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Thread: When to Draw Social Security Retirement

  1. #11
    Troll Magnet Sparko's Avatar
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    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.

  2. #12
    See, the Thing is... Cow Poke's Avatar
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    Quote 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.
    At my age, I had everything moved to a "guaranteed minimum" rate. The benefit, of course, is that I never make less than 4% on money -- the downside is my earnings are capped at 10%. I can certainly live with that, as - even if the stock market were to crash, I'm still going to get the minimum 4%. In addition, all of the money I put in gets "credited" at 110%.
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

  3. #13
    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by Cow Poke View Post
    At my age, I had everything moved to a "guaranteed minimum" rate. The benefit, of course, is that I never make less than 4% on money -- the downside is my earnings are capped at 10%. I can certainly live with that, as - even if the stock market were to crash, I'm still going to get the minimum 4%. In addition, all of the money I put in gets "credited" at 110%.
    What fund/bond is it?

  4. #14
    See, the Thing is... Cow Poke's Avatar
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    Quote Originally Posted by Sparko View Post
    What fund/bond is it?
    It's a special deal for ministers - a 403(b) through National Life.
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

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    Troll Magnet Sparko's Avatar
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    Quote Originally Posted by Cow Poke View Post
    It's a special deal for ministers - a 403(b) through National Life.
    well I could sign up to be a minister online!

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    See, the Thing is... Cow Poke's Avatar
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    Quote 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".
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

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    Troll Magnet Sparko's Avatar
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    Quote 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?

  8. #18
    Evolution is God's ID rogue06's Avatar
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    Quote 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)
    "Of course, human life begins at fertilization that’s not the argument." --Tassman

  9. #19
    tWebber
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    Quote 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.
    "We see unmistakably the sort of universe in which we have all along been living, and must come to terms with it. If we had foolish un-Christian hopes about human culture, they are now shattered. If we thought we were building up a heaven on earth, if we looked for something that would turn the present world from a place of pilgrimage into a permanent city satisfying the soul of man, we are disillusioned, and not a moment too soon." - C.S. Lewis, The Weight of Glory

  10. #20
    See, the Thing is... Cow Poke's Avatar
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    Quote 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.
    "Neighbor, how long has it been since you’ve had a big, thick, steaming bowl of Wolf Brand Chili?”

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