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Author: FoolishProf One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 169  
Subject: A "Sooner" Date: 8/8/1999 8:02 PM
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I like this board. Great idea, whoever. I usually go to {Managing Your Money->Retirement Investing} for light reading. Since I'm planning to cash in my chips on April 1, 2001 , this one fits me.

In case you wonder why I have choosen April Fool's day for retirement, I work for a state university system and I'll get a full year's credit in the Teachers' Retirement System if I stay through March 31st.

The posts about withdrawal strategies and portfolio allocation have been very interesting. I am just beginning to study these issues and develop my own approach.

I going to lurk now.

FoolishProf
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Author: GrayWulff Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 43 of 169
Subject: Re: A "Sooner" Date: 8/9/1999 1:02 PM
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Since I'm planning to cash in my chips on April 1, 2001 , this one fits me.

Imagine that! I'm planning to make March 30, 2001 my last day. Similar reasons, company bonuses get paid in March. ;-) Let's have an on-line party!

598 days, but who's counting.

Cheers!
GW

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Author: rspires One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53 of 169
Subject: Re: A "Sooner" Date: 8/9/1999 8:26 PM
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The posts about withdrawal strategies and portfolio allocation have been very interesting. I am just beginning to study these issues and develop my own approach. I going to lurk now. FoolishProf
As part of your "education and planning" you may want to look into the BIG issue of how much can I withdraw, over what timeframe, and still not run out of money in retirement! VERY IMPORTANT. I suggest that you look a the following Sites and download (and play what if games) with some of the available Excel Spreadsheets:

http://www.scottburns.com/wwtrinity.htm

http://www.geocities.com/WallStreet/8257/re50.html

http://www.geocities.com/WallStreet/8257/concport.html

Best of Retirement Planning. Dick




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Author: FoolishProf One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 55 of 169
Subject: Re: A "Sooner" Date: 8/9/1999 8:45 PM
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As part of your "education and planning" you may want to look into the BIG issue of how much can I withdraw, over what timeframe, and still not run out of money in retirement! VERY IMPORTANT. I suggest that you look a the following Sites and download (and play what if games) with some of the available Excel Spreadsheets:

Thanks, Dick. Fortunately, I will have living expenses and some "pocket change" covered due to a very nice defined benefits teachers retirement, a US Navy disability retirement, and a steady consulting retainer as long as I want it. I'll most likely give up the retainer when SS kicks in.

Things I haven't settled on:
1. Is it better to start drawing SS at 62 or 65?
2. Is it always better to delay withdrawals from tax deferred acounts until "haf to" kicks in at 71.5?

I've looked at both of these every which way and the answers seem to be "it depends".

I'm certainly going to take a look at those links you gave me. Many thanks.

FoolishProf

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Author: sheilaoliver Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 57 of 169
Subject: Re: A "Sooner" Date: 8/10/1999 11:22 AM
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DearProf:Re "half to at 71.5"..I have been told that waiting sometimes creates a painful tax burden at a bad time.

However, I, by choice, created my own painful 4 yr tax buden by converting some IRA funds to Roth. Am past 59.5 but must swallow above first because of bracket danger. Oh well...

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Author: hvyevy2 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 59 of 169
Subject: Re: A "Sooner" Date: 8/10/1999 11:30 AM
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Hi, again FP

Things I haven't settled on:
1. Is it better to start drawing SS at 62 or 65?
2. Is it always better to delay withdrawals from tax deferred acounts until "haf to" kicks in at 71.5?<i/>

One of my best friends, who was also my first boss, low these many (40 to 45) years ago, was a calaculating fool. His calculations proved to him that he would have to live far longer than he thought he would to lose on taking SS at 62, so that is what he did. I don't remember his calculations, but do them yourself and see if you concur.

Second, I believe the "haf to" kicks in at 70.5, a year earlier than you show.

Regards

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Author: hvyevy2 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 60 of 169
Subject: Re: A "Sooner" Date: 8/10/1999 11:32 AM
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I thought I was so smart learning how to use italics. Unfortunately, I didn't learn how to turn them off. Sorry

hvyevy2

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Author: vargaj Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 61 of 169
Subject: Re: A "Sooner" Date: 8/10/1999 1:29 PM
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I think that most people, when they look at it long enough, decide that 62 is better. The SSA says that the average age at which people start drawing SS is about 62.5. This may be changing, however. The standard age for SS is moving up to 67. You can still start at 62, but the discount for the early start at 62 is greater when the standard age is 67, than when it is 65. In other words less money. Still, I plan to retire at 55 and start SS at 62, even though my standard retirement age is 66 (born in 1945).

Joe Varga

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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 65 of 169
Subject: Re: A "Sooner" Date: 8/10/1999 8:32 PM
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I thought I was so smart learning how to use italics.
Unfortunately, I didn't learn how to turn them off. Sorry


on <x>

Off </x>


replace x with i

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Author: rspires One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 66 of 169
Subject: Re: A "Sooner" Date: 8/10/1999 10:55 PM
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1. Is it better to start drawing SS at 62 or 65?
I look at this question based upon NPV, assumed reasonable return rates, 0%, 50% and 85% of SS being taxed by Uncle, at both the 28% and 31% marginal tax bracket, COL adjustments at 3%, 4%, and 5%, plus a few other variables to just get a feel. My conclusion was that the crossover point was ALWAYS beyond my life expectancy!!! Thus take the money at 62 an enjoy it!!! Dick


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Author: bailey7094 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 70 of 169
Subject: Re: A "Sooner" Date: 8/11/1999 9:45 AM
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/i/
1. Is it better to start drawing SS at 62 or 65? I look at this question based upon NPV, assumed reasonable return rates, 0%, 50% and 85% of SS being taxed by Uncle, at both the 28% and 31% marginal tax bracket, COL adjustments at 3%, 4%, and 5%, plus a few other variables to just get a feel. My conclusion was that the crossover point was ALWAYS beyond my life expectancy!!! Thus take the money at 62 an enjoy it!!!

Dick

Thanks for the feedback, Dick. My limited analysis was not nearly so complete a sensitivity test as yours. I also concluded the same thing.

FoolishProf

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Author: JDWinNOLA One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 97 of 169
Subject: Re: A "Sooner" Date: 8/30/1999 7:56 PM
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I think if you factor in your wife's return, and assuming she does not have enough quatrers to meet the SSA requriements, it is better to wait until 65 to start. At least the numbers crossed at 78 (my age), so from That age on, as long as either of us is alive we are ahead. Neither my wife or I expect to die before 90. I may be slowed up by then but do not plan on dying. We are both in much better health than our parents at our ages and expect to live into our 90's. I'm curious how you arrived at your life expectancy?


Jim

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