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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (5804)	5/24/2018 9:55:58 AM
From: Kirk ©	1 Recommendation Recommended By robert b furman Read Replies (2) \| Respond to of 26388

I disagree with all you wrote. Perhaps because I don't have kids where I feel some sort of duty to give them something after I die to make up for bad parenting that put them in a place they need the help. Make sure your mortgage is paid off or can be paid off with your cash when you die and that is a good inheritance for most. Even in low cost housing markets, the kids can rent out the house for regular income or sell it and use the funds to pay off or down their own mortgages. SS payments, if you've invested well, should be used as insurance against running out of portfolio assets to live on before you run out of life. 1) What guarantee do you have of living beyond the next few days. If I die now, who cares? I'll not have spent all I saved. 2) If you did die at about age 69 will your financial advisor pay your estate the missing funds? What missing funds? The SS payments are to pay property taxes and other bills that allow me to keep living where I live. After I die, I won't need to make these payments. 3) The best rule is take every government dollar as soon as possible. a) if you don't need it invest it b) put in a fund for your kids or grandkids c) donate it to a charity of your choice and get a immediate tax credit d) indulge yourself...time is running out. No. the best rule of thumb is do all you can to insure you don't run out of money before you run out of life force. 4) The government may change the SS rules and it will not be advantageous to those postponing benefits. They usually don't make changes to people already retired other than raise taxes on income from your investment portfolio and distributions from your IRAs, often with some sort of "means test." Thus, it is best to "reduce your means" by spending your IRAs that should have a large fixed income component ALREADY by age 62 that is earning far less than 8%. For a good part of the country, this could reduce the IRA to a very low level by age 70 when they get the max SS payout. Also, by reducing your IRAs that are taxed as ordinary income, it could put you in a lower tax bracket when you start paying taxes on your SS payments. 5) If you believe that SS is running out of funds.....best to get what you can now. No, vote out people who spend too much on things that hinder rather than help the economy grow. 6) If SS is ever privatized....you are the guaranteed loser Again, they won't change it if you are already retired and they'll do that for the young.