Search found 47 matches

by gorow
Mon Jun 29, 2020 6:58 pm
Forum: Personal Investments
Topic: Sudden Early Retirement Offer - Pension Decision
Replies: 10
Views: 2213

Re: Sudden Early Retirement Offer - Pension Decision

I was faced with a similar situation in late 2018. My pension values were each about 10% smaller than what you show here, and the lump sum was about the same. I was 63 at the time. No COLA. What I had to do was understand my expenses for my planned retirement and then determine how I would manage ca...
by gorow
Thu Jun 04, 2020 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Evaluating lump sum pension offer
Replies: 67
Views: 3550

Re: Evaluating lump sum pension offer

In the "invest the lump sum" scenario, you are treating the amount as capital and looking at the potential return. In the "take as pension" scenario, you are treating more as cash, I believe. At least that is true for me. I considered this the same way as I view SS - an income stream that I will use...
by gorow
Wed Jun 03, 2020 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluating lump sum pension offer
Replies: 67
Views: 3550

Re: Evaluating lump sum pension offer

Faced with this situation 18 months ago, I chose the pension. Some of my peers, affected by the same layoff, chose the lump sum. Here are the principle points of each choice. Lump Sum - could be rolled over into an IRA, and thus have no immediate tax implications. It would, however, be subject to ev...
by gorow
Tue May 05, 2020 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion, and the IRMAA "Cliff"
Replies: 4
Views: 466

Re: Roth Conversion, and the IRMAA "Cliff"

Here is how my scenario has gone (so far). Retired at the end of 2018, age 63. 2018 Income was greater than the IRMAA cliff. Received large severance payment in early 2019. 2019 income with this plus pension was greater than IRMAA cliff. 2020 events Applied for Medicare in mid January (Birthday 4/16...
by gorow
Thu Apr 02, 2020 11:54 am
Forum: Personal Investments
Topic: Does anyone else just not care/worry?
Replies: 139
Views: 9796

Re: Does anyone else just not care/worry?

Retired just 15 months ago, and not worried. I had a stay-the-course mentality since 2004, and it served me well in the meantime.

"Worry is like a rocking chair - it gives you something to do, but it isn't going to get you anywhere." - attributed to many different people.
by gorow
Wed Feb 19, 2020 11:42 am
Forum: Personal Investments
Topic: Small pension, to lump sum or not
Replies: 16
Views: 1340

Re: Small pension, to lump sum or not

One approach is to go to immediateannuities.com and determine what kind of monthly payment you would receive for $80,000. Then you could determine if the monthly offer is better than what you could do on your own. I am in good health and opted to receive the monthly payment as it was about 10% bette...
by gorow
Fri Feb 14, 2020 9:53 pm
Forum: Investing - Theory, News & General
Topic: [Market is acting like late August, 2000, or late October, 2007]
Replies: 82
Views: 7265

Re: It's starting to smell like

Bluce wrote:
Fri Feb 14, 2020 6:04 pm
IT'S GOING TO CRASH! :oops:

We just don't know when. :(
Or not. Maybe fall a bit, but maybe crash. Or maybe not.
by gorow
Thu Jan 30, 2020 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on pension options
Replies: 16
Views: 1410

Re: Need advice on pension options

I had to make a similar decision a year ago. I was not concerned about the financial stability of the company. My pension was not inflation indexed, so I considered it as a fixed income. As it happens it matches my mortgage/property tax annually, so I considered it as a fixed income against a fixed ...
by gorow
Fri Jan 17, 2020 6:49 pm
Forum: Personal Consumer Issues
Topic: strong role model books for 8 YO girl
Replies: 53
Views: 3449

Re: strong role model books for 8 YO girl

I am a big fan of this book: https://www.amazon.com/Strong-New-Pretty-Celebration-Themselves/dp/0761189130/ref=sr_1_1?crid=TM0T0O4KX34C&keywords=strong+is+the+new+pretty&qid=1579304812&sprefix=strong+is+the+new%2Caps%2C235&sr=8-1 Strong is the New Pretty is a photo book with excellent descriptions o...
by gorow
Mon Jan 13, 2020 10:03 am
Forum: Personal Investments
Topic: Is This Market Timing ?
Replies: 20
Views: 983

Re: Is This Market Timing ?

