Search found 146 matches

by lexie2000
Sun Mar 11, 2012 9:26 am
Forum: Personal Investments
Topic: US Savings Bonds Series EE -- Keep or Redeem?
Replies: 2
Views: 592

Re: US SAVINGS BONDS SERIES EE -- KEEP OR REDEEM?

I have several that are earning 4%. I am holding on to them until maturity or until interest rates rise above that, whichever comes first.
by lexie2000
Thu Mar 08, 2012 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Save money every day: Ten painless tricks
Replies: 61
Views: 8611

Re: Save money every day: Ten painless tricks

1. Become a wise consumer and get the very best price that you can for everything that you buy.

2. Don't pay interest on anything except real estate.
by lexie2000
Mon Mar 05, 2012 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: EE Bond, what to do with it?
Replies: 11
Views: 944

Re: EE Bond, what to do with it?

I'm holding $9500 (face value) in EE bonds. His place of employment used to "encourage" people to buy them through payroll deduction. I decided to wait to cash them in until after DH retired and we were in a lower tax bracket. He'll retire this year, but I'm going to let them ride until i...
by lexie2000
Mon Mar 05, 2012 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: EE Bond, what to do with it?
Replies: 11
Views: 944

Re: EE Bond, what to do with it?

I'm holding $9500 (face value) in EE bonds. His place of employment used to "encourage" people to buy them through payroll deduction. I decided to wait to cash them in until after DH retired and we were in a lower tax bracket. He'll retire this year, but I'm going to let them ride until in...
by lexie2000
Sun Mar 04, 2012 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Is anyone not depending on social security when they retire?
Replies: 93
Views: 6679

Re: Is anyone not depending on social security when they ret

The full amount of Soc Sec may be a small part of retirement income for a given individual, but is there anyone who won't use the full amount whatever that is? Are some people going to give back or give away some or all of it? I am retired but I am not taking Social Security and I don't intend to. ...
by lexie2000
Sun Mar 04, 2012 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: RMD's - Am I missing somthing here?
Replies: 33
Views: 3433

Re: RMD's - Am I missing somthing here?

Everybody's situation is different. We are 55 and our portfolio is heavily weighted in tax-deferred accounts. Since the bulk of our reportable income in retirement is a pension (to start), we have the opportunity to do something about the situation while still remaining in the 15% tax bracket and be...
by lexie2000
Sun Mar 04, 2012 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Is anyone not depending on social security when they retire?
Replies: 93
Views: 6679

Re: Is anyone not depending on social security when they ret

We are 55 and DH is planning to retire this year. We have never included SS in our retirement planning. As time marches on and we become eligible, we will consider whether to take it or delay. At this point it looks like we will be waiting until 70 1/2, but who knows what may happen in the nest 15 y...
by lexie2000
Sat Mar 03, 2012 12:27 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

Hi Lexie: Another benefit in waiting is that we have VERY large 401k balance. Not having the pension income would allow us to draw down larger chunks of his 401k at the 15% marginal rate. Good thinking! Also, you must consider when to take social-security retirement benefits. I have not seen anyone...
by lexie2000
Sat Mar 03, 2012 10:34 am
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Have you Checked out your Public Library?

Have you checked out your public library? Ours has an extensive section dealing with retirement planning. A few years ago I checked out a book that dealt with the timing of your withdrawals and the tax implications. (I was trying to decide whether to do a Roth conversion). I think the book was by E...
by lexie2000
Sat Mar 03, 2012 10:05 am
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

Hi Lexie, In 2009 I retired and was much like your situation. Here's what I did. I took my pension, and 401K balances and rolled them over into an IRA at Vanguard. Then I moved the after tax amount in that over to my Roth IRA. That said, the money just sits there completely protected from taxes til...
by lexie2000
Sat Mar 03, 2012 9:58 am
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

Hi Lexie: Another benefit in waiting is that we have VERY large 401k balance. Not having the pension income would allow us to draw down larger chunks of his 401k at the 15% marginal rate. Good thinking! Also, you must consider when to take social-security retirement benefits. I have not seen anyone...
by lexie2000
Sat Mar 03, 2012 9:43 am
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

