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Old 04-26-2015, 01:20 PM
 
Location: Great State of Texas
86,093 posts, read 72,631,548 times
Reputation: 27566

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Quote:
Originally Posted by TuborgP View Post
If they believe that they clearly are not reading the news or following the political path of cutting Medicaid and the fact it is a major stress on many state budgets. Not sure how many want to be 85 and competing with a 4 year old for Medicaid dollars.
Covered California Faces $78M Deficit in FY 2015-2016 Budget - California Healthline
I have to lol at that.

There is currently a bill in CA to expand Covered California to allow illegals to sign up also sign up for the state's medicaid program.


California Bill Would Extend Health Insurance to Undocumented Immigrants - NationalJournal.com
The measure from Democratic Sen. Ricardo Lara would change state law to allow illegal immigrants access to Medi-Cal, the state's Medicaid program. It would also direct the state Health and Human Services Agency to seek a waiver from the federal government to allow illegal immigrants to enroll in the state's exchange, Covered California.
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Old 04-26-2015, 01:23 PM
 
71,977 posts, read 72,020,102 times
Reputation: 49554
Quote:
Originally Posted by TuborgP View Post
Sorry, but you and I read the Fidelity recommendations differently. You read it as portfolio dedicated to generating the money. I read it as a portfolio of at least that amount already there at retirement and available for use as needed without any other demands on. Two different roads to the same destination but I know you are already at that point and have it available now.
i would think folks typically just include it in the budget and then draw off the yearly income to pay all expenses no different than a pay check.

i don't consider any part of our portfolio earmarked for a specific thing. all the expenses are totaled and whatever income and principal it takes to pay that year is drawn out.
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Old 04-26-2015, 01:25 PM
 
29,838 posts, read 34,929,245 times
Reputation: 11766
Quote:
Originally Posted by mathjak107 View Post
i would think folks typically just include it in the budget and then draw off the yearly income to pay all expenses no different than a pay check.

i don't consider any part of our portfolio earmarked for a specific thing. all the expenses are totaled and whatever income and principal it takes to pay that year is drawn out.
Ummmm and is your budget draw down based on your total portfolio or part of your non housing wealth? Also you have percentage of working year income at or above the financial industry recommended percentage levels.
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Old 04-26-2015, 01:26 PM
 
Location: Amongst the AZ Cactus
7,074 posts, read 4,939,847 times
Reputation: 7701
Quote:
Originally Posted by TuborgP View Post
If they believe that they clearly are not reading the news or following the political path of cutting Medicaid and the fact it is a major stress on many state budgets. Not sure how many want to be 85 and competing with a 4 year old for Medicaid dollars.
Covered California Faces $78M Deficit in FY 2015-2016 Budget - California Healthline
Wow, I'd think that would be like saying ssn will no longer exist to another voting population segment. Many of those officials who vote for such a bill in certain districts won't be back in office and they know it. I'm afraid the cat is out of the bag with many of these programs that have gotten out of hand and it will be hard to reign any of them back to any large degree and I'd bet on seeing them being expanded before anything. Deficits/runaway debt? Eh.....who needs to worry about such silly things anymore?
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Old 04-26-2015, 01:28 PM
 
71,977 posts, read 72,020,102 times
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draw down is based on both the discretionary and non discretionary spending we set for the year.

we worked off desired budget rather than maximum safe withdrawal rate the portfolio may be able to withstand.

based on portfolio value we could likely set a higher draw but we have no need to as our budget even includes a fair amount of travel allocated .

if i take early ss withdrawals are in the 2.80% range which for a 50/50 mix are low.

we may be buying a co-op next year out right so that will pull a big chunk of dough out so we left slack in the plan..
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Old 04-26-2015, 02:38 PM
 
29,838 posts, read 34,929,245 times
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Quote:
Originally Posted by stevek64 View Post
Wow, I'd think that would be like saying ssn will no longer exist to another voting population segment. Many of those officials who vote for such a bill in certain districts won't be back in office and they know it. I'm afraid the cat is out of the bag with many of these programs that have gotten out of hand and it will be hard to reign any of them back to any large degree and I'd bet on seeing them being expanded before anything. Deficits/runaway debt? Eh.....who needs to worry about such silly things anymore?
Not sure there will be a rush of politicians to raise taxes to fund them in many states.
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Old 04-26-2015, 02:39 PM
 
Location: Whereever we have our RV parked
8,859 posts, read 7,744,265 times
Reputation: 15234
You have to remember that there are a huge number of people in government assistance in various forms. These folks will have an especially hard time saving for retirement. They may not even qualify for SS. My guess is that they will continue to be wards of the state, and this is where many of the people come from that have no savings. Sadly though, there are also people who have worked all their life, and still have no savings because they blew it on fun, drugs, fancy clothes, trips etc, or lost much of it because medical problems, or forced early retirment drained what savings they had.
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Old 04-26-2015, 02:41 PM
 
29,838 posts, read 34,929,245 times
Reputation: 11766
Quote:
Originally Posted by mathjak107 View Post
draw down is based on both the discretionary and non discretionary spending we set for the year.

we worked off desired budget rather than maximum safe withdrawal rate the portfolio may be able to withstand.

based on portfolio value we could likely set a higher draw but we have no need to as our budget even includes a fair amount of travel allocated .

if i take early ss withdrawals are in the 2.80% range which for a 50/50 mix are low.

we may be buying a co-op next year out right so that will pull a big chunk of dough out so we left slack in the plan..
Like I said you aren't using all of your portfolio to create income. Face it dude you are a Firecalc one percenter. Your failure rate is less than one percent.
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Old 04-26-2015, 02:45 PM
 
71,977 posts, read 72,020,102 times
Reputation: 49554
from your mouth to gods ears.. but if this travel bug takes hold i can easily blow through the max.

except for my daughters wedding last year in the Dominican republic which was a week , i have never taken more than a few days in 40 years so i have been to very few places.

i had to make my 2 or 3 week vacations last all year.
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Old 04-26-2015, 02:54 PM
 
Location: Chesapeake Bay
6,048 posts, read 3,882,716 times
Reputation: 3502
Quote:
Originally Posted by mathjak107 View Post
from your mouth to gods ears.. but if this travel bug takes hold i can easily blow through the max.
Willpower man. Willpower.
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