Search found 125 matches

by eldinerocheapo
Thu May 28, 2020 9:14 am
Forum: Personal Investments
Topic: Fund Roth or convert TIRA? Or do both?
Replies: 4
Views: 167

Fund Roth or convert TIRA? Or do both?

Hi, I'm retired while my wife still works, primarily for health benefits until she turns 65. (She's 60 now, I'm 62). No SS yet, and we've funded our Roth IRAs to the $7k max for several years now. Would you keep funding at this $14k annual level, or use some of the funds to help convert a TIRA to a ...
by eldinerocheapo
Sat May 23, 2020 9:27 am
Forum: Investing - Theory, News & General
Topic: Ally lowers APR on savings from 1.5% to 1.25%
Replies: 68
Views: 7914

Re: Ally lowers APR on savings from 1.5% to 1.25%

I'm cashing in on my savings account to pay last year's taxes, this year's estimated taxes, and paying the tax on Roth conversions from my TIRA accounts. This will take up a good chunk, and then I'll do the same with cd's as they mature. We'll hopefully remain in the 12% tax bracket as a result.
by eldinerocheapo
Tue May 19, 2020 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Opinion on Relocating from IL to FL Central Gulf Coast Condo
Replies: 35
Views: 2557

Re: Opinion on Relocating from IL to FL Condo

Where in Fla do you plan to relocate? I volunteered at a crisis intervention center in S Fla, and many calls came from transplants from the Midwest who missed friends and family back home, and were totally unprepared for the reality of hot weather, hurricanes, and rude condo neighbors from NE states...
by eldinerocheapo
Mon May 11, 2020 7:06 am
Forum: Investing - Theory, News & General
Topic: Jack Bogle....The Legacy Less Traveled.
Replies: 18
Views: 2801

Re: Jack Bogle....The Legacy Less Traveled.

Thanks for posting this inspiring message and reaffirming our goals and outlook on this site. It's a real boost that is needed during this uncertain time.
by eldinerocheapo
Mon May 11, 2020 6:42 am
Forum: Investing - Theory, News & General
Topic: At what moment does retirement begin?
Replies: 68
Views: 5458

Re: At what moment does retirement begin?

Mine began when I turned in all my company equipment, thanked my manager for his friendship and support, then walked through a gauntlet of handshakes, hugs, and tears of my co workers as my wife waited outside to drive us away. We later sat in a quiet corner of a beer garden and took congratulatory ...
by eldinerocheapo
Sun May 10, 2020 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 226
Views: 43286

Re: Cash - Throw it all on the table!!!

Cash $300 in BOA checking $48k in ally MM $330k in 21 staggered CD's with one maturing every month. Why? I don't really know, but it seemed like a good idea at the time. It also helps us sleep at night knowing this is available for emergencies, funding future Roth IRA's, and a hiking trip somewhere ...
by eldinerocheapo
Sat May 09, 2020 9:42 am
Forum: Personal Investments
Topic: College age kid wrecked his car...
Replies: 113
Views: 6044

Re: College age kid wrecked his car...

Was there no collision coverage on his vehicle? With assets like these, I would think that and umbrella coverage would be in place. Having said that, I'd compromise and get a lower priced used vehicle to ensure your son has all the tools he needs to succeed during these formative years. This will fr...
by eldinerocheapo
Mon Apr 27, 2020 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Another 15 vs. 30 year mortgage toss up
Replies: 59
Views: 3806

Re: Another 15 vs. 30 year mortgage toss up

Go with a 15 year. Imagine all the extra dough you'll be able to invest, and take care of your family with after the mortgage is paid off.
by eldinerocheapo
Mon Apr 27, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Car Dealers not really wanting to make a deal
Replies: 226
Views: 31077

Re: Car Dealers not really wanting to make a deal

Might I suggest focusing on a 2019 model closeout? We negotiated a tremendous deal with one dealer, when three other dealers informed us the price quoted was bogus. Prior to closing the deal, I advised that I was bringing one pre filled check , and there would be no room for add ons, hidden charges,...
by eldinerocheapo
Fri Apr 24, 2020 6:35 am
Forum: Investing - Theory, News & General
Topic: [Jim Cramer] "Stop Buying Index Funds"
Replies: 37
Views: 6033

Re: [Jim Cramer] "Stop Buying Index Funds"

