2CoolFishing - Reply to Topic
Home  |  Contact Us  |  Advertise   |   Follow:

Go Back   2CoolFishing > General Interest Forums > Investments and finance > Are you retired and

Thread: Are you retired and Reply to Thread
Title:
  
Message:
Post Icons
You may choose an icon for your message from the following list:
 
 
 
 
 
 
 
 
 
 

Register Now

In order to be able to post messages on the 2CoolFishing forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in


Additional Options
Miscellaneous Options

Topic Review (Newest First)
03-30-2018 02:57 PM
fishingcacher I think my advisor would go nuts if I keep calling him to buy and sell FB every hour.
03-27-2018 01:35 PM
CobraO
Quote:
Originally Posted by KneeDeep&Sink'N View Post
My wife retired in 2009 and went with an advisor for Raymond James. I retired in 2010 and went with Fisher Investments. I was with Fisher for three years but got tired of their constant trading. Each trade was costing me $50.00. Moved mine to Raymond James. Our advisor has given us some good advice over the years and has saved us from several pitfalls. One of which is advising us that when you take money out of your IRA you pay taxes on it. However, if you take money out of an inherritance, you don't pay taxes on it. With my pension and investments and her taking monthly draws on her in herritance, she has never had to take money out of her IRA, nor have I had to tap into my self managed 457 & we do very well. This year I started buying a few stocks on my own. Mostly out of boredom and wanting something to play with. I use Motley Fool for a lot of my research. I consider it a substitution for making trips to a casino. (I never buy more than $500. worth of stock at a time and only when the DOW drops by 200 points in one day.) I bought Cirrus Logic right before the market closed today.

All advisors are not the same, even when with the same company. Her brother also uses Raymond James and he had been taking money out of his IRA for years before my wife told him he should be taking it out of his inherritance. He as not happy that his advisor never told him he could do this tax free. Our advisor has offices in Bellaire and Clear Lake. Great, down to earth guy. If you would like his info, let me know. It doesn't cost anything for a consultation.

*I will add that when I first retired, I went to Ameriprise and when I told them how much money I had, they wanted $1,500.00 to "work up" a plan. I laughed at them and left. They later contacted me and wanted me to come back and there would be no fee to work up that plan. Told them no thanks and never looked back.
What do you mean by taking money out of an inheritance? You just mean taking it out of the bank? Meaning it is money someone has left to you? Or the money you plan to leave to kin?
03-26-2018 06:09 PM
Huntman3 The perfect retirement position is to have accumulated enough income producing assets to be able to live off of a 3-4% return. Otherwise you are forced to be in the market and take on the risk of having to earn higher percentages in order not to run out of money.

DO NOT let the past recent years be your benchmark. Those of us old enough to have been in the market in 2008 understand that you can wake up one morning with 40-50% less in your accounts than you had before. Recovering from that is not where you want to be while in retirement and having to draw money out for income.
03-23-2018 07:37 PM
Flat's Hunter .



Sent from my Pixel XL using Tapatalk
03-23-2018 07:20 PM
tec I've been retired for 12 years and thanks in large part to my financial advisor I'm worth more now than then.
03-21-2018 09:49 AM
fishingcacher
Quote:
Originally Posted by Tumble Weed View Post
Not retired yet. I put 100% of my stock investments in the S&P 500. The S&P 500 outperforms at least 75% of all portfolios in the long run. I just set it and forget it. My wife can spend it all when I die.
Probably a good plan if you are not near retirement.
03-19-2018 09:12 PM
KneeDeep&Sink'N
I use Raymond James.

My wife retired in 2009 and went with an advisor for Raymond James. I retired in 2010 and went with Fisher Investments. I was with Fisher for three years but got tired of their constant trading. Each trade was costing me $50.00. Moved mine to Raymond James. Our advisor has given us some good advice over the years and has saved us from several pitfalls. One of which is advising us that when you take money out of your IRA you pay taxes on it. However, if you take money out of an inherritance, you don't pay taxes on it. With my pension and investments and her taking monthly draws on her in herritance, she has never had to take money out of her IRA, nor have I had to tap into my self managed 457 & we do very well. This year I started buying a few stocks on my own. Mostly out of boredom and wanting something to play with. I use Motley Fool for a lot of my research. I consider it a substitution for making trips to a casino. (I never buy more than $500. worth of stock at a time and only when the DOW drops by 200 points in one day.) I bought Cirrus Logic right before the market closed today.

All advisors are not the same, even when with the same company. Her brother also uses Raymond James and he had been taking money out of his IRA for years before my wife told him he should be taking it out of his inherritance. He as not happy that his advisor never told him he could do this tax free. Our advisor has offices in Bellaire and Clear Lake. Great, down to earth guy. If you would like his info, let me know. It doesn't cost anything for a consultation.

*I will add that when I first retired, I went to Ameriprise and when I told them how much money I had, they wanted $1,500.00 to "work up" a plan. I laughed at them and left. They later contacted me and wanted me to come back and there would be no fee to work up that plan. Told them no thanks and never looked back.
03-16-2018 02:32 PM
Tumble Weed Not retired yet. I put 100% of my stock investments in the S&P 500. The S&P 500 outperforms at least 75% of all portfolios in the long run. I just set it and forget it. My wife can spend it all when I die.
03-09-2018 07:12 PM
pknight6 I retired two tears ago. I live fairly well of my investment and it has still grown over 10%. I use a money manager and as long as he keeps it growing I'll keep using him.
03-07-2018 10:31 AM
Meadowlark
Quote:
Originally Posted by bigfishtx View Post
I question getting into any bond fund right now. With interest rates going up, those bonds are going to lose value. Am I wrong?

Not in my book, you aren't wrong. Not good timing on bonds, IMO.

Retired in 77351.

Have a service that manages accounts administratively, like required distributions, taxes etc, but I make all the financial investment decisions....and am extremely happy with the results.

p.s. should add, yes I pay a fee for the services...best money I can spend cause it frees me up to go fishing and have fun.
This thread has more than 10 replies. Click here to review the whole thread.

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off


All times are GMT -5. The time now is 09:47 AM.


Powered by vBulletin® Version 3.8.8
Copyright ©2000 - 2020, vBulletin Solutions, Inc.
Resources saved on this page: MySQL 15.79%
vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
Copyright 2019
© 2013 Noreast Media, LLC | Terms of Service | Contact Us | Advertise