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So, foolish professor and GrayWulff, you're going to do it on 3/31/01. Well, how's this!! I'm doing it on 3/31/00. I have a logical reason. I will be 70 on 4/1/00!!! Yeah, I know, April Fool, but it is true, that's my birthday.

If you guys and gals are saying to put 5 years of income in MMF or bonds or something, are you saying this amount should be net after deducting SS and retirement and trust payments? i.e. figure what you need for 5 years, subtract what you know you are going to get from the above and pull out the rest for the MMF or bonds? Do you then adjust each year from the mandatory IRA, 403(b) withdrawals? Let me know.

hvyevy2
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Congratulations hvyevy2! Why have you waited so long to retire?

I'm not sure I will put 5 years in cash. It will almost certainly cut down on total return, and personally, I feel comfortable with a little more risk.
Also, my first few years will be financed by mandatory payments from a tax-deferred, delayed salary plan. So, cash won't become an issue for a while.

The big danger, of course is that we could go into a stock market slide that would last two or three years. Not having cash would force one to sell stocks at absolutely the worst time. The trade-off is that holding all those fixed income bonds cuts into your total return. Rock and a hard place! Everyone has to make their own call.

Please do tell us about what's kept you going so long. You must truly have enjoyed your work.

Cheers,
GW

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Well, I did until just very recently. But the truth of the matter is, I was broke at age 44. Had a bad experience with my own business. Moved to a new town and a new job. Had an employer who always thought about himself first, but was forced to do for his employees what he did for himself. Stayed with him for 14 years and accumulated about 55K in retirement and profit sharing. Invested 39K in '87 and went to work for a University as Purchasing Director. Now have 110K in an IRA, about 10K in a brokerage account, 90K in a 403(b) and 35K in a TSA. I will be questioning you all on your advice as to where to go with what as soon as I have some answers, like the last post. Thanks for your help; again I have enjoyed my working career.

hvyevy2
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Hey hvyevy2 ,

I will be 70 on 4/1/00!!! Yeah, I know, April Fool, but it is true, that's my birthday.

So, how DO you know if someone is sincere when they wish you a "happy birthday"?

Do you then adjust each year from the mandatory IRA, 403(b) withdrawals? Let me know.

Are you going to "roll" your 403(b) to a self-directed IRA? That's my plan even though I'm not at all disappointed with Vanguard. Most of my sheltered funds are in VFINX. I have a SEP IRA with Waterhouse and plan to move all of the 403(b) (Lincoln National, Growth and Income) and 403(b)7 (Vanguard, Index 500) funds I have into that IRA. Then I'll set up a strategy yet to be finalized. Probably be some Spiders, Diamonds, Qcubed, and maybe Webs amongst the equities. So far, the Rule Maker (old Cash King) has pleased me in my after-tax Waterhouse account.

Cheers.
FoolishProf
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So, how DO you know if someone is sincere when they wish you a "happy birthday"?<i/>

I don't, I only hope they are. Most of them say, "Gee, I wonder what his mother thought?" or "The joke was on his mother!!".

No, I am not going to roll my 403(b) into an IRA. At 70-1/2 I have to start withdrawing so I don't see the purpose. Please, someone correct me if I am wrong. I intend (I am going to ask for more advice shortly when I get all the facts together) to put my first annual withdrawal from the 403(b) and my IRA into an MMF for living expenses. I will draw approximately $38K from SS and other retirements & trusts and need an additional (according to my calculations) $12K for annual living. This will be the withdrawals as mentioned above. In addition, I anticipated buying into the FF with some of the 403(b). Of course, I will pay taxes on all the withdrawals. Comments please.
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