Search found 985 matches

by smitcat
Mon Feb 19, 2018 1:23 pm
Forum: Investing - Theory, News & General
Topic: How many of you use the "4% rule" during retirement?
Replies: 56
Views: 6653

Re: How many of you use the "4% rule" during retirement?

I'm with David Jay. I'm not sure what that means, I don't think I wrote of my preference in this thread. I prefer a fixed percentage (5%?) of remaining portfolio (from Merriman's research). Easy. No inflation calculations (CPI-U? CPI-W?). If there is cognitive decline I can ask my daughter to multi...
by smitcat
Sun Feb 18, 2018 6:29 pm
Forum: Personal Consumer Issues
Topic: Do you wear a wedding band? [at a job interview]
Replies: 125
Views: 6740

Re: Do you wear a wedding band?

I have not worn mine the past 30+ years.
by smitcat
Fri Feb 16, 2018 5:08 pm
Forum: Investing - Theory, News & General
Topic: GLWB annuities
Replies: 0
Views: 162

GLWB annuities

Is it really best to take income from a GLWB annuity as soon as possible (eligible)?
This article says that it is just curious if everyone agrees....

https://www.kitces.com/blog/why-it-rare ... ase-study/
by smitcat
Thu Feb 15, 2018 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Rant about relocation mortgage assistance, and a question
Replies: 54
Views: 2953

Re: Rant about relocation mortgage assistance, and a question

Wow. I am kinda surprised you are moving. From your previous posts I thought you were at your current spot for the long count. I guess the new job must be fantastic for your wife and a good challenge. Regarding the home. I do not think you should buy a big expensive home at this new location. Yes I...
by smitcat
Wed Feb 14, 2018 1:31 pm
Forum: Investing - Theory, News & General
Topic: annuity vs. decumulation: apples to apples comparisons?
Replies: 26
Views: 1934

Re: annuity vs. decumulation: apples to apples comparisons?

I answered my own question. I went to immediateannuities.com and for a 65 year old male with a 60 year old spouse and a CPI cola rider the payout is 3.2% for a payment that extends to the longest surviving spouse. And, without the spouse payout is 4.38%. So I guess that does kind of answer my origi...
by smitcat
Wed Feb 14, 2018 7:57 am
Forum: Investing - Theory, News & General
Topic: annuity vs. decumulation: apples to apples comparisons?
Replies: 26
Views: 1934

Re: annuity vs. decumulation: apples to apples comparisons?

I answered my own question. I went to immediateannuities.com and for a 65 year old male with a 60 year old spouse and a CPI cola rider the payout is 3.2% for a payment that extends to the longest surviving spouse. And, without the spouse payout is 4.38%. So I guess that does kind of answer my origi...
by smitcat
Tue Feb 13, 2018 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 6405

Re: Should I claim chapter 7 bankruptcy? debt 110k

If you read the past posts of "Stock investor' it becomes clear that this is not the first risky trade he has made.
A list or risky trades, no earned income for years and hints about payments for unknown reasons does not a pretty picture paint.
by smitcat
Tue Feb 13, 2018 3:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help me NOT pay for a financial planner!
Replies: 15
Views: 1726

Re: Help me NOT pay for a financial planner!

My spouse has set up a meeting (no cost for the initial meeting) with a financial (really retirement) planner. I don’t think we need it (I have Bogleheads!) Here are the particulars of our situation that we plan to discuss: Ages Me: 47 later this year Spouse: 49 Children: Ages 14 and 11 Desired age...
by smitcat
Tue Feb 13, 2018 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Disney visit
Replies: 28
Views: 3451

Re: Disney visit

We have done both. Staying onsite was well worth the premium price. We chose a moderately priced Disney hotel and would do it again over staying offsite. We did not purchase the dining plan. It was the right choice since we found ourselves splitting many meals, especially quick service. We saved mo...
by smitcat
Mon Feb 12, 2018 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Help me NOT pay for a financial planner!
Replies: 15
Views: 1726

Re: Help me NOT pay for a financial planner!

My spouse has set up a meeting (no cost for the initial meeting) with a financial (really retirement) planner. I don’t think we need it (I have Bogleheads!) Here are the particulars of our situation that we plan to discuss: Ages Me: 47 later this year Spouse: 49 Children: Ages 14 and 11 Desired age...
by smitcat
Sat Feb 10, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by smitcat
Fri Feb 09, 2018 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: 4% rule and early retirement?
Replies: 69
Views: 8212

Re: 4% rule and early retirement?

