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Paul Wagner

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  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    YCant...aha! I retired at 50 so that's why it didn't matter. No wonder I didn't remember the rule: it didn't apply to me.
    Apr 18 10:38 PM | Likes Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    Thanks, Mike and everyone...actually my question was retrospective, because I'm 67 and I guess I didn't remember the rules. As it turns out (I went back and looked at tax returns), I did pay a grand total of $2,200 of penalty back in 2004. So, I did screw up in that sense. I must have had a reason, but I don't remember what it was. The memory doesn't get any better, I'm told. :=)>
    Apr 18 10:33 PM | Likes Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    Mike

    It makes perfect sense. Appreciate the suggestion. I admit mine is a "movement of one" and therefore inconsequential and I could have more impact funding local good works by following your suggestion. The die hasn't been cast yet.

    Paul
    Apr 18 08:14 PM | 1 Like Like |Link to Comment
  • What Exactly Is Risk? [View article]
    GoLakers..I haven't read all the comments, but yours is the best definition of risk among the bunch that I have read, because it covers the essence of what insurers --and reinsurers -- of all types cover.
    Apr 18 07:29 PM | Likes Like |Link to Comment
  • What Exactly Is Risk? [View article]
    Risk comes from thinking everything Warren Buffett says is worth repeating.
    Apr 18 05:28 PM | Likes Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    rip2451....I'm 67 and haven't taken SS. If I wait until I'm 70 1/2, my monthly check would be $2800 plus any increases, if any, between now and then. My parents lived to 102 and 98, so if my genes mean I'll have a long life, waiting would make more economic sense.

    Some SAers have read my past comments that I don't intend to take Social Security at all, because I believe I am already secure enough. It always seems to stir up a lot of commentary. My wife takes hers and every one I know takes theirs, so I certainly don't judge anyone who accepts from the government that which they are entitled to by virtue of the fact that they have contributed to the system. I deeply believe our entitlements, good as they are and necessary for many, are crowding out our government's ability to do other things, things that we used to take pride in, such as our space program. veteran's programs, etc. So, I intend to, in effect, donate my SS entitlement to "the general welfare" by passing on it, fully realizing that Washington is unlikely to wisely spend the money I leave with them. But one can always hope.
    Apr 18 05:10 PM | Likes Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    Mike..in defense of your non-decision to convert: seeing your nest egg and your income go down are not dynamics that tend to make one sanguine about the future. The natural psychological response was the one you exhibited, i.e. hang on to what you've got.
    Apr 18 01:44 PM | 1 Like Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    unclephool...like you, my company had a defined benefit plan, but no medical plan for early retirees. The pension could be accessed no earlier than age 55, with step ups each year that one delayed taking it. I took a lump sum at age 55 (I retired at 50) because the pension would have been only about $25,000 annually if taken that early. I rolled the lump sum over into an IRA. I haven't had to take any distributions from it yet and it's value has almost tripled in 12 years and dividend income is now around $30,000. I'll need to take distributions in a couple of years.

    Many companies do not allow a retiree the lump sum option, but if yours does, you might want to consider taking it. (Of course, everyone's situation is different and that may not be the right decision for you.) A good dividend growth portfolio may very well serve you much better than the annuitized pension.
    Apr 18 01:30 PM | 1 Like Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    UnclePool...what does "eligible for early retirement in a few years at 50" mean at your place of employment? As far as the tax penalty on withdrawals: don't make it a bigger deal than it is. You should be able to manage around it, unless your finances are tight already. Let's say you have X in your 401K. Would you be able to retire if it were 10% less, say $600,000 instead of $650,000. There's a price to retiring early and you may have to be more frugal for the first 10 years. As you analyze your current cost of living ask yourself a). how much of my expenses are related to my work and b) how much do I spend just because I can? When you stop working and you put yourself in charge of how much goes into your checking account, you will look at spending in a whole new way.
    Even if you have to "lose" 10% of your 401K, it's highly likely you'll manage just fine.
    Apr 18 08:32 AM | 2 Likes Like |Link to Comment
  • General Electric: The Beginning Of The Industrial Breakout [View article]
    Michael...homeruns are nice, but I'd take a double. This one could be a 5-year double, including dividends, which would put it at ~46 in 2019. Seems reasonable.
    Apr 17 10:00 PM | 1 Like Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    mdwork... I rolled my 401k over immediately upon leaving the company. What is the advantage of leaving a 401k with the employer?
    Apr 17 09:08 PM | Likes Like |Link to Comment
  • Unplanned Early Retirement, Part 1 - Strategy, Stability, And Moving Forward [View article]
    Good luck on your retirement, Kevin. You might not know it yet, but your employer did you a favor. I wasn't so lucky. I had to make that leap without a push, leaving relatives scratching their heads. It was the 2d best decision I ever made (behind quitting smoking) and fortunately it has worked out extremely well now for 17 years. Again, good luck.
    Apr 17 07:17 PM | 8 Likes Like |Link to Comment
  • My Top Company For Income And Capital Gains [View article]
    Profit...JNJ is a good company and I own some shares. But, the "company's return on investment is 63%" ? Not even close.
    Apr 17 06:58 PM | Likes Like |Link to Comment
  • My PepsiCo Valuation And Strategic Plan [View article]
    Brad...can you explain the growth rate for CAG that you used for your fair value calculation? It seem that the market disagrees with your assumptions.
    Apr 17 06:42 PM | Likes Like |Link to Comment
  • Lifetime Brands: A Mundane Company, With Exciting Profit Potential [View article]
    Helix...the trading dynamics of a special situation like JCP are not based on fundamentals, so comparing a company whose price is driven by fundamentals to a company not trading on fundamentals is not meaningful. You've ignored the possibility that JCP is overpriced and should trade lower and instead have suggested that JCP's price means that Lifetime is underpriced and should trade higher. Do you see the difference?
    Apr 17 10:00 AM | Likes Like |Link to Comment
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