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Old 07-19-2019, 10:29 AM
 
29,854 posts, read 34,929,245 times
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Quote:
Originally Posted by Cabound1 View Post
Ok. So unless I’m totally misreading this, which is entirely possible, you think you have had more success and accumulated a bigger net worth than virtually everyone except a handful of the “good ole posters” on this board.

Have a totally misread you?
Yes and yes. I know and realize as I noted there are many out there like me in this forum. I remember a thread survey that well over the majority had over 90k income in retirement and that led to another discussion. I am not a big fish but know I have it good. I also know there are different ways to arrive at retirement income that is equivalent. I don't post as much as I use to and don't argue as much and try to avoid doing so at all. So when someone tries to tell me I am not normal/average I just go along and say okie dokie. On the other hand when I say I know a lot of people like me and many better off, I get told I live in some unreal fantasy island so once again okie dokie. I don't want to tell people more are like me then them because then you have become some cruel person looking down on the minions and there but for the grace of God you would be like them. So once again okie dokie. Remember this thread went down the who can save 1.7 million path and you should be very happy and rejoice over having 90K in retirement income and who needs more yada yada yada.

Again it is not only about net worth when you have two professional careers each with a pension and SS. It is if you follow the path a cake walk and I often including this forum have acknowledged that. Remember I am a long timer in here which includes before retirement and now almost twelve years in. First as a lurker than a participant. I also have good memory and can remember individuals and their postings over the years. Our fixed income has grown by leaps and bounds in that time. I have not shared amounts but about the process from retiring with two pensions and investments only to implementing the 62/70 SS strategy with me taking spousal at 66 and because of political timing taking my SS at 69 plus. That now leaves us not needing to touch our workplace savings other than RMD's and reinvesting them along with my SS plus which is higher than most. No brilliance in that or really luck that didn't hit the entire economy at the same time. Many we knew followed the same path and it was often discussed in this forum at work and in the community. Lots of folks in the community did like wise. The interesting thing is that we retired and sold our house just as the crash was starting and were one of the last people to sell before things headed south big time. That also means we retired just before the market crash and saw things take a big hit. We also had the fortune of staying in the market seeing the rebound and now what ever happens moving forward. So now the biggest test of our fortune awaits us. That is the market for the next 9 1/2 years until age 80 as we sink large amounts in weekly/monthly. A continuing Bull with 10% plus returns or a bear with negative returns. Who knows but our next review is in 4 1/2 years at age 75. We will review the data and adjust accordingly. Last review was last year at age 70 when we tempered our allocation down and made it less volatile. That is all fate as we are not stock pickers but invest in mutual funds and ETF's and follow in part a newsletter popular with one other well known poster in here.

Last edited by TuborgP; 07-19-2019 at 11:14 AM..
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Old 07-19-2019, 10:54 AM
 
1,743 posts, read 627,421 times
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Quote:
Originally Posted by ohio_peasant View Post
This is because your numbers for healthcare/health-insurance are so optimistic, and for taxes so absolutely optimistic. What happens if your tax-bill is ten, twenty, thirty times higher than the amount that you posted? What happens if you don't qualify for Obamacare subsidies?
Well, I am 59, so I have only a little over 5 more years to deal with "regular" health insurance (ie, til Medicare eligibility), and I have never before qualified for Obamacare subsidies (I mentioned that I have been mostly self-employed, and have been making, and still am making with occasional work, way too much to qualify for any subsidy). I do not expect to qualify for Obamacare subsidies in the future either (ie, in the 5.5 years til Medicare). But I live in the lowest-health-insurance-cost state, ie, Massachusetts, where the oldest (ie, 64 year old) healthcare users now pay $5,200 per year for a Bronze health insurance program. Except for one year (I think the year before this one) when federal funding of state health insurance programs was cut (and all the programs costs went up by something like $60 per month), the cost of insurance goes up typically by about $10-30 per month, or $120-360 per year, which means that the most I will be paying ever is about $7,000 per year, and I am prepared for that. It will not be thirty times higher than I posted, I can reassure you - I have been paying for the same state insurance policy since it was instituted in 2006, and it has not even doubled since then, even though I am 13 years older :-).


