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02-12-2020, 05:57 PM | #3421 |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
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Posts: 46,069
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02-14-2020, 10:27 AM | #3422 |
Fish are scared of me
Join Date: Nov 2001
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I wish I'd jumped back in to IQ October 1.
Up 70% |
Posts: 40,778
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02-14-2020, 11:09 AM | #3423 |
2 Legit 2 Colquitt
Join Date: Sep 2010
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CGC KILLING it with earnings today. Still a good entry point, IMO.
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Posts: 4,752
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02-14-2020, 11:13 AM | #3424 |
Veteran
Join Date: Aug 2015
Location: Oak Harbor, WA
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Investing another 1/24th of the annual IRA limit today...
I know DCA is boring, but I'm not in a position to have all the fun of picking individual stocks like some of you. At least I'm putting SOMETHING away, right? |
Posts: 2,629
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02-14-2020, 11:18 AM | #3425 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
You are investing. |
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Posts: 57,710
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02-14-2020, 02:56 PM | #3426 | |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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Quote:
Everyone has their own way of doing it. |
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Posts: 52,338
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02-14-2020, 03:08 PM | #3427 |
Stroking to the SB Champs!
Join Date: Aug 2000
Location: Flatlands of Kansas
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There is no right or wrong answer, unless you ignore planning for your retirement until it's too late. Do what you can, when you can, and as often as you can.
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Posts: 39,852
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02-14-2020, 03:22 PM | #3428 | |
Spooky Action
Join Date: Dec 2003
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Quote:
Was tempted a couple of years ago to buy into Shopify at $60 though, it's $500+ this week. |
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Posts: 6,406
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02-14-2020, 03:28 PM | #3429 |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Occasionally I'll hear some truth that boggles my mind in its non-obvious brilliance, and I heard something about retirement savings the other day that I have to share.
One of the obstacles to retirement savings is the amount that's needed. If you don't have a high income, or if you start saving later, it can be easy to see the task as insurmountable. But what I heard was something I'd never thought of before. If you're behind on your savings, consider this as a motivator. It's really tempting to take early social security, or even full-age social security (at age 67 for most of us). But there's a huge benefit to waiting until you're 70 to take social security. If you take it at 70 instead of 62, the amount will be roughly 75 percent more for the rest of your life. So if you're behind on retirement savings or you can't save much, target being able to support yourself until age 70 without social security. Then when you take it you'll get a lot more money to support yourself later, with no extra cost. It represents a huge ROI on the savings you can build, and leverages your money to a massive extent. |
Posts: 142,670
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02-14-2020, 03:54 PM | #3430 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
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Quote:
Yeah, taking SS and working as late as possible is typically the best approach. However, getting on Medicare ASAP, even if you have to pay out of pocket, typically also pays. |
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Posts: 57,710
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02-14-2020, 03:54 PM | #3431 | |
The Seated Villain
Join Date: Apr 2007
Location: Seattle
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Quote:
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Posts: 10,689
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02-14-2020, 03:58 PM | #3432 |
Kind of a mod
Join Date: Aug 2005
Location: Donkey Land
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While those kinds of stories suck, the problem is that no one (except Clay) likes to talk about all of the pitfalls they avoided. I've been a follower of TSLA for years now, and it would have been pretty sweet to grab some of their stock back when it was around $150. But at the same time, I thought MoviePass was a great idea back in the day, and now they're bankrupt.
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Posts: 52,338
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02-14-2020, 03:58 PM | #3433 | |
Stroking to the SB Champs!
Join Date: Aug 2000
Location: Flatlands of Kansas
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Quote:
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Posts: 39,852
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02-14-2020, 04:08 PM | #3434 | |
Veteran
Join Date: Oct 2002
Location: Bismarck
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Quote:
I'm taking it as early as I can. Simply because I"m not sure how long past 70 I'm going to live. Another reason is when you factor in how long it will take you to make up the lost money from age 62-70, it's just not worth it to me to break even at 77. You can go to the Social Security website and review your earnings history and you can even get an estimate as to how much you can draw at what age. It's really good information to have, especially if you are within a few years of retirement. |
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Posts: 1,299
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02-14-2020, 04:11 PM | #3435 | |
NFL's #1 Ermines Fan
Join Date: Jul 2001
Location: My house
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Quote:
For people without savings, it's really tempting to take it as early as possible, but if you're in good health and have a long life expectancy, there's a huge benefit to waiting longer. Here are a couple of random articles about it: https://www.nasi.org/learn/socialsec...retirement-age https://www.fidelity.com/viewpoints/...security-at-62 These changes are independent of the amount you put in. So if you can live off savings until age 70, your social security payments will be 75 percent larger from that point on than if you took it at 62. |
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Posts: 142,670
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