Retirement Class of 1998 (Sheepdog's Experience)

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Sheepdog
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Retirement Class of 1998 (Sheepdog's Experience)

Post by Sheepdog » Mon Oct 02, 2017 8:57 am

It has been 19 years. There wasn't a Boglehead's "Roll Call for the Retirement Class of 1998". Bogleheads hadn't been founded yet, but the Morningstar Vanguard Diehards forum was founded in March 1998 and from that came this group which commenced in 2007. Taylor Larimore, our chief advisor from that beginning, I give my thanks, but there were more such as Mel Lindauer who affected my future in those early years. My retirement would have been lost without that group.....really.....I mean that. How lucky was I to have found that forum before retiring.
Today, October 2nd, 2017, is the 19th anniversary of the beginning of my retirement. I started this in-retirement journey with the savings I believed I would need plus I had a plan for the annual amount to be distributed from that nest egg (4.5% average per year taken out and not increase for inflation......let the nest egg growth take care of inflationary needs.) I took my pension as a lump sum and transferred it to an IRA. I had a plan for converting a portion of the IRA to Roth IRAs after retiring when income taxes would be lower. (Roth IRAs started just a few months before I did retire, so it was a near last minute plan for the early retirement year's financial planning thanks to advice from the Diehards. How lucky was that?) And, I Bonds with up to 3.6% plus inflation interest became available in 1998, and because of Mel's recommendation, I bought a good amount. How lucky again was that?.
My early retirement plan was to reduce my stock percentage allocation to 100 minus my age as I am somewhat risk averse, plus I believed "why be more aggressive than you need to be?" I did stop reducing that stock percentage at 23 % at age 77 and have remained there and that is still doing me well. I developed a tax plan to reduce taxes so that today I seldom have to pay any federal tax on the earnings of my present investments (nest egg is up about 47% from the beginning.) My spending plan worked. My wife and I took nice vacations foreign and domestic, kept up our home, enjoyed theater, live music and attending sporting events often. We share our good fortune with groups in need. I have watched my health, exercised often, and told my wife and children that I loved them. I stay busy, keep up my house and landscaping mostly by myself. I try to be active outside of home including volunteering. I try to smile rather than frown. I try to keep up with happenings locally, nationally, and foreign, so not frowning is very difficult sometimes, but I admit that I do fail occasionally.
For all of you starting your retirement planning journey, follow the good advice given by the Bogleheads. Turn off the noise (you know what I mean). And, when you do retire, relax and have fun, exercise and eat well to stay healthy, invest conservatively, spend frugally, share your good fortune with others, and then you know you have done it right.
Jim
People should not say everything they think. They should think about everything they say.

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jfn111
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by jfn111 » Mon Oct 02, 2017 9:01 am

Great post Sheepdog. This group has been a god send to help plan for retirement.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Petrocelli » Mon Oct 02, 2017 9:03 am

Excellent post. Thank you for sharing it. It is very helpful to people like me approaching retirement.
Petrocelli (not the real Rico, but just a fan)

Longdog
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Longdog » Mon Oct 02, 2017 9:13 am

Very inspirational post. I wish you many more years of happiness and good health.
Steve

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by kalrocmk » Mon Oct 02, 2017 9:50 am

Thank you for posting this very encouraging post. It is really an inspiration to hear your success story. Wish you many more happy years. :sharebeer
Just trying to make a living

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by sreynard » Mon Oct 02, 2017 10:34 am

Thanks Sheepdog. It is always valuable and encouraging to hear the experiences of those that have gone before us.

My father commented a few months ago that if he had to save up as much as many of the younger folks here thought they needed, he would never have been able to retire. Many here make more in a year than he made in his entire 55 year working career. As he said, once the house is paid off, as long as you don't get ridiculous, you really don't need all that much income a month to have a have a very happy retirement.

All you have to do is live below your means, save a reasonable amount, and don't take unnecessary risks, and you will end up with a comfortable retirement. So simple, but for many, so hard.

As he told me, that way isn't sexy. It isn't exciting or adventurous, and you will never get rich quick that way, but it's simple and it works.

Congratulations Sheepdog! Job well done! :sharebeer

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by flyingaway » Mon Oct 02, 2017 10:40 am

I like to hear real experience from those retired many years ago, which is much more useful and touching than the endless rudimentary questions and discussions about investing and LBYM.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Billionaire » Mon Oct 02, 2017 11:03 am

Post of the Year!!

