Search found 1679 matches

by TravelforFun
Fri Apr 19, 2019 7:28 pm
Forum: Personal Consumer Issues
Topic: What is the Magic Formula for when One can RETIRE ?
Replies: 11
Views: 1002

Re: What is the Magic Formula for when One can RETIRE ?

To me, if 3% of my net worth (not including my primary home equity) could support one year of my expenses, I should be able to retire regardless of my age.

TravelforFun
by TravelforFun
Fri Apr 19, 2019 7:29 am
Forum: Personal Consumer Issues
Topic: After financial independence, do you play credit card bonus games?
Replies: 83
Views: 5242

Re: After financial independence, do you play credit card bonus games?

Starfish wrote:
Wed Apr 17, 2019 10:07 pm
I have the Chase Reserve with 450$ fee and it's a decent deal. I plan to keep it long term.
First of all it is actually a 150$ card because 300$ are returned towards travel.
I usually cancel the card after the first year and apply for another one to get the points and travel credit.

TravelforFun
by TravelforFun
Thu Apr 18, 2019 10:37 pm
Forum: Personal Consumer Issues
Topic: Electric smoker
Replies: 26
Views: 1058

Re: Electric smoker

A few years ago I tired of tending my charcoal smoker and gave it away. I now use my gas grill as a smoker for racks of pork ribs, and it works surprisingly well. I haven't yet tried to smoke a whole shoulder. I've served guests, a few who are certified BBQ judges, and they were shocked to learn th...
by TravelforFun
Thu Apr 18, 2019 8:42 pm
Forum: Personal Consumer Issues
Topic: After financial independence, do you play credit card bonus games?
Replies: 83
Views: 5242

Re: After financial independence, do you play credit card bonus games?

My wife and I have been qualified for Southwest Airlines companion pass for years. We used to do this. But Southwest has dramatically declined in quality in recent years (seats, room, etc). I try to no longer fly southwest if I can avoid it. All airlines declined and I've come to accept it. I still...
by TravelforFun
Thu Apr 18, 2019 7:40 pm
Forum: Personal Consumer Issues
Topic: After financial independence, do you play credit card bonus games?
Replies: 83
Views: 5242

Re: After financial independence, do you play credit card bonus games?

I'm anti Dave Ramsey when it comes to CC. In my 30s and 40s I took advance of the then no-fee, 0% interest, 12-month cash advance offers by taking out repeatedly tens of thosands of dollars and putting them in CDs that paid 5-6%; but nowadays I go after high reward CC offers. My wife and I have been...
by TravelforFun
Thu Apr 18, 2019 7:14 pm
Forum: Personal Consumer Issues
Topic: Garage Door Opener Replacement
Replies: 24
Views: 1441

Re: Garage Door Opener Replacement

Do you have any objects in the safety-beam that might be blocking complete door closing? Sounds exactly what I observe when our garage door starts down, stops, then goes back up. Broken Man 1999 30-year-old opener is probably not equipped with a safety beam. Time for a new one but open and close th...
by TravelforFun
Thu Apr 18, 2019 7:10 pm
Forum: Personal Finance (Not Investing)
Topic: When did you start spending more and saving less?
Replies: 76
Views: 4372

Re: When did you start spending more and saving less?

When I reached 33X, I declared FI, immediately went part time, tapped into my investment for money to travel, get help around the house, and help our kids and grandkids. I've been pulling 1-2% of my investment a year to supplement my part time income and our newly qualified SS. I have definitely bee...
by TravelforFun
Thu Apr 18, 2019 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: In Laws Retirement Nest Egg
Replies: 151
Views: 12637

Re: In Laws Retirement Nest Egg

The main thing concerning me while writing the post was not so much helping them out here and there with minor expenses, but more so the risk of having to pay for nursing home care / assisted living, which often runs $8-10k a month , as it did with both of my grandparents. They were well equipped t...
by TravelforFun
Thu Apr 18, 2019 6:46 pm
Forum: Personal Consumer Issues
Topic: Electric smoker
Replies: 26
Views: 1058

