policies, I took,a moment to go to our state’s Department of Insurance website and check the history of rate requests and approvals for our specific group of policyholders using the long- term care insurance company information for our state There is a pending request for a...
by Jackson12
Tue May 01, 2018 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

Don't underestimate the cost for home care. My brother had a stroke last year and is receiving home care at a cost of about 12,000 per month. Thankfully his LTC insurance covers about 10,000 of the cost. Thanks for the reminder about home care as well as your personal experience with LTC. Insurance...
by Jackson12
Tue May 01, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

One advisor did suggest we consider dropping one policy so our budget wouldn't be so tight but that comes down to the question : which policy? Wow - unless you really cannot afford the policies that sounds like terrible advice! How strained is your budget? And if the budget is that tight, you likel...
by Jackson12
Mon Apr 30, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

I did want to note that the benefit period is limited to 4 years. But at the current nursing home cost here, we'd use our coverage limits in around before 3 to 3 and 1/2 years- and then have the asset protection. I just noticed there is what is called an " additional stay at home lifetime benefit am...
by Jackson12
Mon Apr 30, 2018 8:42 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

Do your policies have shared benefits? Yes Do your policies have inflation riders? Our benefits increase 3% each year with no increase in premiums so far. Our inflation rider is CPI compound inflation and we’ve had no premium increase so far. As an example, Monthly benefits increased about $200 ( e...
by Jackson12
Mon Apr 30, 2018 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

My spouse and I currently have long-term care coverage of $6428 a month and with current maximum benefits limit of $325,000 each.( 90 day elimination period) . We are in our mid 60s. My spouse will be 66 soon so we don’t expect to use this insurance soon. We pay approximately $5000 a year total for...
by Jackson12
Mon Apr 30, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

Assuming the 6k is per month and not per day, I'd keep it. Not sure I would take the increase, but I'd keep the policies. Best wishes. The increase is still affordable but we don’t see the necessity of paying for it because nursing home costs in our area have not yet increased enough to warrant the...
by Jackson12
Mon Apr 30, 2018 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

Our long-term care policies are state “partnership plans”..which essentially afford dollar for dollar asset protection..up to the limits of insurance coverage .These dollars are “not countable” towards Medicaid asset limits if and when Medicaid would be needed. In other words, if my spouse or I use...
by Jackson12
Mon Apr 30, 2018 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

" our benefits would increase from $6428 per day to $6882 per day " Is this a typo? I have an older policy, with an inflation rider, and my currently limits are about $250/day for a nursing home or $125/day for a long term care facility. I have trouble even imagining a daily benefit in excess of $6...
by Jackson12
Mon Apr 30, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Re: Yet another person wondering: keep long-term care insurance or not?

It seems you’re really asking if you should take the inflation increase with corresponding premium increase. You’ve given several good reasons for keeping at least your current level of coverage. Ie. You need to conserve resources for your special needs son. You have a partnership plan that will pr...
by Jackson12
Mon Apr 30, 2018 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another person wondering: keep long-term care insurance or not?
Replies: 29
Views: 2283

Yet another person wondering: keep long-term care insurance or not?

My spouse and I currently have long-term care coverage of $6428 a month and with current maximum benefits limit of $325,000 each.( 90 day elimination period) . We are in our mid 60s. My spouse will be 66 soon so we don’t expect to use this insurance soon. We pay approximately $5000 a year total for ...
by Jackson12
Fri Apr 27, 2018 5:55 pm
Forum: Investing - Help with Personal Investments
Topic: Help with Retired Parents
Replies: 13
Views: 1612

Re: Help with Retired Parents

You note that they own their own home. Is perhaps larger than they need and worth selling and and downsizing to free up some money? While I have not researched much about the option, I do know a couple who eventually , rather late in life, used a reverse mortgage to supplement income, and never used...
by Jackson12
Thu Apr 26, 2018 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Should have contacted auto insurance rep sooner
Replies: 5
Views: 776

Re: Should have contacted auto insurance rep sooner

Our premiums rose to over $300 a month - 2 cars and ( no accidents for the entire time we’ve had this insurance , 17 years) excellent coverage, etc. A rep did a soft pull on our credit and immediately reduced our rates to $ 161 dollars s month . I was shocked. Should I have been? Credit history is ...
by Jackson12
Thu Apr 26, 2018 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Should have contacted auto insurance rep sooner
Replies: 5
Views: 776

Re: Should have contacted auto insurance rep sooner

I'm not sure I'm following your post. Most folks end up checking around for rates every 2-3 years as prices tend to rise once you have been with the same company for a while Sounds like you were able to get a much lower rate with the same company by calling and asking. And in general, especially if...
by Jackson12
Thu Apr 26, 2018 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: Should have contacted auto insurance rep sooner
Replies: 5
Views: 776

Should have contacted auto insurance rep sooner

Our premiums rose to over $300 a month - 2 cars and ( no accidents for the entire time we’ve had this insurance , 17 years) excellent coverage, etc. A rep did a soft pull on our credit and immediately reduced our rates to $ 161 dollars s month . I was shocked. Should I have been? Now I wish i’d call...
by Jackson12
Tue Apr 24, 2018 6:18 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 3573
Views: 1018449

Re: What Movie Have You Recently Watched?

Molly's Game. Great movie. Jessica Chastain is perfect, as usual. Have to agree, just watched that this weekend. Very entertaining. We watched The Shape of Water last night and while it was enjoyable I'm not sure why it won so many awards. The ending seemed very predictable and rushed. Loved Molly'...
by Jackson12
Tue Apr 24, 2018 5:32 pm
Forum: Personal Consumer Issues
Topic: Do you buy new or used cars?
Replies: 113
Views: 7802

Re: Do you buy new or used cars?

I buy new but I purchased my car in 2003 and it' s doing just fine and is well maintained. It was what I considered a splurge since all the rest were inherited from family members - parents, grandparents, etc. Given the price I paid for it, currently small excise fees, and the fact that I didn't go ...
by Jackson12
Tue Apr 24, 2018 12:32 pm
Forum: Investing - Theory, News & General
Topic: The Three-Fund Portfolio
Replies: 2162
Views: 1348888

Re: The Three-Fund Portfolio vs VBIAX

Roger: This is not the place to have a lengthy discussion about a single balanced index fund (VBIAX) for retirees vs. The Three-Fund Portfolio. There are many variables including the one you mentioned: "The inability to re-balance asset allocations if your goals change from the 60/40 solution." The...
by Jackson12
Thu Apr 19, 2018 4:05 pm
Forum: Investing - Help with Personal Investments
Topic: Are you keeping more in cash?
Replies: 31
Views: 4627

Re: Are you keeping more in cash?

Barring extraordinarily high unexpected expenses, we should be able to delay taking SS until at least 70 and - perhaps even beyond if sequence of return risks necessitate. Why would you delay SS past age 70? You're right. We don't intend to delay SS past age 70. I'm not revising my earlier post so ...