Retirement

[ExiledInIllinois]

7 minutes ago, MarkyMannn said:

Invest in growth and technology funds. Also if stocks are part of your game, subscribe to Motley Fool. I've both TDA & Fidelity.  IDK crypto will grow but be careful it's volatile. I took SS at 65 and full benefits was 66 &4 months. The crossover was 80. Screw that.

+1

 

I figure mine will be 75 years old on the free money between 56 and 62. I will take the bait and they can push me out the door at 56. 

 

I can see waiting a few years... But not 13. I can buckle down in my old age, if I make it that long.  I will just turn off the heat, eat soup and get down to 175 pounds... Isn't that what the elderly do?😏🙄

[MarkyMannn]

1 hour ago, ExiledInIllinois said:

 I can buckle down in my old age, if I make it that long.  I will just turn off the heat, eat soup and get down to 175 pounds... Isn't that what the elderly do?😏🙄

Soup?? You mean Alpo! You know what I worked so long and supported so many of society's people thru my taxes, if I run out of money, then the gov't can support me.

[Guffalo]

On 11/12/2021 at 7:32 PM, Chef Jim said:

 

I have a really good planner.  Dude is amazing!!  

 

BTW it was threads like this that prompted me to start my "Thanks for the advice but I don't need any advice" campaign.  😂

An ex line chef as a financial guru? Next thing you know we will hear about your amazing ability to open locked trunks.....

 

Seriously, we started in mid 80's maxing out our 401ks and 403Bs, as mentioned before, the power of compounding over the years is amazing. We are just about ready to retire, I have already started my retirement, and we expect my wife to retire at the end of next year. We have had the funds in the Transamerica and Fidelity funds over the years, last year we consolidated all of them to Fidelity with the exception of a portion that had to remain in her current employers Transamerica account. Fidelity is our custodian, and Fisher Investments manages the funds. We are a bit conservative, but Fisher has done a great job for us over the last year. With no new cash in, and only their fees and a small monthly withdrawal we are taking, we are still doing better than either of the various funds we were in would have done. It's never too late to start, a few years of discipline and it will add up. Good luck

[Chef Jim]

2 minutes ago, Guffalo said:

An ex line chef as a financial guru? Next thing you know we will hear about your amazing ability to open locked trunks.....

 

Seriously, we started in mid 80's maxing out our 401ks and 403Bs, as mentioned before, the power of compounding over the years is amazing. We are just about ready to retire, I have already started my retirement, and we expect my wife to retire at the end of next year. We have had the funds in the Transamerica and Fidelity funds over the years, last year we consolidated all of them to Fidelity with the exception of a portion that had to remain in her current employers Transamerica account. Fidelity is our custodian, and Fisher Investments manages the funds. We are a bit conservative, but Fisher has done a great job for us over the last year. With no new cash in, and only their fees and a small monthly withdrawal we are taking, we are still doing better than either of the various funds we were in would have done. It's never too late to start, a few years of discipline and it will add up. Good luck

Well actually I am a financial guru of the highest order.  And that means total planning. Unlike Fisher.  They suck. LOL. 

[Poleshifter]

On 11/12/2021 at 6:48 PM, unbillievable said:

 

I was looking into buying gold/silver but it felt like a scam. Worse than stocks.

 

1) you pay a premium. (You start out in a hole)

2) the market is flooded with fakes. Have to find a reputable dealer

3) Storing the stuff is a pain. Need home security. or pay a bank.

4) You have to find a buyer (easier to sell stocks)

5) you have to authenticate that your gold is real.

 

Am I missing something?

 

 

 

I find it funny that you can buy stocks in precious metals..

You pay a premium? My sister bought silver locally (Hunt) and paid like $12-13/oz premium. That's how you start out in a hole.

 

Go to JMBullion.com or SD Bullion (cheaper and slower) and silver was $3-4/oz above spot price. These are reputable dealers, so no fakes. Bars and rounds are minted by some well known mint.

 

Easier to sell stocks? Are you kidding me?

 

Are you missing something? I think so.

[Augie]

I have a peanut can covered in felt making a smiley face my son made in kindergarten. It is FULL of change, I mean a bunch of quarters in there! Plenty to buy quite a few Powerball tickets. That and a few Mead Coins and I think I’m set. 

 

 

….but I could be wrong.   🤷‍♀️

[BuffaloBill]

On 11/11/2021 at 11:13 PM, BringBackFergy said:

Pay yourself  your hookers first. 

 

 

Fixed it for you - we prefer that you tell the truth on your personal financial matters. 