We listen to Cramer's short monologue nightly to gain his impression of the day's financial events. We then change the channel before he lobs the Barbara Walters softball questions to each guest hawking their company's stock afterward.
by eldinerocheapo
Mon Apr 20, 2020 7:57 am
Forum: Personal Investments
Topic: I'm out [of the market]
Replies: 109
Views: 11839

Re: I'm out [of the market]

Since the OP has won the game, I'd suggest he structure his life around the greatest commodity of all..........time. Travel, spoil the grandchildren, and enjoy a round of really bad golf once in a while. His only concern should be for his health, and the passage of time he has left to enjoy life. I ...
by eldinerocheapo
Mon Apr 20, 2020 7:43 am
Forum: Personal Investments
Topic: Freaked Out/Sold during Pandemic
Replies: 33
Views: 3631

Re: Freaked Out/Sold during Pandemic

I was down $380k and have recovered all but $140k of it. Never sold or rebalanced. Get back in with an AA and dollar amount you can live with and allows for a good night's sleep.
by eldinerocheapo
Thu Apr 16, 2020 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: How many paid for kids' college?
Replies: 282
Views: 13464

Re: How many paid for kids' college?

We paid for tuition, cars, and down payment on their homes. Both DW and I lived below the poverty level when we met and were determined to make a good life for our family. We didn't want them to deal with the things we had to. Each is successful, and happily married to good people. Can't ask for muc...
by eldinerocheapo
Thu Apr 16, 2020 4:53 pm
Forum: Investing - Theory, News & General
Topic: Retirees: what are you doing with all the home equity?
Replies: 117
Views: 7431

Re: Retirees: what are you doing with all the home equity?

Nada, got too many other things to worry about.
by eldinerocheapo
Mon Apr 13, 2020 6:53 am
Forum: Investing - Theory, News & General
Topic: How long after starting investing, did you start to be happy about the power of compounding?
Replies: 92
Views: 6072

Re: How long after starting investing, did you start to be happy about the power of compounding?

I'd say about five years after starting my 401k and TIRA. It felt like I was swimming upstream and the returns were anemic, and I was getting nowhere. When I hit 100k and began comparing the growth and dividends within my fund, only then did I realize this thing had a life of it's own. So, when it b...
by eldinerocheapo
Sun Apr 12, 2020 11:05 am
Forum: Personal Investments
Topic: Best Savings Account/Deposit Bonus Right Now
Replies: 10
Views: 1439

Re: Best Savings Account/Deposit Bonus Right Now

I second the comments on Ally bank. So far, about 8 years of hassle free online banking. Also, dig into their cd rates and you may run across their Select c/d's which offer higher rates for 13 to 15 months. They are generally about .15% higher than advertised on 12 mo cd's. Why, I don't know, but we...
by eldinerocheapo
Sun Apr 12, 2020 10:54 am
Forum: Personal Investments
Topic: Your withdrawal plan
Replies: 13
Views: 773

Re: Your withdrawal plan

We believe in layered withdrawals, so for example, our monthly fixed expenses are met as follows.......... Wife's p/t paycheck, appx $2k per month, all spent. TIRA withdrawal from my account, $680 net, usually all spent MM transfer to cover any shortfalls, $0 to $800 per month as needed. CD maturity...
by eldinerocheapo
Sun Apr 12, 2020 5:48 am
Forum: Personal Finance (Not Investing)
Topic: How often do you login and review your investment accounts?
Replies: 68
Views: 2404

Re: How often do you login and review your investment accounts?

BOA account, daily
Ally MM & CD acct. 2-3x a week
VG accts and statement 2x a week.
by eldinerocheapo
Sat Apr 11, 2020 8:53 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payoff - Am I crazy?
Replies: 81
Views: 5445

Re: Mortgage payoff - Am I crazy?

Yes, borrow from your 401K, but guess what happens when you lose your job? The 401K loan is due and payable within 60 days - try paying that back when you have no job and your emergency fund is 3-6 months or less. Nope, taking a 401K loan to pay off your mortgage is the worse thing to do, especiall...
by eldinerocheapo
Fri Apr 10, 2020 8:15 am
Forum: Personal Consumer Issues
Topic: How do you maximize enjoyment after achieving FI?
Replies: 161
Views: 8469

Re: How do you maximize enjoyment after achieving FI?

Turn on your TV and look at all of the local and national relief organizations that are stretched thin by the current pandemic in our country. What you give, you will receive back ten fold, and will gain a warmness in your heart for those who are struggling and less fortunate. The USA is the most ge...
by eldinerocheapo
Fri Apr 10, 2020 8:06 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage payoff - Am I crazy?
Replies: 81
Views: 5445

Re: Mortgage payoff - Am I crazy?