Re: Electric smoker

A few years ago I tired of tending my charcoal smoker and gave it away. I now use my gas grill as a smoker for racks of pork ribs, and it works surprisingly well. I haven't yet tried to smoke a whole shoulder. I've served guests, a few who are certified BBQ judges, and they were shocked to learn th...
by TravelforFun
Wed Apr 17, 2019 7:21 pm
Forum: Personal Investments
Topic: 100% Equity IRA
Replies: 19
Views: 1091

Re: 100% Equity IRA

20+ years of $6000 contributions, and tax free growth? Hell yeah, we love our Roth IRAs alright!! Guess my point being that mathematically....if your tax rates are identical on both ends... are they not identical returns? If tax rates are the same on both ends, you would do much better if the money...
by TravelforFun
Sun Apr 14, 2019 8:16 pm
Forum: Personal Consumer Issues
Topic: Anyone have a child model?
Replies: 42
Views: 4478

Re: Anyone have a child model?

If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K... Nope, try $4.6 million. TravelforFun Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just chec...
by TravelforFun
Sun Apr 14, 2019 11:02 am
Forum: Personal Investments
Topic: If you have plenty of money, why not 100% stocks in retirement?
Replies: 107
Views: 6933

Re: If you have plenty of money, why not 100% stocks in retirement?

I keep 10 years of expenses in bonds, money market, and CDs; and the rest in stocks. To me, this is still very conservative because the longest bear market in history lasted only three years. Some people get out of the game after they have won. I'll stay in this game until the end.

TravelforFun
by TravelforFun
Sun Apr 14, 2019 10:49 am
Forum: Personal Consumer Issues
Topic: Anyone have a child model?
Replies: 42
Views: 4478

Re: Anyone have a child model?

Small Savanna wrote:
Sat Apr 13, 2019 9:08 pm
If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K...
Nope, try $4.6 million.

TravelforFun
by TravelforFun
Sat Apr 13, 2019 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Missing Info on Social Security Website?
Replies: 4
Views: 372

Re: Possible Missing Info on Social Security Website?

I'm receiving spousal benefits. When I log in to the My Social Security Site the first page I see has my estimated benefits at current age and my last reported earnings. There is a View Estimated Benefits link that shows my age 70 projected benefit. Can't imagine why someone else would be presented...
by TravelforFun
Sat Apr 13, 2019 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Possible Missing Info on Social Security Website?
Replies: 4
Views: 372

Possible Missing Info on Social Security Website?

I'm currently receiving spousal benefits and wanted to check on my PIA so I could calculate my age-70 amount but I can't find it on the Social Security website. I can find my income history, the benefit amount I'm currently receiving which is my spousal benefit, my Medicare plan, but no PIA. Before ...
by TravelforFun
Tue Apr 09, 2019 11:00 pm
Forum: Personal Consumer Issues
Topic: Lawn Service and Landscaping
Replies: 14
Views: 982

Re: Lawn Service and Landscaping

Also DFW here. I pay the mowing guy $25 +$5 tips for the weekly mowing, edging, and blowing; and about $400 a year for True Green to treat my yard. Additionally, I pay whenever the flower bed needs weeding or the trees or shrubs need a haircut.

TravelforFun
by TravelforFun
Tue Apr 09, 2019 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

1) Do you know if the Joint Life requires the annuitants to be a married couple? If not, can the second person be anyone? 2) Also, if the benefit is reduced after the first annuitant dies (I understand it’s not your case) is there a required periodic reporting on the status of the annuitants, ie to...
by TravelforFun
Mon Apr 08, 2019 10:50 pm
Forum: Investing - Theory, News & General
Topic: Cash-out refinance and buy a SPIA vs. reverse mortgage?
Replies: 31
Views: 1593

Re: Cash-out refinance and buy a SPIA vs. reverse mortgage?