If not looking at the past, on what do you base your 3-3.5% ? Yep, that's the question and you might not like my answer, but here goes. I'm triangulating into it, looking at the future like this: 1. I believe my grandparents, parents and I have lived during a Golden Age in America. Sure, we had war...
by smitcat
Fri Feb 09, 2018 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by smitcat
Fri Feb 09, 2018 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Worried about employer not paying all I am owed
Replies: 29
Views: 2508

Re: Worried about employer not paying all I am owed

Thanks for the additional thoughts! The community is bringing up many things I hadn't considered. I know that medical insurance premiums have been paid because I successfully fill prescriptions every month using insurance benefits. My paycheck stub indicates that federal income taxes have been with...
by smitcat
Thu Feb 08, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

While spending is more theoretically accurate it is harder to define than salary. Does it include taxes, which is should but to your point will likely go down etc. I’m not sure everybody knows what their spending number is. As much as I track finances investments etc I did not have a highly accurat...
by smitcat
Thu Feb 08, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

Ok sorry I misunderstood. I will say that a dual income couple will probably spend more than a single income couple as a function of habit and standard of living. I know we spend a lot more than many on here partly because we have 2 incomes and we can. Just turning that spending off is a lot harder...
by smitcat
Thu Feb 08, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

I think where the chart breaks down is at higher income levels, and in particular, dual income households. Dual income households do not need more money in retirement than single income households, y et, according to the chart, they need to have way more saved up. I would say this is only half true...
by smitcat
Thu Feb 08, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

I would say this is only half true at best. While housing may be scalable, food to some degree, Medical expenses are not scalable. Most likely you will want 2 cars vs one. Day to day discretionary mostly increases proportionately. JBTX, I'm sorry if I wasn't clear. I'm not talking one person versus...
by smitcat
Thu Feb 08, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

I think where the chart breaks down is at higher income levels, and in particular, dual income households. Dual income households do not need more money in retirement than single income households, y et, according to the chart, they need to have way more saved up. I would say this is only half true...
by smitcat
Thu Feb 08, 2018 1:56 pm
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4092

Re: Who has had a pool?

People that are saying under $200 a year in chemical costs are delusional, or have kiddie pools. Or we just understand how to maintain a pool? Or you have greatly different sized pools in different areas of the country made or differing materials. One size does not fit all with these answers.
by smitcat
Thu Feb 08, 2018 11:47 am
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4092

Re: Who has had a pool?

We just moved in to our new house with an unground pool. It was a little overwhelming at first because I had never owned one but gotten more comfortable and knowledgeable in terms of daily/weekly maintenances. Trouble free pool.com or TFP is a great resource. I ended up using the bleach instead of ...
by smitcat
Thu Feb 08, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

While I am sure using multiples of salaries works for many folks I find it pretty far off. Using multiples of expenses is a valued best metric for us anyway. Not in disagreement with you on that. The multiples of expenses eventually provides the clearest view. The road map version, or path along th...
by smitcat
Thu Feb 08, 2018 8:55 am
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4092

Re: Who has had a pool?

We have an inground pool with heater decks etc - came with the house. It was used often for about 3 years when our daughter was young but before she started many other 'activities'. Since then the pool gets used maybe 2-3 time a year and for a short period of time when it does get used. All in all i...
by smitcat
Wed Feb 07, 2018 12:47 pm
Forum: Investing - Theory, News & General
Topic: Why should we care about inflation?
Replies: 58
Views: 4998

Re: Why should we care about inflation?

"my response is... who cares?"
Some do more than others....
- inflation does not always yield raises that are commensurate
- Inflation removes much value from many pensions
- inflation erodes most annuities
by smitcat
Wed Feb 07, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12159

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by smitcat
Wed Feb 07, 2018 8:22 am
Forum: Investing - Help with Personal Investments
Topic: variable annuity or CDs in parents IRA
Replies: 16
Views: 794

Re: variable annuity or CDs in parents IRA

"All compare favorably to a 3.5-4% SWR in a S/B 60/40" Typically the SWR of 3.5-4% is speaking about a rate which is adjusted each year for inflation. The annuities noted here are not inflation adjusted. tis true. OP's parents have Income in excess of their requirements. CD's won't keep up with inf...
by smitcat
Tue Feb 06, 2018 10:02 pm
Forum: Investing - Help with Personal Investments
Topic: variable annuity or CDs in parents IRA
Replies: 16
Views: 794

Re: variable annuity or CDs in parents IRA

"All compare favorably to a 3.5-4% SWR in a S/B 60/40"

Typically the SWR of 3.5-4% is speaking about a rate which is adjusted each year for inflation.
The annuities noted here are not inflation adjusted.
by smitcat
Tue Feb 06, 2018 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Recently divorced trying to clear all of my credit card debt.
Replies: 46
Views: 2953

Re: Recently divorced trying to clear all of my credit card debt.

