AUTHOR: Mark Eckman on 10/12/2024 FIRST: bbbobbins on 10/12/2024 | RECENT: Mark Eckman on 10/13/2024
Comments:
A great way to express the situation. Last week I finished radiation treatments at the Mayo Clinic. I may have spent too much of my life concerned about "what next" and less about "enjoying now." Yes, pain management, side effects and drugs have changed my life, but visiting my grandsons tells me "enjoying now" is the most precious part of life. Best of luck to you, Jonathan.
Our retirement system is far from perfect, but the greatest feature is choice. You choose to keep or eliminate your 401k. You choose to convert to Roth or not. You choose your investments and financial service providers. The worst feature is choice requires taking responsibility for your own actions. You are responsible for education regarding your options, finding unbiased information about investments and financial services, following the tax code, and being in command of everything. Most of the time when I hear about issues with a 401k, it is more an issue of the responsibility people have to exercise with their 401k than the plan itself.
I lived in Alabama for 10 years and New Jersey for 12 years. Alabama has great weather and low taxes. New Jersey had the nicest, friendliest people, (Yes, not a typo,) is o]an hour from anything you want to do, and a high cost of living. I moved from Alabama the day I retired and didn't look back. I would return to NJ if I could afford it. Now I live in small town Iowa which offers a slower pace at the price of limited choices. Located a two hour drive from a major airport, 35 miles to the nearest Home Depot, and a Chick Fil A is the best new restaurant in town, so we are talking rural. All three were comfortable in their own place and time. Comfortable is not just about money or things, but the people in your life, the rewards emotionally, and the peace of mind that it brings.
Kudos. I keep seeing these items all over and they typically are from someone that abused the system. I agree the system needs change, but until there is political will to change something besides the preservation of politicians, this is not high on the list.
Agreed, the numbers are useless, especially if you drive through the areas you mentioned and see how people actually live. When talking about a living wage, it is also important to talk about how to live. Understanding the consequences of life decisions, both today and in the future, is an important part of that discussion. When hedonism overrules the living wage, we generate new problems, such as credit card debt, car loans underwater, lack of affordable housing, unwanted pregnancies and more. The discussion needs to be an affordable life, not a living wage.
Like you, I use my PC a lot and have an iPhone, so connectivity is an issue. I use many of the Google apps as a solution, so I have it available on any platform and always synced.
I use the Anylist app to keep track of things. While it was originally made for a grocery list, i have a "to do" list, home projects that I need to do, questions for my various doctors, and more. This gives me more organization than notes and more flexibility.
When my wife passed, I began reimbursement withdrawals from my HSA, using the accumulated medical receipts since 2004 and my Medicare part D premiums. My rationale here is the funds will become taxable income the moment they pass to my heirs, since they are not my spouse. the tax benefit is mine to use or lose, so...
There are also some stocks that pay a dividend but are not what you would call a dividend stock. For example, Visa (V) pays a small dividend, less than a 1% yield, but the 5-year compounded annual growth rate of dividend increases is over 10%. If you are buying stocks to beat inflation, the dividend growth and consistency alone would say buy and hold V. I have found similar situations with Microsoft (MSFT), Home Depot (HD) and more.
",,,plans to retire in the early 60s and quite often in the 50s even a rare 40s. What happened?" Nothing happened. The desire to retire early has always been around. That has not changed, and probably will not change in the future. The internet and social media make it easier to dream.
Comments:
A great way to express the situation. Last week I finished radiation treatments at the Mayo Clinic. I may have spent too much of my life concerned about "what next" and less about "enjoying now." Yes, pain management, side effects and drugs have changed my life, but visiting my grandsons tells me "enjoying now" is the most precious part of life. Best of luck to you, Jonathan.
Post: Staying Alive by Jonathan Clements
Link to comment from December 21, 2024
Our retirement system is far from perfect, but the greatest feature is choice. You choose to keep or eliminate your 401k. You choose to convert to Roth or not. You choose your investments and financial service providers. The worst feature is choice requires taking responsibility for your own actions. You are responsible for education regarding your options, finding unbiased information about investments and financial services, following the tax code, and being in command of everything. Most of the time when I hear about issues with a 401k, it is more an issue of the responsibility people have to exercise with their 401k than the plan itself.
Post: Love, Hate and My 401(k)
Link to comment from December 7, 2024
I lived in Alabama for 10 years and New Jersey for 12 years. Alabama has great weather and low taxes. New Jersey had the nicest, friendliest people, (Yes, not a typo,) is o]an hour from anything you want to do, and a high cost of living. I moved from Alabama the day I retired and didn't look back. I would return to NJ if I could afford it. Now I live in small town Iowa which offers a slower pace at the price of limited choices. Located a two hour drive from a major airport, 35 miles to the nearest Home Depot, and a Chick Fil A is the best new restaurant in town, so we are talking rural. All three were comfortable in their own place and time. Comfortable is not just about money or things, but the people in your life, the rewards emotionally, and the peace of mind that it brings.
Post: The quest for a comfortable retirement. RDQ
Link to comment from December 7, 2024
Kudos. I keep seeing these items all over and they typically are from someone that abused the system. I agree the system needs change, but until there is political will to change something besides the preservation of politicians, this is not high on the list.
Post: Bashing the 401k scam – looking for a better idea. RDQ says it’s misunderstood
Link to comment from November 30, 2024
Agreed, the numbers are useless, especially if you drive through the areas you mentioned and see how people actually live. When talking about a living wage, it is also important to talk about how to live. Understanding the consequences of life decisions, both today and in the future, is an important part of that discussion. When hedonism overrules the living wage, we generate new problems, such as credit card debt, car loans underwater, lack of affordable housing, unwanted pregnancies and more. The discussion needs to be an affordable life, not a living wage.
Post: Let’s think about this idea of a living wage. I say it’s a red herring
Link to comment from November 23, 2024
Like you, I use my PC a lot and have an iPhone, so connectivity is an issue. I use many of the Google apps as a solution, so I have it available on any platform and always synced.
Post: Try to Remember by Andrew Forsythe
Link to comment from November 23, 2024
I use the Anylist app to keep track of things. While it was originally made for a grocery list, i have a "to do" list, home projects that I need to do, questions for my various doctors, and more. This gives me more organization than notes and more flexibility.
Post: Try to Remember by Andrew Forsythe
Link to comment from November 23, 2024
When my wife passed, I began reimbursement withdrawals from my HSA, using the accumulated medical receipts since 2004 and my Medicare part D premiums. My rationale here is the funds will become taxable income the moment they pass to my heirs, since they are not my spouse. the tax benefit is mine to use or lose, so...
Post: The Luxury of Choosing Tax-Free Cash from a Roth IRA or HSA….but Which One?
Link to comment from November 16, 2024
There are also some stocks that pay a dividend but are not what you would call a dividend stock. For example, Visa (V) pays a small dividend, less than a 1% yield, but the 5-year compounded annual growth rate of dividend increases is over 10%. If you are buying stocks to beat inflation, the dividend growth and consistency alone would say buy and hold V. I have found similar situations with Microsoft (MSFT), Home Depot (HD) and more.
Post: Don’t Dis Dividends by Jonathan Clements
Link to comment from November 9, 2024
",,,plans to retire in the early 60s and quite often in the 50s even a rare 40s. What happened?" Nothing happened. The desire to retire early has always been around. That has not changed, and probably will not change in the future. The internet and social media make it easier to dream.
Post: Is the (my) perception of early retirement all wrong? RDQ
Link to comment from November 2, 2024