[RVJim]

Originally Posted by nn0wheremann

What goes up comes down. It is all Monopoly Money, just paper, unless you sell, and monetize the loss. Interest rates are still cheap. If you need cash, borrow. Otherwise, hang on, this roller coaster is a long way from bottom.

As long as one has enough dollars to get them thru to their final breath it really doesn’t matter. I don’t honestly get the hand wringing over the market’s ups and downs. If you have structured your retirement correctly, your investments are largely insensitive to market volatility, your unsecured debt is zero, house paid for with no mortgage, you have sufficient cash flow to support yourself and your kids are educated living their life with a solid career.

For those yapping and fretting about leaving inheritances to family, you did something wrong somewhere. My kids are educated and working in solid careers supporting themselves. The last thing they need from me is an after death hand out. What is left after estate taxes and final expenses will all go to charity.

[Stu from NYC]

Originally Posted by RVJim

As long as one has enough dollars to get them thru to their final breath it really doesn’t matter. I don’t honestly get the hand wringing over the market’s ups and downs. If you have structured your retirement correctly, your investments are largely insensitive to market volatility, your unsecured debt is zero, house paid for with no mortgage, you have sufficient cash flow to support yourself and your kids are educated living their life with a solid career.

For those yapping and fretting about leaving inheritances to family, you did something wrong somewhere. My kids are educated and working in solid careers supporting themselves. The last thing they need from me is an after death hand out. What is left after estate taxes and final expenses will all go to charity.

Agree with you except for last paragraph.

Nothing wrong with enjoying your retirement to the fullest and leaving some dollars to kids and grandkids to make their life better and easier.

[manaboutown]

Originally Posted by RVJim

As long as one has enough dollars to get them thru to their final breath it really doesn’t matter. I don’t honestly get the hand wringing over the market’s ups and downs. If you have structured your retirement correctly, your investments are largely insensitive to market volatility, your unsecured debt is zero, house paid for with no mortgage, you have sufficient cash flow to support yourself and your kids are educated living their life with a solid career.

For those yapping and fretting about leaving inheritances to family, you did something wrong somewhere. My kids are educated and working in solid careers supporting themselves. The last thing they need from me is an after death hand out. What is left after estate taxes and final expenses will all go to charity.

Some of us are in the same situation. If you do not mind sharing your ideas to which charity or charities are you leaving your estate?

[rjm1cc]

Originally Posted by Babubhat

Not expecting many got people out when the should have. What excuses do they give you? Wait 10 years and it will be fine. Many don’t have that long

Your financial planner is not a market timer. I would not expect them to tell you to sell your investments, pay capital gain taxes and then invest what is left some time in the future.

I would expect then to help you not panic and sell.

[DAVES]

Reality, we are all uncomfortable, some need an advisor to perhaps, hold their hand. Perhaps, for some someone besides themselves to blame.
Things are far from what they used to be. Pensions are far more rare than they used to be. That forces people to fund their own retirement. At one time, not that long ago you could build a treasury bond ladder. Treasuries would pay the rate of inflation plus 2%.
That 2% would cover the taxes. On treasuries you pay fed tax but not state or local tax. Today the ten year treasury is paying less than 3%.

Our current economic reality. The CPI is now roughly 8%. You pay that with after tax money. On top of that the stock market has lost roughly 14% in the past six months.
This year year to date is the first year the market has been down in roughly 15.

Hindsight is always 20/20. Woulda, shoulda, coulda, mighta. With the CPI at 8% and you need to pay that with after tax money, in CASH you are losing roughly 12%.

Where to hide-BEATS ME. Some may wish to look at TIPS. They dare not say so but they are a clear indication that our government plans on continuing to fuel inflation.

[DAVES]

Originally Posted by manaboutown

Some of us are in the same situation. If you do not mind sharing your ideas to which charity or charities are you leaving your estate?

In terms of leaving money to charity, which charity to leave it to, should be YOUR CHOICE not a choice made by others.

There is no shortage of worthy causes. We regularly see well done ads on TV. We all need to realize those ads cost money. That money comes from donations to the charity.