Since you make the argument that keeping your AA constant means it is not market timing, then theoretically, if the drop occurs as you anticipate, you would be more inclined to rebalance your portfolio by buying MORE, not selling at a loss. If your expectation is to take the loss and buy a fund that...
by gorow
Sat Dec 14, 2019 9:49 am
Forum: Personal Consumer Issues
Topic: What are you giving (or asking) for Christmas?
Replies: 77
Views: 5497

Re: What are you giving (or asking) for Christmas?

I am giving my three grown children The Boglehead's Guide to the Three Fund Portfolio. Having recnetly retired, this is part of my way of saying "you can do it if you plan it" and also, I have written instructions if I pre-decease my DW that they are to continue investing her inherited IRA the same ...
by gorow
Sun Nov 10, 2019 3:35 pm
Forum: Personal Investments
Topic: Spend It All vs. Leave $$ for the Kids
Replies: 192
Views: 16483

Re: Spend It All vs. Leave $$ for the Kids

Retired boomer here. I believe if we use 3.3-3.5% withdrawal rate, we will have more than enough for the things we like to do in retirement, and will very likely leave something behind for our 3 self-sustaining adult children. We told them a long time ago that we intend to die broke, but not broke a...
by gorow
Fri Nov 01, 2019 8:00 pm
Forum: Personal Investments
Topic: Do you consider pensions as part of your overall asset allocation?
Replies: 67
Views: 5716

Re: Do you consider pensions as part of your overall asset allocation?

I consider both pensions and social security as income and manage all savings - taxable, tax deferred, tax free - as my collective amount for asset allocation. So no, I don not count pension in my AA.
by gorow
Fri Nov 01, 2019 7:57 pm
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 630
Views: 90295

Re: Flaunt Your High-Mileage Car

Not high mileage, but long term. I bought my 2006 Ford 500 in July of 2006. Most of my travel is in town. at 13+ years it only has 85,000. I will continue to drive it and maintain it for the foreseeable future.
by gorow
Mon Oct 28, 2019 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Help Dad do estate planning math and make adjustments
Replies: 45
Views: 2943

Re: Help Dad do estate planning math and make adjustments

Perhaps Daughter #1 is the one who could solve this by selling the real estate and splitting the proceeds three ways. Then Dad doesn't carry the guilt over the percieved need to make things even.
by gorow
Sat Oct 26, 2019 9:12 pm
Forum: Personal Investments
Topic: Do You Pay For Financial Advice?
Replies: 76
Views: 5208

Re: Do You Pay For Financial Advice?

When Financial Engines was new, and my company offered their services, I used them for a couple of years while I (finally) educated myself on asset allocation. Then I quit them. Two years prior to actually retiring, I paid a fee only advisor to confirm with me that I could retire as planned. Well wo...
by gorow
Wed Oct 16, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Company being acquired - severance strategy?
Replies: 23
Views: 2427

Re: Company being acquired - severance strategy?

Except in cases of severe cutback, when an employer seeks volunteers, companies do not like to pay severance to people who are part of the plan to move the new entity forward. Although you don't like working there, it is a clear sign of your employability. I waited out a similar situation in an acqu...
by gorow
Mon Aug 19, 2019 3:59 pm
Forum: Investing - Theory, News & General
Topic: Vanguard's "Bogle Site" gone, but most material available at johncbogle.com
Replies: 59
Views: 12805

Re: Vanguard's "Bogle Site" gone? Hopefully just a glitch.

At the very least, some notification at the site instead of an error message would indicate good customer service. I guess their stats showed so little visitation that they didn't feel it warranted an explanation?
by gorow
Fri Aug 16, 2019 11:38 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage refinance? Recast?
Replies: 69
Views: 3580

Re: Mortgage refinance? Recast?