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Bacchus01 » Mon Oct 02, 2017 11:20 am

Thank you for sharing!

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by alpine_boglehead » Mon Oct 02, 2017 11:58 am

Thank you very much for sharing your experience and your timeless advice. I've printed out your post, to be 100% available when it will eventually be needed :D

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Gill » Mon Oct 02, 2017 12:08 pm

Sheepdog, thanks for your post from a fellow member of the Class of 1998. I, too, discovered Vanguard Diehards about 1999. I had spend a career in the bank trust business and thought I knew a fair amount about investments and financial planning, but I have learned a great deal here. We're having a very comfortable retirement with a beautiful Florida home, a country club and international travel and my portfolio is considerably larger than it was in 1998. I particularly enjoy looking at my considerable holdings of I-Bonds, thanks to the constant advice of Mel beginning back around 2000 when I purchased my first I-Bonds which I still purchase at $10,000 every January. I'm at 36% equities and quite comfortable with that.

Thanks for reminding me how fortunate we are!

Gill

flyingaway
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by flyingaway » Mon Oct 02, 2017 12:53 pm

Sheepdog wrote:
Mon Oct 02, 2017 8:57 am
It has been 19 years. There wasn't a Boglehead's "Roll Call for the Retirement Class of 1998". Bogleheads hadn't been founded yet, but the Morningstar Vanguard Diehards forum was founded in March 1998 and from that came this group which commenced in 2007. Taylor Larimore, our chief advisor from that beginning, I give my thanks, but there were more such as Mel Lindauer who affected my future in those early years. My retirement would have been lost without that group.....really.....I mean that. How lucky was I to have found that forum before retiring.
Today, October 2nd, 2017, is the 19th anniversary of the beginning of my retirement. I started this in-retirement journey with the savings I believed I would need plus I had a plan for the annual amount to be distributed from that nest egg (4.5% average per year taken out and not increase for inflation......let the nest egg growth take care of inflationary needs.) I took my pension as a lump sum and transferred it to an IRA. I had a plan for converting a portion of the IRA to Roth IRAs after retiring when income taxes would be lower. (Roth IRAs started just a few months before I did retire, so it was a near last minute plan for the early retirement year's financial planning thanks to advice from the Diehards. How lucky was that?) And, I Bonds with up to 3.6% plus inflation interest became available in 1998, and because of Mel's recommendation, I bought a good amount. How lucky again was that?.
My early retirement plan was to reduce my stock percentage allocation to 100 minus my age as I am somewhat risk averse, plus I believed "why be more aggressive than you need to be?" I did stop reducing that stock percentage at 23 % at age 77 and have remained there and that is still doing me well. I developed a tax plan to reduce taxes so that today I seldom have to pay any federal tax on the earnings of my present investments (nest egg is up about 47% from the beginning.) My spending plan worked. My wife and I took nice vacations foreign and domestic, kept up our home, enjoyed theater, live music and attending sporting events often. We share our good fortune with groups in need. I have watched my health, exercised often, and told my wife and children that I loved them. I stay busy, keep up my house and landscaping mostly by myself. I try to be active outside of home including volunteering. I try to smile rather than frown. I try to keep up with happenings locally, nationally, and foreign, so not frowning is very difficult sometimes, but I admit that I do fail occasionally.
For all of you starting your retirement planning journey, follow the good advice given by the Bogleheads. Turn off the noise (you know what I mean). And, when you do retire, relax and have fun, exercise and eat well to stay healthy, invest conservatively, spend frugally, share your good fortune with others, and then you know you have done it right.
Jim
4.5% withdraw against the portfolio is forever safe. Do you really feel the increase of the portfolio matched the inflation?

mbres60
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by mbres60 » Mon Oct 02, 2017 1:00 pm

Thank you for posting your experiences. I'm sure it will be a great help to people.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Compound » Mon Oct 02, 2017 1:01 pm

Beautiful post. Thank you for sharing.

goingup
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by goingup » Mon Oct 02, 2017 1:09 pm

I love your story. It's not just about financial success but a life well-lived. You're an inspiration!

