BajaNomad - Source of Retirement Funds

Source of Retirement Funds

tripledigitken - 4-1-2011 at 07:53 PM

What is the source of your retirement income?

tripledigitken - 4-2-2011 at 07:15 AM

I knew a retired serviceman/women was out there. Thanks for your service!!

I started this as more than a few have posted that they are close to retirement and ready to move to Mexico.

Congratulations are in order to those close or already retired.

bajalou - 4-2-2011 at 08:20 AM

Doesn't have any way of showing combinations---

monoloco - 4-2-2011 at 08:26 AM

I'll never be retired, just tired.

DENNIS - 4-2-2011 at 08:38 AM

VA Disability----100%
Union Pension--------20 bucks diario for beer
Soc Sec----------80 % of max.

The poll needs more buttons.

TMW - 4-2-2011 at 08:46 AM

Quote:

Originally posted by monoloco
I'll never be retired, just tired.

If you are tired everyday isn't that a sort of retired?

TMW - 4-2-2011 at 08:49 AM

Four pensions, three from the same co. All together they're not bad.
IRA
My society security and the wifes.

akbear - 4-2-2011 at 10:05 AM

Union retirement & SS.

akbear

Bob H - 4-2-2011 at 10:31 AM

Need multiple choices for many of us. I have three sources of retirement funds.

UCSD pension
403(b) investments
Roth IRA investments

And, soon to add Social Security in less than a year!!

Oh, and full time wife income from American Airlines ...

[Edited on 4-2-2011 by Bob H]

BajaBlanca - 4-2-2011 at 12:47 PM

Bob, if she every has any freebees to give away ...ummmm....we volunteer to take tickets off her hands :yes:

DENNIS - 4-2-2011 at 01:04 PM

Quote:

Originally posted by Bob H
Need multiple choices for many of us. I have three sources of retirement funds.

UCSD pension
403(b) investments
Roth IRA investments

And, soon to add Social Security in less than a year!!

Oh, and full time wife income from American Airlines ...

Jeeeezo...You guys are rollin' in fun tickets. How nice.

More choices

bajaguy - 4-2-2011 at 01:49 PM

We have several.........and you do not have enough choices for multiple sources!!!!!!

bajamedic - 4-2-2011 at 03:05 PM

Why Do I Like Retirement !!!

Question: How many days in a week?
Answer: 6 Saturdays, 1 Sunday

Question: When is a retiree's bedtime?
Answer: Three hours after he falls asleep on the couch.

Question: How many retirees to change a light bulb?
Answer: Only one, but it might take all day.

Question: What's the biggest gripe of retirees?
Answer: There is not enough time to get everything done.

Question: Why don't retirees mind being called Seniors?
Answer: The term comes with a 10% discount.

Question: Among retirees what is considered formal attire?
Answer: Tied shoes.

Question: Why do retirees count pennies?
Answer: They are the only ones who have the time.

Question: What is the common term for someone who enjoys work and refuses to retire?
Answer: NUTS!

Question: Why are retirees so slow to clean out the basement, attic or garage?
Answer: They know that as soon as they do, one of their adult kids will want to store stuff there.

Question: What do retirees call a long lunch?
Answer: Normal .

Question: What is the best way to describe retirement?
Answer: The never ending Coffee Break.

Question: What's the biggest advantage of going back to school as a retiree?
Answer: If you cut classes, no one calls your parents.

Question: Why does a retiree often say he doesn't miss work, but misses the people he used to work with?
Answer: He is too polite to tell the whole truth.

And, my very favorite....
QUESTION: What do you do all week?
Answer: Monday through Friday, NOTHING..... Saturday & Sunday, I rest. JH :tumble:

tripledigitken - 4-2-2011 at 04:04 PM

Quote:

Originally posted by bajaguy
We have several.........and you do not have enough choices for multiple sources!!!!!!

congratulations!

