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Old 07-19-2014, 09:08 AM
 
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Originally Posted by mathjak107 View Post
correct again .
As the implementation stage of our retirement is starting to wind down I have changed a lot of my pre-retirement thinking. I would now suggest that how much you need in retirement is best answered by never dwelling on or asking yourself the following question. What could I/We have done differerently, what domain wish had never happened. If you never question the rear view mirror your current path is probably enough. Could we have had more? Sure! Could we have less? Of Course! Are we loving life? Yup!= We have enough. Were the folks telling me I needed more of any help? Gosh Darn Yes. In my book retirement finance security for 99% is hard to over do and is appreciated once we get there. However it is individual in planning, implementing and living. May we all be successful with plans whatever they are. Again future events may change things and we may wish we had more but we can only live in the now.
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Old 07-19-2014, 01:25 PM
 
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i like that thinking because i know i do kick myself for doing one thing over another at times ,after the fact.
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Old 07-19-2014, 01:43 PM
 
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Originally Posted by mathjak107 View Post
i like that thinking because i know i do kick myself for doing one thing over another at times ,after the fact.
Again, as I have told you before wait until you have been fully retired about five years and most of your plans have kicked in. I understand where you are now but just wait for full retirement and the income streams having kicked in for a while.
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Old 07-20-2014, 05:56 AM
 
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we will be supplementing from them now as marilyn and i now work only part time
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Old 07-20-2014, 06:12 AM
 
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Originally Posted by mathjak107 View Post
we will be supplementing from them now as marilyn and i now work only part time
Not part time but full time retired and kicked back. Our air conditioning at the beach kicked out last night and the cost of possible repair not an issue. Just get it fixed and back to expected beach life. You will be enjoying and wanting cruise control because you have earned it. You are also wise enough to enjoy it while you can.
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Old 07-20-2014, 06:27 AM
 
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we have been booking and preparing for lots of trips. headed to montreal in two weeks .

your ac crapping out is an example of the stresses we want to avoid in retirement just by having that extra powder dry. folks question why so much savings not needed but wanted in retirement? there is your answer.

nothing is a problem as long as you have the money to deal with the issue. you didn't bat an eye , will fix it and life goes on. but for someone who planned tight to the budget with little descretionary income that repair could have been grief. many times these expenses create either or situations where dealing with the expense is at the cost of not doing something else.
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Old 07-20-2014, 06:37 AM
 
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Originally Posted by mathjak107 View Post
we have been booking and preparing for lots of trips. headed to montreal in two weeks .

your ac crapping out is an example of the stresses we want to avoid in retirement just by having that extra powder dry. folks question why so much savings not needed but wantedein retirement? there is your answer.

nothing is a problem as long as you have the money to deal with the issue. you didn't bat an eye , will fix it and life goes on. but for someone who planned tight to the budget with little descretionary income that repair could have been grief. many times these expenses create either or situations where dealing with the expense is at the cost of not doing something else.
Bada Bing and you have investments organized and set up, health care plan, contingency plans, sets the plan etc. your net worth regardless of dollar amount is what you need to not have to look back. Many others are also and it isn't the dollar amount that is the most important. I would say it is the adequacy of that plan to enable you to kick back and enjoy your DESIRED lifestyle.
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Old 07-20-2014, 06:43 AM
 
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yes , the "kick back " as you call it and the stop worrying about every unplanned expense or market hicup is the goal .

so many plans like my wifes sister's who just had her husband have a stroke have done okay on the income side but failed on the mitigation of risks like long term care protection , or long term care at home or the continued un adjusted income in extended downturns .

in the blink of an eye those plans went poof .

it is all well and good we accumulated assets but now the trick is protecting them and our income from as much risk as is feesable. unless you have so much free cash flow if needed that you can self insure for all these things. i know i can't.

the real base of any plan should be risk mitigation. that is where the insurances , spare cash and guarantees protect a lot of what is above them. but that is exactly where most folks fail and drop the ball.


they should be using a little bit of what those assets generate to protect them.

they devote every penny to trying to grow richer and not enough is planned around not growing poorer. they are not the same thing. if they think getting protection and or guarantees is costly wait until you see the costs of not having certain things in place if the need should arise.

Last edited by mathjak107; 07-20-2014 at 07:11 AM..
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Old 07-20-2014, 07:25 AM
 
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Quote:
Originally Posted by mathjak107 View Post
yes , the "kick back " as you call it and the stop worrying about every unplanned expense or market hicup is the goal .

so many plans like my wifes sister's who just had her husband have a stroke have done okay on the income side but failed on the mitigation of risks like long term care protection , or long term care at home or the continued un adjusted income in extended downturns .

in the blink of an eye those plans went poof .

it is all well and good we accumulated assets but now the trick is protecting them and our income from as much risk as is feesable. unless you have so much free cash flow if needed that you can self insure for all these things. i know i can't.

the real base of any plan should be risk mitigation. that is where the insurances , spare cash and guarantees protect a lot of what is above them. but that is exactly where most folks fail and drop the ball.


they should be using a little bit of what those assets generate to protect them.

they devote every penny to trying to grow richer and not enough is planned around not growing poorer. they are not the same thing. if they think getting protection and or guarantees is costly wait until you see the costs of not having certain things in place if the need should arise.
Asset allocation volatility level is individual and situational. A large amount of cash can be a great tamper on volatility and serve as a great reserve fund. It can enable you to be riskier in your other investments and provide you a great emergency cushion. A lot depends on your fixed income streams and the certainty of them. Unfortunately the dynamics of our elected leaders has just about removed any ability to be certain and plan moving forward. Just ask corporate America which is fleeing to inversions and getting the heck out with their money.

US Companies' Tax Inversion Strategy Picks Up Steam
Quote:
A growing number of U.S. companies are looking to trim their tax bills by combining operations with foreign businesses in a trend that may eventually cost the federal government billions of dollars in revenue.
Corporate Inversion Definition | Investopedia

Definition of 'Corporate Inversion'


Quote:
Re-incorporating a company overseas in order to reduce the tax burden on income earned abroad. Corporate inversion as a strategy is used by companies that receive a significant portion of their income from foreign sources, since that income is taxed both abroad and in the country of incorporation. Companies undertaking this strategy are likely to select a country that has lower tax rates and less stringent corporate governance requirements.
I am not sure where folks expect this Medicaid money to come from in 10-20 years to pay their nursing home costs and provide health care to the poor at the same time.
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Old 07-20-2014, 07:26 AM
 
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i guess if we stop wasting money blowing up things with missles and bombs we would have quite a bit for medicaid use.

but heck , we got missles and bombs right in our national anthem.

large cash amounts are comforting to our minds and stomachs as i said and i intend to have a buffer. but from a financial standpoint they provide no real advantage.

the fact is whatever the the return on the mix of assets you hold is what you get no matter how you store it or spend it.,.. a 60/40 mix whether divided up in to spending buckets or spent from the entire pie equally keeping your origonal allocations will produce the same results.

the buckets though actually get more volatile as you spend down. as you get closer and closer to emptying cash buckets your allocation to equities gets higher and higher until the day comes you sell some off and refill.

following ray lucia's 15 year time frame for buckets you could find yourself 80-90% equities at 80 years old if you drew down your cash and bond buckets but have not refilled yet.. talk about a wild roller coaster ride.


there really is no foolproof way of drawing down. we just do what makes our mind more comfortable.

Last edited by mathjak107; 07-20-2014 at 08:06 AM..
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