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Post by MoBuckChaser on Mar 1, 2017 15:58:55 GMT -6
Demise for what? Their money? It's there fucking money, to do what they want with! They don't spend any money. Their net worth has increased since they retired. They retired ten years ago and do nothing but drink and stare at the wall. There will be a lot of money if it doesn't go to the government. It's their money. They can drink it up or give it to the gov if they want. Not anyone's business to tell them otherwise.
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Post by MoBuckChaser on Mar 1, 2017 18:26:39 GMT -6
So ok all you retirement experts, Now that we are getting close to retiring, have money in a exploding stock market, how do you protect what we have built up all these years!
Do you sell part of it now, or all of it? Buy ETF's? Buy Puts?
Or do you take the chance, leave it go no matter what? And just draw some out when you need some retirement money!
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Post by smsmith on Mar 1, 2017 18:31:03 GMT -6
Or do you take the chance, leave it go no matter what? And just draw some out when you need some retirement money! That's my current plan. I have plenty of growing time yet, no way can I afford to not leave it be for the foreseeable future. We sit down with our CFP at least once a year and communicate via email whenever we or he want...he's done right by me since the mid 90s. I'll listen to his advice and keep my fingers crossed.
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Post by Freeborn on Mar 1, 2017 18:42:45 GMT -6
Or do you take the chance, leave it go no matter what? And just draw some out when you need some retirement money! That's my current plan. I have plenty of growing time yet, no way can I afford to not leave it be for the foreseeable future. We sit down with our CFP at least once a year and communicate via email whenever we or he want...he's done right by me since the mid 90s. I'll listen to his advice and keep my fingers crossed. I'm doing the same and I watch the markets and the economy to keep and eye on what I think will occur in the market. If you are the type that can't sleep at night then i would diversify my portfolio with some less risky investments that pay dividends. Something like consumer staple producers like Kimberly Clark, Proctor and Gamble etc.
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ace
Full Member
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Likes: 67
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Post by ace on Mar 1, 2017 18:53:51 GMT -6
We watched two parents of ours go thru family "implosions" due to lack of proper planning. Really a painful experience for my wife and I......and we largely did all the work to settle estates and such. Never took a penny or did anything that was not in our siblings best interests or that of our parents.......yet we were still hated for doing what needed to be done. We will not see our kids "set-up" in such a way (hopefully). We've done allot of work to make sure that our demise goes as smoothly as it can. Wiils, living wills, health care directives, trusts, gifting, estate planning, yadda yadda. I think we have done it all. Still.....it aint an easy process to deal with. We do considerable gifting to our kids......but also get concerned that they spend too much on "toys" and won't be able to help their kids / grandkids as we have done for them. I guess you cannot micro-manage too far into the future....and everyone needs to live life their way. We tell our kids when we gift them that their are not strings attached to our gift.....but we expect them to manage their affairs wisely. ?? The biggest gift we could give our children is to not become a burden to their lives. I would like this more than once if I could! Family stuff sucks donkey balls...
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Post by nhmountains on Mar 1, 2017 19:14:27 GMT -6
I just don't get what or why there would be any fighting over someone elses money. If the parents have money and decide to give more to one kid or the other, or to none of them, so be it! It ain't the kids fucking money! Too many greedy fucking Menedez kids around I guess! In my case I held my dying mother in-laws hand as she made me promise I'd take care of her two daughters. I told her I would and she passed. The father inlaw was not there as he'd gone home for the night thinking she'd be there in the morning. She wasn't. The estate had been in my wife's and her sisters name. The new wife demanded that it be signed back over to her and the father inlaw. She wouldn't take no for an answer even when talking to the estate planner and lawyer. So my wife's sister signed it back over but, has nothing to do with her father since then. My wife and I have been there for them whenever they need it. As I said before the step siblings have not made a trip to visit in 7 years. The step mother has treated him badly which I won't get into but, he won't admit defeat so he lives with it. My wife just wants him to be happy. The mother inlaw can be a charmer if she wants to. They are both head strong. They'll be driving 5 hours l to JFK airport on St Patrick's Day to go on a trip. Watch out if you're on the road. That's one trip I won't do for them.
