Posted on 11/28/2015 6:15:46 AM PST by SeekAndFind
Are you taking advantage of dividends? I have recently bought a number of stocks that pay decent dividends, so even if the stocks go down, we will still be receiving some income periodically. So far, so good.
During my 401K years I determined what I was invested in, whether it be the stock or bond market or mixture. I did poorly, or at least not what I expected I should.
Upon retirement I rolled it all over into an Edward Jones mutual fund. I have a financial adviser that now makes all those decisions for me. I do not regret this at all. I have a very diversified mix, where yes, some do give dividends.
Every January I figure how much I need for the whole year, call the adviser, and a week later it’s in the checking acct. She determines which mutual fund to withdraw from.
I don’t even bother to look at the various monthly prospectus statements issued by each fund. They head straight for the fireplace. All I look at is the online account a couple times a week to see how the IRA as a whole is doing.
Just one less worry when someone I can trust is handling the retirement acct.
govt worker ???....nice pension?...health bennies?....
..this thread is for those with lots of dough to come on and brag how much smarter, wiser, better, better looking and just better than all the other slobs....
Yes, I've never understood the fascination some people have with retirement. Do they hate their jobs so much? For me, I love going to work and retirement has never crossed my mind, even though I'm in my early 50s now and have over a million dollars in 401(k) and IRAs. Giving up the power and prestige I have at work in order to sit around at home and listen to the wife nag at me all day has no appeal to me whatsoever.
Once no longer physically/mentally able to do their work, the end probably isn't very far away anyway. They don't need to save for 35 years of comfort when they don't have much more than 5 years left.
Very good point. A person who is healthy in mind and spirit is "richer" than a man who has millions but forgot how to tie his own shoes. So long as you have your health, you probably shouldn't retire. I had an uncle who had a simple job but loved doing it. He was always so happy and upbeat. His wife badgered him to retire so he could spend more time at home. He was 72 when he retired and he was dead by 75. It was sad to see his rapid decline after he left the workforce.
My marginal tax rate is well over 50% while I am very greatful to God I have also worked very hard for the income I have I greatly resent paying 6 figures per year in fed taxes alone for others to freeload and worse The government takes money from me to pay for reprehensible things like abortions, all while I am told I don’t pay my fare share. I guess they want all my income not just 1/2 of it. Makes me want to puke when I am up at 2 am taking care of someone on Medicaid who has a nicer computer than mine and who is sitting in the hospital bed I am paying for complaining about the quality of the service..... Sorry for the rant it’s a sore spot for me
Market proved me right.
One stock I purchased 4,000 shares at $2.50 on open, rode it up to $43.50 and sold it. It peaked just over $47 and crashed and burned all the way down to 38 cents a share a few short months after peaking at $47/share. Company no longer exists.
Made a good chunk of change on PeopleSoft, CheckPoint One and a few other technology companies back then too, but again, they were companies that I was very familiar with, knew what they did, knew who their market was, and given we were going into Y2K and companies were spending ridiculous amounts of money out of fear, it was pretty easy to make money off of stocks back then as long as one wasn't too greedy about it.
Great post, thanks for sharing.
I understand; keep the faith, keep working for the riches which do not tarnish, and which no man (or government) can take from you.
Perhaps the only time I've agreed with the current POTUS, is when he said something to the effect that $3 million should be a sufficient limit in a person's retirement account. I had read that $1 million per person should be sufficient and think how few people have this much retirement principal, and no vision for how to legally and realistically obtain it after a certain age and their earnings and savings histories.
Nice...
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