Results 14,751 to 14,775 of 18222
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10-04-2021, 02:47 PM #14751
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10-04-2021, 03:02 PM #14752Registered User
- Join Date
- Jan 2010
- Location
- your vacation
- Posts
- 4,749
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10-04-2021, 03:19 PM #14753
You know what's funny about your 8% talk? Well, besides unexpected major illness and/or death, instantly muting the argument. Which happens a whole lot post 70 for, at least, men. COLA. SS will go up 5.1% next year, rumor has it. Thanks, inflation. I'll buy another beer in the Dolomites. Cause that's what it is. Beer money. So to speak. I mean, I know that half of Americans in or near retirement will only have SS. Not the TGR demographic, but, half of Americans is a lot, and woe to them. It isn't or won't be easy, but, what's the alternative for so many discarded, like Pynchon said, metal turnings on the shop floor of capitalism. And they have no voice, because they have no money. Nobody cares. and most are too embarrassed to think beyond day to day. I mean, why would a financial advisor talk to them? They have no money.
I like to think that financial advisors are like active fund managers. They have enough personal self esteem that they feel that they can do what nobody else can, and that's beat the market long term. They think they can bring value to the proposition, a secret trick, just like the private school their clients get fleeced for their kids. Gotta be an angle. But, in the end, there ain't. It's real simple, real obvious, been stated over and over. Sorry. So, why should anybody pay for that?
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10-04-2021, 03:49 PM #14754
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10-04-2021, 04:07 PM #14755
Shit, I already won that one. Homemade.
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10-04-2021, 04:13 PM #14756
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10-04-2021, 04:33 PM #14757I like to think that financial advisors are like active fund managers. They have enough personal self esteem that they feel that they can do what nobody else can, and that's beat the market long term. They think they can bring value to the proposition, a secret trick, just like the private school their clients get fleeced for their kids. Gotta be an angle. But, in the end, there ain't. It's real simple, real obvious, been stated over and over. Sorry. So, why should anybody pay for that?
People pay me a lot of $$$ to do what I do because they don't have the background or knowledge and its money well spent. I pay a cut to my FA because of those very same reasons. For me it has been money well spent.I have been in this State for 30 years and I am willing to admit that I am part of the problem.
"Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"
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10-04-2021, 04:35 PM #14758
In simple terms yes, but there is much more to it. Taxes for one. Like I said, if you have cash that's already been taxed to draw down it's a simple decision. You need to calculate what you need to live on and work off that number. It's not about when you pass.
For example, I took the Covid 19 401k withdrawal and also took monthly 401k systematic withdrawals so I could get a mortgage and have cash to live on. After I got the mortgage I paid back the 401k withdrawals to lower my tax burden. With interest rates so low it works to have a mortgage and use the cash to postpone taxes.
This is why it pays for me to postpone SS. When I do claim it I can lower my systematic withdrawals to again, mitigate taxes. The bottom line is, if I wait to claim SS it will pay all my monthly fixed expenses, plus change, so my 401k withdrawals can be managed to minimize taxes.
I know that a mortgage is not tax efficient when you are minimizing income but I'm calling that a luxury to live where I want in a house I like.
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10-04-2021, 04:42 PM #14759
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10-04-2021, 04:53 PM #14760
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10-04-2021, 05:02 PM #14761
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10-04-2021, 05:10 PM #14762
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10-04-2021, 05:21 PM #14763
I do know how much it is. I know you need the $900 a month in SS now to get by but don't equate that as a wise financial decision for others. An extra $125k over 4 years doesn't matter that much to me in the long term. Knowing that I will have x per month guaranteed in a few years goes a long way with planning. Initially I was going to take SS early but it just doesn't pencil out or make any sense in a long term plan considering how low interest rates are now and taxes.
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10-04-2021, 09:11 PM #14764
Jeebus, you’re fucking dense.
Equating an active fund manager and an Adviser tells a lot about your knowledge of the profession. Investment management is one tiny sliver of the value pie that clients get from me. Apparently they’re all so stoopid for entrusting me with their millions when they could do it themselves and have to take SS early because they don’t know WTF they’re doing.
I’ll give you $100 dollars if you can pass a CFP practice test on the first shot. You pass the CFP test in three tries, I’ll give you $1,000 and reimburse all of your exam fees. Now STFU and go back to DCA…oh wait you don’t have any money to invest because you’re already living on your reduced SS payment and clearly bitter that you made poor financial decisions throughout your life. Let me guess, it’s all the market’s fault.
Sent from my iPhone using Tapatalk
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10-04-2021, 09:16 PM #14765
This!
Until RMDs kick in and you’re forced to pay the man. Would be interesting to see what a 401k rollover and Roth conversion would do in early retirement years or from 70-72 when you’re hopefully only taking SS income. Plenty of ways to model it and be efficient as possible.
Sent from my iPhone using Tapatalk
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10-04-2021, 09:20 PM #14766
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10-04-2021, 11:13 PM #14767
Can I bring my slide rule?
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10-04-2021, 11:55 PM #14768
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10-05-2021, 05:35 AM #14769
I am entertained. Thank you.
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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10-16-2021, 08:12 AM #14770
Just checking in.
As expected volatility has come down. Im 10% short. 90% long. In last while shorted runners like Prog Mrin. Covered already.
Took long position in T. That 5.5% dividend attracted me. Filed away with xom irm and their like for high yields and dividends.
Increased my yolo on Riot. Also took long position in HUT as another crypto miner.
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10-16-2021, 11:08 PM #14771
I bought T this week too. Bought some VZ too even though I hate the company now (I’m a customer fwiw)
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10-17-2021, 09:05 AM #14772
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10-17-2021, 09:37 AM #14773
But what does it mean?
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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10-17-2021, 01:44 PM #14774Registered User
- Join Date
- Feb 2017
- Location
- truckee
- Posts
- 2,029
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10-17-2021, 02:36 PM #14775
I guess so
Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
Henry David Thoreau
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