How's your 401K/nest egg?

[Bob Denman]

Originally Posted by The_Breeze

Oh S%^t Honey, whata we do now!!!!!

.
Sometimes you just have to face the music....


...And DANCE!!

[The_Breeze]

Originally Posted by Solanopete

Keep in mind that the Fed has pumped massive support into the economy to help deal with C-19 related shutdowns. It's hard to know how much stock market recovery is floating on the Fed's life boat and what will happen to markets when the Fed decides to withdraw that support and shift its attention back to inflation fighting.

You make a good point. I asked myself what the economy was doing before this hit. My answer is quite well. If the Feds played their cards right, they shored things up without creating a bubble. If I'm wrong, I expect to lose money. I think they stabilized the economy. Inflation is 'relatively' flat and it will take some time for things to play out to know which direction things are headed. The only thing you can do know is keep your eyes peeled and do your research, whatever that entails.

[Bob Denman]

I'm just going to invest in the "Holy Trinity":
Food
Shelter
Clothing

[Solanopete]

There are two different forces at work supporting the stock market. The Federal Reserve System lowered interest rates and engaged in heavy buying of equity securities to help support the market. That's the support I referred to in my prior post.

The US Gov't has provided big money to employers to keep folks on the payroll. That has helped prevent greater unemployment claims but only for a short time. There is no bill in play to extend that program. Today's good news reports could turn quickly if support by the Federal Reserve System (The Fed) and support from the federal government (House, Senate, POTUS) pull back.

[CaptnJohn]

Originally Posted by The_Breeze

There's nothing wrong with gifting it while you're alive. I believe the max is 10k/yr where the recipient doesn't have to pay tax. Triple check me on that and ask your advisor if you have one but that's my plan. Whatever I don't use goes to my daughter. She'll have to pay taxes on interest, dividends, etc but aside from that it's free money. Just sayin'...

Send at year end, preferably in the following year so tax doesn't accrue on the their new balance over the course of the current year. This way it grows throughout the year and tax isn't due until April 15 of the following year.

Sorry, forgot the disclaimer: This is not investment advice

Update: I stand corrected. Max is 15k. You can consult other sources as well. This is one example: "The IRS allows every taxpayer is gift up to $15,000 to an individual recipient in one year. There is no limit to the number of recipients you can give a gift to. There is also a lifetime exemption of $11.58 million" (re: https://smartasset.com/retirement/gi...1.58%20million).

What I recall from our accountant you are correct, she takers care of that and I want to know only what I need to. Attorney took care of the family trust which is some help too. Both daughters are self employed and we fund their IRAs from our income. There will be enough when we are gone and I'd rather give it to them and grandsons while still kicking. Grandsons graduate next year and 429 accounts their step-father funded should cover, if not we send cash check or gold.

[The_Breeze]

Originally Posted by Solanopete

There are two different forces at work supporting the stock market. The Federal Reserve System lowered interest rates and engaged in heavy buying of equity securities to help support the market. That's the support I referred to in my prior post.

The US Gov't has provided big money to employers to keep folks on the payroll. That has helped prevent greater unemployment claims but only for a short time. There is no bill in play to extend that program. Today's good news reports could turn quickly if support by the Federal Reserve System (The Fed) and support from the federal government (House, Senate, POTUS) pull back.

That's a way of looking at it and the markets have already taken that into account. I'm more on the side of 'look what's happening', and it's served me well.

Individual investors may struggle to follow and understand the forces at work. Institutional investors build that into assumptions and projections. I trust the market, so far, and try not to let my personal experiences cloud my judgment. Buy on the hype, sell on the news. It's my win or loss. We'll see?

[Judge]

My father got me in the stock market when I got out of college. He said he would give me money for a car when I graduated or invest it.... my choice. I didn't have the money in my hands so I said invest it if you think that is best.

Then for the next few years he told me to think about the future and retirement and that I should save and invest then even though I was only in my early 20's. At first I didn't want to hear it but then it started to sink in.

This advise came from a man who worked for a company that had no pension... 401k's didn't exist yet.... had a wife who stayed home and raised two kids.... and he managed to retire at 59.

I tried to tell people in March it was a great buying opportunity for quality stocks and funds... maybe a once in a lifetime buying opportunity.