Bob H - 4-2-2011 at 05:10 PM

Quote:

Originally posted by DENNIS

Quote:

Jeeeezo...You guys are rollin' in fun tickets. How nice.

"Fun tickets" I love it! Couldn't have planned the waining days of my life any better!

TMW - 4-3-2011 at 11:02 AM

Quote:

Originally posted by Bob H

Oh, and full time wife income from American Airlines ...

[Edited on 4-2-2011 by Bob H]

Keep her working so she won't find things for you to do.

bacquito - 4-3-2011 at 02:55 PM

Quote:

Originally posted by monoloco
I'll never be retired, just tired.

Yup!!

Bajahowodd - 4-3-2011 at 04:22 PM

Perhaps, as someone else mentioned, the poll choices could have been expanded. I mention this simply because the majority of Americanos have some credit with social security. But, if anyone ever dreamed about living fat from SS, good luck to you.

That said, although I wholly understand Ken's query, it does not come in a vacuum. There are many so-called elected officials in DC who are looking to gut social security and medicare.

As for SS, although I do realize that there are loud voices to the contrary, fact is that for a huge majority of folks, they contributed along with their employer to provide the benefit.

Medicare, although a somewhat different animal, does present its own challenge. Let's just say that among us are people who have one or more afflictions. Whether chronic or not, these people have been taught to believe that when they reached 65, there would be a safety net known as Medicare.

Anyone consider what the costs would be, if even available, for folks to buy private health insurance in the absence of Medicare at age 65 or plus, when they have had skin cancer, emphysema, breast or prostate cancer? Or a number of other conditions.

Just wondering. Hope you don't think I'm hijacking the thread, Ken.

tripledigitken - 4-3-2011 at 04:49 PM

Quote:

Originally posted by Bajahowodd
Perhaps, as someone else mentioned, the poll choices could have been expanded. I mention this simply because the majority of Americanos have some credit with social security. But, if anyone ever dreamed about living fat from SS, good luck to you.

Just wondering. Hope you don't think I'm hijacking the thread, Ken.

You can't, at least I can't, edit the options/answers after it is posted. I wish I had said, what I was thinking, what is the largest share of your retirement income. I think that is how most treated it or answered "other". My main interest was just how many live off SS.

Thanks all for voting anyway, I found it interesting. I've done these polls before and there are always things I wish I had put in after the fact.

Howard,

Highjacking is an art which I appreciate and encourage.

Ken :cool:

comitan - 4-3-2011 at 06:18 PM

Yes Ken other.

BajaGringo - 4-3-2011 at 06:43 PM

Other...

wilderone - 4-5-2011 at 09:54 AM

A bit of a hijack, but ...

I'd be interested in opinions on annuities. Been going to a few seminars, but feel a little unnevred about plunking everying into one of these. What's the most important consideration?

tripledigitken - 4-5-2011 at 10:01 AM

Quote:

Originally posted by BajaGringo
Other...

You're too young to be retired!

tripledigitken - 4-5-2011 at 10:05 AM

Quote:

Originally posted by wilderone
A bit of a hijack, but ...

I'd be interested in opinions on annuities. Been going to a few seminars, but feel a little unnevred about plunking everying into one of these. What's the most important consideration?

Wilderone,

Are you talking an immediate annuity? If you are, I would wait for interest rates to rise, which appears to be the case in the not too distant future. (When you do an IA you lock in today's interest rates for life as a benchmark of the payout.)

Just my 2 cents

Ken

[Edited on 4-5-2011 by tripledigitken]

BajaGringo - 4-5-2011 at 10:17 AM

Quote:

Originally posted by tripledigitken

Quote:

Originally posted by BajaGringo
Other...

You're too young to be retired!

That is because I am still working (and working and working...) on it!