If you have credit card loan which carries 15%~16% interest, you would have cut entertaining expense, life insurance or even stop contribute retirement (just contribute enough to get the match). If you company offer Roth 401k, you should get it depend on your tax bracket. The CC payment is like 15%...
by smitcat
Tue Feb 06, 2018 11:22 am
Forum: Personal Consumer Issues
Topic: home security against burglaries
Replies: 11
Views: 1020

Re: home security against burglaries

"I wonder if anything else can really even be done, save barring up all of the first floor windows. Does video surveillance even make a difference? Any other suggestions?" 1. very loud alarm that is not easily defeated 2. home that is not as attractive as others (less items visible) 3. items of valu...
by smitcat
Mon Feb 05, 2018 3:55 pm
Forum: Investing - Theory, News & General
Topic: A Simple and Safe Retirement Income Strategy that beats many others
Replies: 14
Views: 2756

Re: A Simple and Safe Retirement Income Strategy that beats many others

...if possible, they shouldn’t start Social Security benefits or begin withdrawing from savings to pay for living expenses... This makes me chortle. So how does one live for those intervening years? They should just have said "work until you're 70" A good approach is to spend down some of your tax ...
by smitcat
Mon Feb 05, 2018 10:19 am
Forum: Personal Consumer Issues
Topic: For BHs who actually like cars - [what car do you drive every day?]
Replies: 260
Views: 14264

Re: For BHs who actually like cars - [what car do you drive every day?]

No car here. I live in NYC so my car was an unnecessary expense and I sold it two years ago. I couldn't be happier walking and taking public transit. If I ever need a car I just rent one or just use one of the several car sharing services. With all the walking I do now I am healthier and saving ton...
by smitcat
Sat Feb 03, 2018 3:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do you live on a budget?
Replies: 65
Views: 3355

Re: Do you live on a budget?

I have never lived on a budget and being recently retired I don't even try. We spend far less than any SWR theory would allow. 'cest la vie. How about you? Some would say that since you carefully analyzed your potential SWR and always know you are well below that level that you are in fact within a...
by smitcat
Sat Feb 03, 2018 9:42 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6661

Re: How to think about your house from a financial perspective

We have moved through 4 primary homes over near 40 years now in relatively the same area. Our home has been a great investment for many reason including appreciation, cost (rent) control , tax write-off and for many years a tool for utilizing inflation through the mortgage. Our current home is abou...
by smitcat
Sat Feb 03, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Do you live on a budget?
Replies: 65
Views: 3355

Re: Do you live on a budget?

I have never lived on a budget and being recently retired I don't even try. We spend far less than any SWR theory would allow. 'cest la vie. How about you? Somew would say that since you carefully analyzed your potential SWR and always know you are well below that level that you are in fact within ...
by smitcat
Sat Feb 03, 2018 8:31 am
Forum: Personal Consumer Issues
Topic: How to receive large payment for a boat, PayPal vs Wire
Replies: 31
Views: 1967

Re: How to receive large payment for a boat, PayPal vs Wire

Meet at purchasers bank with the boat. Go to cashier with them and watch them get a cashiers check. Take the check and give them the title. Unhook the boat and go. You will get hosed if you use PayPal. Cashiers check is the safest. you don't really have to go to buyers bank tho, just ask them to ge...
by smitcat
Sat Feb 03, 2018 8:16 am
Forum: Personal Consumer Issues
Topic: How to receive large payment for a boat, PayPal vs Wire
Replies: 31
Views: 1967

Re: How to receive large payment for a boat, PayPal vs Wire

Please note - wired funds are reversible within the same day so be careful. You could only do this if you call off the bank before the wire is accepted on the other end. Once a wire is accepted on the other end, they are only reversible in case of error on behalf of the bank. Yes - and I have seen ...
by smitcat
Sat Feb 03, 2018 7:56 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6661

Re: How to think about your house from a financial perspective

We have moved through 4 primary homes over near 40 years now in relatively the same area. Our home has been a great investment for many reason including appreciation, cost (rent) control , tax write-off and for many years a tool for utilizing inflation through the mortgage. Our current home is about...
by smitcat
Sat Feb 03, 2018 7:31 am
Forum: Personal Consumer Issues
Topic: How to receive large payment for a boat, PayPal vs Wire
Replies: 31
Views: 1967

Re: How to receive large payment for a boat, PayPal vs Wire

Meet at purchasers bank with the boat. Go to cashier with them and watch them get a cashiers check. Take the check and give them the title. Unhook the boat and go. You will get hosed if you use PayPal. You won't necessarily get hosed if you use PayPal, but you will have an unnecessary transaction f...
by smitcat
Fri Feb 02, 2018 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Criteria used to make Roth Conversion decision
Replies: 32
Views: 2174

Re: Criteria used to make Roth Conversion decision

I am not sure about convincing you but we convinced ourselves by utilizing both the IORP and RPM calculators which allowed us to 'quickly' compare many possibilities. Possibilities like : various account increases(%) , various life ages, various investment choices. The IORP lomg format is much quick...
by smitcat
Fri Feb 02, 2018 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Updates...
Replies: 16
Views: 2668

Re: Social Security Updates...