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Grt2bOutdoors » Mon Oct 02, 2017 1:26 pm

+1 Great post, Sheepdog! Happy Retirement! :sharebeer

P.S. Thanks for sharing your experience.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by book lover » Mon Oct 02, 2017 1:36 pm

Great post, the picture of your dog always cracks me up. I second your sentiment regarding feeling grateful to the Bogleheads for all the wonderful advice over the years.

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BigFoot48
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by BigFoot48 » Mon Oct 02, 2017 1:52 pm

Wonderful summary of retirement success Sheepdog! I too am a member of the Class of 1998, not finding Vanguard Diehards until 2001 but that good luck has made ALL THE DIFFERENCE! My eternal thanks is to Taylor Larimore for his wise advice and to all the Bogleheads over the years that have put the icing on the investment cake. My portfolio is up significantly since December 1998 too. (It's been hard to break the living-below-our-means 50-year habit!)
Last edited by BigFoot48 on Mon Oct 02, 2017 9:50 pm, edited 1 time in total.
Retired | Two-time in top-10 in Bogleheads S&P500 contest; 12-time loser

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Puakinekine » Mon Oct 02, 2017 2:39 pm

Thank you Sheepdog for this wonderful post. We must have started at the same time and in the same way. Perhaps you started off with more knowledge about investing then I did, but I knew next to nothing. So with some new time on my hands and the future starting to seem more and more of a reality, I too got my first education through the old Morningstar site and forums, and then came over here when this Boglehead group was founded. Taylor with his age advice, Mel with his I-bonds, and so many, many highly intelligent, articulate and civil voices advised me in how to simply and calmly go about preparing for the financially stress free retirement we have today. I believe I remember that you were one of the people who rather (sheepishly?) admitted that your equity/fixed income allocation was as conservative as ours during the 2008 debacle. It did us no harm.

I especially liked your description of the calmness and decency of your retirement. It reflects the tone I remember well from years past in the group. When you are financially stable or on the road to financial stability, it makes it much easier to address your life in peace.
We share our good fortune with groups in need. I have watched my health, exercised often, and told my wife and children that I loved them. I stay busy, keep up my house and landscaping mostly by myself. I try to be active outside of home including volunteering. I try to smile rather than frown. I try to keep up with happenings locally, nationally, and foreign, so not frowning is very difficult sometimes, but I admit that I do fail occasionally.
For all of you starting your retirement planning journey, follow the good advice given by the Bogleheads. Turn off the noise (you know what I mean). And, when you do retire, relax and have fun, exercise and eat well to stay healthy, invest conservatively, spend frugally, share your good fortune with others, and then you know you have done it right.

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Sheepdog
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Sheepdog » Mon Oct 02, 2017 3:06 pm

flyingaway wrote:
Mon Oct 02, 2017 12:53 pm

4.5% withdraw against the portfolio is forever safe. Do you really feel the increase of the portfolio matched the inflation?
Yes, it exceeded MY inflation.....not the CPI possibly. I do not buy new electronics every year. I do not buy new houses or rent new apartments every year, in fact I live in the same paid for house my entire retirement life. Living as I do, my investment total increased more than I took out. Even though medical expenses may be higher, other spending may not be. I withdrew from savings as much as 7.52% (2011), but as low as 1.93% (2016)...that latter amount is an aberration as my checking account had grown surprisingly so higher withdrawals were not needed. Withdrawals in 2017 will be back up there as we had some home remodeling. Anyway, our average annual withdrawal percentage in the 18 year period, 1999 through 2016 was 4.6%, close to the plan.
From an earlier calculation, spending 2002-06 averaged $54,068, a period when low taxes began when my major Roth conversions ended, while the last 5 year period, 2012-16, it averaged $67,457....higher spending with higher portfolio growth. MY inflation was met.

