I assume you noticed that the Morningstar withdrawal rate percentages are estimates that have a 90% probability of your not running out of money. My personal preference would be to use a rate that is close to 100%.
Both sets of my grandparents first lived together in one room houses in the properties they were homesteading on--one in the Dakota Territory and the other in Saskatchewan, Canada. Neither one made it past lower middle class, but my parents were living in houses that were 750-1,000 sq ft by the time they graduated from high school and left home to become the first in their families to go to college, although my mother's house didn't have indoor plumbing. I still remember her brothers installing their parents' first indoor toilet that my parents helped to pay for ~1955. Having an indoor toilet obviously doesn't cross our minds today as being part of trend towards consumerism but I'm sure it was a big deal for my grandparents.
I long ago lost track of how many times you have criticized the behaviors of those in younger generations. At least it has been some time since you've complained about tattoos and avocado toast.
Even though the fees for Vanguard's target dates are only 0.08%, you can easily create your own target date funds for less--Vanguard's Total Stock Market ETF (VTI) is 0.03% and it comparable mutual fund (VTSAX) has a fee of 0.04%. Over many years that difference adds up.
For the umpteenth time you've written a screed that boils down your obsession with personal responsibility.How about a thread with a supportive tone that focuses on how to help people improve the ability to manage their finances?
That noise will continue to grow exponentially and I would be surpised if you have changed a single opinion by posting on those sites. I can't imagine spending hours wasting my time on those sites.
Bernstein's revised edition of The Four Pillars of Investing has an excellent treatment of how to create a "guaranteed" flow of income. He prefers TIPS ladders but isn't against annuities.
There are 8 life-changing events that resulted in a reduction in income that can be used to request a reduction in IRMAA. Your IRMAA waiver may have been due to the fact that you retired.
Marriage.
Divorce or annulment.
Death of a spouse.
Work stoppage (e.g., full retirement).
Work reduction (e.g., changing from full-time to part-time employment).
Loss of income-producing property due to an event beyond your control (e.g., natural disaster, fraud, or theft).
Loss or reduction of certain kinds of pension income (due to plan failure, termination, or a scheduled cessation).
Receipt of an employer settlement payment due to an employer's closure, bankruptcy, or reorganization.
You can get quotes for annuities with COLAs that range from 1%-5% at immediateannuities.com. You do have to provide your email address. I'm a 77 year old male and National Integrity gave me a quotes for $100,000 annuities of $930/month for no COLA and $667/month for a 5% COLA ($720 for 4% and $774 for 3%).
There are no annuities that I know of that will pay you a COLA that adjusts for annual changes in inflation. They used to be offered but I think they disappeared 8-10 years ago. I searched briefly on fixed COLAs when interest rates were high and I couldn't find any above 3%. It appears that some major insurance companies are now offering larger COLAs.
Comments
I assume you noticed that the Morningstar withdrawal rate percentages are estimates that have a 90% probability of your not running out of money. My personal preference would be to use a rate that is close to 100%.
Post: Customizing the Safe Withdrawal Rate
Link to comment from January 8, 2026
Both sets of my grandparents first lived together in one room houses in the properties they were homesteading on--one in the Dakota Territory and the other in Saskatchewan, Canada. Neither one made it past lower middle class, but my parents were living in houses that were 750-1,000 sq ft by the time they graduated from high school and left home to become the first in their families to go to college, although my mother's house didn't have indoor plumbing. I still remember her brothers installing their parents' first indoor toilet that my parents helped to pay for ~1955. Having an indoor toilet obviously doesn't cross our minds today as being part of trend towards consumerism but I'm sure it was a big deal for my grandparents.
Post: The impossibility of defining needs.
Link to comment from January 5, 2026
I long ago lost track of how many times you have criticized the behaviors of those in younger generations. At least it has been some time since you've complained about tattoos and avocado toast.
Post: The impossibility of defining needs.
Link to comment from January 5, 2026
Even though the fees for Vanguard's target dates are only 0.08%, you can easily create your own target date funds for less--Vanguard's Total Stock Market ETF (VTI) is 0.03% and it comparable mutual fund (VTSAX) has a fee of 0.04%. Over many years that difference adds up.
Post: New Year’s Resolutions, Target Date Funds, and My New Friend Gemini
Link to comment from January 4, 2026
For the umpteenth time you've written a screed that boils down your obsession with personal responsibility.How about a thread with a supportive tone that focuses on how to help people improve the ability to manage their finances?
Post: Can a budget do all that?
Link to comment from January 3, 2026
That noise will continue to grow exponentially and I would be surpised if you have changed a single opinion by posting on those sites. I can't imagine spending hours wasting my time on those sites.
Post: Social media and our financial security. Move along nothing to see here.
Link to comment from December 29, 2025
Bernstein's revised edition of The Four Pillars of Investing has an excellent treatment of how to create a "guaranteed" flow of income. He prefers TIPS ladders but isn't against annuities.
Post: What is the standard advice for someone who wants guaranteed income in retirement?
Link to comment from December 29, 2025
There are 8 life-changing events that resulted in a reduction in income that can be used to request a reduction in IRMAA. Your IRMAA waiver may have been due to the fact that you retired.
Post: Is IRMAA a tax, a fee or a reduction in subsidy?
Link to comment from December 29, 2025
You can get quotes for annuities with COLAs that range from 1%-5% at immediateannuities.com. You do have to provide your email address. I'm a 77 year old male and National Integrity gave me a quotes for $100,000 annuities of $930/month for no COLA and $667/month for a 5% COLA ($720 for 4% and $774 for 3%).
Post: Please Sir, Can I Have Some More?
Link to comment from December 22, 2025
There are no annuities that I know of that will pay you a COLA that adjusts for annual changes in inflation. They used to be offered but I think they disappeared 8-10 years ago. I searched briefly on fixed COLAs when interest rates were high and I couldn't find any above 3%. It appears that some major insurance companies are now offering larger COLAs.
Post: Please Sir, Can I Have Some More?
Link to comment from December 22, 2025