In my case(age 67), had I refinanced my home, taken out $250k at 4% for 30 years, and used the money to buy a joint life SPIA, no cash refund, no COLA; I would have gotten $1,150 a month payout from the SPIA. However, the mortgage principal and interest would have cost me $1,200 a month. TravelforF...
by TravelforFun
Mon Apr 08, 2019 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

In other words you bought the $250K annuity within your tIRA. So does that reduce your RMD by 250k when you reach 70.5 years? Is there a limit to how much you can do this? Yes. It reduces the pool on which the RMD amount is calculated by $250k since I no longer have that money because the SPIA I bo...
by TravelforFun
Mon Apr 08, 2019 8:18 pm
Forum: Investing - Theory, News & General
Topic: Cash-out refinance and buy a SPIA vs. reverse mortgage?
Replies: 31
Views: 1593

Re: Cash-out refinance and buy a SPIA vs. reverse mortgage?

In my case(age 67), had I refinanced my home, taken out $250k at 4% for 30 years, and used the money to buy a joint life SPIA, no cash refund, no COLA; I would have gotten $1,150 a month payout from the SPIA. However, the mortgage principal and interest would have cost me $1,200 a month. TravelforFun
by TravelforFun
Mon Apr 08, 2019 8:04 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2019!
Replies: 222
Views: 27557

Re: Roll Call for the Retirement Class of 2019!

dknightd wrote:
Mon Apr 08, 2019 6:07 pm
I turned in my paper work today. First day of retirement 9/1/19. Last day of work 5/31/19
Congratulations on your pending retirement and the three months of paid leave.

TravelforFun
by TravelforFun
Mon Apr 08, 2019 8:02 pm
Forum: Personal Consumer Issues
Topic: Solution for a thick wallet
Replies: 58
Views: 4904

Re: not good to sit on a wallet

bad for your posture and back as you are off balance I use a cell phone case that has a small slot which carries 2 credits cards (one of which is also my Costco card) and my DL. Someone told me about that a few years back and I started carrying my wallet in my front pant pocket instead of the back ...
by TravelforFun
Mon Apr 08, 2019 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage &Future Security?
Replies: 11
Views: 828

Re: Reverse Mortgage &Future Security?

They have boxes and boxes of stuff that they have never sorted. Didn't have to because the house was big enough for them to just fill up a couple of bedrooms and the three car garage. :oops: It's a mess. Don't do this to your loved ones. Agree 100%. I'm 67, my wife is 63 and we're beginning getting...
by TravelforFun
Mon Apr 08, 2019 5:06 pm
Forum: Personal Consumer Issues
Topic: Solution for a thick wallet
Replies: 58
Views: 4904

Re: not good to sit on a wallet

bad for your posture and back as you are off balance I use a cell phone case that has a small slot which carries 2 credits cards (one of which is also my Costco card) and my DL. Someone told me about that a few years back and I started carrying my wallet in my front pant pocket instead of the back ...
by TravelforFun
Mon Apr 08, 2019 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgage &Future Security?
Replies: 11
Views: 828

Re: Reverse Mortgage &Future Security?

Have you considered selling your home now and moving into a smaller place to cut expenses? If you could clear $200k on you home sale, that would give you an extra $8k a year in income (4% withdrawal rate). Combining that with lower utilility, property tax, and insurance bills would make life more co...
by TravelforFun
Sun Apr 07, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

OP, I know pretty much nothing about SPIA's, so consider this question in that light. How would the purchase of this SPIA compare to investing the $250K in a bond ladder? To my simplistic way of thinking, setting aside inflation and the bond interest payments for a moment, drawing 4.4% out of a fix...
by TravelforFun
Sat Apr 06, 2019 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Can you walk me through what you meant by "We will pay taxes on the annuity payments since I used IRA money to pay the premium, but that also means the $250K have been removed from the RMD equation which I like very much." ? Did you buy the SPIA within your Traditional IRA? Or did you withdraw from...
by TravelforFun
Sat Apr 06, 2019 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Thanks for clarifying. Do you mind explaining if you purchased the COLA for behavioral reasons (keeps purchasing ability more stable), as extra longevity insurance, or on a straight economic cost-benefit analysis (or some combination)? First, you don't buy annuity insurance unless you think you're ...
by TravelforFun
Sat Apr 06, 2019 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Iorek wrote:
Sat Apr 06, 2019 9:25 am
Thanks for the interesting thread OP, and all.