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Post by Foggy on Mar 1, 2017 19:24:44 GMT -6
After I got the pay-off from selling my biz.....I worked hard to invest the money in the best way I knew how. Lots of mutual fund trading and some stocks. I was pretty good at timing markets and made some pretty good returns. I may have spent 4 hours each day looking at the tube and watching markets and making changes.......or doing nothing.
One day after a long exhausting trading day.....I had talk with a Schwab representative. I got a reference for a good planner......and after interviewing about 4 planners......decided to go with the Schwab recommendation. I deport think they have made the gains I did when I ran my own portfolio. But at the same time, they don't take the high risks I have taken to get those outsized returns. Now I am comfortable with the way they run my finances......and I am happy we don't fluctuate so much while growing slowly and having more than enough to spend.
I would look for a planner and learn from their advice. Life is easier as you get older when you can trust those folks running your financial affairs........as you just saunter off to play a little golf. FORE!
they also helped allot with tax planning, wills, trusts, and more. Invaluable advice.....in the long run.
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Post by MoBuckChaser on Mar 1, 2017 19:28:56 GMT -6
I just don't get what or why there would be any fighting over someone elses money. If the parents have money and decide to give more to one kid or the other, or to none of them, so be it! It ain't the kids fucking money! Too many greedy fucking Menedez kids around I guess! In my case I held my dying mother in-laws hand as she made me promise I'd take care of her two daughters. I told her I would and she passed. The father inlaw was not there as he'd gone home for the night thinking she'd be there in the morning. She wasn't. The estate had been in my wife's and her sisters name. The new wife demanded that it be signed back over to her and the father inlaw. She wouldn't take no for an answer even when talking to the estate planner and lawyer. So my wife's sister signed it back over but, has nothing to do with her father since then. My wife and I have been there for them whenever they need it. As I said before the step siblings have not made a trip to visit in 7 years. The step mother has treated him badly which I won't get into but, he won't admit defeat so he lives with it. My wife just wants him to be happy. The mother inlaw can be a charmer if she wants to. They are both head strong. They'll be driving 5 hours l to JFK airport on St Patrick's Day to go on a trip. Watch out if you're on the road. That's one trip I won't do for them. I am not following this thing well.... your mother in law died, and your father in law was still alive, but remarried to some battleaxe? So what? The dead wifes money and assets are his money yet. No planner or lawyer can say different. Its not your wife's or her sisters, the assets are the old mans, No matter what the mother wanted unless it was in a will to say otherwise. If your wife or her sister signed anything over that was legally in their name, that would have been stupid and a huge mistake! No matter who wants what or thought they had, Its the old mans unless the court system see's it otherwise. JMO
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Post by nhmountains on Mar 1, 2017 19:52:10 GMT -6
In my case I held my dying mother in-laws hand as she made me promise I'd take care of her two daughters. I told her I would and she passed. The father inlaw was not there as he'd gone home for the night thinking she'd be there in the morning. She wasn't. The estate had been in my wife's and her sisters name. The new wife demanded that it be signed back over to her and the father inlaw. She wouldn't take no for an answer even when talking to the estate planner and lawyer. So my wife's sister signed it back over but, has nothing to do with her father since then. My wife and I have been there for them whenever they need it. As I said before the step siblings have not made a trip to visit in 7 years. The step mother has treated him badly which I won't get into but, he won't admit defeat so he lives with it. My wife just wants him to be happy. The mother inlaw can be a charmer if she wants to. They are both head strong. They'll be driving 5 hours l to JFK airport on St Patrick's Day to go on a trip. Watch out if you're on the road. That's one trip I won't do for them. I am not following this thing well.... your mother in law died, and your father in law was still alive, but remarried to some battleaxe? So what? The dead wifes money and assets are his money yet. No planner or lawyer can say different. Its not your wife's or her sisters, the assets are the old mans, No matter what the mother wanted unless it was in a will to say otherwise. If your wife or her sister signed anything over that was legally in their name, that would have been stupid and a huge mistake! No matter who wants what or thought they had, Its the old mans unless the court system see's it otherwise. JMO Nope, Now it's his and his wife's money now.