I am in a similar situation and going through the same decision process. $460k, 28 yrs remaining, 3.75%. My pension, which is not indexed for inflation, essentially covers the house payment, taxes and insurance costs. So going into it, I have just looked at that as a fixed expense (property taxes wi...
by gorow
Sun May 12, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Pension-Annuity or Lump dilemma
Replies: 12
Views: 1097

Re: Retirement Pension-Annuity or Lump dilemma

My situation was very similar when I retired at the end of 2018. I opted for the annuity with 100% survivor benefit. The reasoning for us was that the monthly payment covers the mortgage, taxes and insurance on our home. We bought just two years ago, and with an interest rate of 3.75% and no COLA on...
by gorow
Fri Apr 12, 2019 11:24 am
Forum: Personal Investments
Topic: Backdoor Roth Bonehead error - now what?
Replies: 1
Views: 400

Backdoor Roth Bonehead error - now what?

Prior to my retirement at the end of 2018, i took an old IRA to which I had been making non-deductible contributions and rolled the tax-deferred portion into my 401k and converted the post tax contributions into a Roth. All correctly reported to the IRS. All good. Then I made a $6500 contribution to...
by gorow
Mon Apr 08, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Calculating Social Security
Replies: 11
Views: 1273

Re: Calculating Social Security

Each additional year of earnings replaces the lowest of the previous thirty-five years. The estimate that if you continue working assumes your lowest few years will be replaced by the years to come, thus raising your benefit vs stopping work now.
by gorow
Sat Apr 06, 2019 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Any reason for younger wife not to file at FRA? When her benefit is much smaller.
Replies: 16
Views: 1255

Re: Any reason for younger wife not to file at FRA? When her benefit is much smaller.

My situation is identical. If I assume that we both will survive well into our 80's, the plan we will follow is that she will take her reduced benefit at age 62 (about $400 vs $600 per month) and when I turn 70 I will take my benefit, and she will take the spousal benefit, which will be about 1/2my ...
by gorow
Fri Apr 05, 2019 9:03 am
Forum: Personal Consumer Issues
Topic: Is there value in conversation/communication books?
Replies: 15
Views: 1081

Re: Is there value in conversation/communication books?

I think Crucial Conversations is very useful, if your intent is to improve your capabilities in this area. As mentioned earlier, when it is forced curriculum for Megacorp, then only those who are actively seeking improvement will find it (or the other books you mentioned) useful. Any book I am requi...
by gorow
Sun Mar 31, 2019 7:08 pm
Forum: Personal Investments
Topic: Transferring retirement account
Replies: 5
Views: 593

Re: Transferring retirement account

My Megacorp 401k was managed through Fidelity, but with a specific set of funds that were not Fidelity. They were low-cost, but not as low cost as Fidelity (or Vanguard for that matter) funds. Within those funds, I was invested in a way to match the three fund portfolio. Shortly after retirement, I ...
by gorow
Sat Mar 23, 2019 8:45 am
Forum: Personal Consumer Issues
Topic: Waiting 1 month before buying anything about $25
Replies: 16
Views: 2141

Re: Waiting 1 month before buying anything about $25

Another method is to change your relationship with stuff. I did a massive purge about a year ago. I'm still in the process of getting rid of stuff, but I literally never buy anything non-essential. I look at my Amazon account and there were like 5 purchases, all consumables. Completely agree. We di...
by gorow
Sun Mar 17, 2019 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 1616
Views: 225673

Re: Fidelity as a one stop shop

He is right. 1 CMA with core as FDIC-CASH and buy SPRXX does same thing where first FDIC-CASH is emptied followed by money market funds to pay bills, checks, ATM etc But you can't hold SPRXX within the CMA, right? So you need a brokerage account to hold that fund, and designate it as the overdraft ...
by gorow
Sun Mar 17, 2019 7:21 pm
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 906
Views: 124113

