Post Your Wins

[disneysteve]

I sold two more of the catalogs I listed on ebay today. I'll get them packed up and ship them out tomorrow.

I also got a call to do an in-person survey on 9/22. One hour interview for $200.

[TexasHusker]

my goal is not to touch it until retirement age, I am pretty sure this isn't feasible but I'm really gonna try

What do you have it invested in, and how long to retirement? If you don't mind me asking.

[FLA]

What do you have it invested in, and how long to retirement? If you don't mind me asking.

I welcome the input. I'm 46, retirement had previously been planned for 62, although both Vanguard and the retirement guy at work said I was on target at 44 to retire at 55. So I'd like to not touch it until at least 55, preferably 62.

I'm invested in Vanguard Index funds, the S&P 500, total stock index and 10% in total bonds index.

My income has dropped to 24,500. That is being eaten up by medical costs but I'm managing as I sold my home to go in on a home with my parents to care for my terminally ill mother. So I have no mortgage, car payment or debt. I keep my cost of living low.

so I'm hoping to be able to scrape by on that income for at least 9 more years

[TexasHusker]

I welcome the input. I'm 46, retirement had previously been planned for 62, although both Vanguard and the retirement guy at work said I was on target at 44 to retire at 55. So I'd like to not touch it until at least 55, preferably 62.

I'm invested in Vanguard Index funds, the S&P 500, total stock index and 10% in total bonds index.

My income has dropped to 24,500. That is being eaten up by medical costs but I'm managing as I sold my home to go in on a home with my parents to care for my terminally ill mother. So I have no mortgage, car payment or debt. I keep my cost of living low.

so I'm hoping to be able to scrape by on that income for at least 9 more years

From my view, the risk that there will be a substantial downtown in the market in the next 9 years is quite high. I wish you would consider parlaying your $500K into good income for the next 9 years and your retirement after that!

If you could find something that even paid you $30,000 a year from now on, why wouldn't you consider it? Over the next 9 years, that's $270,000 in income!

My point is, if you think a little out of the IRA box, you've got a huge amount to fund a good income right now, without risking your $500K in a bear market - which over the next 9 years is a sure thing IMO.

[FLA]

Do you have examples because I've been locked into retirement savings single-mindedly since I was 22?

[TexasHusker]

Do you have examples because I've been locked into retirement savings single-mindedly since I was 22?

Sure, but let's follow your plan out for a ways....let's say you're able to double your $500K to $1 million in 10 years. What do you hope to put it in at that time to provide income? Will you shift into something conservative 5 years from 55?

On the other hand, what happens if it's worth $650K in 10 years? Keep working?

I'm curious what the end game is with the pot of money - how much you expect it to yield each month, etc.

Will you adjust your lifestyle to fit whatever the amount ends up being? The idea is this: the stock market winds over the next 9 years are unknown. Is your retirement reliant on favorable winds?

What if you could get out of the "weather anxiety" business altogether and enjoy good income with security starting now? Would you do it? It's possible, if you think outside of the IRA box.

[FLA]

I'm not working, I'm disabled although I hope this changes, I have no assurances that it will. So this is my biggest asset. I am afraid to mess around with it. I don't feel I need more money yet to live on, I'm ok so far being low income. So I wouldn't want that money to serve me yet, I'd prefer to make more money that is set aside for future needs or to leave to my children, although that's a reach.

what are you suggesting that is outside of the IRA box?

[TexasHusker]

I'm not working, I'm disabled although I hope this changes, I have no assurances that it will. So this is my biggest asset. I am afraid to mess around with it. I don't feel I need more money yet to live on, I'm ok so far being low income. So I wouldn't want that money to serve me yet, I'd prefer to make more money that is set aside for future needs or to leave to my children, although that's a reach.

what are you suggesting that is outside of the IRA box?

I'm not suggesting anything just yet because I don't know your situation fully. However, I do think at 46 you're entering a critical phase with your $500K. I was at a similar crossroads at age 46 with mine - it was worth about $400K. You've amassed a lot of money. But a bear market at this point could crush you - bear markets can last for years. And in bear markets, virtually EVERYTHING GOES DOWN, seemingly EVERY DAY. Bear markets have cancelled many retirements altogether, and folks didn't have time left in their lives to recapture what they had lost.

There is a path, albeit highly unconventional, and against conventional wisdom, to put your asset in a safer place, earning solid returns, both now and for the rest of your life. I took this path and am delighted that I did, though everyone told me I was crazy. Meanwhile, they are still working, and I'm retired at age 50.

I am curious, whatever pot of money you end up with, what are you planning on putting it in to live off of? CDs? Annuities? Bonds?

[disneysteve]

I'm not suggesting anything just yet

Can I suggest that if you two want to talk about real estate investing, that you either start a new thread or do it in private messaging. It really doesn't belong in this thread.

Thanks.

[TexasHusker]

Can I suggest that if you two want to talk about real estate investing, that you either start a new thread or do it in private messaging. It really doesn't belong in this thread.

Thanks.

I wasn't suggesting real estate investing, but your point is taken.

[disneysteve]

I wasn't suggesting real estate investing, but your point is taken.

Thanks. A new thread would be great if it's something that others might like to learn about. I'm curious myself.

[james.hendrickson]

Just wanted to take a minute to echo Disneysteve here, a new thread on real estate is a really solid idea. Saving money on real estate transactions, making money in real estate, etc. These are topics of high interest.

[DaveInPgh]

You might want to look a little harder. GiftCardGranny currently lists cards from over 1,000 places. Surely there is somewhere on that list that you go to on some regular basis. I buy cards for Target, JoAnn Fabric, and Speedway gas stations regularly. I occasionally buy an iTunes card for DD when she needs to replenish her account. Same for Starbucks (there's one on campus). If I know in advance that we'll be shopping for something particular at a place like Home Depot or Best Buy or wherever, I'll grab a card for that. I'll order a theater card if I know we're going to the movies. We're not big on chain restaurants but will occasionally pick up a card for a place I know we'll get to.

I let a deal slip through my hands last night because I didn't have my credit card with me. I figured I would grab my wallet and make the purchase the next time I got up. 7.6% off Lowes for an e-card, which is what I want since I need to make a quick purchase. Keeping my fingers crossed that I will be able to find a similar deal on there today. This time I will be ready to pull the trigger.

[DaveInPgh]

I did end up scoring a Lowes E gift card at the 7.6% discount, but still need to find another. I bought a $200 card but want at least $300. Will be keeping the site open all day in hopes another pops up.

[disneysteve]

I did end up scoring a Lowes E gift card at the 7.6% discount, but still need to find another. I bought a $200 card but want at least $300. Will be keeping the site open all day in hopes another pops up.

When we bought our refrigerator in 2015, I got $1,200 worth of Lowe's cards. I think I got them at 8% off that time which was a nice savings.