To the rest of you, thank you for your kind and thoughtful comments.
People should not say everything they think. They should think about everything they say.

flyingaway
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by flyingaway » Mon Oct 02, 2017 4:46 pm

Sheepdog wrote:
Mon Oct 02, 2017 3:06 pm
flyingaway wrote:
Mon Oct 02, 2017 12:53 pm

4.5% withdraw against the portfolio is forever safe. Do you really feel the increase of the portfolio matched the inflation?
Yes, it exceeded MY inflation.....not the CPI possibly. I do not buy new electronics every year. I do not buy new houses or rent new apartments every year, in fact I live in the same paid for house my entire retirement life. Living as I do, my investment total increased more than I took out. Even though medical expenses may be higher, other spending may not be. I withdrew from savings as much as 7.52% (2011), but as low as 1.93% (2016)...that latter amount is an aberration as my checking account had grown surprisingly so higher withdrawals were not needed. Withdrawals in 2017 will be back up there as we had some home remodeling. Anyway, our average annual withdrawal percentage in the 18 year period, 1999 through 2016 was 4.6%, close to the plan.
From an earlier calculation, spending 2002-06 averaged $54,068, a period when low taxes began when my major Roth conversions ended, while the last 5 year period, 2012-16, it averaged $67,457....higher spending with higher portfolio growth. MY inflation was met.

To the rest of you, thank you for your kind and thoughtful comments.
Thank you for the information. I am glad everything has been going well with you.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by carolc » Mon Oct 02, 2017 5:45 pm

I too remember the Morningstar Diehards group...sent me on my way to retiring before 60 and am grateful for all the knowledge of the group back then. (Don't need it as much now and am happily retired. 😉)

Thanks for posting!

carolc

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jainn
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by jainn » Mon Oct 02, 2017 5:49 pm

$1.00 in 1998 had the same buying power as $1.50 in 2017
https://www.dollartimes.com/inflation/i ... &year=1998
Great to hear your portfolio is up 45% from 1998 to now, almost equal to CPI, even after all the withdrawals you made!

I hope you enjoy all your years!
Jainn

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Rocco Sampler
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Rocco Sampler » Mon Oct 02, 2017 6:19 pm

Sheepdog, congratulations! I would love to hear some details on your tax plan.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by mattyfu1 » Mon Oct 02, 2017 6:21 pm

I am 35 and working my way towards financial independence.

I love this post, the perspective is worth more than any dollar I can save.

Most appreciated.

-Matt

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Kenkat » Mon Oct 02, 2017 6:27 pm

book lover wrote:
Mon Oct 02, 2017 1:36 pm
Great post, the picture of your dog always cracks me up. I second your sentiment regarding feeling grateful to the Bogleheads for all the wonderful advice over the years.
That is his DOG? :D

Great post, sheepdog. A life well lived...

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by btenny » Mon Oct 02, 2017 6:39 pm

Cheers Sheepdog. :sharebeer I too retired in December 1998. It was one of the best decisions of my life to retire early. I discovered Morningstar in 2003 when I fired my adviser and went to self directed investing. I learned a ton over the years on that board and this board. I spent about 4% of my savings for years before going on Medicare and then later taking SS which reduced our income needs. Now I spend about 3% or so. Yes living though two big market crashes was sort of nerve racking but with my 50/50 AA (2001 crash) and 40/60 AA (2008 crash) everything has worked out great. Now I have more than I started with and more than I can ever spend.

Good Luck.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Levett » Mon Oct 02, 2017 6:43 pm

17 years for me, Jim (July 2000).

But you go it (mostly) right:

"And, when you do retire, relax and have fun, exercise and eat well to stay healthy, invest conservatively, spend frugally, share your good fortune with others, and then you know you have done it right."

Sometimes, I have found, reward exceeds frugal--within limits. ;-)

Long life!

Lev

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by dwickenh » Mon Oct 02, 2017 7:53 pm

Thanks Sheepdog, as someone only 18 month into retirement, your post gives me comfort. I am also conservative in my investments and your post makes it easier to "stay the course".


Best wishes to you,

Dan
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” | — Warren Buffett

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Chant » Mon Oct 02, 2017 8:23 pm

Sheepdog,

Every time I see that awesome avatar, I know I’m in for some practical wisdom. Thanks for continually sharing. I’m coming up on 54 and realize that the future market remains unknown to me. But, it was unknown to you too....and, you navigated it well. The only things we really know are built on the experiences of those who lead the way before us. Simply, thank you.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by AlphaLess » Mon Oct 02, 2017 8:46 pm

Sheepdog wrote:
Mon Oct 02, 2017 8:57 am
My wife and I took nice vacations foreign and domestic, kept up our home, enjoyed theater, live music and attending sporting events often. We share our good fortune with groups in need. I have watched my health, exercised often, and told my wife and children that I loved them. I stay busy, keep up my house and landscaping mostly by myself. I try to be active outside of home including volunteering. I try to smile rather than frown. I try to keep up with happenings locally, nationally, and foreign, so not frowning is very difficult sometimes, but I admit that I do fail occasionally.
Jim
Cheers to that, Man!

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by flyingaway » Mon Oct 02, 2017 9:33 pm

Sheepdog wrote:
Mon Oct 02, 2017 3:06 pm
flyingaway wrote:
Mon Oct 02, 2017 12:53 pm

4.5% withdraw against the portfolio is forever safe. Do you really feel the increase of the portfolio matched the inflation?
Yes, it exceeded MY inflation.....not the CPI possibly. I do not buy new electronics every year. I do not buy new houses or rent new apartments every year, in fact I live in the same paid for house my entire retirement life. Living as I do, my investment total increased more than I took out. Even though medical expenses may be higher, other spending may not be. I withdrew from savings as much as 7.52% (2011), but as low as 1.93% (2016)...that latter amount is an aberration as my checking account had grown surprisingly so higher withdrawals were not needed. Withdrawals in 2017 will be back up there as we had some home remodeling. Anyway, our average annual withdrawal percentage in the 18 year period, 1999 through 2016 was 4.6%, close to the plan.
From an earlier calculation, spending 2002-06 averaged $54,068, a period when low taxes began when my major Roth conversions ended, while the last 5 year period, 2012-16, it averaged $67,457....higher spending with higher portfolio growth. MY inflation was met.

To the rest of you, thank you for your kind and thoughtful comments.
I just did calculation of S&P500 average real return from 1998 to today, which is 4.5%.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by ClaycordJCA » Tue Oct 03, 2017 2:03 am

Sheepdog,

Your retirement is what I hope mine will be. Very inspirational and motivating. Thank you for posting. And now I am off to get in some steps....

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Sheepdog
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Sheepdog » Tue Oct 03, 2017 6:33 am

Rocco Sampler wrote:
Mon Oct 02, 2017 6:19 pm
Sheepdog, congratulations! I would love to hear some details on your tax plan.
Thank you.
Planning taxes, or little taxes, was a plan I had when I retired. This was and is the basic program:
I set my goal to reduce taxable income as much as possible before RMDs. When someone asks me what they should spend first in retirement, it is taxable. I did take Social Security at age 65. Maybe I should have waited, but it worked out fine at 65.
1. First, I converted my modest pension lump sum to an IRA, so it became tax deferred and it grew till RMDs would be required.
2. I had the advantage of purchasing I Bonds in larger quantities than you can today. That became about 20% of my investment worth. That increased my tax deferred accounts by reducing taxable investments when I purchased them. Over the years I redeemed the lesser interest I bonds, but I still have the 3.0% to 3.6% plus inflation bonds.
3. In those first 5 years in retirement, through age 70, I converted about 22% of my IRAs to Roth IRAs (4.5% a year) in the period when my tax rates would be much lower than before retirement. The tax bill was not huge for the future benefit of no Roth taxation for years to come.
4. In those first 5 years before RMD, beyond my SS income, I lived off of the rest of my taxable accounts so that taxable investments were reduced considerably when I reached 70.5..

To meet expenses in future years, I would sometime need more than RMDs and SS to meet my annual expenses. I would take distributions from the IRAs until taxes would be due, then I would take from the tax free Roths, if needed. (I have sometimes used the previous year's income tax software to determine if I wanted to take from a Roth account.)

So, again, from age 65 to 70, I paid some taxes during the Roth conversion, with reduced amount each year from 66 to 70. At 70, it was near zero.

The result has been that I have paid very little federal income tax since age 70 (14 years) and some years it has been zero like last year's.

Over the years the investments have grown in value and the investment mix has morphed to 31% traditional IRA, 34% Roth IRA, 20% I bonds, 15% taxable of which about half is the present value of SPIAs purchased at age 80 and 81 and the rest consists of short term bond funds, cash and CDs.
Last edited by Sheepdog on Tue Oct 03, 2017 7:12 am, edited 1 time in total.
People should not say everything they think. They should think about everything they say.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by tennisplyr » Tue Oct 03, 2017 7:09 am

Congratulations and thanks so much for sharing! We need more positivity here, the fear and angst surrounding retirement needs to be balanced by the wonderfulness and opportunity that exist--retired 6 years.
Those who move forward with a happy spirit will find that things always work out.