Re: That's enough for me in 2019

I worked with a couple of guys who would move their full 401k balance into megacorp stock before ex-dividend, and then move back to their AA immediately after. I tried getting them to do the math on how much of a market move would offset the dividend gain (less than 0.75%) but they were convinced t...
by gorow
Sat Mar 16, 2019 8:26 am
Forum: Investing - Theory, News & General
Topic: That's enough for me in 2019
Replies: 906
Views: 124113

Re: That's enough for me in 2019

I worked with a couple of guys who would move their full 401k balance into megacorp stock before ex-dividend, and then move back to their AA immediately after. I tried getting them to do the math on how much of a market move would offset the dividend gain (less than 0.75%) but they were convinced th...
by gorow
Wed Mar 13, 2019 9:22 am
Forum: Personal Finance (Not Investing)
Topic: How many companies have you worked for?
Replies: 125
Views: 8399

Re: How many companies have you worked for?

64 and recently retired. Went to work for megacorp1 right out of college, left them after 4 years for megacorp2 in the same industry. 18 months later recruited back to megacorp1. After 16 years, megacorp1 was acquired by megacorp3. Retired from megacorp3 after working in three different disciplines ...
by gorow
Tue Mar 05, 2019 11:37 pm
Forum: Personal Investments
Topic: Should I offer advice to friend who has entire college fund in PG?
Replies: 28
Views: 2710

Re: Should I offer advice to friend who has entire college fund in PG?

I wouldn't consider P&G a lottery ticket. So much of what they sell is consumer essentials. I think it is relatively safe. It may not go up, or it may take a hit, but I don't think there is potential for a disaster. Unless, some baby chokes on a pamper.
by gorow
Fri Feb 08, 2019 12:35 am
Forum: Personal Finance (Not Investing)
Topic: How to volunteer for layoff?
Replies: 36
Views: 4213

Re: How to volunteer for layoff?

This is so dependent on the corporation involved and how they make decisions. There is the pure voluntary approach, where everyone who volunteers is locked in to accepting the defined severance program. Then there is the hand-raiser, where you can let it be known you would be interested, but the com...
by gorow
Wed Feb 06, 2019 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: Need Help - DW Laid Off and Company wants her back now
Replies: 109
Views: 12529

Re: Need Help - DW Laid Off and Company wants her back now

HR perspective here. First of all, as others have pointed out, she has not been terminated, only notified that she will be and what the severance will be. Given that they have changed their mind, they could choose to do nothing, apologize for the confusion, and let her decide what her own next steps...
by gorow
Fri Jan 11, 2019 10:47 pm
Forum: Personal Investments
Topic: Biggest Investment Mistake
Replies: 248
Views: 25002

Re: Biggest Investment Mistake

cheese_breath wrote:
Fri Jan 11, 2019 8:55 am
Held onto too much of employer's stock too long.
Employer even provided guidance through third party that suggested I should start divesting of options. Still, I waited too long.
by gorow
Wed Dec 26, 2018 5:28 pm
Forum: Investing - Theory, News & General
Topic: What have you learned this year
Replies: 90
Views: 7728

Re: What have your learned this year

Financially: as I hit 50 this year, seeing the market go down 20% I find it harder to buy into stocks for rebalancing reasons. I am doing it, but it makes me quesy. Harder than it was before. As I near retirement in the next ten years I am shocked it is coming up so quickly. Personally: I learned I...
by gorow
Sat Dec 15, 2018 9:07 am
Forum: Personal Investments
Topic: I made a mistake by not selling when the market was high this year
Replies: 165
Views: 23249

Re: I made a mistake by not selling when the market was high this year

And suppose the market suddenly has a strong recovery and move to new highs? Then your mistake no longer was a mistake? It is possible that at the high, your allocation may have been such that called for a re-balance according to your IPS, but if you are thinking that you missed a chance to protect ...
by gorow
Tue Dec 11, 2018 9:11 pm
Forum: Investing - Theory, News & General
Topic: What Happened to you during the Financial crisis of 2007–2008
Replies: 249
Views: 23454

