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Are you still in - Part Deux 2017?


Barbaraok

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Seems like a good time to start a new thread. 5 years is a long time on the old one.

 

Yes, we are still in, though I did move some funds around, as I do every year, to rebalance and make sure we are diversified. Also took our RMDs (required minimum distribution) and put into more conservative fund as part of the balancing process.

 

 

Barb & Dave O'Keeffe
2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID
Blog: http://www.barbanddave.net
SPK# 90761 FMCA #F337834

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We never moved completely out of the investment world and probably never will. But we also stopped self-management a long time ago and have been quite pleased with the result. Since our fund growth has exceeded our RMD each year since we began withdrawals, we will continue with the same folks as in the past.

 

On a side note, if one has enough money to be unable to use the funds from an RMD, I suppose reinvesting it may be a good idea, but we have stopped doing that and begun to spend ours on travel or luxuries that we'd not have otherwise. We do this because of our experience with my aging parents, when we tried to convince them to spend some of their savings on themselves to really enjoy life together while both of them were still living, but were unable to convince them. Mother ended life in long term care and the money she might have spent to enjoy her time with dad before he passed, all went to pay for that care since she lived there for 7 years and once that savings was all gone, Medicaid kicked in to pay what her income could not. But the result was that had she and dad taken a few trips that would have allowed them to share more experiences, before he passed and left her alone, all that would have been different was that Medicaid would have kicked in a few years earlier and she would have had more good times with dad to remember over those years.

 

Our sons are all of them successful today and while most anyone can find a use for inherited money if they get it, they really don't "need" the money which we might hoard in our investments as savings so we have begun to spend those life savings in order to build more memories for whichever one of us my find themselves alone one day when the other passes away. We are both now past 70 1/2 and so we have stopped saving for the future as in all probability at least one of us will not be here in 15 years and it could be much sooner. With the average US life expectancy at about 78/79 years, we are both far too close to that point to be worrying about saving for our future. Reality says that it is highly probable that at least one of us will be deceased within 10 years. For us, the time has come to begin enjoying the fruits of our life savings.

 

As much as I believe in saving, investing, and financial planning, there comes a time when we should enjoy the fruits of our labors and we believe that time has come. For us, begining the RMD was a wake-up call and we use ours to invest in memories.

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

            images?q=tbn:ANd9GcQqFswi_bvvojaMvanTWAI

 

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Sounds like we are about on the same page as far as RMDs go. But don't say you will be gone just because your approaching the "average" life expectancy age. From the SS Administration:

 

 

 

When you are considering when to collect retirement benefits, one important factor to take into account is how long you might live.

According to data compiled by the Social Security Administration:

  • A man reaching age 65 today can expect to live, on average, until age 84.3.
  • A woman turning age 65 today can expect to live, on average, until age 86.6.

And those are just averages. About one out of every four 65-year-olds today will live past age 90, and one out of 10 will live past age 95.

 

My mother is now 94 and still going strong. Looking at the ages of my grands & great grands, I expect to live a long, long time. B) And part of that is enjoying the fruits of our years of long hours, no vacations, no new anythings.

Barb & Dave O'Keeffe
2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID
Blog: http://www.barbanddave.net
SPK# 90761 FMCA #F337834

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I don't expect to be gone by 80 either as both of my parents lived past 90. But I also don't expect to be able to do as much in my last years as we can today and so I plan to do more in the next few years to increase the list of memories that we have to share, while we are both here to share them. I do not advise people to spend everything, but only that the time does come when you need to work hard on that "bucket list." We are making those items a priority.

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

            images?q=tbn:ANd9GcQqFswi_bvvojaMvanTWAI

 

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Still self managing about 10-15% of our funds. The other 85-90% of our non real estate assets are managed with our Financial Planner. A couple of the larger hunks in that pie are annuities. While we have a formal sit down, the last two years being video conferencing while on the road, yearly - he and I email and talk over items probably another 3-5 times a year. (Only been doing this since 2012, and as a reminder this was all part of our shift to retirement mode. The DW's does not enjoy, and is I supposed nervous, when it comes to the finance side of life. (Not meant as a ding. She is on the yearly review, and we have always done multiple reviews of what/where/why things were during our accumulation phase of life. Asks good questions, and her being nervous has always had me be a bit more conservative then I would be normally by myself. So not at all a bad thing.)

 

My goal on the 10-15% that I actively manage, is to harvest gains for RV'ing modifications as well as funds we use for donations, and spoiling our daughter and her wife:)! I enjoy researching, and following advice from a career mentor I had 20+ years ago - I always set exit points at the time of a purchase, and am 90% consistent/disciplined on exiting at that point. (Usually on the upside, but admit not always:)!)

 

Also as many of you know, in the 2010-2012 timeframe - I really enjoyed the knowledge sharing of this board. On many fronts, of which financial shift of mind in retirement was one...

 

Best to all,

Smitty

Be safe, have fun,

Smitty

04 CC Allure "RooII" - Our "E" ride for life!

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We are going through an inheritance which doubles our paid for property, and our Tesla stock. My FIL was tired, as I was, of the half percent banks offered. He put half of his life savingsfunds in Tesla when it was $70. We will be selling the property and deciding what is next. Canada in BC, Denver near our new grandson, Costa Rica, or Colombia S. America are safe and nice again, and secure finally in Colombia.

 

We are moving our half of the inherited Tesla shares to our self managed USAA brokerage tenants in common account, and the proceeds from the sale of the house and property will go into either Tesla if it is down, or Space X when it IPOs. We will use the proceeds from selling our current new house on 5 acres with a 24X30 workshop insulated and finished out with electric and water, and our two steel carports and 12X20 office portable near building also insulated and paneled.

 

That will finance our new home in one of the above places. Our military retirement takes the place of a high yield annuities or account of whatever kind to live on. My spousal unit's 401 is significant but nowhere near our other holdings.

 

We have done well in stock, real estate, and funds, but everything has been predicated on always paying cash up front, for houses property and vehicles, and avoiding full coverage insurance, finance charges which double the price of homes for most conventional or VA loans. I believe most folks are misled by the bankers who I have no use for save credit and debit cards, and the brokerage for our self serve investment trades. We will also be getting a Tesla Model 3 once the initial rush dies down and production catches up with my demand.

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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