Does a 2% COLA mean your payout increases 2% each year, or by the lesser of 2% or the actual CPI increase for that year?
I get a fxed 2% increase every year regardless of CPI.

TravelforFun
by TravelforFun
Sat Apr 06, 2019 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

OP, I may have missed it, but can you share sites you used to shop for annuities, whether you purchased the annuity online, and whether you had to use an agent to purchase the annuity? Of all the sites I have seen, Blueprint Income seems to have the best user interface and selection of insurers. I'...
by TravelforFun
Thu Apr 04, 2019 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

OP, thanks for logical way to buy a pension for most of us non-government workers. I have two questions: 1) Why did you choose New York Life? Is there a way to compare companies and policies? 2) How did you determine how much your State reinsures for default on an annuity? 1) I looked at several co...
by TravelforFun
Thu Apr 04, 2019 7:50 am
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

OP here. I was asked whether they conducted a medical evaluation on me. The answer is no. With annuities, the quicker you die, the more the insurance company makes. This is different from life insurance where the quicker you die, the less the insurance company makes and hence, they evaluate you befo...
by TravelforFun
Wed Apr 03, 2019 11:22 pm
Forum: Forum Issues and Administration
Topic: Looking for Topics from a Certain Member
Replies: 5
Views: 673

Re: Looking for Topics from a Certain Member

Got it. Thanks everyone for your help.

TravelforFun
by TravelforFun
Wed Apr 03, 2019 10:48 pm
Forum: Forum Issues and Administration
Topic: Looking for Topics from a Certain Member
Replies: 5
Views: 673

Looking for Topics from a Certain Member

Is it possible to find all the topics a certain member of this forum has created or authored? I don't want to have to wade through all their posts including their replies to other people's posts to find their original topics.

TravelforFun
by TravelforFun
Tue Apr 02, 2019 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

A lot of people forget about taxes. I need about $8,000 a month in income in order to have about $6,000 a month in spending money. TravelforFun I apologize for the slight tangent but have a question on your taxes. I ask because my planned income will be almost the same at $100K, but my tax calculat...
by TravelforFun
Tue Apr 02, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Sounds like a solid plan to me. But you brought up something I've never considered. If you buy another $250k one next year from the same company, is it fully insured as well? Or do you have to go to another company for full insurance? Next year, we'll buy $250K SPIA from the same company (New York ...
by TravelforFun
Tue Apr 02, 2019 7:04 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

smitcat wrote:
Tue Apr 02, 2019 6:36 pm
That is great - then you do not need additional annuities to reach your goal of 5-$6K per month.
A lot of people forget about taxes. I need about $8,000 a month in income in order to have about $6,000 a month in spending money.

TravelforFun
by TravelforFun
Tue Apr 02, 2019 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Taylor Larimore wrote:
Tue Apr 02, 2019 5:06 pm
Greenman72 wrote:
Tue Apr 02, 2019 1:42 pm
Out of curiosity....it seems that you intentionally did NOT choose to go with a variable annuity. May I ask why not?
Greenman72:

This is why I would never buy a Variable Annuity:

ONE FAULTY INVESTMENT

Best wishes.
Taylor
Wow!
by TravelforFun
Tue Apr 02, 2019 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

"Receiving spousal benefits now ($525 a month) and will receive my own age-70 benefits in three years ($3,600 a month" Does this mean that your spouse is currently receiving $525/mo now and your combined SS at your age 70 in three years is $3,600/mo? Or does it mean that your SS at age 70 in 3 year...
by TravelforFun
Tue Apr 02, 2019 4:41 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

This is the most conservative type of annuity you can get... For sure. It's amazing the haircut you take for the COLA and the refund features. I'm a big fan of SPIA's and have purchased a number of them, all pure annuities with neither of these added features. My portfolio provides the inflation pr...
by TravelforFun
Tue Apr 02, 2019 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

WillRetire wrote:
Tue Apr 02, 2019 4:30 pm
Is the COLA rate fixed at 2%?
My COLA rate is fixed at 2%. You can get a fixed 3% or 4% if you want to.