We've paid off two mortgages via borrowing from my 401k and then paying the loan with interest back to ourselves. We know this flies in the face of conventional wisdom. Family members said we were missing out on the returns stocks provide, but we strongly believe in being debt free whenever possible...
by eldinerocheapo
Thu Apr 09, 2020 7:42 am
Forum: Personal Investments
Topic: How often do you add money to stock market?
Replies: 48
Views: 3352

Re: How often do you add money to stock market?

Quarterly via dividends. End of the year via Long & Short term capital gain distributions. Once or twice a year at random for Roth IRA contributions for myself & spouse. I look for the lows prior to pulling the trigger on the Roth IRA.
by eldinerocheapo
Mon Apr 06, 2020 3:36 pm
Forum: Personal Investments
Topic: Layered Emergency Fund
Replies: 30
Views: 2418

Re: Layered Emergency Fund

Yes we also use the cash back credit card. I think we selected online shopping as our extra bonus. Amen, we use the BOA CC for nearly every purchase, and seldom use cash, hence a $300 balance in our checking account. We pay our bills the very day each direct deposit takes place so the money is out ...
by eldinerocheapo
Mon Apr 06, 2020 11:17 am
Forum: Personal Investments
Topic: Share what worked in your plan during the crisis
Replies: 103
Views: 6964

Re: Share what worked in your plan during the crisis

Reduced TIRA distribution by 66%, from $3k per mo. to $1k Started pulling EF's from MM and cashed out one of twenty cd's for $15k. This is good for (you guessed it) twenty years. Reviewed DW's paycheck and closed gym membership through work (they are closed anyway), and reduced her 401k to 6%. Savi...
by eldinerocheapo
Mon Apr 06, 2020 11:09 am
Forum: Personal Investments
Topic: Layered Emergency Fund
Replies: 30
Views: 2418

Re: Layered Emergency Fund

After meeting fixed expenses monthly, we keep $300 in our checking account, two years expenses in an Ally MM, and then ten years of expenses in Ally 12 mo cd's. Each can fund and flow to the other as needed without concern over penalties. Wow. I'd be afraid of overdrafts with only $300. We keep a f...
by eldinerocheapo
Mon Apr 06, 2020 10:08 am
Forum: Personal Investments
Topic: Layered Emergency Fund
Replies: 30
Views: 2418

Re: Layered Emergency Fund

After meeting fixed expenses monthly, we keep $300 in our checking account, two years expenses in an Ally MM, and then ten years of expenses in Ally 12 mo cd's. Each can fund and flow to the other as needed without concern over penalties.
by eldinerocheapo
Mon Apr 06, 2020 9:43 am
Forum: Personal Finance (Not Investing)
Topic: How Much in Your Emergency Fund And Is It Used?
Replies: 263
Views: 41404

Re: How Much in Your Emergency Fund And Is It Used?

$300 in bank, $44k in mm accessible daily, $340k in 20 12mo cd's with various expiration dates. Don't know what possessed us to do this in such a booming market (pre FEB 2020) but it seemed like a good idea to keep a large amount of cash on hand. Pulling about $1k in cash from the MM monthly, and wi...
by eldinerocheapo
Sun Apr 05, 2020 9:12 am
Forum: Personal Investments
Topic: Share what worked in your plan during the crisis
Replies: 103
Views: 6964

Re: Share what worked in your plan during the crisis

Reduced TIRA distribution by 66%, from $3k per mo. to $1k Started pulling EF's from MM and cashed out one of twenty cd's for $15k. This is good for (you guessed it) twenty years. Reviewed DW's paycheck and closed gym membership through work (they are closed anyway), and reduced her 401k to 6%. Savin...
by eldinerocheapo
Thu Apr 02, 2020 9:53 am
Forum: Personal Investments
Topic: Does anyone else just not care/worry?
Replies: 139
Views: 9623

Re: Does anyone else just not care/worry?

