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Blue Collar RE

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    • Rick, I have a traditional pension with no COLA's.I mentioned recently I had reached FRA and was considering suspending my social security and using funds to bridge my social security to age 70. It guarantees 8% a year plus COLA's which would mean an additional 24% and additional COLA's to increase my social security. From what I've read, most retail investors can't get a guaranteed 8% a year. I'm about to pull the trigger and do it, knowing that this will help mitigate the inflation that has eaten into my non-COLA pension in the last few years.

      Post: Missing That Paycheck

      Link to comment from April 28, 2024

    • Trying to follow your last paragraph about not using investments or cash to cover social security while you suspend social security.I've reached FRA recently and am considering suspending social security and using cash to cover the suspended social security benefit. Here's my reasoning, it's like buying a deferred annuity now and recouping it starting in 3 years. I will obtain an additional 24% plus COLA's added to the 24% starting in 3 years and this will continue for the rest of my life. That's guaranteed income, not a potential income from investing in the market. Read numerous pieces were typical retailer investor has a hard time making a guaranteed 8% a year. Would recoup the funds spent in approximately 8 years. Family has a long history of living. If I'm missing something I'd more than happy to hear you out.

      Post: Fully Committed

      Link to comment from April 21, 2024

    • From someone who stood on their feet for 30 plus years and had physical demanding work, the post retirement work does not interest me. I find enjoyment in just helping my neighbors or friends with small projects or just having conversations with them over a cup of coffee. What some people wouldn't call volunteering, I donate plasma and platelets on an average of twice if not three times a month at the local nonprofit blood bank. It takes an average of two to two and a half hours each time. Also had volunteered in an overnight program with my church for many years.As one of the frequent contributors here Dave Gartland(sp) mentioned a while back about volunteering is like paid work. You don't get a paycheck for it. Not that you should.Remember when my father volunteered to drive the coach at a retirement community where the CEO made $250,000 plus if not more, couldn't afford to pay someone to drive it. Bunco! Some of these volunteering opportunities actually take away paid work for someone. I understand one can have new experiences and opportunities. I realize many contributors here have the gifts and talents to continue providing their expertise and such in their related fields in volunteering, yet some of us are just tired of work and want to hang it up for an non-work/volunteer retirement. I finally been able to catch up on my skiing and traveling in retirement. P.S Jonathan, reading and following your suggestions since you wrote at WSJ given my wife and I a comfortable start in retirement. Thank you

      P.S. Jonathan followed you since you were at the WSJ. Following your columns and a few others have  my wife and me a comfortable reti
      

      Post: Seven Reasons to Work

      Link to comment from March 12, 2024

    • I said I never go and see the NCAA men's basketball Final Four in a football stadium. In 2017 I had tickets to the NCAA Men's Final Four fall into my hands and my team was playing. My wife and I and my two brothers have been to four Final Fours' in the last 6 years. Don't always get great seats, yet it's a great four days.

      Post: Any Seat Will Do

      Link to comment from August 4, 2023

    • I think that's part of so-called full employment program of the financial / retirement industry./ S

      Post: Juggling for Retirees

      Link to comment from January 21, 2023

    • If you ever do make it out to Pacific Northwest,one of the great national parks is Glacier national park. I definitely recommend a visit.

      Post: Birthday Wishes

      Link to comment from September 29, 2022

    • As someone that looked into this very intently I also thought about waiting until age 70. The CFP that was available through my 457 program use Social Security solutions, a social security maximizer,analyze my social security drawing, with my wife's social security payout to be and our portfolio and pensions in mind. Turns out it would be best for me to claim at age 63 and a half and my wife to claim at age 70.I scratched my head at this, because for all the reading I've done, it said wait, wait until your age 70 for maximization of benefit for both of you. Well my wife has a little larger benefit than mine to come when she reaches age 70 which she is 2 years younger than I am. So I took the money and hope that everything works out well. Consider using a social security maximizer. Do you understand not all are created equal in regards to the maximizers.

      Post: Making Your Claim

      Link to comment from February 16, 2022

    • Dennis, you might enjoy reading this in regards to at least taxes for retirees in California. https://thefinancebuff.com/retire-relocate-california-high-taxes.html

      Post: Going Nowhere

      Link to comment from August 12, 2021

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