Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
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#16
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Thanks...
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“Never take a person's dignity: it is worth everything to them, and nothing to you.” -Frank Barron |
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#17
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Learning experience on annuities
When we moved to the Villages 2 years ago, we owned one variable annuity that was managed by our financial planner. It wasn't until we went to one of the financial programs in TV that we realized the fees associated with this annuity; i.e., 4-5% per year. This was a variable annuity and required the financial planner to "move" funds within the annuity to maintain value. With fees of 4-5%, even if the fund made 8%, it really was only growing at 3%. We transferred the funds to a fixed annuity for a nominal one time fee with no annual fees, received a one-time bonus of 8%, and feel much more comfortable in our choice.
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#18
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#19
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I do have a revocable living trust. Mark Dayton is upsetting the apple cart. Hit them well. |
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#21
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Unfortunately, as you pointed out, trust and other legal tricks are always there to avoid paying fair share. |
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#24
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KISS (Keep it simple stupid)
I find it difficult to get involved with these plans that are not easily understood.
The only annuity that I might consider would be a Single Premium Immediate Annuity (SPIA). I would attempt to hold off as long as possible before purchasing, to allow interest rates to rise. |
#25
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I see roomates and senior communes in our future!
A number of those (communal livng) have already begun in the West and in the New England area. People of like interests sharing a home and
responsibilities and pooling dollars to live together into their twilight years. I suspect that wouldn't be such a bad idea either. Beats being all alone and worrying/wondering if the $ will last. |
#26
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St. Louis; Southern Illinois; Lake City, FL; Jacksonville, FL |
#27
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Hummmmmmmmmmmm, maybe some college kids and some old folks, kind of a combination. I kind of enjoyed some of those college dorm days.
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Life is to short to drink cheap wine. |
#28
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I believe most of you already know this but I would not take advice on buying annuties from anyone who sells any investment products. Do your own reasearch and ensure you understand all the fees you are paying.
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#29
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It's been great but I never take the market for granted. The secret, at least for me, is to live way below my means. I don't spend a lot of money just because I have it to spend. For all I know, I might live to be 100 or 115 and I don't want to run out of money. Who knows what inflation will do to the value of our retirement savings down the road. So it's better to play it safe and end up with too much, rather than too little. Many advisors talk about saving up a retirement nest egg and then slowly spending it down. That sounds like a sad state of affairs to me. Although, I suppose most people don't have any choice. But if people would learn how to invest wisely, they might be able to live below their investment income and therefore continue to increase their net worth during their retirement years. But, as you have said, it's not for everyone. Last edited by Villages PL; 10-28-2011 at 10:39 AM. Reason: Oops! Had to change early 80s to late 70s. 1979 was the first year that I became very active in the market. |
#30
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I2RH and VPL are fellow travelers to my way of thinking. The idea of drawing down your principle seems self defeating and assures, at some point, you will run out of money. To me, the challenge is to invest well enough to live off the income from your money, not the money itself. How that is done is fodder for a different discussion. I set my goals very high for return. I reach high because when I was looking for 15%, I got 11%. If I aim higher, do my homework, I get higher. The main falacy is that retirement finances are a "fire & forget" proposition. ((Make your choice then live with the results)) Finances are like a garden, they both need a lot of tending to produce the best results.
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Tom W |
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