There comes a time when the health and safety of your family and friends is more important than anything else happening in the world. We are there, and I pray for everyone affected by this disaster. DW is an RN and we are self quarantining from our grandchildren until the coast is clear, but are abl...
by eldinerocheapo
Sun Mar 29, 2020 3:06 pm
Forum: Investing - Theory, News & General
Topic: I won the game but kept playing
Replies: 133
Views: 11715

Re: I won the game but kept playing

Nearly everyone here has taken it in the shorts, big time. We're 60/40 but still have losses nearing $500k. To compensate, we're only using the TIRA to offset any expenses over DW's earnings of $2.5k per month. This amount is around $1k per month until things improve, and can be matched by savings f...
by eldinerocheapo
Sun Mar 29, 2020 2:39 pm
Forum: Personal Investments
Topic: Share what worked in your plan during the crisis
Replies: 103
Views: 6964

Re: Share what worked in your plan during the crisis

What's working in our plan during this crisis?

Single Malt Scotch...........lots of it!
by eldinerocheapo
Sun Mar 29, 2020 2:31 pm
Forum: Personal Investments
Topic: 60/40 is dead?
Replies: 25
Views: 3299

Re: 60/40 is dead?

My 40% bond allocation in my TIRA is yielding about 2.3% and I'm only drawing 1.5% in distributions from the entire fund. We also have three other IRA accounts that will remain untouched until RMD considerations emerge. Given the current economic climate and my age (62), why would I change?
by eldinerocheapo
Wed Mar 25, 2020 3:52 pm
Forum: Personal Investments
Topic: CD Laddering where
Replies: 18
Views: 1066

Re: CD Laddering where

We've been with Ally for about six years now and have laddered cd's from one to five years with some pretty good rates. They offer Select 13 month cd's once in awhile, and these are generally half a percent higher than the 1yr cd's. Easy to transfer funds between them and BOA with the MM too. I'm pl...
by eldinerocheapo
Sun Mar 22, 2020 11:27 am
Forum: Personal Investments
Topic: Get out now or ride it out?
Replies: 85
Views: 7026

Re: Get out now or ride it out?

I'm three years older than the poster, and retired. We're in Wellington Admiral, and here's where things stand. Down 22% ytd Reinvested 1st Q 2020 dividend around $58 a share, down from $76. Taking $1k in distributions per month, down from $3k last month Cashing in and using one of twenty 12mo CD's ...
by eldinerocheapo
Fri Mar 20, 2020 8:11 am
Forum: Personal Investments
Topic: I knew this was going to happen and did nothing...
Replies: 107
Views: 9839

Re: I knew this was going to happen and did nothing...

I wish I had a crystal ball too. But given the mercurial nature of the markets and potential extreme fluctuations in even "all weather" stable funds, each of us needs to decide and test our own level of market risk. It's only then that we know how much risk we're willing to take and still get a good...
by eldinerocheapo
Fri Mar 20, 2020 7:53 am
Forum: Personal Investments
Topic: Unprepared for Potential Great Depression Part 2
Replies: 244
Views: 22813

Re: Unprepared for Potential Great Depression Part 2

This is where the Bogle maxims of "stay the course", and invest for the long term meet the reality of current market and world conditions. I'd be lying if I didn't say I've lost sleep over this. Having been in the market for over 35 years, I'm reminded of bear markets that allowed great opportunity ...
by eldinerocheapo
Fri Mar 20, 2020 7:28 am
Forum: Personal Investments
Topic: Anyone (now) regret choosing a lump sum vs. annuity option?
Replies: 16
Views: 1255

Re: Anyone (now) regret choosing a lump sum vs. annuity option?

I agonized over this decision six years ago, and chose to roll the lump sum to my TIRA. It has more than doubled in value, and is now down some 20%, so we're still ahead of the game. Yes, the losses hurt and are a source of concern, but we try to look forward long term and diversify between three ot...
by eldinerocheapo
Tue Feb 04, 2020 9:00 am
Forum: Personal Investments
Topic: Moving pension money to Roth IRA?
Replies: 8
Views: 913

Re: Moving pension money to Roth IRA?

I was presented with the same option last month by my previous employer after I retired. The roll over to a Roth would've resulted in some $30k in witholding and add an additional $200k to our projected income of $70k this year. Being near the top of the market, the taxes would kill us, and I reason...
by eldinerocheapo
Sun Feb 02, 2020 9:45 am
Forum: Investing - Theory, News & General
Topic: Why many inheritances don't last past 3 generations
Replies: 144
Views: 17861

Re: Why many inheritances don't last past 3 generations

As an example of why this occurs, my wife worked for a longstanding family run business where the two kids came in at 10am, left for lunch at noon, then called it a day around 3pm, every day. When the parents retired, my wife quit, and these two captains of industry managed to run the business into ...
by eldinerocheapo
Thu Jan 23, 2020 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire at 55?
Replies: 24
Views: 6518

Re: Can I retire at 55?