Re taxes, they will go up only if my annuity income goes up (which it will), but I have already planned for it (and the taxes will still be no more than 22-24% of the additional income).


Re cost of healthcare, I already commented on it. I have been entirely healthy so far (age 59, knock-knock-knock on wood), do have a high deductible but can handle it if I have to pay it, am familiar with good quality/low price healthcare in a foreign country which I will use if needed.


It appears that you also (like another poster) mixed me up with Carbound1, but we are not the same person. We are both professional women, but Carbound is a couple of years younger, fully retired, lives in the San Francisco Bay area, has Porsches and dogs, does not pay health insurance or taxes - I am a couple of years older, still only partly retired, live in Boston (with one of two additional crashpads in San Francisco), do not keep a car (or a dog - I travel too much), and I do pay the full price of health insurance, as well as taxes.


Incidentally, I am traveling, don't have much chance to conveniently check the Internet, so will mostly sign off for a few weeks. You people carry on, I think this thread covers an interesting subject which kind of encompasses all other retirement financial subjects, and a number of non-financial ones too.

Last edited by elnrgby; 07-19-2019 at 11:19 AM..
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Old 07-19-2019, 11:01 AM
 
1,093 posts, read 527,615 times
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Quote:
Originally Posted by Maddie104 View Post
How would you know this and why would you come to that assumption? This is a retirement subforum within a general forum. This thread in particular generated 11,902 views and 358 replies.
Good point. I assumed this was the personal finance forum, not retirement. I think itís been documented that people who frequent money forums tend to skew towards the more affluent, educated, etc. My bad.
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Old 07-19-2019, 11:04 AM
 
29,854 posts, read 34,929,245 times
Reputation: 11781
Quote:
Originally Posted by Cabound1 View Post
Good point. I assumed this was the personal finance forum, not retirement. I think it’s been documented that people who frequent money forums tend to skew towards the more affluent, educated, etc. My bad.
I agreed with you because there have been surveys created in the retirement forum over the years that confirm your thinking. It has changed but there was a time when the discussions were more ...........

I learned a lot back in the day around here that has helped me get where we are today.
See a thought here, do some research and if still interested evaluate for use.
I remember well the progression of discussion about 62/70 SS strategy in here from those of us who were early on aware of to it becoming mainstream then outlawed. I learned from a neighbor/friend who learned from their Financial Advisor and just passed it along. Was quickly common knowledge in the community. Then people started selling it as a secret on line.

Last edited by TuborgP; 07-19-2019 at 11:13 AM..
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Old 07-19-2019, 12:00 PM
 
7,982 posts, read 5,070,972 times
Reputation: 13655
Quote:
Originally Posted by mathjak107 View Post
but that is what the bulk of your posts are concerned about . most things you post about are about the glass is half empty and all the negative scenarios that can play out in investing or retirement planning .

the bulk of which is the past not following the future or growing your money like the past, or being like another country who failed ... i think that is just what you perhaps need to use .... it protects against those things you seem to lose sleep over or spend time writing about
My main concern isnít invading hordes galloping from the east, razing our village. It isnít about sudden and horrible catastrophe. Rather, itís about relentless cavalcade of small setbacks that accumulate. Itís about potentially decades and decades of muted returns. I worry about slowdown in innovation, and therefore in profit growth. Yeah, weíll keep, over sufficiently long term, earning something from our moneyÖ but that ďsomethingĒ will be a smaller amount than it has been in the 20th century. Thatís my worry.

In a way, my worry is the opposite of your description thereof; Iím looking for a way to goose my returns, even if that means higher risk. Thatís because I canít do a whole lot about earning more or saving more. Instead itís necessary to rely on capital to generate more capital.

What so caustically irritates me is that traditional models of portfolio design, where one aims for risk-adjusted ďmaximalĒ returns, seem to be backfiring. And by this I principally mean diversifying away from US large-cap stocks, to pretty much anything else. And what keeps piquing my curiosity, besides my frustration, is the question of whether longstanding trends are merely large but ultimately temporary swings, or instead fundamental testaments to the actual nature of things. So for example, if you and I play a coin-tossing game, with me betting on heads, and you on tails... and it so happens, that the coin lands on tails 20 times in a row... well, is that just a long run of repeated outcomes of a fair coin, or is the coin actually unfair?

