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When to Draw Social Security Retirement

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  • #16
    Originally posted by Sparko View Post
    well I could sign up to be a minister online!
    Sure, you just have to do it 5 years ago! There's a 5 year "look back".
    The first to state his case seems right until another comes and cross-examines him.

    Comment


    • #17
      Originally posted by Cow Poke View Post
      Sure, you just have to do it 5 years ago! There's a 5 year "look back".
      I think I signed up as one as a joke, long before I was even Christian. Does that count? Or am I going to hell now?

      Comment


      • #18
        Originally posted by Sparko View Post
        I think I signed up as one as a joke, long before I was even Christian. Does that count? Or am I going to hell now?
        One of my cousins signed me up back around 1980. I still have the certificate.

        I'm always still in trouble again

        "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
        "Overall I would rate the withdrawal from Afghanistan as by far the best thing Biden's done" --Starlight
        "Of course, human life begins at fertilization that’s not the argument." --Tassman

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        • #19
          Originally posted by Sparko View Post
          One thing I am doing right now to maximize my retirement is that I have my 401K mostly in growth stocks and index funds, which can be dangerous this close to retirement when they say you should be moving stocks into bluechips and bonds to maximize income and minimize risk. But if I did that I wouldn't have enough by the time I retire.

          I am thinking of switching everything to bonds and safe investments a few months before the next election, just in case all that nonsense causes the stock market to crash. Then if things pick up again, move back to growth stocks.
          So...no one can really predict the market, but keep in mind we're about 10 years in on a bull market. And historically bull markets last like 8 years (I think?). Either way, we're currently in the longest bull market in history. So I've been watching for signs of a recession soon. Dunno when it's gonna hit though.
          "If you believe, take the first step, it leads to Jesus Christ. If you don't believe, take the first step all the same, for you are bidden to take it. No one wants to know about your faith or unbelief, your orders are to perform the act of obedience on the spot. Then you will find yourself in the situation where faith becomes possible and where faith exists in the true sense of the word." - Dietrich Bonhoeffer, The Cost of Discipleship

          Comment


          • #20
            Originally posted by myth View Post
            So...no one can really predict the market, but keep in mind we're about 10 years in on a bull market. And historically bull markets last like 8 years (I think?). Either way, we're currently in the longest bull market in history. So I've been watching for signs of a recession soon. Dunno when it's gonna hit though.
            Which is why I'm willing to accept a solid "floor" on my investing, at the risk of having a "cap", or ceiling.
            The first to state his case seems right until another comes and cross-examines him.

            Comment


            • #21
              Originally posted by myth View Post
              So...no one can really predict the market, but keep in mind we're about 10 years in on a bull market. And historically bull markets last like 8 years (I think?). Either way, we're currently in the longest bull market in history. So I've been watching for signs of a recession soon. Dunno when it's gonna hit though.
              I am thinking if a Democrat gets in, what with their "promises" of Medicare for all, and cancelling student debt, the stock market will crash.

              Comment


              • #22
                Oh I forgot... My employer also put in profit sharing into my 401K each year, which is really nice.

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                • #23
                  Originally posted by Sparko View Post
                  Oh I forgot... My employer also put in profit sharing into my 401K each year, which is really nice.
                  That's YUGE --- and smart.
                  The first to state his case seems right until another comes and cross-examines him.

                  Comment


                  • #24
                    Originally posted by Cow Poke View Post
                    That's YUGE --- and smart.
                    yep. Even though I am putting in 15% and the company matches only 4%, the company's contribution to my 401K is actually higher than my contribution because of the profit sharing. We had a good year thanks to Trump.

                    Comment


                    • #25
                      Originally posted by Sparko View Post
                      yep. Even though I am putting in 15% and the company matches only 4%, the company's contribution to my 401K is actually higher than my contribution because of the profit sharing. We had a good year thanks to Trump.
                      One of my very first jobs - the one I talk about where people were trying to unionize - the owner had a very generous profit sharing plan. My first ever experience with such. He was a wise old coot, and he'd say "when you waste materials in production, you're wasting your OWN materials" and "When you work really hard to get product out the door, you're increasing your OWN benefits...."

                      When the union thugs were trying to force unionization, that was one of the points he'd make..... "Right now, I'm voluntarily sharing my wealth with you -- if you unionize, your union bosses will have to fight me tooth and nail for it".
                      The first to state his case seems right until another comes and cross-examines him.

                      Comment


                      • #26
                        Originally posted by myth View Post
                        So...no one can really predict the market, but keep in mind we're about 10 years in on a bull market. And historically bull markets last like 8 years (I think?). Either way, we're currently in the longest bull market in history. So I've been watching for signs of a recession soon. Dunno when it's gonna hit though.
                        Recession indicator blares loudest warning since 2007: How will the Fed respond?