[Augie]

21 minutes ago, BuffaloBill said:

 

 

Fixed it for you - we prefer that you tell the truth on your personal financial matters. 

 

AND, this is important so pay attention @BringBackFergy, do NOT pull a Jerry Springer and pay the hooker with a personal check. ESPECIALLY if you are planning to run for public office! We want you to be truthful, not STUPID. We are here to help. 

 

 

.

Edited November 28, 2021 by Augie

[BuffaloBill]

59 minutes ago, Augie said:

 

AND, this is important so pay attention @BringBackFergy, do NOT pull a Jerry Springer and pay the hooker with a personal check. ESPECIALLY if you are planning to run for public office! We want you to be truthful, not STUPID. We are here to help. 

 

 

.

 

 

Do you really think any (wanna be) politician would ever be involved with hookers? What’s next, are you going to claim that about a third of congress is coked up?

[Augie]

19 minutes ago, BuffaloBill said:

 

 

Do you really think any (wanna be) politician would ever be involved with hookers? What’s next, are you going to claim that about a third of congress is coked up?

 I’m not crazy, they are our elected leaders!

 

 

 

I’d put it north of 50%, with about 25% on psychedelics. You know, give or take…….

[muppy]

https://moneywise.com/a/ch-c/20-inexpensive-places-to-retire-in-the-us/p-20?utm_source=mnd&utm_medium=Desktop&utm_campaign=mnd_frugalretireaug&utm_term=mnd_frugalretireaug_msnriver&utm_content=mnd_frugalretireaug_msnriver_v1

 

An article I saw regarding inexpensive places to retire. I raised my eyebrow at a couple of them but take it for what its worth.

[Tiberius]

On 11/11/2021 at 10:45 PM, Dr Krentist said:

Anyone have a retirement fund? I'm 40 and am finally thinking about opening a Roth IRA. All I have is profit sharing with my job. What company do you invest with? Likes/Dislikes? Any tips would be greatly appreciated.

Vanguard Total Stock Market. VTI 

 

10-12% return on average per year. It invests in the top 3,000 companies on the exchange. You will double your money about every six and a half years 👍

[The Frankish Reich]

Doing some end of the year tax planning here (and some pre-retirement thinking to ... maybe a couple years or so for that), so I'll chime in with a few thoughts:

- Good advice from people who say don't overthink it. Go with Fidelity, Vanguard, Schwab, something like that for your 401K, and at your age keep it index fund heavy. Check out the standard portfolio distributions based on your age/how long you plan to work and keep more or less in those ranges.

-  If I had to do it over again, I'd max out whatever Roth IRA contributions I could make. I got into Roths when my income was technically too high to qualify. Just google "backdoor Roth" and you'll find the workaround for this. Just make sure to do it in lockstep with what the sites recommend (it requires moving money twice). If your income isn't too high, the Roth is really easy. You put in post-tax dollars so your earnings (and what you put in) will theoretically never be taxed.

- I say "theoretically" because the big wild card is what future congresses will do with taxes. A lot of people recommend putting off taking social security until you're 70 I disagree. I will take it as soon as I can. Whatever age you start taking it, on average it works out as the same benefit over your lifespan. So why take it early? Because I don't trust that it won't be means tested later on. Congress almost never takes away a benefit you're already receiving. It's easy to take away (or limit) a benefit you haven't started taking yet.

- Boring old guy advice: right now Savings Bonds are a ridiculous 100% safe investment paying an annualized rate of 7.12%. Check it out. 7.12%. There's an interest penalty if you withdraw early, but even if you have to you're way, way ahead what any other "cash" investment would pay. Limit of $10,000 per person (not couple) per year. I just did 10K for me and 10K for my wife, and will go back and do the same in January.

- More boring old guy advice: if you are in NY particularly and you are looking to make some income off investments, municipal bond funds can be a great option. No state or federal tax. So you may see a low dividend rate like 3 percent, but find a municipal bond equivalent rate calculator on the internet - because it's tax free, that 3 percent can easily be the equivalent of 5 percent in a normal bond/CD, etc. This is probably better for older people trying to hold onto a nest egg who can't stand to see inflation whittle away their savings while those savings earn 0.5 percent or less in a bank. But google "interest rate risk" too. Nothing (except those Savings Bonds!) is really without risk.

I got serious about savings when I was about 40. Wish I'd done it earlier, but I'm in good shape now in my late 50s. Good luck!