Re: What Happened to you during the Financial crisis of 2007–2008

I was 52 years old, 30 years into my career, my youngest had just graduated high school and my older two were done with college. I was just beginning to think about when I might retire. At the time, I had already accepted that I would stay with my allocation and re-balance, which was a good move, an...
by gorow
Mon Dec 03, 2018 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: Proper way to retire
Replies: 57
Views: 6924

Re: Proper way to retire

There can be several factors involved. If you are pension eligible, then you want to notify enough in advance to assure timely pension payments. At my megacorp, we cannot use vacation to bridge between a last day of work and an effective last day of work. So some may not allow it. If they don't allo...
by gorow
Sat Sep 01, 2018 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo Mortgage Recast
Replies: 4
Views: 6844

Re: Wells Fargo Mortgage Recast

My Wells Fargo mortgage is eligible for recast at any time. Essentially, they recalculate the current balance over the remaining term. If you have been paying down early, then your likely end date has been moving up. With the recast, if you pay only the newly defined payment, you will pay that for t...
by gorow
Mon Jun 18, 2018 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Employer creating new role for my promotion, need help
Replies: 11
Views: 2035

Re: Employer creating new role for my promotion, need help

Add a learning component. "While in this role, the incumbent will be expected to gain expertise in......"
by gorow
Fri Apr 20, 2018 10:30 pm
Forum: Personal Consumer Issues
Topic: How long have you been employed?
Replies: 44
Views: 4067

Re: How long have you been employed?

Yikes! Counting delivery of the Cleveland Press, that puts me at about 50 years. Quitting this year.
by gorow
Mon Feb 19, 2018 7:07 am
Forum: Personal Consumer Issues
Topic: Do you wear a wedding band? [at a job interview]
Replies: 157
Views: 14097

Re: Do you wear a wedding band? [at a job interview]

At age 28 and not married with no ring, I had a job interview where the hiring manager asked "why have you never married"? Not sure if he was trying to sort out the many possible reasons, but I had already decided that I wasn't interested in the job, and since he had told me more about himself than ...
by gorow
Thu Jul 06, 2017 10:02 pm
Forum: Personal Consumer Issues
Topic: Task management / organizing app
Replies: 52
Views: 3407

Re: Task management / organizing app

I use Todoist and like it quite a lot. Basically you would have one account that you both could sign in to. You can create projects that might have sub-tasks under them, or label/group similar items by context or date. It is easy to set due dates and reminders as text messages. I also use recurring ...
by gorow
Tue Jun 27, 2017 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: UPS freezing pensions for non-union
Replies: 6
Views: 2139

Re: UPS freezing pensions for non-union

Agree that in general you shouldn't count on that. But I have had first a "years of service" freeze, and eventually a "total benefit" freeze.In both cases, given adequate notice and adjustment to 401k related benefits. There are some I worked with who felt they had the rug pulled out, but in reality...
by gorow
Thu Mar 23, 2017 6:28 pm
Forum: Personal Investments
Topic: 100% stocks w/pension?
Replies: 40
Views: 6450

Re: 100% stocks w/pension?

Just a couple of thoughts - As noted earlier, you are betting on the pension remaining solvent, and that your career will continue in a way that you will be there to realize the full value. As you get closer to actually realizing the pension as income, then the 100% makes sense. Somewhere in between...
by gorow
Thu Feb 02, 2017 7:38 am
Forum: Personal Investments
Topic: How do you guys ignore this stuff?
Replies: 80
Views: 11130

Re: How do you guys ignore this stuff?

You will need an equally "reliable" source to inform you when to get back in. :shock:
by gorow
Wed Jan 11, 2017 2:15 pm
Forum: Investing - Theory, News & General
Topic: 2017 Boglehead Contest Charts
Replies: 11
Views: 2077

Re: 2017 Boglehead Contest Charts

Is that bearish percentage for the last three years correct? Seems like it should be about 33% for this year.