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Post by sd51555 on Mar 1, 2017 19:54:45 GMT -6
So ok all you retirement experts, Now that we are getting close to retiring, have money in a exploding stock market, how do you protect what we have built up all these years! Do you sell part of it now, or all of it? Buy ETF's? Buy Puts? Or do you take the chance, leave it go no matter what? And just draw some out when you need some retirement money! If I could answer that, I'd never have to wear pants again. Customers ask me what's going to happen with fuel prices. I share what news I have from the market team, offer some ideas and feedback to consider, and then let the customer decide. If you don't take any money off the table, you're going all-in that the market will stay up or continue to go up. If you sell out completely, you're going all-in that the market will fall. That's why despite being a stock picker, I know I'm not a wizard. I buy companies, not stocks. I spread it out enough so that if I take one in the seeds, it won't kill me. I also miss out on some giant gains by tip toeing (Priceline/Amazon/Apple), but I can live with pretty-darn-good performance just as well. I mailed the paperwork Friday to fire my financial adviser. Love the guy to death, but he went out on his own and picked a bad company to sponsor his trading platform. I was getting killed in fees, doing all the work myself, and with 1998 quality trading tools. I'm moving it all to TD Ameritrade and I'm turning the fee machine OFF. Should save me almost $1700 the first year in fees alone. Then the boys at Motley Fool are getting fired once I know all the basis data transferred properly.
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Post by sd51555 on Mar 1, 2017 19:57:37 GMT -6
I am not following this thing well.... your mother in law died, and your father in law was still alive, but remarried to some battleaxe? So what? The dead wifes money and assets are his money yet. No planner or lawyer can say different. Its not your wife's or her sisters, the assets are the old mans, No matter what the mother wanted unless it was in a will to say otherwise. If your wife or her sister signed anything over that was legally in their name, that would have been stupid and a huge mistake! No matter who wants what or thought they had, Its the old mans unless the court system see's it otherwise. JMO Nope, Now it's his and his wife's money now. Too many guys can't help but offer themselves up as a doormat to some broad; hoping he's got the code breaker that will enable him to get healthy amounts of sex and cuddling after marriage. It breaks my heart to see the situations some have gotten themselves into.
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Post by nhmountains on Mar 1, 2017 19:59:52 GMT -6
Nope, Now it's his and his wife's money now. Too many guys can't help but offer themselves up as a doormat to some broad; hoping he's got the code breaker that will enable him to get healthy amounts of sex and cuddling after marriage. It breaks my heart to see the situations some have gotten themselves into. He's 88 so I'm not so sure how much he's getting.
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Post by Foggy on Mar 1, 2017 20:01:54 GMT -6
I can attest to the fact that old guys like a little hanky pinky too! Good on him.
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Post by MoBuckChaser on Mar 1, 2017 20:07:39 GMT -6
I am not following this thing well.... your mother in law died, and your father in law was still alive, but remarried to some battleaxe? So what? The dead wifes money and assets are his money yet. No planner or lawyer can say different. Its not your wife's or her sisters, the assets are the old mans, No matter what the mother wanted unless it was in a will to say otherwise. If your wife or her sister signed anything over that was legally in their name, that would have been stupid and a huge mistake! No matter who wants what or thought they had, Its the old mans unless the court system see's it otherwise. JMO Nope, Now it's his and his wife's money now. You mean its always been his money and his first wifes money?, she died, and now since he married a new wife, you guys are mad its now his and his new wifes money to spend? Its his money, he can give it all to a hooker if he wants. He just chose to spend it on an old bitch instead! My choice would have been a a bunch of young hookers! Its never the kids money unless both parents die without remarrying. I don't know what the beef is....
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Post by MoBuckChaser on Mar 1, 2017 20:13:08 GMT -6
Nope, Now it's his and his wife's money now. Too many guys can't help but offer themselves up as a doormat to some broad; hoping he's got the code breaker that will enable him to get healthy amounts of sex and cuddling after marriage. It breaks my heart to see the situations some have gotten themselves into. Whether the old guy is happy now or not, is besides the point. The old Battle axe must have made him happy at some point to marry her. Some guys love being a door mat! His life to ruin!
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