Try using ESPlanner at: http://www.esplanner.com/economics/inputs. It was developed by Dr. Laurence Kotlikoff, Profesor of Economics at Boston U. I think this might be a more helpful tool for people who still have several years in the accumulation phase. I'm not confident that it will do the type o...
by lexie2000
Fri Mar 02, 2012 11:54 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

I think if you do your own spreadsheet and then check it against several of the retirement planners in the Wiki here and a few recommended at early-retirement.org you should be in good shape. Here are a couple of other articles on the Social Security - http://www.forbes.com/sites/advisor/2011/11/28...
by lexie2000
Fri Mar 02, 2012 7:28 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

My DH is 55 and plan on taking early retirement this year. He can take his pension with a benefit reduction immediately or delay taking it up to age 60 when his full retirement benefit will be realized. I've done the "simple math" and if he waits to take it until age 60, the break even po...
by lexie2000
Fri Mar 02, 2012 6:16 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

We have found it helpful to make a spreadsheet and model different scenarios. Logically, drawing the savings down first usually makes the most financial sense. However, emotionally if you are used to having a big 40K balance as a financial security blanket, the reality is that you may not want to d...
by lexie2000
Fri Mar 02, 2012 6:04 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

There's another financial guy out there who has an online optimizer for this sort of thing. Jim Otar has that, but it might be someone else; I'll check my home PC later. It dealt with the strategy of getting the proper MIX of income from your different sources to keep the tax bite down... Update: y...
by lexie2000
Fri Mar 02, 2012 5:40 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

Is the pension inflation adjusted? You really need to take inflation into account because even five years of modest infltaion could eat up a lot of the value of the higher payments at the age of 60. Perhaps, but it seems to me that folks with excessive RMDs on their short list of things to worry ab...
by lexie2000
Fri Mar 02, 2012 5:39 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

It seems like a no-brainer on the face of it and in our case it might be a case of 6 of one, half a dozen of another ; but I'd like to read what the "pros" say. Not too many of us here are pros but some have similar situations. I'll have three significant sources of possible income when I...
by lexie2000
Fri Mar 02, 2012 5:33 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

We have found it helpful to make a spreadsheet and model different scenarios. Logically, drawing the savings down first usually makes the most financial sense. However, emotionally if you are used to having a big 40K balance as a financial security blanket, the reality is that you may not want to d...
by lexie2000
Fri Mar 02, 2012 5:23 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

It seems like a no-brainer on the face of it and in our case it might be a case of 6 of one, half a dozen of another ; but I'd like to read what the "pros" say. Not too many of us here are pros but some have similar situations . That's kind of what I was hoping and why I asked the questio...
by lexie2000
Fri Mar 02, 2012 5:12 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

Is the pension inflation adjusted? You really need to take inflation into account because even five years of modest infltaion could eat up a lot of the value of the higher payments at the age of 60. No, and I thought about that too. That's why I'm looking for literature that will walk me through th...
by lexie2000
Fri Mar 02, 2012 4:35 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: Delay Taking a Pension In Order to Draw Down Your 401k

I'd say it partly depends on the financial health of the pension provider ... Ya, I thought about that too. They are a large aerospace company. They get a lot of government contracts, which could be a negative. On the other hand, the government probably needs them as much as they need the governmen...
by lexie2000
Fri Mar 02, 2012 4:05 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: 401k Draw Down To Allow Your Pension To Grow

Actually the title of the thread is probably bass ackwards. It should be Delay Taking a Pension in Order to Draw Down 401K.
by lexie2000
Fri Mar 02, 2012 3:56 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: 401k Draw Down To Allow Your Pension To Grow

While the numbers might be different, this is not that different from the question of take social security now and leave the money in the 401(k) vs delay social security and take money from the 401(k) to live on (or even to convert to Roth IRA). Delaying the pension (social security) gives greater ...
by lexie2000
Fri Mar 02, 2012 3:47 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Re: 401k Draw Down To Allow Your Pension To Grow

momar wrote:Do you have heirs or charities you want to leave money to?
We do not plan to leave a lot on the table.
by lexie2000
Fri Mar 02, 2012 3:32 pm
Forum: Personal Investments
Topic: Delay Taking a Pension In Order to Draw Down Your 401k
Replies: 46
Views: 4062

Delay Taking a Pension In Order to Draw Down Your 401k

My DH is 55 and plan on taking early retirement this year. He can take his pension with a benefit reduction immediately or delay taking it up to age 60 when his full retirement benefit will be realized. I've done the "simple math" and if he waits to take it until age 60, the break even poi...
by lexie2000
Tue Feb 28, 2012 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Money magazine for Bogleheads?
Replies: 35
Views: 4326

Re: Money magazine for Bogleheads?

I can't get too down on Money either. It taught us the basics when we were in our 20s. I checked them out from the library. :D
by lexie2000
Mon Feb 27, 2012 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: Is budgeting necessary if you live a simple and frugal life?
Replies: 100
Views: 7151

Re: Is budgeting necessary if you live a simple and frugal l

To answer the original question, budgeting is not necessary if you live a simple and frugal life . But, if that is true for you, how did you get there? How is it that you are so well able to live within your means that you almost don't have to think about it? 1. Started out with no consumer debt an...
by lexie2000
Sun Feb 26, 2012 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Is budgeting necessary if you live a simple and frugal life?
Replies: 100
Views: 7151

Re: Is budgeting necessary if you live a simple and frugal l

I'd be curious to see how many aforementioned 'frugal' folks who are easily getting by are doing so with recently born or young kids. It's definitely doable, but it also changes the spend/save equation dramatically when a new little one arrives. You can do it if you wait to start a family until you...
by lexie2000
Sun Feb 26, 2012 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: Is budgeting necessary if you live a simple and frugal life?
Replies: 100
Views: 7151

Re: Is budgeting necessary if you live a simple and frugal l

It's amzing to me to see the number of folks with huge savings via Boglehead tenants to not budget! For myself, budgeting is not a HAVE TO, it's a WANT to. By this, I mean that we plan everything so that everything desired can be achieved. Need a new car? Check, we pay ourselves $500/month each tow...
by lexie2000
Fri Feb 24, 2012 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: Talking personal finance
Replies: 37
Views: 4137

Re: Talking personal finance

I think it is easier to talk about personal finance with people of like mind, like those on this forum; but many times, I'm not sure it's worth the time or effort. Many people really believe that they are doing "the best that they can". They are adverse to the idea that they might have to ...
by lexie2000
Fri Feb 24, 2012 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Is budgeting necessary if you live a simple and frugal life?
Replies: 100
Views: 7151

Re: Is budgeting necessary if you live a simple and frugal l

I recall reading in one of Tom Stanley's MND books that a slight majority of millionaires he studied did in fact control spending via monthly budgets( playing good defense); the other millionaires created " artificial economic scarcity" by investing 15% ( pay yourself first) and spending ...
by lexie2000
Tue Feb 21, 2012 4:53 pm
Forum: Personal Investments
Topic: Myth avg. AmerICAN 8k IN CREDit card debt?
Replies: 22
Views: 1991

Re: Myth avg. AmerICAN 8k IN CREDit card debt?

I really have no clue, but it wouldn't surprise me. We have always been consumer debt adverse so the only CC debt we've ever carried was at 0%.
by lexie2000
Tue Feb 21, 2012 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: when did you start to max out 401k?
Replies: 58
Views: 7716

Re: when did you start to max out 401k?

24 years old, but it wasn't called a 401k. It was called profit sharing and later became a 401k.
by lexie2000
Tue Feb 21, 2012 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Quality furniture, worth the investment?
Replies: 39
Views: 8228

Re: Quality furniture, worth the investment?

I also don't have time to really spend shopping for furniture, and I'm sure my DH won't be any help here either since he considers shopping to be a form of torture. I am totally in your husband's camp which is why I tend to buy products that I REALLY like, that are timeless, and that are really goo...
by lexie2000
Mon Feb 20, 2012 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Quality furniture, worth the investment?
Replies: 39
Views: 8228

Re: Quality furniture, worth the investment?

Furniture is more of an investment in your lifestyle than anything else. If you buy quality, it will cost much more; but if you're like me and don't want to be bothered with redecorating all the time, your sets and pieces will hold up really well and look excellent over time. We even splurged on a N...
by lexie2000
Fri Feb 17, 2012 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Your Personal Mentor
Replies: 32
Views: 2427

Re: Your Personal Mentor

My dad was a great mentor, but he died over three years ago. I keep wondering what he'd think of today's economy. Now, I have no personal mentor.
by lexie2000
Sat Feb 11, 2012 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: 20% discount on gasoline
Replies: 12
Views: 2296

Re: 20% discount on gasoline

I don't have a Publix where I live; but if I did, I'd be all over it.

Right now, my Chase Freedom card offers 5% back on all gas purchases, so I am filling up at BP instead of Costco.
by lexie2000
Sun Feb 05, 2012 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: The true value of money...
Replies: 21
Views: 2079

Re: The true value of money...

We are not retired yet, but feel much the same way that you do and it is unfortunate. If the economy was not so uncertain, we would do more.
by lexie2000
Sat Feb 04, 2012 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Poll: How many hours do you work?
Replies: 37
Views: 4275

Re: Poll: How many hours do you work?

DH works way too many hours (50-60 is not uncommon). The company he works for talks a big game when it comes to work/life balance, but it's all a bunch of BS. It's one of the reasons that DH will be retiring early.
by lexie2000
Sat Feb 04, 2012 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: How do you retirees pay for new/new used cars?
Replies: 58
Views: 6484

Re: How do you retirees pay for new/new used cars?

We are not retired yet, but we've always paid cash for our cars whether new or used (usually used). Our current autos are a 2000 and a 2003 (both Toyotas) and both have less than 100K miles. We expect them to go for many more years. I think our plan right now is to "set aside" a $100K reti...
by lexie2000
Sat Feb 04, 2012 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Do You Save?
Replies: 57
Views: 5977

Re: How Much Do You Save?

We saved a little bit over 34%. We are not 1%ers and we still have a mortgage.
by lexie2000
Sat Feb 04, 2012 1:17 am
Forum: Personal Finance (Not Investing)
Topic: Save or Spend?
Replies: 19
Views: 2294

Re: Save or Spend?

We will still be saving for a little while, but DH will be retiring this year(age 55) so the draw-down will soon begin. It does make me a little nervous.
by lexie2000
Wed Feb 01, 2012 2:08 am
Forum: Personal Finance (Not Investing)
Topic: Share Your Money-Saving "Secrets" Here
Replies: 110
Views: 12545

Re: Share Your Money-Saving "Secrets" Here

I know people say to focus on the big stuff, and I agree with that; but people have to buy and use "the small stuff" every day, so there is a lot of money being spent year in and year out on the small stuff. By combining sales, coupons, store rewards, and rebates, look for ways to get a lo...
by lexie2000
Fri Dec 30, 2011 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Tremendous article on saving (and how difficult)
Replies: 12
Views: 2962

Re: Tremendous article on saving (and how difficult)

We need to define ourselves less as a people and as individuals by what and how we consume, and derive our identity and self confidence from what we produce and invest. People define themselves, and others, by what they consume because it is a visible measure of success, unlike investments which ar...
by lexie2000
Thu Dec 29, 2011 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: What do you buy at Costco?
Replies: 55
Views: 8280

Re: What do you buy at Costco?

Things we buy regularly at Costco include:
Cheese of all kinds
Flour Tortillas
Lobster Tails
Beef Tenderloin Steaks
Italian Meatballs
Milk
Butter
Printer Ink Cartridges
Kirkland T-shirts
Gold Toe Socks
Eye Glasses
Contact Lenses

Latte Freeze
Hot Dog or Polish Sausage and Soda