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Wash Rule details
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Will expensive home price...
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Did you or will you move ...
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Do you invest in gold?
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  Did you or will you move to another state when you retire? If so why?
Posted by: jeinco - 01-03-2021, 02:38 PM - Forum: Taxes - Replies (1)

To be with family?

To escape state income and property taxes?
What other reasons?
If you did move; what were the pros and cons?
Any regrets?
I'm dying to leave NJ, but I have to convince my husband.

  Income Stream for Retirement - for a Non Investor
Posted by: jeinco - 01-03-2021, 01:40 PM - Forum: Retirement - Replies (1)

I would love your expert and non-expert points of view on the following!

A 74yo who worked their entire life paycheck to paycheck.  Retired <10 years ago and started drawing on Social Security.  Inherited $500K but has never owned a stock or mutual fund in their life.  Owns home outright.  All dollars are held in bank or CD, so are in taxable accounts.
She would like capital preservation and income, but obviously does not want to take on a lot of risk.  She also won't trust anyone else with her money (but is willing to "try" investing a piece of it in Mutual Funds, ETF's, or Div stocks -- but not all of it) .... what investments and asset allocation of each would you recommend, whether she chooses to put $50 or $300K to work to generate income.  She had an annuity valued at $700/month that is expiring next month .... and has come to the realization that no banks are paying any interest so will need to start withdrawing from principal. 
No pension, 401k, or other retirement funds ...
Her living expenses are currently approximately $24K per year.
Thanks in advance - would love as much detail and perspective as you're willing to offer!  Happy New Year!

  Should I consume my Estate? Why?
Posted by: jeinco - 01-03-2021, 01:39 PM - Forum: Estate - No Replies

I was watching Bloomberg a few days ago and an analyst/guest made the observation/lament that many retirees were not even touching their nest eggs, but accumulating even more.  He fretted over the effect on the economy and felt that more education was needed so that retirees might live and enjoy life better.  It seems we have a duty to consume our wealth before we go.

I am wondering if any in this forum has an active plan to consume your Estate and what your guidelines are,   I know about the 4% rule etc..and I get that for some it's a necessity.  I really want to hear from people who are executing this approach voluntarily and why (you enjoy giving, the lifestyle, the tax benefits, etc)..
Full disclosure, I will have more when I die than I do right now.. I live well but my wife and are frugal by almost any definition (and enjoy being so) .. I invest for my kids, grand-kids, and eventual charities, and because I enjoy investing more than most other forms of entertainment.  So for me, a case for running down my assets would mean bigger distributions to my kids and to charities.  With holding from my kids is part of their life learning (in the near term), but I can see the benefit of giving more to charities while I'm alive (I get to enjoy the thank yous and see results)..
Would appreciate some viewpoints on this.  Thanks in advance.

  How are you managing (or did you manage) your debt situation?
Posted by: jeinco - 01-03-2021, 01:38 PM - Forum: Savings - No Replies

Chances are that you or someone you know found themselves in debt somewhere along life's journey. For some, its a short term means to goal or phase in life. For others, trying to become debt-free can be like trying to climb out of a hole that's only getting deeper.

Regardless of whether current or a thing of the past, please consider sharing your experiences managing your debt situation.  Details that might help community members better understand your scenario might include:
  • How much debt you currently have or had?
  • The methods you've used to reduce your debt, as well as what did/didn't work well
  • What lessons did you learn along the way that you wish you had known earlier?
Help your fellow community members to potentially generate ideas or learn better methods to manage and hopefully reduce their debt by including as much detail your comfort level will allow.

  Alternatives to Low Yielding Bond Funds
Posted by: TrMama - 12-28-2020, 08:20 AM - Forum: Bonds - No Replies

At this time, I just don't see any good reason to hold most highly recommended and highly rated intermediate core/core plus bond funds with their low SEC dividend yield, now usually in the 1 - 2% range. An exception are multi-sector bond funds like PIMIX and TSIIX, for example, that may eke out total returns greater than their SEC yield.

