- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Nearing Retirement - Advice
Posted on 9/18/24 at 6:44 am to el Gaucho
Posted on 9/18/24 at 6:44 am to el Gaucho
quote:
I’m always jealous when I see boomers on here post about retirement. When millenials get to boomer age all president aoc will give us for “retirement” is a Canada shot
Boomers had it made man.
Our retirement is the Fema Camp's.
2
Posted on 9/18/24 at 11:39 am to Spankum
I moved everything to Vanguard before retiring. I let them manage it for me (it’s about $3000 fee / year). I talked to a few independent planners as well, but I’m still trying to get the grease off my hands.
I’m very happy with the arrangement plus I sleep better.
It will work out well for my wife when I’m gone.
I’m very happy with the arrangement plus I sleep better.
It will work out well for my wife when I’m gone.
Posted on 9/19/24 at 5:40 am to boomtown143
quote:no shite. Old school defined benefit pensions were legit. Congress fricked us with the Pension Prevention Act.
Boomers had it made man.
Posted on 9/19/24 at 5:55 am to Spankum
Post your current situation/ retirement questions at bogleheads.
They will give free advice, and are the best “experts” I’ve seen on this subject.
They will give free advice, and are the best “experts” I’ve seen on this subject.
Posted on 9/19/24 at 9:20 am to Spankum
You may want to look at your local Ameriprise Financial group. We did a sit down meeting with them for about 2 hours. You had to upload all your retirement and financial information prior. They basically run your projected numbers based on when you want to retire and make recommendations to hit your goals. Included tax planning advice and feedback on which of my investments seemed risky to them. Gave us a list of things to do I hadn’t been motivated to finish before like wills and medical POA. It was a $1200 fee and they are available for consultation for a year. We did it two years in a row and found it helpful. Might do it again next year to see where we are at goals wise. They had a separate management division but we didn’t get any pressure to give them our money as I self-manage my investments.
Posted on 9/20/24 at 11:54 pm to Spankum
I recently retired and I have always managed my investments. With the internet, you can get as much information as you want. Some excellent websites-
Paul merriman.com; white coat investor.com; Morningstar.com; American association of individual investors and many other books .
Creative Planning is a top notch financial planning and investment company. I don’t use them but my friends do. Good luck!
Paul merriman.com; white coat investor.com; Morningstar.com; American association of individual investors and many other books .
Creative Planning is a top notch financial planning and investment company. I don’t use them but my friends do. Good luck!
Posted on 9/21/24 at 6:38 am to Spankum
Junk silver
Buy what you need for next few years.
Buy what you need for next few years.
Posted on 9/21/24 at 6:51 am to boomtown143
It was fool gold. Era of big govt post ww2 had American believing they were prosperous when it was a foundation of sand.
Posted on 9/25/24 at 10:28 am to TIGERSby10
quote:
Victim mentality
Nice try Millenial
_________
Nope. I retired at 55 by realizing that I was responsible for my retirement at age 25.
Victim mentality
Nice try Millenial
_________
Nope. I retired at 55 by realizing that I was responsible for my retirement at age 25.
Posted on 9/25/24 at 10:52 am to Spankum
Franklin Income Funds (FCISX, FRIAX, etc) pay a monthly dividend of about 4% or better
So $500K gets you maybe $1,700 when the market is not so good, to $2,100 a month when it's doing well
And you have to pay tax on it unless it comes out of a Roth
I'm not there yet either - I'm nervous about it all
So $500K gets you maybe $1,700 when the market is not so good, to $2,100 a month when it's doing well
And you have to pay tax on it unless it comes out of a Roth
I'm not there yet either - I'm nervous about it all
This post was edited on 9/25/24 at 10:54 am
Posted on 9/25/24 at 11:35 am to Asharad
quote:Many were, but that was also before the requirement that plans had to be fully funded. My father lost his entire pension a year after retirement when the company he worked 35 years for went bankrupt and the plan was not fully funded.
no shite. Old school defined benefit pensions were legit. Congress fricked us with the Pension Prevention Act.
Posted on 9/25/24 at 12:13 pm to Asharad
quote:
Old school defined benefit pensions were legit.
These need to go away for all govt employees.
