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SPDR S&P 500 ETF Message Board

  • breathdeepandsmile breathdeepandsmile Jan 19, 2014 5:49 PM Flag

    Dumped a Vanguard mutual fund on Friday

    for $303K, represented only 9% of my ira but couldn't take the pressure...and bailed. Lousy stock mkt action last week and I'm 58 retired and wanting to stay that way...what a way to live, fear and greed....Gawd, life is just too short...those 3% 5 yr cds look better all the time, throw in a few fixed annuities when rates go up...who needs this current lifestyle...arghh

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    • Saved +$20k by dumping when I had ♉!!!

    • Please do give me your perspective on annuities, and which cos. you recommend.

      I've heard from some of the best, that annuities aren't good investment options for the rest (of folks like me.)

      • 1 Reply to czarinaofcamelyacht
      • Please do give me your perspective on annuities, and which cos. you recommend.

        I've heard from some of the best, that annuities aren't good investment options for the rest (of folks like me.)
        ---------------------
        IMO, it depends on your age, your projected financial needs to live the life you want, and your current financial situation. Looking at actuary tables can give you an idea as to how much you might really need based on your current age, after you also factor in an average annual inflation #, of which I chose 3%.

        You can find 5 year fdic insured cd's now paying 3% and AA+ fixed annuities paying $6,000/year for every $100,000 surrendered to the Insurer. So if you have $1MM for sake of convo and you're 60 years old, theoretically you could put half in annuities and the other half in 5 year cd's. Your life expectancy is 80 years per the tables, so let go with 85 years old till dead anyway for sake of convo.

        With cd's @ 3% you would generate $15K per year, and $60,000/yr with the annuities totaling $75K/year. Throw in your pension and SS and you could be well over $100,000/year. Then after 5 years your cd's will mature, yer back in cash with half your original money plus interest and then be able to consider new/different safe investment options while still collecting fixed income on the FA piece.

        This would be a simplified answer to your question. But first, check with your state regulatory dept re annuity insurance since annuities are not fdic but most states offer it for free but the rules vary from state to state. Bear in mind this, yer not going to live much longer than 85 if yer 60, and will you really spend $100,000/year until you die? What are you going to do with all that income? Enjoy life while you can! Fixed annuities with a guaranteed cash refund are also available for estate planning but are limited in nature so do your homework.

    • xtgeminiman@ymail.com xtgeminiman Jan 19, 2014 10:08 PM Flag

      Sounds like you have enough to retire off of or dang near. Why not put some of it in the emerging market mutual fund? That one isn't valued too bad. Just dollar cost average it.

    • The market is going much higher, but having 9% on the sidelines is definitely a good idea, especially when the 9% is over 300K. The market broke out last year. The FED's work over the last few years is and will continue to translate into expansion on a grand scale. I expect The S&P at $5000 within 10 or so years based on recent and current FED policy. So, you're going to make a lot of money on the other 91%. Don't sweat the 9% or the ups and downs.

      • 1 Reply to stoptheinsanity2000
      • actually, for clarity sake, I'm now 100% cash once I had sold that V-Guard MF last Friday, I had been liquidating since late 12/2013. With a + $1.25MM 100% cash ira balance I can now straight-line w/d's from age 60 till 90 and have +$93K/year to retire on, which would include SS and pension...this would be based off of current IRA balances with zero appreciation taken into consideration, throw some 5 yr cd's and some fixed annuity income with zero cash refund and I might be smooth sailing, but I'll miss the juice of the action...even though it's killing my soul...yeah maybe I'm just a gambler and think I need the action...but it's killing me Man, it's killing me!

    • making a profit is never bad !

    • yeah 9pct and risk the rest of your money..Sure you aren't a BS artist….sure your not

 
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