Good morning!!!!

[sodamo]

Wetter than I like, but I took half and hour and finished up my mowing for this round.
Maybe tomorrow I’ll be back on my project, wx dependent.

 

[buckeyefarmer]

Got all my VHS DVDs converted. Had 2 more than I thought.
Most of my VHSC DVDs have already been done as mpeg, not sure if I will redo as mp4.

Temps dropped from 50 to 40 already, more freezing rain coming tomorrow.

Had crab cakes for supper, they were good.

 

[sodamo]

Thanks for sharing your experiences, David. We have a lot in common.

When I retired, I sold a paid off a home in the SF Bay Area and downsized, so I still don't have a mortgage. When I did have a mortgage, I always itemized, but once the mortgage was paid off, the standard deduction was usually a better deal. It for sure is now, after tax reform. My living expenses are covered by a pension, even though the amount of it was about 66% of what it might have been had I worked there until age 65. That has turned out to be one of the best decisions I've ever made, for so many reasons. I put money left over from the home sale/downsizing to work fixing the new place, any left overs went into an S&P 500 index ETF, and a handful of individual stocks. I still haven't started Social Security, and after looking at some break even calculations, think I'll hold out for the Full Amount, since I really don't need the money to pay expenses. That will bump my federal tax rate from 22% to 24%, but it'll also boost monthly income by 66%. I haven't looked into Medicare premiums yet, but am guessing that the SSI payment will more than cover it, and I can roll whatever's left over into a Roth IRA. In good years like this one I've been cashing out gains in the stock market for major purchases like tractors and solar power systems. I also saved a bunch of money this year by not traveling much, I guess a small silver lining to the CoVid mess.

Going forward I'm worried about inflation, what with all the government spending and debit increase. That means CDs and other cash investments will struggle to keep up, and I don't have a strategy there for an alternative. REITs were once popular, so that might be an option. I've lost a lot of money on defaulted corporate bonds, and returns aren't great now anyway. Coupons on new bonds will go up as inflation takes hold, but I'm not sure the coupons will keep up if inflation gets bad enough. One things for certain, though. People have figured out how to game most all of the major investment groups and the days of being able to put money somewhere and just forget about it are gone. I sure miss those days...

I'm also worried about Medicare and affordable MediGap insurance. It's almost certain my medical costs will start increasing as my body ages, and good insurance brings with it a lot of peace of mind. That's probably the next aspect of my financials I'll tackle, after jumping through the hoops set up by the PG&E Fire Victim's Trust to complete the claim process.

RNG good stuff. Probably at least a couple here reading with some interest.

One often overlooked factor in the SS question is potential loss. The SSA well publicizes the fact that your monthly amount will grow if left untouched. What not so good at is telling people that once eligible and you defer until a later age and die is you get nothing, ie is you count 62 as eligible and wait until 70, but die day before 70, that is 8x12, 96 payments lost, but retained by SSA. They aren’t part of estate either. I considered that as well.

While my Military retirement is not particularly great I am most fortunate for the medical coverage portion. I do have to pay extra for Dental and Vision, but combined with Medicare we are pretty good. Even with Sophie being classified 100% disability and me overweight with asthma diagnosis we are actually in good health, better than most people we know our age. Our only routine drug is a daily aspirin.

Financing the building our house was a combination of things, a land mortgage, a smallish equity loan and withdrawals from investments. A couple years ago we paid off the ELOC, but the maturity date is 12/2025. Interest only payments, interest currently 2.89%. So last year I was quite reluctant to pay for our solar upgrade via investment withdrawal. I chose to tap the ELOC again as I had for the tractor. It cost me less than $1050 in interest. That same amount not taken from investment account earned over $5500 as of 12/31/2020. So an extra $4400 to my benefit. Whereas I made it a priority to payoff the ELOC, I know me being me, I wouldn’t have replaced the investment withdrawal in same timeframe, so I would have lost a good portion of that $4400 plus.

Inflation and potential tax increases definitely a concern. Property taxes my largest expense next to food and I could eat a whole lot less, but our mayor thinks we are ripe for picking. When I think about how prices go up, that is a cause of concern when I look about at older folks on fixed (broken) income. I think it affects each newly aged generation, but gets largely ignored. This time of year in particular, my SS increase would barely pay for a meal at McD let alone a real restaurant.

 

[sodamo]

Is that sunrise or sunset, Dennis? Gorgeous regardless.
Love crabcakes, especially good ones.

 

[LS Tractor Owner]

Thanks for all the thoughts about the son's and DIL's dog. They had a really hard time today, trying to get used to him not being there by their side. The son dropped a cracker and started to call the dog.... they both started crying again....

Time will heal, but but it stings hard right now. We have lost quite a few dogs and they all hurt when they are gone... truly a part of the family... sometimes I think closer than family... more like a part of us.

I really agree that his way of going was the best.... happy and doing his normal 'routine' when he went....

Our little Kassie is now 14 and slowing down a lot. I have been trying to prepare myself for that dreadful day..... I am not doing a very good job.....