:lol:

Bajahowodd - 4-5-2011 at 12:58 PM

Quote:

Originally posted by tripledigitken

Quote:

Absolutely spot on, Ken. Anyone compelled to take an immediate annuity in the last couple of years is likely going to feel envious of those who could wait.

sancho - 4-5-2011 at 02:57 PM

Quote:

I've pondered that ? also, compared to, say a CD return,
annuities look good, I'm sure you know more than
I, considering you have attended seminars, 1 item
that bugs me is if the Annuity Co goes under, I don't believe
they are insured, so does
your investment, a recent article suggests not much
more than 20% of your nest egg should go into
an annuity, there is , as of today a possible bit of
movement in interest rates
Bajahowood, this was something I glanced at off a yahoo
finance item a while back, don't know if I could find it

[Edited on 4-5-2011 by sancho]

[Edited on 4-5-2011 by sancho]

Bajahowodd - 4-5-2011 at 03:04 PM

Good point. However, considering the prevailing "too big to fail" ethos, I imagine that if one was to go with one of the larger firms, it might not be perilous. That raises the issue about interest rates. Likely, the best rates you will find will be from exactly the companies that are not too big to fail.

I'd be interested in reading the article you cite. Can you point me to it? Thanks.

monoloco - 4-5-2011 at 04:46 PM

I'd be really careful about any annuity that's denominated in dollars, the way the fed is printing them you may need wheelbarrows full to buy anything in the future.

wilderone - 4-5-2011 at 08:40 PM

A couple annuities that have some appeal have never - in over 100 years - lost principal they say. One company is Aviva. I'll learn about the other this week. They both track the S&P 500, and you gain what it gains annually (full benefit from upside action), and there is a minimum gain (like 2%) when the S&P loses. The previous gains don't diminish - you just build on the current balance. I actually saw many statements where they gained 20%-23% last year. One has a 7% bonus when you buy into it. One is a 12 year contract which you can renew if you want, and 4 or 5 hardship conditions where you can withdraw money outside the normal disbursements. You can choose a death benefit option where your disbursement would be less, but you'd be building a specific amount for a beneficiary (this would be a good option if you don't have life insurance). The other can be structured as a stretch IRA where your beneficiary would get the same deal as you have gotten (continued annual payout until death) instead of a lump sum. What I like about these is that your principal never diminishes, whereas if I start taking required minimum distributions in an account invested in various mutual funds, the principal will erode (but also be subject to the ups and downs of the market). It's a difficult decision even if you understand it, because you don't know what the future holds and can be satisfied that this is the right thing for all circumstances. True, they are not FDIC insured. Thanks for your opinions though.

tripledigitken - 4-5-2011 at 08:50 PM

Quote:

Originally posted by wilderone
A couple annuities that have some appeal have never - in over 100 years - lost principal they say. One company is Aviva. I'll learn about the other this week. They both track the S&P 500, and you gain what it gains annually (full benefit from upside action), and there is a minimum gain (like 2%) when the S&P loses. The previous gains don't diminish - you just build on the current balance. I actually saw many statements where they gained 20%-23% last year. One has a 7% bonus when you buy into it. One is a 12 year contract which you can renew if you want, and 4 or 5 hardship conditions where you can withdraw money outside the normal disbursements. You can choose a death benefit option where your disbursement would be less, but you'd be building a specific amount for a beneficiary (this would be a good option if you don't have life insurance). The other can be structured as a stretch IRA where your beneficiary would get the same deal as you have gotten (continued annual payout until death) instead of a lump sum. What I like about these is that your principal never diminishes, whereas if I start taking required minimum distributions in an account invested in various mutual funds, the principal will erode (but also be subject to the ups and downs of the market). It's a difficult decision even if you understand it, because you don't know what the future holds and can be satisfied that this is the right thing for all circumstances. True, they are not FDIC insured. Thanks for your opinions though.

