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Thread: Retirement...and dates...
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02-20-2021, 02:42 PM #31
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02-20-2021, 09:48 PM #32
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03-01-2021, 10:36 AM #33
Re: Retirement...and dates...
I was just daydreaming about retiring some day and it occurred to me that some may not be aware that social security does have a maximum benefit. It won't matter to the vast majority but I just looked it up and right now it's $3,895 per month for someone that's going to start withdrawing this year at age 70. It goes up a little every year because it's tied into national wage averages.
changing my signature to change our luck.
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03-03-2021, 09:16 AM #34
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Re: Retirement...and dates...
Mick, going back to your model.
I am assuming you are selling stock to get to the Minimum Distribution amount you want to have in cash. Are you trying to balance LT Gains and Losses to eliminate tax burden or are you taking your dividends and interest each year and not reinvesting and taking them to cash?
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03-04-2021, 07:22 PM #35
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Re: Retirement...and dates...
Old truckers never retire. We just get a new Peter built!
I’ll probably not retire at least not until I’m no longer capable of doing the job.
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03-05-2021, 12:29 AM #36
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Re: Retirement...and dates...
There are no capital gains and losses in the IRA world. Everything distributed is taxed as Ordinary Income. I keep at least one year of RMD in Cash or very stable investments. That keeps me from having a forced sale in a down market to meet the RMD requirement. Much of the cash comes from current year distributions from ETfs and mutual funds (dividends, gains, returns of principle). But I always keep one year's RMD amount liquid. I don't want to be forced to time the market.
For my regular brokerage account, I sweep in the dividends and gains that are declared. I avoid selling securities for the most part, but when I do I try to match up the winners and losers to minimize the taxes. Fortunately or unfortunately, I've held most of the securities so long most all have gains. I tend to sell anything that languishes and fails to keep pace with the rest of the market. I am very partial to dividend stocks and preferred stocks. They are a great alternative to bonds. I'll keep an underperforming stock if if the dividend yield is 4% or better. That's been the case with tobacco stocks and utilities recently. Some of the electrics appear to be excellent buys right now if you are focused on yield and moderate growth.Last edited by MickintheHam; 03-05-2021 at 12:32 AM.
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03-05-2021, 08:01 AM #37
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Re: Retirement...and dates...
Thanks, I thought as much. Sounds like we are similar investors. I loaded up on some ATT and while it is not seeing much on the stock prices side (pretty stable) the over 6% Yield is nice to have. just picked up some Abbvie that is under 4% yield has a long history of raising dividends and a solid product pipeline.
Thanks Mick.
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03-05-2021, 08:27 AM #38
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Re: Retirement...and dates...
My old boss did this. Worked out pretty well for him. He may have started before 70 but he waited as long as he thought he could after his "max age". He was still working and making a very good salary so he was able to wait. So now he is drawing close to his max. Plus retirement savings and his wife has a teacher's pension. So they are doing pretty well.
Sadly they have not enjoyed it in the way they planned. They lost their son and daughter-in-law within 6 months. So they are now raising teenage boys again. But at least they were prepared to be able to do so.
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03-05-2021, 08:43 AM #39
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Re: Retirement...and dates...
Abbvie is a good one. There is an ETF out there that guaranteed a 7% yield. I’m tracking that one now and plan to buy in the next couple of days. My only reason for posting is there are a bunch of people in Money markets and low yield “safe” investments. Over time they will fall behind. If gas goes to $3 or electric and sewer rates go up 10%, a lot of safe investors will start to hurt.
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03-05-2021, 09:58 AM #40
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03-05-2021, 10:23 AM #41
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Re: Retirement...and dates...
It’s yield is 6.94%
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