Quote:
Originally Posted by elnrgby View Post
It appears that you also (like another poster) mixed me up with Carbound1, but we are not the same person. We are both professional women, but Carbound is a couple of years younger, fully retired, lives in the San Francisco Bay area, has Porsches and dogs, does not pay health insurance or taxes - I am a couple of years older, still only partly retired, live in Boston (with one of two additional crashpads in San Francisco), do not keep a car (or a dog - I travel too much), and I do pay the full price of health insurance, as well as taxes.
With respect, the circumstances of your two cases are sufficiently similar, such that when I read about your two sets of circumstances, I come away with similar reaction... and that is a mix of sincere admiration, and a touch of bewilderment, in how you've both managed to address the very thorny problems of taxes and healthcare.
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Old 07-19-2019, 12:09 PM
 
858 posts, read 224,784 times
Reputation: 1405
Quote:
Originally Posted by TuborgP View Post
I agreed with you because there have been surveys created in the retirement forum over the years that confirm your thinking. It has changed but there was a time when the discussions were more ...........

I learned a lot back in the day around here that has helped me get where we are today.
See a thought here, do some research and if still interested evaluate for use.
I remember well the progression of discussion about 62/70 SS strategy in here from those of us who were early on aware of to it becoming mainstream then outlawed. I learned from a neighbor/friend who learned from their Financial Advisor and just passed it along. Was quickly common knowledge in the community. Then people started selling it as a secret on line.
Not to put too fine a point on this but be weary of self-reported surveys;

1. Participation rate may be low.
2. Those who participate may skew to high percentilers.
2. People lie (generally to the upside)
3. Many people read but do not post.
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Old 07-19-2019, 02:37 PM
 
Location: equator
3,522 posts, read 1,559,553 times
Reputation: 8721
Quote:
Originally Posted by Cabound1 View Post
This is a self selecting group that frequents this sub-forum. Iíve always kind of assumed every regular has above average income, career, academics, etc. Itís average for this group. It doesnít take long to figure that out, imo.
"Above average" in every way! Why, yes, we are! (back-patting)

"Well, that's the news from Lake Wobegon, where all the women are strong, all the men are good-looking, and all the children are above average."
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Old 07-19-2019, 10:06 PM
 
405 posts, read 161,678 times
Reputation: 1148
Quote:
Originally Posted by GeoffD View Post
It’s the assisted living to memory care to nursing home trajectory that is expensive and can span many years. The nursing home part tends to be the shortest. At that point, the person has lost mobility and most don’t live long once they’re completely sedentary. My mom has just been through 4 years of it and has been in memory care for the last year+ at $120k/year. How much you need kind of depends on your income. My home equity plus my delay-to-70 Social Security check would fund 5 or 6 years of it in the expensive northeast. You don’t see many men in those facilities. Statistically, it’s women who need the big pile of money to fund that trajectory.
I had an aunt who had a few strokes in her late 70's. Her family finally placed her in a nursing home after caring for her for 6 months or so. She lived at the nursing home, in a bed staring at the wall for about 10 years. She and her husband ran through most of their assets before he died and she had her strokes. There was no money for nursing care, so she was at a sad facility that only accepted medicare and her SS.

Sometimes, life is not fair and we don't get to choose our fate.
My husband and I decided that we would pay for nursing care insurance. I want a few options if this happens to us.
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Old 07-20-2019, 03:51 AM
 
71,991 posts, read 72,020,102 times
Reputation: 49560
same here , a stroke left my dad in a nursing facility for 6 years .
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Old 07-20-2019, 04:21 AM
 
29,854 posts, read 34,929,245 times
Reputation: 11781
Quote:
Originally Posted by NewbieHere View Post
In my area, a 5-star CCRC is nothing but an apartment complex, albeit nice apartment complex. Itís very close to a lot of restaurants. I prefer my garden.
My use of five star facility is related to Skilled Nursing homes and is a rating by the federal government based on established criteria. I am not sure of any independent evaluation standard for CCRC's which aren't for everyone. Just as active 55 communities aren't.
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