 

[buckeyefarmer]

Is that sunrise or sunset, Dennis? Gorgeous regardless.
Love crabcakes, especially good ones.

Sunset tonight.

I had house paid off several years ago, which allowed me to pay for kids college instead of them taking loans. Which pizzes me off about all this “pay my studentloan” talk after working my azz off, and not taking vacations. I paid off a HELOC this year, and I have enough saved now to pay for my sons last year of college. My only loan is a car loan and my ZT, that I could pay off, but didn’t due to 0% interest.
For me to retire, it’s a matter of do I have enough in 401k combined with 2 pensions. I plan to take ss at 62 if I can work out the health care.

 

[mostly_gas]

Good evening all. 35F for the start, overcast, light wind. Light wind day, overcast cleared off early afternoon, and high temp was 54F. Bike ride start delayed to let temp warm up first ride of 2021 on Peugeot 40 miles nice weather. Went to stepdaughter's for dinner, spaghetti and pecan pie :licking:
Covid update: Cooke, Montague unchanged, Grayson 6767 confirmed cases, 420 active cases, local no update.
Resuming post 12:30 PM
RS either activity sounds delicious
Ted I am sure your wind blew your moisture to u Got 2 1/4 inch Thursday sorry to hear about the dog
David sorry the fireworks upset Kekoa so bad.
David Texas 1b starts at 65.
RNG 6% nice return.
Roy inside decorations down, outside lights off, coming down soon. Sad but true on dogs vs human family members
David looks delicious :licking:
David maybe go together?
Paul looks as good a David's roast. :licking:
Dennis ribs look good
Don the on source in Cook county says they will post when more vaccine available.
Kyle glad you managed to stay up for midnight.
Roy enjoy your snow.
DF sorry to hear about buck.
RS very nice nap, my best is only just over 2 hours. Dumplings and kraut sound and look good. Leftovers will make excellent eating! :licking:
Ron enjoy conserving energy, neat hawk pic could use one now.
Today's posts:
Eric hope you stayed warm in the snow.
Drew sorry to hear about neck, hope it does not interfere with making a birdhouse
Billy I sort through the ashes for the left over coals in the morning , then pull out the ash. Glad you enjoyed nature while walking, I am surprised as well that the deer were not spooked.
RS sheet cake looks good :licking:
Paul I would never look the wife in the trunk, however while dog sitting, there were days Scooter was close
Roy I enjoy watching the snow while sitting next to a fire
Drew good luck painting the sculpture
Rich the feeling full faster only lasted about a month after colon surgery.
RNG hope you keep getting rain. You are probably better of dry cutting with carbide, flood coolant works best inside an enclosure. good luck clearing off welding table
David have fun with your financials.
Dennis good to hear ice is gone and making good progress on converting dvds
Drew sculpture looking good, nice work on birdhouse. Hope generator works
David makes a lot of sense investing in what will help you take care your place. I agrees with your horseradish usage
Dennis, glad you are done with conversions, nice sunset pic
Ted always hard to get ready for the loss
prayers for all especially Jay/Peg, Kyle's daughter, David(moss)/remodel/divorce, RNG/fire, Ron/hearing/son/furnace, Jim/sister & family, Phil/wife's eyes, Randy/health, and Country.
stay safe and health you all.

 

[Looking4new]

Noticed days seem to be getting longer slowly but surely ... :thumbsup:

The days come with more than 24 hours?

 

[ronjhall]

Coffee is done brewing. 32° with light snow this morning. Heading to 35° with snow ending around sun up. Milk run yesterday was wet. Lots of salt on roads. Spent rest of day watching Si-FI movies. Ready to do something today. GS is coming over to help me put a new toilet in main bathroom. Great kid and always willing to help.
Male Cardinal is back at feeders.

Prayers and best wishes for everyone.

Good Morning All.

 

[daugen]

good Sunday morning all.
Going to rain all day here, highs in 40s

RNG, never bought bonds individually, don't have enough finance background to make good choices but
have always done well with Vanguard bond mutual funds. Over last 20 years have averaged 4-8 percent yield with
bond funds, and more importantly, they always have been the anchor to windward in the event of an equity storm. Used to be bonds
and equity went in different directions, not so much anymore. Since unlike most of you, I don't have any kids, no need for me to preserve capital
other than not running out of money. This past year has shown me I'm more liable to run out of time...

My whole portfolio has a long term growth rate of 9.5% with
a 50/50 mix of equities and bonds, helped by being primarily in green investments which have shunned Big Oil in past years. So I can take out 6 percent a year instead of the
4 recommended for most folks. But if market dropped 20 percent this year, which it might, then the 6 drops to 4.

I spent 7 years as a financial doctor for families and it's surprising how common most folks financial challenges are.
Other than a small car loan right now, I'm debt free and it will have to be something really worthwhile, like a new home, to get me back in debt.
Or a tractor...:thumbsup:
What I find interesting is I have less money than any of my siblings and I
seem to worry about it less than they do. Just have to live within your means, not your desires.

Many of us are at the age where our parents experience during the Depression made a lasting impression on us.