TravelforFun
by TravelforFun
Tue Apr 02, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Nate79 wrote:
Tue Apr 02, 2019 1:38 pm
What was the extra cost for the cash refund part of the policy?
The cash refund only reduced my monthly benefit by about $20, but the 2% COLA reduced it by $200.

TravelforFun
by TravelforFun
Tue Apr 02, 2019 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Out of curiosity....it seems that you intentionally did NOT choose to go with a variable annuity. May I ask why not? (Note--I am an advisor, and I do periodically sell VA's when I deem them appropriate, and you seem like a good candidate. I am NOT soliciting or advertising or promoting my services....
by TravelforFun
Tue Apr 02, 2019 3:28 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Re: Just Bought an Annuity

Good luck to you. Would you mind sharing: Your portfolio balance and where the funds are located? I rather not disclose this. Your expected or presumed SS payment(s)? Receiving spousal benefits now ($525 a month) and will receive my own age-70 benefits in three years ($3,600 a month). You annual or...
by TravelforFun
Tue Apr 02, 2019 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Just Bought an Annuity
Replies: 116
Views: 8256

Just Bought an Annuity

After months of consideration, we pulled the trigger last month and bought an annuity policy from New York Life. We chose: - The premium of $250K because this is the limit the Texas Life & Health Insurance Guaranty Association would cover. - Single Premium Immediate Annuity (SPIA), Joint Life with C...
by TravelforFun
Tue Apr 02, 2019 12:31 pm
Forum: Personal Investments
Topic: 32 year old planning on retiring some time between 45 and 55 planning?
Replies: 6
Views: 829

Re: 32 year old planning on retiring some time between 45 and 55 planning?

Just one question. When the time comes, can you withdraw no more than 3% a year from your investments to supplement your pension/social security income and have enough to live on after paying taxes, health care, and education costs?

TravelforFun
by TravelforFun
Tue Apr 02, 2019 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: What to Do with Spouses State Retirement Balance?
Replies: 9
Views: 614

Re: What to Do with Spouses State Retirement Balance?

I would roll it to an IRA and invest it. There is no guarantee she would be re-employed by the state and chances are you will make better than a 4% return over a long period of time.

TravelforFun
by TravelforFun
Tue Apr 02, 2019 12:16 pm
Forum: Personal Consumer Issues
Topic: Amazon Fire Tablets are on sale ......
Replies: 14
Views: 1380

Re: Amazon Fire Tablets are on sale ......

Broken Man 1999 wrote:
Mon Apr 01, 2019 11:39 am
Amazon Fire 7" tablets are being offered to Amazon Prime members for $34.99.
Amazon Fire HD8 tablets are being offered to Amazon Prime members for $49.99
Amazon Fire HD10 tablets are being offered to Amazon Prime members for $99.99
I don't see these prices on Amazon.com.

TravelforFun
by TravelforFun
Sun Mar 31, 2019 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3565
Views: 665316

Re: What's Your Credit Card Rewards Strategy?

... IHG points enable me to spend a night near IAD before a morning flight to London and another night near LHR before the next-day flight to my actual destination. I have booked these itineraries for August 2019 and New Year 2019-2020, and now I am running out of my IHG points. A question to the B...
by TravelforFun
Sat Mar 30, 2019 11:20 pm
Forum: Forum Issues and Administration
Topic: An Open Call for Forum Moderators
Replies: 6
Views: 1836

Re: An Open Call for Forum Moderators

Here's the Bottom Line: We need help. If you're willing to volunteer to help us by becoming a moderator, please send a private message to me to let me know. Here's the Pitch: This forum serves a world wide audience at every level of investment experience and acumen. Our moderators facilitate our ab...