                        For the first time since 2007, the spread between the two-month and 10-year Treasury yields — a closely watched indicator that typically precedes recessions by around 18 months when it inverts — turned negative

                        The inversion, spurred by worsening U.S.-China trade relations and signs of sluggish global growth, sent stocks plummeting on recession fears, but also raised questions about what, if anything, the Federal Reserve Opens a New Window. will do to stave off a potential recession within the next year.

                        “They can lower rates, and that’s kind of the easy thing,” said Gary Pzegeo, head of fixed income at CIBC Private Wealth Management. “The Fed doesn’t have many tools in the toolbox. That’s the biggest one.”
                        https://www.foxbusiness.com/economy/...ederal-reserve
                        Last edited by Sparko; 08-14-2019, 01:09 PM.

                        Comment


                        • #27
                          Originally posted by Sparko View Post
                          Recession indicator blares loudest warning since 2007: How will the Fed respond?

                          For the first time since 2007, the spread between the two-month and 10-year Treasury yields — a closely watched indicator that typically precedes recessions Opens a New Window. by around 18 months when it inverts — turned negative Opens a New Window. .

                          The inversion, spurred by worsening U.S.-China trade relations and signs of sluggish global growth, sent stocks plummeting on recession fears, but also raised questions about what, if anything, the Federal Reserve Opens a New Window. will do to stave off a potential recession within the next year.

                          “They can lower rates, and that’s kind of the easy thing,” said Gary Pzegeo, head of fixed income at CIBC Private Wealth Management. “The Fed doesn’t have many tools in the toolbox. That’s the biggest one.”
                          https://www.foxbusiness.com/economy/...ederal-reserve
                          Since this was triggered by a specific action that can, indeed, be mitigated or reversed, I'm not terribly worried, but still glad my entire retirement portfolio is 'locked' with a minimum floor - I can't lose anything.
                          The first to state his case seems right until another comes and cross-examines him.

                          Comment


                          • #28
                            Originally posted by Cow Poke View Post
                            Since this was triggered by a specific action that can, indeed, be mitigated or reversed, I'm not terribly worried, but still glad my entire retirement portfolio is 'locked' with a minimum floor - I can't lose anything.
                            I suck at timing such things. I just moved a lot of my stocks into an index fund in my 401k. Then this happens. - but maybe I got a "discount." Yeah that's the ticket.

                            I think I will wait a while before doing anything else. Which means the stock market will probably crash on me.

                            *eta - I actually mad $6 on the trade today! (not counting the cost of the trade though, which was $6.50)
                            Last edited by Sparko; 08-14-2019, 01:26 PM.

                            Comment


                            • #29
                              Originally posted by Sparko View Post
                              I suck at timing such things. I just moved a lot of my stocks into an index fund in my 401k. Then this happens. - but maybe I got a "discount." Yeah that's the ticket.

                              I think I will wait a while before doing anything else. Which means the stock market will probably crash on me.
                              When I left the gas compression company, I had just been given LTIP (long term incentive plan) to keep me, vested over 3 years. The week after giving me this stock, they decided they could do my job from San Antonio, so they asked me to stay on for 4 months to train my replacement, and let me go. The GOOD NEWS is that all the LTIP (company stock) vests IMMEDIATELY if I leave not on my own!

                              On my final day, having signed all the paperwork and all that LTIP officially in my name, I kept getting a really strong 'prompting' to dump the company stock. I thought, "yeah, I'll do that tomorrow, I just wanna get home". But I kept sensing this urgency to do it "today".

                              I knew of an Edward Jones location near work, so I stopped in there, and we converted ALL of my stock into my 401(k), and the very next day, the company stock plunged from $37 to $19.

                              I praise God to this very day for what could only have been the Lord protecting me from financial disaster.
                              The first to state his case seems right until another comes and cross-examines him.

                              Comment


                              • #30
                                Originally posted by Cow Poke View Post
                                When I left the gas compression company, I had just been given LTIP (long term incentive plan) to keep me, vested over 3 years. The week after giving me this stock, they decided they could do my job from San Antonio, so they asked me to stay on for 4 months to train my replacement, and let me go. The GOOD NEWS is that all the LTIP (company stock) vests IMMEDIATELY if I leave not on my own!

                                On my final day, having signed all the paperwork and all that LTIP officially in my name, I kept getting a really strong 'prompting' to dump the company stock. I thought, "yeah, I'll do that tomorrow, I just wanna get home". But I kept sensing this urgency to do it "today".

                                I knew of an Edward Jones location near work, so I stopped in there, and we converted ALL of my stock into my 401(k), and the very next day, the company stock plunged from $37 to $19.

                                I praise God to this very day for what could only have been the Lord protecting me from financial disaster.
                                Normally my plan is to just leave everything alone, because I am in it for the long haul and any ups and downs usually smooth out and end up as "up" over time. But I am kinda worried about the election and Trump screwing around with all those tariffs.

                                Comment

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