Not a bad idea but remember when you're 65 you have your Medicare deducted from the amount.

After yesterdays news of Russian moves, and stock markets dropping, it may be wise to sit tight with the cash for a while.
Oil price is going to get very lively!

I have been investing about 25% of money in
Invesco Value Municipal Income Trust Municipal Bond Fund, symbol IIM, you can purchase using any Brokerage Account. Trades like a stock so you can sell any time on any trading day if you need cash. Pays a monthly dividend every 1st of the month, Annual dividend around 4.8%. The Best Part it is totally Federal Tax Free and if you are a Florida resident that means there is no state income tax either. I have been following this fund for approximately 5 years. The price does fluctuate up and down, last price quote was $15.12 a share, but the dividend is there each and every month. Now is a good time to purchase with the market prices are down. I don't portray myself as a financial advisor but in my opinion, this is relatively a safe investment.

Do you know if Social Security is counted against the IRMMA calculation?

Thanks

The taxable portion of your Social Security income is included in the IRMMA calculation, but not the tax exempt part.

Dxy
 

With the impending market crash coming, the only thing that traditionally goes up when the market goes down is the DXY. Once the market has gotten close to or at the bottom, you can move those funds into any investment you want and will likely do well.

The only question is not if the market crashes, but how it crashes. Will it be a quick crash (like the COVID crash) with a long recovery or will it be a slow downward trend with an even longer recovery. No one knows this part.

Hey dwilson58, since you are a financial expert, I said everything went DOWN in the 2008 Stock Market Crash. You are citing yearly numbers. I am talking about the very DAY the Market crashed.

And no one knows for sure how long it takes after a crash to recover. If you are old, you might not ever get back to even.

Besides I am also talking about INCOME which is more important to us now because just cash (when gone, is gone.)

Nice Try, one day does not matter.
What ONE DAY in 2008 were you talking about???

Actually you stated, EVERYTHING will go down THE SAME, look at 2008.
False.
Looking at 2008, different categories went in different directions and different amounts.

(your stmt: EVERYTHING will go down the same percentage. Just look back at 2008 in every category.)

Be Smart
 

Don't invest in anything unless you can buy another house in the Villages and rent it out otherwise Keep your money too many Good Scammers out there and you'll eventually lose it all.

Stablecoin Staking
 

TRIGGER WARNING: Crypto

If you buy some USDC (U.S. Dollar Coin) on crypto.com you can earn 6-12% per annum depending on how long you lock it up (0-3 months). USDC is a "stablecoin" so the price stays about $1 and is not volatile like most cryptocurrencies.

There are two different apps. Crypto.com DeFi Wallet (Non-custodial Wallet) is the version of the app where you hold custody of the keys. If you lost your keys e.g. written down on a piece of paper and stored in a text file on a USB stick - your money is gone. The Crypto.com App is a custodial wallet meaning your money is in the control of crypto.com.

They are not FDIC insured by are insured by Lloyd's.

There is a stablecoin called Tether (USDT) that is notoriously sketchy but USDC is different.

Note: I considered the above for my in-laws but haven't done it yet, because they don't need the extra income. Was going to help them buy a rental property but then prices went through the roof.

Will you marry me? I know what to do with the money.

T
 

ATT is cutting their dividend in 1/2 so it will not be 8%

If I were you, I would sit on that cash for a while longer. I think we are going to see some buying opportunities (euphemism) maybe before the end of the year.

That does not mean that longterm, seasoned investors will be selling. It just means that, in my opinion, it is not the time to jump into the market. Seasoned investors tend to keep some sideline cash, and maybe even a watchlist, because they are waiting for “buying opportunities.” But seasoned investors know what they own and why they own it and have seen a lot of markets and most importantly, they know themselves.

Advisors, and probably anybody who talks about it, have been having a fine time in the market since it started to climb back in 2008 — after the idiotic lending practices of the early part of this century collapsed the housing market (with those drive-by appraisals and stated assets loans) — and took the stock market with it.

During that time, there were seasoned investors who continued to hold their backbone stocks and then started buying in with some of their sideline cash when things got cheap enough. That kind of investor probably has no regrets. They know what kind of losses they can stomach.

At this time, the market is coming under a broader kind of pressure with Russia and oil and inflation and mortgage rates beginning to inch up already. (I do not think we will see CD rates moving much though. That would take a really long time and would have to mean inflation gone wild, really wild.)

There is so much coming to bear on the market right now that being new to investing and jumping in might really hurt.

You’ll get there, eventually. Meanwhile, keep learning. You’ll get your chance.

Even though you might feel like you have to put that money to work right now, if I were you, I would do what a couple of others in this thread have suggested — I would get a job. I am not talking about a career type job — just a job to cover some of your expenses so that you do not have to live totally off your cash. Build a moat around around that cash by working — even part-time would help.

I do not see how the next few months are going to be anything but rough for the market. (I have not been having the most pleasant couple of weeks.) But I found my sea legs a long time ago. It sounds like you are very new at this. . .so when you do go in, do not dive — just wade a little — as with dollar-cost averaging. And wear a life jacket.

Boomer (just talking about what I would do if I were the OP. I am not claiming to actually know anything about where the market is going. Nobody does. But some will pretend they do.)

Don’t put all of your hopes and resources into one goal or dream
 

Don't think you are going io make a Killing

Er, is that legal in Florida??!?