Retirement plans
HamiltonGardener
3 years ago
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jim_1 (Zone 5B)
3 years agoElmer J Fudd
3 years agolast modified: 3 years agoRelated Discussions
Retirement Planning
Comments (2)By golly, that's what I should have called myself ... ... "retirement guru" ... ... doesn't that have a nice ring to it? If fact ... if I were to charge enough for my services ... ... maybe I could afford a ring for my sweetie. ... Oh, I forgot - she died. So ... I wouldn't need to charge much for my services. As a matter of fact ... I haven't - and don't. And I don't sell any financial products to make money on commissions, either. Just too cheap for any good use, I guess! ole joyful...See MoreRetirement Planning Calculators
Comments (7)Hi again Jimbg, I imagine that you've had some interesting thoughts regarding your retirement nest egg during the last half year or so. I hope that you have not been so smitten with fear of the stock market that you've decided to stay out of it. There are losses suffered from time to time, which can be substantial ... but over the long term, carefully chosen stocks, ETFs, etc. have produced well for their owners. As have mutual funds ... but, despite their substaial claims to superior performance, about 85% of mutual fund managers are unable to produce a higher rate of return than their chosen portion of the market. As you encourage your friends to start a retirement plan, you can follow a savings plan that's specifically geared to setting up a payout system during one's retirement, but many choose to carry investment accounts that are not geared toward retirement, as well. If one chooses to build a regular investment program, with a view to having it available to fund one's retirement, though unwilling to be tied up with the restrictions that govern retirement accounts, there's an extra benefit that can be used during one's lifetime. When I own a number of stocks or mutual funds, I can have the certificates issued to use as collateral when I make loans, often allowing me to pay a much lower rate of interest that if I must use other kinds of collateral. For example, if I want to buy a car and use the car as collateral, if the lender wants to repossess it in case of my delinquency, there's a hassle to collect it, then advertise it for sle, or go through a brokerage, which charges fees, etc. and they must wait for their money ... plus, if I didn't take good care of the car, they may not be able to collect all of the amount owing, plus costs. So they usually charge high interest rates on such loans. If, however, one has some stocks or mutual fund certiicates to use as collateral and isn't able to pay, it's fast and easy to liquidate the stock or mutual fund collateral, so the borrower almost always enjoys a much lower rate of interest on the loan. Should one have an emergency, it is a great help to one's financial and emotional well-being if one has some assets on hand to either liquidate or, perhaps more frequently, use as collateral to make a loan to cover the need, and the interest rate will be advantageous. Such a cushion helps a great deal in case one suffers long-term layoff, as many have experienced in the past few years. When one uses money that one had planned for retiremen for either an emergency, or to fund one's living during long-term layoff, one should make a strong effort to replace the money withdrawn, plus allowance for inflation, when one's financial stability is restored. Good wishes as you proceed with your plans ... and encourage others to do the same. On the day that you began work, you had brains and hands at work ... but no money. On the day that you retire, you have brains and money at work ... and no hands. If you've set aside a substantial amount regularly over the years, and learned how to manage it for a reasonable rate of return, plus some tax savings, you may well have developed enough assets in order to provide you with sufficient money to retire early. Good wishes for increasing skill in managing your income and assets. ole joyful...See Moreretired house plan
Comments (7)Are you sure it's a "Frank Betz" plan? There are plans by others with the name "Westport" - e.g., Don Gardner has one (DG Westport). I'd post the exterior here and see if others recognize it - in case it's not a "Frank Betz" plan. (If your house # is on it, blur it out b/f posting the image.)...See MoreRetirement Plan
Comments (3)This works too. https://www.facebook.com/100001171472569/posts/1903462613036103/...See MoreElmer J Fudd
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