Posted on 9/25/24 at 7:26 pm to kywildcatfanone
401k are good if done right. Most private companies screw their employees. They need to match 100% for 5%. Good plans in private is what 50% for 6%. Which means the individual needs to contribute 12% to meet 15% that’s recommended.
Posted on 9/25/24 at 10:02 pm to tigerbacon
quote:
401k are good if done right. Most private companies screw their employees. They need to match 100% for 5%. Good plans in private is what 50% for 6%. Which means the individual needs to contribute 12% to meet 15% that’s recommended.
I’m not even sure what my match is but it seems to be close to what I put in for the entire year plus or minus a few thousand.
My company gave me $12,500 this year from June or 2023 to June of 2024. It’s been as high as 20k for the year.
This post was edited on 9/25/24 at 10:22 pm
Posted on 9/25/24 at 11:08 pm to el Gaucho
quote:
I’m always jealous when I see boomers on here post about retirement. When millenials get to boomer age all president aoc will give us
I am not a boomer, but I’m pretty damn close. Young people don’t have pensions, but they do have 401K accounts and IRA accounts. Those accounts didn’t get invented until the 80’s so they weren’t available to the boomers. I’d personally prefer a 401K and a Roth IRA to a pension and it is not even close.
My advice is to figure out the rules to the game (whatever they are) so you can come out on top.
Posted on 9/25/24 at 11:16 pm to tigerbacon
quote:
They need to match 100% for 5%.
My company is 100% match for 4%. That coupled with a healthcare savings account is why I am able to consider retirement currently.
Posted on 9/26/24 at 9:39 am to Spankum
You need to put away a total of 15% a month in a 401k to have a good retirement. I get 100% up to 8% of my salary. So I Actually bumped my contribution to 12% so I can hit 20% a month
Posted on 9/26/24 at 10:25 am to Spankum
Great thread.
This is just personal experience and not advice. My plan is to have multiple areas of income.
- I do my own investments/trades. I sell calls on a daily bases. Example, early this week I purchased NVDA stock at $116.10 and sold the $117 strike. I was paid $213 plus $90, so $303 made. Yes I know somebody might be thinking that I would have made more by holding it, but that isn't the goal. I want spendable money on a weekly basis. Today I did the same thing on another stock for next week. On Friday, I will be assigned on NVDA. On Monday, I will either sell a put or buy it again to sell a call that ends that Friday
- I own dividend ETFs. Just started this aspect and I am up to $300 in MONTHLY dividends. My goal is to get it to $2000 per month within 12 months. I use the above to finance this. That $303 made off NVDA will purchase dividend stocks/etfs
- We will sell our business and keep a % that must be paid to us by the month.
- I am looking at rental property, but not sure I want that head ache. If I did it, it would be in an area of tourism and be a small condo that I can list on VRBO/AirB&B.
This is just personal experience and not advice. My plan is to have multiple areas of income.
- I do my own investments/trades. I sell calls on a daily bases. Example, early this week I purchased NVDA stock at $116.10 and sold the $117 strike. I was paid $213 plus $90, so $303 made. Yes I know somebody might be thinking that I would have made more by holding it, but that isn't the goal. I want spendable money on a weekly basis. Today I did the same thing on another stock for next week. On Friday, I will be assigned on NVDA. On Monday, I will either sell a put or buy it again to sell a call that ends that Friday
- I own dividend ETFs. Just started this aspect and I am up to $300 in MONTHLY dividends. My goal is to get it to $2000 per month within 12 months. I use the above to finance this. That $303 made off NVDA will purchase dividend stocks/etfs
- We will sell our business and keep a % that must be paid to us by the month.
- I am looking at rental property, but not sure I want that head ache. If I did it, it would be in an area of tourism and be a small condo that I can list on VRBO/AirB&B.
Posted on 9/27/24 at 2:58 pm to Spankum
Self manage...don't retire.
Posted on 9/27/24 at 3:22 pm to BCreed1
quote:
I am looking at rental property, but not sure I want that head ache. If I did it, it would be in an area of tourism and be a small condo that I can list on VRBO/AirB&B.
The bolder is not a headache.
It’s a pain in the A$$.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News