I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
KeroldBass
- just turned 60 in may ..so 23 months from now I get "early $$-check"..the differential in early vs. full does not go negative for 17 years.! That puts me at 77 ..I suspect I would have "really slowed down" by then..so why wait for the money ... besides with a pension and investment income, the math does not say "wait till 67".
Renewable income comes in three forms.
- monthly pension for life w/75% survivor benefit
- All non-dividend paying stock funds were sold out of my 401K and I bought a 20 year payout annuity..main benefit was reduced income and no or very small tax base. The prime motivator here "was not growth" as the ROI is low..like a stable stock fund..
- Remaining stock funds in 401K pay dividends .. historically these funds kept a solid "growth" on dividend payments. Combined, I get a quarterly dividend payment instead of reinvesting the dividend. I maintain a desired level of Wealth Growth form the per unit share value. If that value goes up or down, I don't really care. I am in it for the continuous dividend income.
My kids can fight over the stock value when I croak !! LOL LOL
The entire renewable income plan was engineered according to my wants and desires and it fully supports my new lifestyle plan. It generates about 60% of my previous working mans paycheck "after tax value". That coupled with knowing I am not getting screwed by the tax man is very satisfying.
Wealth Management is key to my plans success. I watch it like a hawk and ensure the 20 year projected math calculations are holding on a flat or rising curve. I plot it every 90 days.
Over time, my wealth goes down but my income remains steady or has modest growth ..ie ..dividend increase and future $$-check cost of living increase.
Risk mitigation is also accounted for..I do this by looking back four quaters at a time, to ensure my income curve is still flat or modestly growing.
The only "hit" I have taken in this shitty economy is "total paper value" of the units of stock. But ..I am not in sell mode so it has no impact ..!
I have negated the "forced withdrawal" from my 401K (sale of stock to meet IRS requirements of 401k plan) as I have already sold the non-dividend stock. I don't have to sell existing stock units.
I have satisfied all IRS 401K plan requirements and my previous employer does not require me to 'cash out"..
A key factor in maintaining the "value of wealth" is no debt. I have eliminated the backened loss of continuing interest dollars payment to a 3rd party. If I need cash, I simply borrow from my 401K and pay myself 1.5% per month interest and the money I borrowed.
It may sound rather complex..but it really is not. All I did, is to lay out my cash assumption requirements (thats called a budget) and fit my available money resources to those requirements.
The most complex part of the math is adding,subtracting, multiplying and plotting a graph to see "where am I" in the plan.
Your comment on "to find fulfillment"..
I completely shed the corporate america lifestyle and I really never did become a Boomer, parsee. I am 100% in play mode and have become a "master at putzing around"..I don't even wear a watch anymore..I don't care what time it is ! The only thing I have to do is remember to take the trash out on Mondays. Even that is no big deal, but it does save a trip to the K-mart dumpsters to get rid of it ..LOL LOL
Regards ..Froggy
KeroldBass
- just turned 60 in may ..so 23 months from now I get "early $$-check"..the differential in early vs. full does not go negative for 17 years.! That puts me at 77 ..I suspect I would have "really slowed down" by then..so why wait for the money ... besides with a pension and investment income, the math does not say "wait till 67".
Renewable income comes in three forms.
- monthly pension for life w/75% survivor benefit
- All non-dividend paying stock funds were sold out of my 401K and I bought a 20 year payout annuity..main benefit was reduced income and no or very small tax base. The prime motivator here "was not growth" as the ROI is low..like a stable stock fund..
- Remaining stock funds in 401K pay dividends .. historically these funds kept a solid "growth" on dividend payments. Combined, I get a quarterly dividend payment instead of reinvesting the dividend. I maintain a desired level of Wealth Growth form the per unit share value. If that value goes up or down, I don't really care. I am in it for the continuous dividend income.
My kids can fight over the stock value when I croak !! LOL LOL
The entire renewable income plan was engineered according to my wants and desires and it fully supports my new lifestyle plan. It generates about 60% of my previous working mans paycheck "after tax value". That coupled with knowing I am not getting screwed by the tax man is very satisfying.
Wealth Management is key to my plans success. I watch it like a hawk and ensure the 20 year projected math calculations are holding on a flat or rising curve. I plot it every 90 days.
Over time, my wealth goes down but my income remains steady or has modest growth ..ie ..dividend increase and future $$-check cost of living increase.
Risk mitigation is also accounted for..I do this by looking back four quaters at a time, to ensure my income curve is still flat or modestly growing.
The only "hit" I have taken in this shitty economy is "total paper value" of the units of stock. But ..I am not in sell mode so it has no impact ..!
I have negated the "forced withdrawal" from my 401K (sale of stock to meet IRS requirements of 401k plan) as I have already sold the non-dividend stock. I don't have to sell existing stock units.
I have satisfied all IRS 401K plan requirements and my previous employer does not require me to 'cash out"..