People who send donations often do not realize how much of each dollar you give goes to expenses including often obscene income packages for staff.

The information is public.

Direct charity. I used to work in New York City. The panhandlers are crawling all over the place. I only gave once. I guy said I'm not gonna lie. I need money for a drink.
Honest and I knew 100% was going where he said it was going.

[DAVES]

Originally Posted by rjm1cc

Your financial planner is not a market timer. I would not expect them to tell you to sell your investments, pay capital gain taxes and then invest what is left some time in the future.

I would expect then to help you not panic and sell.

That is how it should be but possibly not how it is. Some financial advisors are paid by the hour so their compensation is the same no matter what you do. Others work on commission. Annuities pay a high rate of commission so you will find them pushing annuities and other high commission products.

A financial advisor tied to a bank or a brokerage will of course not advise you of better choices with another bank or another brokerage.

[Stu from NYC]

Originally Posted by DAVES

That is how it should be but possibly not how it is. Some financial advisors are paid by the hour so their compensation is the same no matter what you do. Others work on commission. Annuities pay a high rate of commission so you will find them pushing annuities and other high commission products.

A financial advisor tied to a bank or a brokerage will of course not advise you of better choices with another bank or another brokerage.

Very true, how they get paid will have a direct bearing on what they push you into.

Seems to me a fee only planner would have the most reason to guide you according to what you need and want.

[retiredguy123]

Originally Posted by DAVES

In terms of leaving money to charity, which charity to leave it to, should be YOUR CHOICE not a choice made by others.

There is no shortage of worthy causes. We regularly see well done ads on TV. We all need to realize those ads cost money. That money comes from donations to the charity.

People who send donations often do not realize how much of each dollar you give goes to expenses including often obscene income packages for staff.

The information is public.

Direct charity. I used to work in New York City. The panhandlers are crawling all over the place. I only gave once. I guy said I'm not gonna lie. I need money for a drink.
Honest and I knew 100% was going where he said it was going.

There is no shortage of unworthy causes also.

I would disagree that the information is public. Have you ever read a Form 990 that charities are required to file annually with the IRS? I have read a lot of them, and they rarely contain clear and accurate information about the charity. There are thousands, if not millions, of charities. And a lot of IRS approved charities (501c3) are nothing more than scams.

[tvbound]

Charity Navigator - Your Guide To Intelligent Giving | Home

[Stu from NYC]

Originally Posted by retiredguy123

There is no shortage of unworthy causes also.

I would disagree that the information is public. Have you ever read a Form 990 that charities are required to file annually with the IRS? I have read a lot of them, and they rarely contain clear and accurate information about the charity. There are thousands, if not millions, of charities. And a lot of IRS approved charities (501c3) are nothing more than scams.

And for a lot of them once you make a contribution you get mail from them every couple of weeks asking for more. And lots of them thank you for your contribution by sending address labels more money that does not go to the cause they are soliciting for.

[manaboutown]

Originally Posted by Stu from NYC

And for a lot of them once you make a contribution you get mail from them every couple of weeks asking for more. And lots of them thank you for your contribution by sending address labels more money that does not go to the cause they are soliciting for.

One of my aunts died in 1994 and I handled her estate. 28 years later I am still getting mail addressed to her from charities claiming to aid American Indians.

[Garywt]

I have never had one so not paying anything. Spent a good chunk of my 401k when I went out on disability. Figured my wife could sell my toys and get my life insurance when I die but wanted to do as much as I could before the end.

[Stu from NYC]

Originally Posted by manaboutown

One of my aunts died in 1994 and I handled her estate. 28 years later I am still getting mail addressed to her from charities claiming to aid American Indians.

Amazingly our son gets mail here from charities over and over. Never lived here and went off to college 25 years ago.

[Boomer]

Villages Investment Education Club (villagesie.weebly.com) meeting, Thursday, June 9, @3:00 ‘til 4:30 PM, at Sea Breeze

Meeting Topic:

“The Financial Landscape in the Villages Area” (How to tell the difference in the large number of companies and their different offerings.)

Should be interesting.

On June 23, the club will have a dividend discussion.

Boomer