LukeHeinz57
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by LukeHeinz57 » Tue Oct 03, 2017 8:05 am

So thankful for the wisdom you have shared and the humble transparency with which you have done it. Congratulations on having won the retirement game! :beer
"Contentment", the only thing you ever truly need more of!

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flossy21
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by flossy21 » Tue Oct 03, 2017 8:15 am

Great post. Thanks for sharing.

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by jcjc » Tue Oct 03, 2017 10:52 am

Just want to say I love your posts! You keep it real and I love that. Congrats on a retirement well planned and many more happy successful years to you! :sharebeer

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sergeant
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by sergeant » Wed Oct 04, 2017 12:05 am

Thanks for the detailed post and congratulations. I hope to read many more updates through the years.
Lincoln 3 EOW!

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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by TravelGeek » Wed Oct 04, 2017 1:35 am

Sheepdog, you are one of my favorite posters, and this thread illustrates why. I agree with many of the other posters and aspire to follow your path into retirement, learning from your experiences. Thank you!

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Sheepdog
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Sheepdog » Wed Oct 04, 2017 4:30 pm

To all of you, thank you for the humbling "thank yous" and your comments and questions. In this thread, maybe I did actually accomplish something unplanned beyond telling my story and giving thanks to the Diehards and Bogleheads. I think that is having some of you realize that your retirement can be rewarding if you have reasonable plans, and simple plans at that, and, that you don't have to have "millions" to have a happy and successful retirement, which it seems sometimes that some feel that they must. Well, it ain't so. Happiness is in your mind and heart which would include health, nice home and good food on the table. I didn't forget family and friends. And, okay, I'll go along with you that it is nice to have some luxuries. as I certainly enjoyed mine.
God bless you all and I wish you health and happiness.
Jim
People should not say everything they think. They should think about everything they say.

Fallible
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Fallible » Wed Oct 04, 2017 4:47 pm

Sheepdog wrote:
Wed Oct 04, 2017 4:30 pm
To all of you, thank you for the humbling "thank yous" and your comments and questions. In this thread, maybe I did actually accomplish something unplanned beyond telling my story and giving thanks to the Diehards and Bogleheads. I think that is having some of you realize that your retirement can be rewarding if you have reasonable plans, and simple plans at that, and, that you don't have to have "millions" to have a happy and successful retirement, which it seems sometimes that some feel that they must. Well, it ain't so. Happiness is in your mind and heart which would include health, nice home and good food on the table. I didn't forget family and friends. And, okay, I'll go along with you that it is nice to have some luxuries. as I certainly enjoyed mine.
God bless you all and I wish you health and happiness.
Jim
The happiness and gratitude part of your posts, rather than an emphasis on the amount of money made, made them a delightful read for me. It's proof that money is a means to an end, not the end. Thanks for sharing.

Btw, every time I see your beautiful dog at the computer, I think this must be one of the dogs that no one knows is a dog on the Internet.
Bogleheads® wiki | Investing Advice Inspired by Jack Bogle

Levett
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Levett » Wed Oct 04, 2017 6:26 pm

I second Fallible, Jim.

Your post is a "gem."

Lev

highercall
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by highercall » Wed Oct 04, 2017 7:28 pm

I too will chime in and say thank you for sharing your experience. It has been a great blessing to be a part of the Boglehead forum. Not only have I learned much but the encouragement of knowing the experiences of others has kept me from making some foolish financial mistakes. Such as thinking I can beat the market by trading rather then think through a plan and stick with it long term with index funds. It would be interesting to have a thread of others willing to share their financial experience in retirement. Thanks again Sheepdog for sharing. Blessings to you.

hale2
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by hale2 » Wed Oct 04, 2017 8:24 pm

Sheepdog,

Thank you for this outstanding post. I will reread this on occasion, like I do your post on how you handled things during the Great Recession. As I approach full retirement, both of your posts have been very helpful in developing my own plan.

Yukon
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Re: Retirement Class of 1998 (Sheepdog's Experience)

Post by Yukon » Wed Oct 04, 2017 8:37 pm

I, too, thoroughly enjoy Sheepdog's posts. Thanks for sharing.
Don't Work Forever.

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