A key factor in maintaining the "value of wealth" is no debt. I have eliminated the backened loss of continuing interest dollars payment to a 3rd party. If I need cash, I simply borrow from my 401K and pay myself 1.5% per month interest and the money I borrowed.
It may sound rather complex..but it really is not. All I did, is to lay out my cash assumption requirements (thats called a budget) and fit my available money resources to those requirements.
The most complex part of the math is adding,subtracting, multiplying and plotting a graph to see "where am I" in the plan.
Your comment on "to find fulfillment"..
I completely shed the corporate america lifestyle and I really never did become a Boomer, parsee. I am 100% in play mode and have become a "master at putzing around"..I don't even wear a watch anymore..I don't care what time it is ! The only thing I have to do is remember to take the trash out on Mondays. Even that is no big deal, but it does save a trip to the K-mart dumpsters to get rid of it ..LOL LOL
Regards ..Froggy
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
Kerold,
This is what we are speaking to in coaching, but it is not STRUCTURE as such because there is no 'one size fits all', not in these turbulent times. It is indeed a process and largely depends on each person not allowing life to just happen to them but to plan and literally forecast what they want to happen to them, despite inevitable challenges. I am a Life Transitions Coach as you will see from my Profile and I work with babyboomers and younger seeking this new life-work balance and new direction for these demanding times.
Our friend, badFrog, represents a group of very calculating and focused (at least financially) people who can look back and be pleased with the path they took, but how many are those?
Let me know what area of work you have been in and what direction you see yourself going, or are you somewhat confused? You may also contact me directly through my website.
Kerold,
This is what we are speaking to in coaching, but it is not STRUCTURE as such because there is no 'one size fits all', not in these turbulent times. It is indeed a process and largely depends on each person not allowing life to just happen to them but to plan and literally forecast what they want to happen to them, despite inevitable challenges. I am a Life Transitions Coach as you will see from my Profile and I work with babyboomers and younger seeking this new life-work balance and new direction for these demanding times.
Our friend, badFrog, represents a group of very calculating and focused (at least financially) people who can look back and be pleased with the path they took, but how many are those?
Let me know what area of work you have been in and what direction you see yourself going, or are you somewhat confused? You may also contact me directly through my website.
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
HI HB..you said ...people who can look back and be pleased with the path they took, but how many are those?
Question: ..that sounds like my group is not well represented ? Are Boomers unable to think their way through life and establish personal goals and objectives ? I ask these questions because I wonder why my friends and associates are bewildered at "how I did it". My standard reply was "I wanted it".. I guess folks in general, are unable to visualize a lifestyle 20 to 40 years into the future and conduct their current life in manner that allows that vision to materialize.
Froggy
PeeEss ..I realize that obstacles can present seemingly insurmountable problems. Then again, my family suffered a life long illness and loss of a substantial second income and new financial medical bills. For that reason, I discount the argument of obstacles, as a valid excuse to be applied in general to lifestyle planning.
HI HB..you said ...people who can look back and be pleased with the path they took, but how many are those?
Question: ..that sounds like my group is not well represented ? Are Boomers unable to think their way through life and establish personal goals and objectives ? I ask these questions because I wonder why my friends and associates are bewildered at "how I did it". My standard reply was "I wanted it".. I guess folks in general, are unable to visualize a lifestyle 20 to 40 years into the future and conduct their current life in manner that allows that vision to materialize.
Froggy
PeeEss ..I realize that obstacles can present seemingly insurmountable problems. Then again, my family suffered a life long illness and loss of a substantial second income and new financial medical bills. For that reason, I discount the argument of obstacles, as a valid excuse to be applied in general to lifestyle planning.
If you care to be inspired, to find direction,clarity, purpose, vision, balance, talk to us about what you are doing and...
If you care to be inspired, to find direction,clarity, purpose, vision, balance, talk to us about what you are doing and...
BadFrog,
I wonder why you chose this name. Anyway, let me ask you:
Did you see your way clearly all the way back when, and consciously visualize your future? Or, are you a financial wizard who methodically planned to make sure that your finances were always in order and hence the rest of your life?
Let those who may be baffled at how correctly all this turned out for you, know what your mindset has been over the past decades. How did you deal with 'threats and challenges' which might have altered your plans or goals?
You don't have to answer everything all at once. Thanks for the dialogue.
Before I forget, you have earned what you got.
BadFrog,
I wonder why you chose this name. Anyway, let me ask you:
Did you see your way clearly all the way back when, and consciously visualize your future? Or, are you a financial wizard who methodically planned to make sure that your finances were always in order and hence the rest of your life?
Let those who may be baffled at how correctly all this turned out for you, know what your mindset has been over the past decades. How did you deal with 'threats and challenges' which might have altered your plans or goals?
You don't have to answer everything all at once. Thanks for the dialogue.
Before I forget, you have earned what you got.
Posted: May 15, 08 4:34pm
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
KeroldBass
- just turned 60 in may ..so 23 months from now I get "early $$-check"..the differential in early vs. full does not go negative for 17 years.! That puts me at 77 ..I suspect I would have "really slowed down" by then..so why wait for the money ... besides with a pension and investment income, the math does not say "wait till 67".
Renewable income comes in three forms.
- monthly pension for life w/75% survivor benefit
- All non-dividend paying stock funds were sold out of my 401K and I bought a 20 year payout annuity..main benefit was reduced income and no or very small tax base. The prime motivator here "was not growth" as the ROI is low..like a stable stock fund..
- Remaining stock funds in 401K pay dividends .. historically these funds kept a solid "growth" on dividend payments. Combined, I get a quarterly dividend payment instead of reinvesting the dividend. I maintain a desired level of Wealth Growth form the per unit share value. If that value goes up or down, I don't really care. I am in it for the continuous dividend income.
My kids can fight over the stock value when I croak !! LOL LOL
The entire renewable income plan was engineered according to my wants and desires and it fully supports my new lifestyle plan. It generates about 60% of my previous working mans paycheck "after tax value". That coupled with knowing I am not getting screwed by the tax man is very satisfying.
Wealth Management is key to my plans success. I watch it like a hawk and ensure the 20 year projected math calculations are holding on a flat or rising curve. I plot it every 90 days.
Over time, my wealth goes down but my income remains steady or has modest growth ..ie ..dividend increase and future $$-check cost of living increase.
Risk mitigation is also accounted for..I do this by looking back four quaters at a time, to ensure my income curve is still flat or modestly growing.
The only "hit" I have taken in this shitty economy is "total paper value" of the units of stock. But ..I am not in sell mode so it has no impact ..!
I have negated the "forced withdrawal" from my 401K (sale of stock to meet IRS requirements of 401k plan) as I have already sold the non-dividend stock. I don't have to sell existing stock units.
I have satisfied all IRS 401K plan requirements and my previous employer does not require me to 'cash out"..
A key factor in maintaining the "value of wealth" is no debt. I have eliminated the backened loss of continuing interest dollars payment to a 3rd party. If I need cash, I simply borrow from my 401K and pay myself 1.5% per month interest and the money I borrowed.
It may sound rather complex..but it really is not. All I did, is to lay out my cash assumption requirements (thats called a budget) and fit my available money resources to those requirements.
The most complex part of the math is adding,subtracting, multiplying and plotting a graph to see "where am I" in the plan.
Your comment on "to find fulfillment"..
I completely shed the corporate america lifestyle and I really never did become a Boomer, parsee. I am 100% in play mode and have become a "master at putzing around"..I don't even wear a watch anymore..I don't care what time it is ! The only thing I have to do is remember to take the trash out on Mondays. Even that is no big deal, but it does save a trip to the K-mart dumpsters to get rid of it ..LOL LOL
Regards ..Froggy
Posted: May 15, 08 8:49pm
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
Kerold,
This is what we are speaking to in coaching, but it is not STRUCTURE as such because there is no 'one size fits all', not in these turbulent times. It is indeed a process and largely depends on each person not allowing life to just happen to them but to plan and literally forecast what they want to happen to them, despite inevitable challenges. I am a Life Transitions Coach as you will see from my Profile and I work with babyboomers and younger seeking this new life-work balance and new direction for these demanding times.
Our friend, badFrog, represents a group of very calculating and focused (at least financially) people who can look back and be pleased with the path they took, but how many are those?
Let me know what area of work you have been in and what direction you see yourself going, or are you somewhat confused? You may also contact me directly through my website.
Posted: May 15, 08 9:22pm
I like most people our age am looking to find fullfilment in the work environment. With 70 million of us I sure their i...
HI HB..you said ...people who can look back and be pleased with the path they took, but how many are those?
Question: ..that sounds like my group is not well represented ? Are Boomers unable to think their way through life and establish personal goals and objectives ? I ask these questions because I wonder why my friends and associates are bewildered at "how I did it". My standard reply was "I wanted it".. I guess folks in general, are unable to visualize a lifestyle 20 to 40 years into the future and conduct their current life in manner that allows that vision to materialize.
Froggy
PeeEss ..I realize that obstacles can present seemingly insurmountable problems. Then again, my family suffered a life long illness and loss of a substantial second income and new financial medical bills. For that reason, I discount the argument of obstacles, as a valid excuse to be applied in general to lifestyle planning.
Posted: May 15, 08 9:29pm
If you care to be inspired, to find direction,clarity, purpose, vision, balance, talk to us about what you are doing and...
BadFrog,
I wonder why you chose this name. Anyway, let me ask you:
Did you see your way clearly all the way back when, and consciously visualize your future? Or, are you a financial wizard who methodically planned to make sure that your finances were always in order and hence the rest of your life?
Let those who may be baffled at how correctly all this turned out for you, know what your mindset has been over the past decades. How did you deal with 'threats and challenges' which might have altered your plans or goals?
You don't have to answer everything all at once. Thanks for the dialogue.
Before I forget, you have earned what you got.