[Poleshifter]

8 minutes ago, Tiberius said:

Vanguard Total Stock Market. VTI 

 

10-12% return on average per year. It invests in the top 3,000 companies on the exchange. You will double your money about every six and a half years 👍

If you want to get rich quick, forget the stock market. It is so manipulated by the big guys, such that the little guy will never make more than peanuts.

 

If you want to make big money honestly, here is the deal, but you must act soon.

 

If you are in NYS, exchange choices are very limited, so open an account at Coinbase. Use a debit card, and buy some Stellar Lumens (also known as XLM). Using a debit card should allow you to move your XLM right away (otherwise, with credit card you have to wait several days)

 

Where to move your XLM? Open a Lobstr account, and you will be able to move your XLM here.

 

Once you get your XLM into Lobstr, you can swap it for XRP. (yes, this is a way to buy XRP now). You can make huge profits on XRP, but you can't fart around and do this next week. Time is of the essence.

 

Why listen to me? I'm not a line chef, after all. Just a retired software engineer with a masters degree. That doesn't prove anything, but I know a few things most people do not know. I expect to be very rich very soon.

 

You can do this with $100 or even $50, I suppose. It depends on how rich you want to be. 

 

The stock market will soon crash, so you could be left with nothing. Bitcoin will soon go to ZERO because it is not ISO 20022 compliant. Ethereum gone too. Do a little research on the Quantum Financial System to see what I mean.

 

You can PM me if you wish.

[muppy]

49 minutes ago, Poleshifter said:

If you want to get rich quick, forget the stock market. It is so manipulated by the big guys, such that the little guy will never make more than peanuts.

 

If you want to make big money honestly, here is the deal, but you must act soon.

 

If you are in NYS, exchange choices are very limited, so open an account at Coinbase. Use a debit card, and buy some Stellar Lumens (also known as XLM). Using a debit card should allow you to move your XLM right away (otherwise, with credit card you have to wait several days)

 

Where to move your XLM? Open a Lobstr account, and you will be able to move your XLM here.

 

Once you get your XLM into Lobstr, you can swap it for XRP. (yes, this is a way to buy XRP now). You can make huge profits on XRP, but you can't fart around and do this next week. Time is of the essence.

 

Why listen to me? I'm not a line chef, after all. Just a retired software engineer with a masters degree. That doesn't prove anything, but I know a few things most people do not know. I expect to be very rich very soon.

 

You can do this with $100 or even $50, I suppose. It depends on how rich you want to be. 

 

The stock market will soon crash, so you could be left with nothing. Bitcoin will soon go to ZERO because it is not ISO 20022 compliant. Ethereum gone too. Do a little research on the Quantum Financial System to see what I mean.

 

You can PM me if you wish.

Godspeed fellow 2bd poster I root for your success always in all ways. everyone really. I'm going to pass this by hubby and our financial guy in whom we have great trust. 

 

m

[Poleshifter]

2 hours ago, Muppy said:

Godspeed fellow 2bd poster I root for your success always in all ways. everyone really. I'm going to pass this by hubby and our financial guy in whom we have great trust. 

 

m

Thanks for giving it your consideration. I did mention that time is short. There are some big events coming which will change the whole world, including the financial system. Once that new QFS comes in, the price of XRP goes way up (as well as gold/silver prices) and this opportunity fades away.

 

Sorry to make it seem like a high pressure sales pitch! You could get started with $100 before your finance guy gets back to you. Not much risk in that.  Well, $100 can be a lot for some folks' circumstances.

[ICanSleepWhenI'mDead]

So where are all the customer's yachts?

[Your Brown Eye]

13 hours ago, Poleshifter said:

Thanks for giving it your consideration. I did mention that time is short. There are some big events coming which will change the whole world, including the financial system. Once that new QFS comes in, the price of XRP goes way up (as well as gold/silver prices) and this opportunity fades away.

 

Sorry to make it seem like a high pressure sales pitch! You could get started with $100 before your finance guy gets back to you. Not much risk in that.  Well, $100 can be a lot for some folks' circumstances.

 

 

These "big events" are what?

[Captain Caveman]

I've been socking away pretty much the maximum + my company's generous matching since about 2006.  I'm now 42 and should be able to retire by (or before) 50.  Start as early as you can, put away as much as you can - have it deducted directly and never change it (other than increasing if it's not already at the maximum.). 

 

As others have mentioned, use either index funds or age based target funds.  I always keep everything in the most aggressive funds.  It should earn the most over time, although there will also be bigger losses during down periods.  If you're going to do this, you need to be disciplined and not move from those funds when the downswings inevitably happen.

[\GoBillsInDallas/]

On 11/11/2021 at 9:45 PM, Dr Krentist said:

Retirement