As a retired and somewhat conservative investor, I have been looking for other low volatility options that may offer more competitive total returns in the current low interest rate environment. I have come across a promising alternative fund like ARBIX (SD = 2.94%), and also two allocation funds along the lines of the former BERIX fund, i.e., before it changed ownership, that usually had a small equity exposure of around 20%. The two funds are FIKFX (SD = 4.13%) and VASIX (SD= 4.72%).
I would appreciate any comments or suggestions for any additional fund options along these lines.
Thank you,

  Irrevocable Trusts for Great Grandchildren Not Yet Born
Posted by: TrMama - 12-28-2020, 08:07 AM - Forum: Estate - No Replies

I would like to create an irrevocable trusts for great grandchildren yet born to help fund future generations' college costs.  Is that wise?

  Social Security Optimization
Posted by: TrMama - 12-28-2020, 08:03 AM - Forum: Social Security - Replies (1)

I am trying to figure out if my wife takes early social security distribution at 62 will affect her taking spousal social security later on when I am ready to retire.   My wife is a few years older than me and earns a lot less than me.   I still have 8 more years before I get to full retirement age.    My wife can start taking early social security distribution next year.   I know if she takes early social security distribution, her benefit will be reduced by 30%.    Will that affect her ability to draw spousal distribution 8 years later?   Will she be able to still get 50% of spousal based on mine?   Or will her spousal benefit be reduced when she switches to spousal benefit later?

  Has anyone heard of this new bank called HMBradley? 3% interest
Posted by: TrMama - 12-28-2020, 07:57 AM - Forum: Savings - Replies (1)

I first heard about it in this article: HMBradley – Start saving your way to 3% APY

This just sounds a little odd to me.  Thoughts?

Too good to be true?

  I'm doing it, I planned it for years.
Posted by: TrMama - 12-28-2020, 07:50 AM - Forum: Retirement - Replies (2)

I'm doing it and its done. Almost!

For my whole life (I'm 54) I have been saving and saying some day I will build the house that I want (3br 3 car garage with a big yard) well I signed the papers on the house and its being built, within a year I will be moving into my new home and leaving work. Now the hard part starts. I plan to start spending the money I have saved up. I hope I can do it. It goes against my nature, I know its a mental hurdle and I need to tell myself I can spend some I will be fine. I have been trying to change my way of thinking slowly. for the first time in my life this month I stopped all investments. No more contributing to 401K, IRA, ROTH or stocks nothing, I'm not even reinvesting the dividends. I'm going cold turkey. Come next month all that money stays in my account. 
When you retired how were you able to get over the mental block and start spending what you worked so hard for? Any tips, suggestions, ideas? How did you do it and how are you dealing with it?
I know next year when I see all that money just sitting in the account no doing anything that's going to be a challenge not investing it.

  Social Security Announces 1.3% COLA for 2021
Posted by: SilverAg47 - 12-28-2020, 07:37 AM - Forum: Social Security - Replies (1)

The Social Security administration announced today (10/13/2020) that Social Security benefits will increase by 1.3% for 2021.

Press Release | Press Office | SSA

While this is better than I had expected earlier in the year (after COVID, and the official inflation of nearly zero in the early months), I already know that my Medicare Part D (drug) plan’s premium will increase by 8% for 2021.  I haven’t yet heard about the increase in my Medicare Supplement Plan premium, nor has Medicare yet published the standard Part B premium amount for 2021, but the dollar amount of my SS COLA for 2020 (which was 1.6% over the 2019 SS benefits) was just enough to cover the increases in my Part B, Part D, and Medicare Supplement premiums, with nothing left over for the increased costs of other necessities.

If you know your Part D and Medicare Supplement premiums for 2021, how do the increases compare to the Social Security increase for 2021?  Will the dollar amount of your SS COLA cover the increases in your medical insurance premiums, and leave something over for other cost-of-living increases, such as food?