I share the same values as those below, but have not chosen to donate as much as 10% of our gross income. However, I freely volunteer my time to various charitable organizations including my church, the local children's swim league, and a non-profit that teaches underprivileged kids how to swim. Additionally, I give time to my neighborhood association and the local police department. I have found that most organizations need hands as much, if not more, than dollars.
I desperately wanted to retire in 2010 at age 65, because I no longer enjoyed my profession of 40+ years. Although I didn't calculate the break-even date, I knew from a SS point of view it made since to wait until age 70 to withdraw because I was in good health and, genetically, I could expect a long life (parents and grandparents lived into their 90s). However, I also understood the magic of compounding in our personal investments and knew I would miss out on some of that by withdrawing from those and not taking SS until age 70. Not sure if my gamble paid off, but between age 65 and age 70 our investments grew by 32%, but from age 70 to 80 they grew over 150%. The math is too complicated for me, but my gut tells me I'd be worse off today had I drawn down those investments between age 65 and 70. BTW, we're still not withdrawing from our investments other than capital gains and dividends.
Exact same thing happened to my wife and me when we went to our local VA DMV office to get a REAL ID several years ago. The certificate we had saved as our marriage license for over 50 years was just that - a ceremonial certificate signed by our minister. Fortunately for us, the DMV office was able to immediately retrieve a digital copy of our actual marriage license. Another side note was that we had never noticed the ceremonial certificate had my wife "marrying my father" as it was missing the crucial "Jr." that follows my name. Had a few laughs on the way back home.
Don't pile on, but I'm 80 and have never rebalanced (other than recently taking more dividends and LTCG out to build up a better cash position just in case). When it comes to distribution time, if the fund(s) are lower than the previous time, I reinvest; if higher, I take the distribution. I have been investing apx 60 years and it has served me well. Here's the current mix (thanks to Quicken):
Large Cap Stocks 44%
Cash 21%
Domestic Bonds 16%
Small Cap Stocks 13%
International Stocks 6%
Other <0.5%
For me it's knowing I have a reliable income stream from my wife's and my Social Security and several annuities. Additionally, our net worth has increased dramatically since I retired 15 years ago (I'm now 80). However, nothing can compare to falling asleep wrapped in the arms of my wife of 57 years.
Don't mind at all and yes, it's painful when they take it out. The annual total for both is $5,761 which is 1.3% of the current surrender values. There could be hidden fees, but they are well hidden.
Sorry, late to the "Annuity Party". I bought 2 variable annuities several months before I retired 15 years ago using the cash value of my whole life policies to fund them. I thought I had a reasonable understanding when I puchased, but yes, they're a little confusing. However, I've been very pleased with the results. I don't mind being told I messed up, but here are the total figures for both:
$576,359 - Purchase Price
$432,924 - Withdrawn thru 12/31/24 ($2,588/mo, guaranteed)
$437,198 - Surrender (cash out) Value (not going to happen:)
$652,253 - Guaranteed Death Benefit Six years ago, I bought a $350,000 Immediate Annuity, but let it accumulate the monthly payments and didn't start drawing on it until 3 years ago (inflation). It's now worth $378,881 and is paying $1,213 per month. The above along with both my wife's and my SS and occasionally taking capital gains and dividends from various mutual funds enable us to live a comfortable, but not extravagant lifestyle. My secondary goal was preservation of principal that I could leave to my sons and apparently that is working. Is there something I'm missing here?
Comments
I share the same values as those below, but have not chosen to donate as much as 10% of our gross income. However, I freely volunteer my time to various charitable organizations including my church, the local children's swim league, and a non-profit that teaches underprivileged kids how to swim. Additionally, I give time to my neighborhood association and the local police department. I have found that most organizations need hands as much, if not more, than dollars.
