Your retirement income

HamiltonGardener

I’m wondering how everyone is doing in terms of their retirement funds right now.


I realize a number of people have fixed pensions through work or government, but a number are also drawing down on their retirement savings. with markets, interest rates, investments doing so poorly, are any of you worried about eating through your retirement funds faster than you planned?


It’s been a rough year so far, even before the pandemic. The world economy was taking a battering.


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Comments (16)
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Stan Areted

Nope.

Just received a call yesterday, all is good, not significantly changed.

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HU-5213567

HG - we are both semi retired now. because we played the Dow and NASDAQ a bit, we are up ~ 10% since January 2020. last week we sold a lot. we plan to sit the rest of 2020 out.

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elvis

I'm neither greedy nor a gambler. My nest egg is happily humming along at a fixed rate. It's a tad late to be doing anything risky. Remember the tortoise and the hare? I'm the tortoise.

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maifleur03

I am lucky that I received the full amount of my husband's pension or I would probably be hurting. I watched both of the retirement investment accounts/401s loose over a third of their value. The normal rules state that a percentage of the value on December 31 of each year must be withdrawn. Congress passed a rule to wave that requirement for this year. When the downturn started I was able to suspend the withdrawals so I only took one in January from one of the accounts. I live modestly so for this year it has made little difference so far. However since I am expecting a further down turn later this year I am saving more than I normally do just in case.

What does worry me is my expectation as the financial sector drops the pensions and Social Security amounts will be reduced. My husband retired in 2003 with a buyout. In the downturn in 2008 there was a lawsuit to lower the amount of his pension. The lawsuit ended in a compromise where future employees received reduced pensions but the previously retired people kept what they were promised. With the current courts I expect that a reduction would be made. It would not be the first time in the history of pensions that reductions have happened.

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heri_cles


The nursing homes really put the red carpet out for those with substantial nest eggs. Anyway, those Golden years aren't all they're cracked up to be and Covd-19 is now out there to end it summarily.

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maifleur03

It is not the nursing home as such but senior living including independent, assisted, and nursing homes. While it may not be the same every where. here at least after you pay for the extras in assisted living nursing homes are cheaper.

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Lars(Z11a, Sunset 24)

I invested my retirement funds in real estate, so that I could get income from rentals, but that has not been possible at this time. We are now living mostly in the house we bought for rental, since my brother is now working from home, and he can work from Palm Springs as easily as from Los Angeles. At some point, we will sell both houses and buy a bigger house in Palm Springs, but not sure when that will happen.

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paprikash

We’re fine. Looking forward to Trump growing our economy yet again—he did it once; he’ll do it again.

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soupgirl53

I differ from paprikash in that I do not think it matters who the president is if you are a level-term investor with a well-diversified portfolio balanced to fit your risk tolerance and circumstances. The fixed portion of my retirement income, pension and social security, are unaffected. The equity portion of my retirement income was down 4% last time I checked it.

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Nana H

We are lucky enough to both have good pensions so our income has not been affected. If anything we are saving money. DH re balanced our retiement investments last Fall shifting some of our equities to bonds so we have not felt much of an impact at all. Not growing but not losing.

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Kathsgrdn

My retirement account lost a lot at the beginning of the pandemic but is recovering.

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bragu_DSM 5

one of my two is gone [former employer/company stock only]. The other is down slightly.

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tvq1

Yes, it's a worry for us. My husband retired at 50--24 years ago. We have certainly been grateful for his union pension. The past few years it's been in the "yellow" zone, but with enough cash on hand to remain stable. If it goes belly up our lifestyle will change significantly, but we'd survive. Thankfully, we have always been savers!

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jmm1837

My defined benefit pension is fixed so I'm okay on that front. My superannuation fund is down slightly but it's very early days to make any kind of a judgement on where investments are going longer term. I think we're going to be in for a rough ride over the next year or so.

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Ziemia(6a)

Doing fine. Saw the bubble growing in the stock market so started selling over 6 months ago. Had cash to buy in March and April. I learned a lot from the 2007-2009 market.

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artemis_ma

Retirement income. I haven't looked. I'm sure I'm fine on the short term, and I see no reason to look as to what's happening as I can't do a thing to fix it. I don't need to stress over something I can do nothing about - so, I don't know what it is up to, although I think a proper word would be, what is it DOWN to?


I will say I've had the same financial planner for a couple of decades, and he was also my Dad's, so I'm reasonably confident. There will be losses, but that's nationwide anyway. I'm going to carry on and live, with eyes open of course.

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