The individual that sells those products get a 5%+- commission when they sell them. The fees on the mutual fund investments are high as well. While your doing your research please talk to any number of fee based investment advisers (ones that don't sell products) and I think you will find that the majority think variable annuities are a bad investment for most individuals.

what are your medicare benefits?

mtgoat666 - 4-6-2011 at 08:13 AM

y'all forget to mention medicare?
did you see the republicans this week proposed to let all people today over 55 live out their lives on medicare, and all people today under 55 will be given peanuts.
i guess you elderly are set for life, and us youth are now responsible for supporting you oldsters, so us youth need to find a way to tax the old & rich.
funny thing is that medicare will continue to run up debt, and todays youth won't be able to use medicare, but todays youth will have the pleasure of paying off the debt.
how about we increase the estate tax for people today over 55 to pay for the medicare that only they will be allowed to get?

LaloinBaja - 4-6-2011 at 08:20 AM

Social Security for the esposa...SS disability for me...Seems just to be enough each month...We travel every other month...between doctors' appts and other minor things that get in the way...we live in BCN 100% of the time....

fishingmako - 4-6-2011 at 10:54 AM

Get into foreign currencies, some have great returns.

baronvonbob - 4-6-2011 at 11:19 AM

Quote:

Originally posted by mtgoat666
y'all forget to mention medicare?
did you see the republicans this week proposed to let all people today over 55 live out their lives on medicare, and all people today under 55 will be given peanuts.
i guess you elderly are set for life, and us youth are now responsible for supporting you oldsters, so us youth need to find a way to tax the old & rich.
funny thing is that medicare will continue to run up debt, and todays youth won't be able to use medicare, but todays youth will have the pleasure of paying off the debt.
how about we increase the estate tax for people today over 55 to pay for the medicare that only they will be allowed to get?

And who paid school taxes for you? Somebody must have raised you or are your ancestors Goats?

Lobsterman - 4-6-2011 at 12:21 PM

* Annuity for working for a company 38 years.
* SS
*401 K
* savings
* younger executive wife still working full-time for the next 7 years.

jimgrms - 4-7-2011 at 07:47 AM

Navy ret
Union ret
SS
90%VA disability

bajadock - 4-7-2011 at 11:43 AM

Next 10-20 years should be interesting during boomers' retirement period. I know too many who have lots of stuff and little plan for their next phase. "Big hats, big boots, no cattle"

Business hiring trend seems to be more contract employees without health or retirement benefits.

I never really retired. Just stopped working. No income for me, so I'm on fixed outgo.

Quick read on beginning of U.S. pensions.

Sweetwater - 4-7-2011 at 06:41 PM

Quote:

Originally posted by bajamedic
Why Do I Like Retirement !!!

Question: How many days in a week?
Answer: 6 Saturdays, 1 Sunday

Question: When is a retiree's bedtime?
Answer: Three hours after he falls asleep on the couch.

Question: How many retirees to change a light bulb?
Answer: Only one, but it might take all day.

Question: What's the biggest gripe of retirees?
Answer: There is not enough time to get everything done.

Question: Why don't retirees mind being called Seniors?
Answer: The term comes with a 10% discount.

Question: Among retirees what is considered formal attire?
Answer: Tied shoes.

Question: Why do retirees count pennies?
Answer: They are the only ones who have the time.

Question: What is the common term for someone who enjoys work and refuses to retire?
Answer: NUTS!

Question: Why are retirees so slow to clean out the basement, attic or garage?
Answer: They know that as soon as they do, one of their adult kids will want to store stuff there.

Question: What do retirees call a long lunch?
Answer: Normal .

Question: What is the best way to describe retirement?
Answer: The never ending Coffee Break.

Question: What's the biggest advantage of going back to school as a retiree?
Answer: If you cut classes, no one calls your parents.

Question: Why does a retiree often say he doesn't miss work, but misses the people he used to work with?
Answer: He is too polite to tell the whole truth.

And, my very favorite....
QUESTION: What do you do all week?
Answer: Monday through Friday, NOTHING..... Saturday & Sunday, I rest. JH :tumble:

Can I comment on how much I enjoyed reading and sharing this with many friends..... :coolup: