Dad GUM! These numbers are getting closer to home all the time.

[Buckrub]

http://msn.foxsports.com/mlb/story/jim-fregosi-former-manager-dies-at-71-021414

Sure is a lot of things I want to do, places I want to go, people I want to see.............and I'm running out of time.......

[Thumper]

Not a fan and don't know the name ... but R.I.P.

Odd how leaving out one teeny little word (he?) can change the whole meaning of a sentence!

"The Atlanta Braves say they were notified by a family member that died early Friday in Miami ..."

[BarryBobPosthole]

I turn 59 1/2 on Sunday. Now why would I be tracking that milestone?

BKB

[Buckrub]

Time to convert your 401K to an IRA.

[BarryBobPosthole]

Should I really convert it? What does that do for me?

BKB

[Buckrub]

Yes, at the first chance.

401k has how many investment choices? Twenty?

IRA has 8,000......................

When I did it, I was still working. I converted 80% to Fidelity IRA. They wanted to charge me 2% (Your BIG one might be 1%, the big ones are cheaper) fee to manage it, and I said "no thanks, I'm not an idiot". I moved it in June of 2008, and I put most of my IRA into Oil Stocks, which had done 40% gain a year for years. They promptly tanked and I lost a ton. So, I was an idiot.

However, I did ultimately learn how to invest. At least enough to where I've done ok. Anyway, I kept the 401k of course, because I was still working and still investing per paycheck. But I now had an existing IRA too, and made way more on that than I did on the 401k. In fact, I didn't pay attention to the 401k most of my working years, and later when I reviewed some old papers, I saw that I had lost money several years on it, but didn't even notice or pay attention at the time. I was just "letting it all sit somewhere". Just a TINY bit of knowledge would have saved me over $100,000............. and then when I retired, I stopped the 401k of course, and converted the rest to the existing IRA. I can still contribute annually if I want, although I don't........till I'm 70.5 years old.

Who is yours with? There are many funds that aren't sold by some companies, and many more that are sold, but are not pushed hard because they aren't theirs. If it is Fidelity, call me. You need to put 1/2 of your million into FASIX. Safe, pays dividend 11 months a year, and a Capital gains the other one. The actual price has gone up only slightly since I bought it in 2010, but I've made almost 30% just on the dividends. And every time the market goes way down, it goes down only slightly.

I told you on 02/06 to buy FBIOX, because it was below $200.00 a unit. I bought $12,000 worth, and it's gone up 11% as of yesterday. I had some at $90 and like an idiot sold it, scared of that first 'sequester' thing. :banghead

You can also buy the "Target Date Funds". I put 25% in one of those in 2010, with target date of 2010, and still have it. I retired in 2011 so that was the closest one to my retirement date. It has gone up almost 100% since I bought it. Many gurus are down on Target Date funds, but they serve a purpose and are safe if you are older.

I can't imagine why you would not want to do so. There is no penalty whatsoever to do this AFTER you are 59.5 years old. AND, you do NOT have to use whomever Verizon uses, if you don't want. For example, if they use Schwab and you want to move it to Fidelity, you can. It's YOUR money, not theirs. Or you could move it to a variable annuity with a life insurance company (DON'T DO THIS), or anywhere that's legal to do so. But an IRA gives YOU many choices that you do not have with 401k. Plus, you can call and talk to folks about all kinds of things.

One thing Fidelity has, that I loved. A software program that you put in all your income, all your expected expenses, and it knows your investments already and factors that in, and it tells you how close you will come if you retire at X time, or Y time. It's awesome. It took me about 20 tweaks at it to get all the stuff that I figured I'd need to spend, but it was worth it. (The only thing I was really short on, was how much my kids are draining me)................

I get hammered here, but I really have learned a ton about this stuff. I'm about 2% proficient, but that's way more than I ever was.

[BarryBobPosthole]

The only reason I haven't is I wasn't able to until now so I just never looked at it. My wife converted hers to an IRA product and its been underperforming IMO. My 401 made 16% last year and I was more than happy about it. I think the other stuff we have outside of that did about 10% which is a pretty good average but low for this market. I will have to have a look at some alternatives. You've got me thinking.

all I was really thinking about the 59 1/2 milestone is its the first 'fuck you' milestone in my career. Kinda feels good I could say that if it was necessary.

BKB

[Buckrub]

I am pretty conservative.

I made about 14% last year. But remember, I'm already retired and have stopped the aggressive stuff.............which is what did well last year. One fund made 73%, and the one I should have kept made 103%

[Buckrub]

The only reason I haven't is I wasn't able to until now so I just never looked at it. My wife converted hers to an IRA product and its been underperforming IMO. My 401 made 16% last year and I was more than happy about it. I think the other stuff we have outside of that did about 10% which is a pretty good average but low for this market. I will have to have a look at some alternatives. You've got me thinking.

all I was really thinking about the 59 1/2 milestone is its the first 'fuck you' milestone in my career. Kinda feels good I could say that if it was necessary.

BKB

I did not underperform because it was an IRA product. It underperformed because she invested wrong.

[BarryBobPosthole]

Roger that. We put it in a product that has a guaranteed floor of 5%. that's the more conservative part of our plan. Mine is a little more aggressive but calling it aggressive is a gross overstatement. It just follows the overall market a little closer I guess is the way to put it.

I'm not ready to risk my retirement on stuff that doesn't have some sort of bottom line return even if the creeks rise. And they will. We're due a major correction and I just gotta make some plans to try to soften that landing a bit when it happens.

BKB

[Buckrub]

Only guaranteed IRA product is an annuity. And you can expect $5.00 per thousand per month IF you are over 60, and $4.00 or so if you start it under age 60.

And if it's a variable annuity, even that has risk.

If you have enough money that you seriously don't NEED any more, then put it in an IRA but put it in a Money Market inside the IRA. Then draw out whatever you need. The rule is to draw out 4% a year, and it'll last. That won't be true with a .001% money market but that's the idea. If the money you have is NOT enough (mine is nowhere close), you need to learn how to invest.

[BarryBobPosthole]

That's why I continue to work. I'm truly torn about it, but the bottom line is every year I work, the higher my standard of living will be when I do retire. At some point the former outweighs the latter and I'll pull the trigger. Right now, the only thing I can control is what I do, so I work. Abnd that only is controllable up to a point.

and yeah I'm gonna be pissed if I die a year after I retire.

BKB