One thing these 14-16 year break even calculations never seem to consider is that not only does it take that long to get back the income you lost by not taking SS, it doesn’t include the 14-16 years you could’ve compounded investment gains of various types. Hundreds of thousands of dollars of inves...
by smitcat
Fri Feb 02, 2018 9:50 am
Forum: Personal Consumer Issues
Topic: anyone own a stingray corvette? how do you like it?
Replies: 51
Views: 5210

Re: anyone own a stingray corvette? how do you like it?

Halicar wrote:
Fri Feb 02, 2018 9:21 am
jdb wrote:
Sun Jul 31, 2016 6:59 am
these may be cars for younger guys.
There is literally no car in existence that is more of an old man car than a Corvette.
I have owned 11 corvettes over the years and only two since I was 55 or older.
If you do not like them that is fine - but they are really fun and a very capable car.
by smitcat
Fri Feb 02, 2018 7:16 am
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2038

Re: What to do with Ameriprise annuities

We are talking the same. "if you can take the annuity RMD without annuitizing that IRA more power to you and then you can combine. but once you annuitize that IRA...your stuck...and no roth conversions to boot." I don't plan to annuitize, GLWB, yet. I may do so if SPIAs become more attractive or ki...
by smitcat
Thu Feb 01, 2018 1:25 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2038

Re: What to do with Ameriprise annuities

Off-hand, and without knowing your situation, I'd say you have your options reversed. You should keep the IRA-annuity and move out of the non-IRA annuity. I would really consider bringing this possibility up with your FIDO advisor, 1% AUM. My sister uses them. YMMV Did you mean that using a Roth ac...
by smitcat
Thu Feb 01, 2018 11:06 am
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2038

Re: What to do with Ameriprise annuities

I have one more question. Can I move my IRAs (close the Ameriprise qualified annuity) and move it over to a brokerge house as IRAs? I tried asking my "advisor" and she got huffy and didn't answer on several occasions (red flag). a yes, you can transfer them over as IRAs. they will come over as a lu...
by smitcat
Thu Feb 01, 2018 10:27 am
Forum: Investing - Help with Personal Investments
Topic: What to do with Ameriprise annuities
Replies: 37
Views: 2038

Re: What to do with Ameriprise annuities

^Yes. And the easiest procedure method would be to terminate the GLWB VA-IRA into a IRA cash account. Give written instructions and in addition you may have to use their forms. From the IRA cash account you transfer to another cash account at the whom ever custodian you chose. Open an account at th...
by smitcat
Thu Feb 01, 2018 8:53 am
Forum: Personal Finance (Not Investing)
Topic: How much have kids added to your personal finance/expenses?
Replies: 111
Views: 8179

Re: How much have kids added to your personal finance/expenses?

Childcare $4,000? Where do you live? The cheapest we've seen in our area is $250/week for infants for in-home daycare providers. Daycare centers we looked at range from $16K - $24K per year. We don't have kids but have been talking about it. We know a couple of families who decided dad staying home...
by smitcat
Thu Feb 01, 2018 8:46 am
Forum: Personal Consumer Issues
Topic: Disney World question, accessing resorts and monorail
Replies: 6
Views: 781

Re: Disney World question, accessing resorts and monorail

You can ride on any of the buses and take any monorail or most all of the boat transportation without having a ticket which is only needed to enter a park. Disney springs is the easiest way to avoid a parking problem but having any reservation at the Boardwalk, Dolphin, Swan, or the 4 Hotels on the ...
by smitcat
Thu Feb 01, 2018 8:39 am
Forum: Personal Consumer Issues
Topic: New or used vehicle for new graduate with job?
Replies: 31
Views: 1321

Re: New or used vehicle for new graduate with job?

OP here. Thanks for the variety of responses so far! This gives us some food for thought as we start the process. I appreciate the responses to keep the 99 Camry, but the fact that he may be moving anywhere in the country and returning home for visits warrants a safe, reliable car. Current car has ...