Fortunately, I took some profits last year as I was deciding to beat my dad to early retirement by the time I hit 57 early next year. I put a chunk of that money back into the market as it was going down in March and early April. Even though I didn't buy right at the bottom I bought low enough.

After yesterday my portfolio is above where it was in February before the CV mayhem started.

[Bob Denman]

So how does it feel to be winninging the rat race?

[Judge]

I'll say this Bob...... I'm glad I can see the finish line!

The way things have been going with COVID and the Riots..... I don't think I would want to be in my 20's again and starting over.

My dad unexpectedly passed away 4 years ago at 77. He didn't make 20 years of retirement but he enjoyed and lived a good life with the time he had.

After 35 years of hard work, I would like to get 20 - 25 years of a good.... and healthy retirement.... but as you well know.... it is a crap shoot and you can't control everything along the way.

That's why I want to get started sooner rather than later.... if we run out of money having fun, then so be it!

[Bob Denman]

Congratulations!
(I'm 3 years out from retiring... )

[Judge]

I hope you get there soon Bob.... you deserve it. I'm sure you guys can't wait to get on the road more.

[Bob Denman]

Thanks! After 42 years of this whole "job thing": it's starting to grow tiresome...

[CaptnJohn]

My dad died 2 years before his planned retirement date. He died on the job he hated. I retired at 54 that was over 17 years ago. We never know when we will go.

[The_Breeze]

Originally Posted by Bob Denman

Thanks! After 42 years of this whole "job thing": it's starting to grow tiresome...

Starting? Surely you jest.

[Bob Denman]

Truthfully; I've enjoyed my work. Helping folks out when things go sideways can be very satisfying.
It's just that with Kathy's ongoing health struggles: I'd rather turn my focus toward her now.

[Judge]

Originally Posted by CaptnJohn

My dad died 2 years before his planned retirement date. He died on the job he hated. I retired at 54 that was over 17 years ago. We never know when we will go.

That is a real shame...... I was always worried that would happen with my dad but I was lucky he got at least 17 or 18 years of retirement.

That is always the concern.... you just never know. That's why I am ready to hang it up now. My wife also has some health issues and she wants us to get into retirement now while we are still both relatively healthy.

I almost thought about retiring this year but COVID was actually a good thing for my situation. I work from home and travel for my job. I've worked from home 24 out of the last 30 years and traveled a lot. Since travel was suspended it meant we could start traveling more in the MH this year since I could just work from it. Having the Winegard ConnecT 2.0 was great to provide Internet access when I needed it.

We took the Spyder with us so we could sightsee but we were still able to stay isolated in campgrounds. We spent time in North Carolina, South Carolina, Virginia and Georgia over the course of about 5 or 6 weeks from late March through May. It was a good dry run for retirement.

Even though I can start traveling for work again there really isn't much activity requiring me to travel. I'm typically on over 100 flights a year. I had been on 33 planes between January 1 and March 11. Given where thing are I don't know that I will be on 10 more this year. That means we can do more traveling this year while I work from the MH and I get get paid w/ benefits.

So I look at this year as a semi-retirement phase and then sometime between December 31 and March 31, I will make it permanent.

[Bob Denman]

Judge,
By the way: Which year and model Spyder are you riding?

[Judge]

Originally Posted by Bob Denman

Judge,
By the way: Which year and model Spyder are you riding?

We have 2016 RT Special Series in PA. Then after have it for two years I ended up buying a left-over 2017 F3 Limited to keep at our place in Florida.... so I didn’t have to haul the RY back and forth.

I’ve got almost 16,000 miles on the RT but only about 1500 on the F3.

We’ve already put almost 3000 miles on the RT this year since we started camping earlier than usual as a result of COVID.

[Bob Denman]

Beautiful bikes!
The F-3 seating position never worked for me: no matter how I moved around the foot controls. That's why I stayed with the RTs...
Have you checked out Spyderlovers.com?
Great forum for the Spyder community.

[The_Breeze]

Originally Posted by Bob Denman

Truthfully; I've enjoyed my work. Helping folks out when things go sideways can be very satisfying.
It's just that with Kathy's ongoing health struggles: I'd rather turn my focus toward her now.

You got that right. I hear you loud and clear.