I still believe in Churchill, “You can always count on Americans to do the right thing - after they’ve tried everything else.” We are just in an "everything else" phase ... I hope!
But wont it be very high in within 10? In 10 years I believe we will see a significant increase in contract jobs. Basically everyone will be some form of an Uber driver - - i.e. we will all be for temporary hire. It has already been on the rise for a few decades in many industries and with AI some employers are already experimenting with "project job pools." It wont be long before they will ask you to be part of the "project pool" as a contract worker not an employee. This will eliminate the need for medical coverage and other benefits as well as reduce office related expenses.
Please add that spouses who inherit IRAs from their spouse before RMD are required can take distributions before age 59 1/2 without penalty. You do still have to pay ordinary income taxes on any distributions.
But how is your cash invested? If you are over 55 and building a 3-5 year cash run-way - - even if you are in CDs and/or Treasuries if they are > 1 year, you are technically in bonds. Just look at your brokerage firm pie chart for your account. This wasn't a bad ladder strategy to build over the past two years, with very safe rates > 4%. Again, I'm talking about folks > 55. I wouldn't necessarily do it now, if I was < 55 (rates are declining and are < 4%). But you know when you're > 55 it isn't just about a market correction anymore!!!!! I started creating a "cash/bond bucket" at 52 because frankly safe rates hadn't been that high in a very long time or very often in my life. My husband's employment was very sensitive to technology changes and showing the stress. So hmmm, "Why not build in some extra safety at solid rates?" My husband unexpectedly passed away from complications of cancer, in a month, in 2024 (something unthinkable and devastating). This financial choice has already bought me considerable time and flexibility. Do I think about my total long-term rate of return? Absolutely! But I'm absolutely blessed to be able to think about it!
Yes! The other upside of having this bond and cash position is the ability to do some modest re-investing when the market is at a big bottom. When you have this kind of position you feel far less anxiety (after the initial bubble burst) and usually see you can re-invest some of this money at a very opportune time. Isn't this what Berkshire has always done and is doing now?
There are so many stories. And they break your heart. You can read about and even talk to people through many different non-profits, including churches, serving the poor in the United States.
Elaine, I'm so sorry Jonathan passed. Words can't express the emotional journey you and all those who loved Jonathan are going through. I'm sending you love and peace through this unwanted journey in life.
I just ran through the Deduction for Seniors calculation. It will directly reduce your AGI. The 1040 will also have to be updated as items from Schedule 1-A are going to pull over to new line items on the 1040. For instance, this deduction will get reported on 1040 line 13b. The 2024 1040 does not have a line 13a or 13b! Oh this will be so much fun for everyone!
Neither of my grandparents had much money but one taught me to fish and the other taught me to ride horses. They both had huge summer gardens and I learned to eat and cook (with my grandmas) out of the garden. It was amazing. I wish my children would have had that! It's still some of the most beautiful times of my life.
Comments
I still believe in Churchill, “You can always count on Americans to do the right thing - after they’ve tried everything else.” We are just in an "everything else" phase ... I hope!
Post: Plan for a Pay Cut
Link to comment from December 29, 2025
But wont it be very high in within 10? In 10 years I believe we will see a significant increase in contract jobs. Basically everyone will be some form of an Uber driver - - i.e. we will all be for temporary hire. It has already been on the rise for a few decades in many industries and with AI some employers are already experimenting with "project job pools." It wont be long before they will ask you to be part of the "project pool" as a contract worker not an employee. This will eliminate the need for medical coverage and other benefits as well as reduce office related expenses.
Post: About those US medical costs….
Link to comment from November 11, 2025
Please add that spouses who inherit IRAs from their spouse before RMD are required can take distributions before age 59 1/2 without penalty. You do still have to pay ordinary income taxes on any distributions.
Post: Rule of 55: Early Retirement
Link to comment from November 11, 2025
But how is your cash invested? If you are over 55 and building a 3-5 year cash run-way - - even if you are in CDs and/or Treasuries if they are > 1 year, you are technically in bonds. Just look at your brokerage firm pie chart for your account. This wasn't a bad ladder strategy to build over the past two years, with very safe rates > 4%. Again, I'm talking about folks > 55. I wouldn't necessarily do it now, if I was < 55 (rates are declining and are < 4%). But you know when you're > 55 it isn't just about a market correction anymore!!!!! I started creating a "cash/bond bucket" at 52 because frankly safe rates hadn't been that high in a very long time or very often in my life. My husband's employment was very sensitive to technology changes and showing the stress. So hmmm, "Why not build in some extra safety at solid rates?" My husband unexpectedly passed away from complications of cancer, in a month, in 2024 (something unthinkable and devastating). This financial choice has already bought me considerable time and flexibility. Do I think about my total long-term rate of return? Absolutely! But I'm absolutely blessed to be able to think about it!
Post: AI Rally Market Risks
Link to comment from November 11, 2025
Yes! The other upside of having this bond and cash position is the ability to do some modest re-investing when the market is at a big bottom. When you have this kind of position you feel far less anxiety (after the initial bubble burst) and usually see you can re-invest some of this money at a very opportune time. Isn't this what Berkshire has always done and is doing now?
Post: AI Rally Market Risks
Link to comment from November 11, 2025
There are so many stories. And they break your heart. You can read about and even talk to people through many different non-profits, including churches, serving the poor in the United States.
Post: The 1% Club: Our Unnoticed Wealth
Link to comment from October 1, 2025
Or Buffet "the ovarian lottery."
Post: The 1% Club: Our Unnoticed Wealth
Link to comment from October 1, 2025
Elaine, I'm so sorry Jonathan passed. Words can't express the emotional journey you and all those who loved Jonathan are going through. I'm sending you love and peace through this unwanted journey in life.
Post: Farewell Friends
Link to comment from September 23, 2025
I just ran through the Deduction for Seniors calculation. It will directly reduce your AGI. The 1040 will also have to be updated as items from Schedule 1-A are going to pull over to new line items on the 1040. For instance, this deduction will get reported on 1040 line 13b. The 2024 1040 does not have a line 13a or 13b! Oh this will be so much fun for everyone!
Post: New 2025 Tax Deductions
Link to comment from September 23, 2025
Neither of my grandparents had much money but one taught me to fish and the other taught me to ride horses. They both had huge summer gardens and I learned to eat and cook (with my grandmas) out of the garden. It was amazing. I wish my children would have had that! It's still some of the most beautiful times of my life.
Post: What They Don’t Tell You About Retirement: Part 2 – Grandchildren Are Expensive
Link to comment from September 8, 2025