Awww, look at them fur babies. No matter what your financial situation, I'd say you already won the race. Between the farm and your pets, I'd say your priorities are in place for a very happy retirement. Good for you, and I hope all goes well.
by eldinerocheapo
Thu Jan 09, 2020 9:55 am
Forum: Investing - Theory, News & General
Topic: What do you guys think about a career in insurance sales?
Replies: 80
Views: 5621

Re: What do you guys think about a career in insurance sales?

Been there, done that. Took my degree in Risk Mgmt & Insurance and entered the industry as an underwriter in my early 20's. Alot of agents I worked with said I'd be a natural salesman as did many end user clients. Well, after 50 cold calls a day, maybe 20 applications a week, and one signed up clien...
by eldinerocheapo
Sat Jan 04, 2020 6:57 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 427
Views: 69194

Re: Roll Call for the Retirement Class of 2019!

Well, it's been several days, and I'm lining up accounts to begin meeting retirement expenses for the long haul. Luckily, my DW will work a few more years for the medical so we have a lot of bases covered. I know people retire every day, but I had no idea how emotional it would get with staff and fe...
by eldinerocheapo
Fri Aug 23, 2019 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Manager is Interviewing Candidates (External) before Job is posted
Replies: 57
Views: 6016

Re: Manager is Interviewing Candidates (External) before Job is posted

Probably everyone in the corporate world has seen this at some point in their career. This tells me your manager doesn't think anyone in your office is qualified, and he doesn't care if you know about it. I'd dust off my resume and shop around because going over his head with this is the "kiss of de...
by eldinerocheapo
Fri Jul 26, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Type of insurance needed.
Replies: 2
Views: 398

Re: Type of insurance needed.

What little I remember from school regarding a condo type of coverage was known as an HO-6 policy that covered contents and fixtures in the unit. It also provides liability limits. You can secure a floater policy for jewelry and expensive items that have $ limits on the policy. A local agent near yo...
by eldinerocheapo
Fri Jul 12, 2019 4:49 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 427
Views: 69194

Re: Roll Call for the Retirement Class of 2019!

I gave notice today that after 40 years in "upper mid level lower management", I'm calling it a career December 30th. Breaking the news to my staff just about killed me, and their tears tore a hole in my soul. I know its the right thing to do because my skill set no longer matches the requirements f...
by eldinerocheapo
Fri Jun 28, 2019 2:51 am
Forum: Personal Investments
Topic: Company paying our Pension/ Retirement
Replies: 26
Views: 2065

Re: Company paying our Pension/ Retirement

I was in your shoes with nearly the same figures five years ago. We opted for the TIRA rollover and have enjoyed high single digit returns ever since. This will keep growing tax deferred until your ready to pull out funds, and will be available for your wife and heirs when the time comes. An annuity...
by eldinerocheapo
Mon Jun 17, 2019 12:50 pm
Forum: Investing - Theory, News & General
Topic: How safe are pensions in the U.S.?
Replies: 87
Views: 10297

Re: How safe are pensions in the U.S.?

My old company got spun off and absorbed by another buyer for the second time in 10 years. This was after two sets of layoffs. Those of us left noticed that the officers got a huge golden parachutes while everyone else got a [raw deal -- moderator oldcomputerguy] . The old company offered a pension ...
by eldinerocheapo
Fri Jun 14, 2019 6:30 am
Forum: Investing - Theory, News & General
Topic: How Bad was 2008, really?
Replies: 355
Views: 45478

Re: How Bad was 2008, really?

Our retirement accounts went down about 40% for a $300k loss on paper. House value down about 20%. Had significant layoffs at work, with a lot of uncertainty about the future. In a fit of insanity, we doubled down to 20% on our 401k contributions, and ramped up Roth IRA amounts thinking the worst wo...
by eldinerocheapo
Sat Jun 08, 2019 4:08 pm
Forum: Investing - Theory, News & General
Topic: Best day of the month to invest?
Replies: 41
Views: 5068

Re: Best day of the month to invest?

Bi weekly in your 401k contribution.
by eldinerocheapo
Thu Jun 06, 2019 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Failed land investments and what to do with it?
Replies: 139
Views: 10252

Re: Failed land investments and what to do with it?

You are young, stuff happens. Learn from this and reflect on it often as your investing life progresses. If the property means that much to you, keep one parcel, then sell the rest. You bought them for a reason, and maybe keeping one is part of an overall diversification plan. If nothing else, you h...