Post: Saving and Giving
Link to comment from June 22, 2025
I desperately wanted to retire in 2010 at age 65, because I no longer enjoyed my profession of 40+ years. Although I didn't calculate the break-even date, I knew from a SS point of view it made since to wait until age 70 to withdraw because I was in good health and, genetically, I could expect a long life (parents and grandparents lived into their 90s). However, I also understood the magic of compounding in our personal investments and knew I would miss out on some of that by withdrawing from those and not taking SS until age 70. Not sure if my gamble paid off, but between age 65 and age 70 our investments grew by 32%, but from age 70 to 80 they grew over 150%. The math is too complicated for me, but my gut tells me I'd be worse off today had I drawn down those investments between age 65 and 70. BTW, we're still not withdrawing from our investments other than capital gains and dividends.
Post: Breaking even? Why should anyone care? I don’t
Link to comment from May 15, 2025
Exact same thing happened to my wife and me when we went to our local VA DMV office to get a REAL ID several years ago. The certificate we had saved as our marriage license for over 50 years was just that - a ceremonial certificate signed by our minister. Fortunately for us, the DMV office was able to immediately retrieve a digital copy of our actual marriage license. Another side note was that we had never noticed the ceremonial certificate had my wife "marrying my father" as it was missing the crucial "Jr." that follows my name. Had a few laughs on the way back home.
Post: Am I Really Married?
Link to comment from May 7, 2025
Yikes!
Post: Financial Advisor – NEVER AGAIN
Link to comment from May 6, 2025
Don't pile on, but I'm 80 and have never rebalanced (other than recently taking more dividends and LTCG out to build up a better cash position just in case). When it comes to distribution time, if the fund(s) are lower than the previous time, I reinvest; if higher, I take the distribution. I have been investing apx 60 years and it has served me well. Here's the current mix (thanks to Quicken): Large Cap Stocks 44% Cash 21% Domestic Bonds 16% Small Cap Stocks 13% International Stocks 6% Other <0.5%
Post: Ch-Ch-Changes?
Link to comment from May 6, 2025
For me it's knowing I have a reliable income stream from my wife's and my Social Security and several annuities. Additionally, our net worth has increased dramatically since I retired 15 years ago (I'm now 80). However, nothing can compare to falling asleep wrapped in the arms of my wife of 57 years.
Post: Feeling Secure by Jonathan Clements
Link to comment from May 2, 2025
I pay the IRS and VA State estimated taxes via check because I thought there was no alternative. Is there?
Post: It’s 2025. Do you send checks by mail?
Link to comment from April 27, 2025
It's the price I pay so I don't run out of money and my heirs get my money back:)
Post: RDQ Sorry folks, I still see annuities, including deferred annuities, as a viable option for creating steady retirement income.
Link to comment from April 25, 2025
Don't mind at all and yes, it's painful when they take it out. The annual total for both is $5,761 which is 1.3% of the current surrender values. There could be hidden fees, but they are well hidden.
Post: RDQ Sorry folks, I still see annuities, including deferred annuities, as a viable option for creating steady retirement income.
Link to comment from April 25, 2025
Sorry, late to the "Annuity Party". I bought 2 variable annuities several months before I retired 15 years ago using the cash value of my whole life policies to fund them. I thought I had a reasonable understanding when I puchased, but yes, they're a little confusing. However, I've been very pleased with the results. I don't mind being told I messed up, but here are the total figures for both: $576,359 - Purchase Price $432,924 - Withdrawn thru 12/31/24 ($2,588/mo, guaranteed) $437,198 - Surrender (cash out) Value (not going to happen:) $652,253 - Guaranteed Death Benefit Six years ago, I bought a $350,000 Immediate Annuity, but let it accumulate the monthly payments and didn't start drawing on it until 3 years ago (inflation). It's now worth $378,881 and is paying $1,213 per month. The above along with both my wife's and my SS and occasionally taking capital gains and dividends from various mutual funds enable us to live a comfortable, but not extravagant lifestyle. My secondary goal was preservation of principal that I could leave to my sons and apparently that is working. Is there something I'm missing here?
Post: RDQ Sorry folks, I still see annuities, including deferred annuities, as a viable option for creating steady retirement income.
Link to comment from April 24, 2025