Re: XVP Re: [vpFREE] Retirement & its impact

 

Also keep in mind that they will deduct about $100 per month from your
SS check to pay for medicare. And you may want to add supplemental
insurance.

Nordo123@aol.com [vpFREE] wrote:

>I don't know what to do. I will be 59 in June. I'm leaning toward waiting until I get Medicare, maybe later. This way I can still gamble without a penalty. I am currently not married, hoping to get married soon. If I do get married I would let my wife decide for us.
>
>Sent from my iPhone
>
>
>
>

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Re: XVP Re: [vpFREE] Retirement & its impact

 

I don't know what to do. I will be 59 in June. I'm leaning toward waiting until I get Medicare, maybe later. This way I can still gamble without a penalty. I am currently not married, hoping to get married soon. If I do get married I would let my wife decide for us.

Sent from my iPhone

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XVP Re: [vpFREE] Retirement & its impact

 

Best choice that I made too. Retired at 61 and started SS at 62. A big
influence was that my Dad died at 66, my Mom will be 90 this year.
Since my wife didn't have 40 points to qualify for her SS she gets a
check for about 50% of my SS check.

loren barber kona623@aol.com [vpFREE] wrote:

>I am now 79 yrs old and started collecting at age 62 and do not regret it one bit. I have now lived 32 yrs longer that any other male in my family.
>
>
>Sure it's a gamble, but I like the bird in hand rule.
>
>
>
>-----Original Message-----
>From: jaycee5353@aol.com [vpFREE] <vpFREE@yahoogroups.com>
>To: vpFREE <vpFREE@yahoogroups.com>
>Sent: Sun, Feb 15, 2015 5:48 pm
>Subject: Re: [vpFREE] Re: Retirement & its impact
>
>
>
>On Feb 15, 2015, at 6:46 AM, bornloser1537@yahoo.com [vpFREE] <vpFREE@yahoogroups.com> wrote:
>
>
>
>>ery good advice (IMHO)!
>>
>>I concur. If at all possible, one should delay pulling SS until one is 70. Yes! Not all of your eggs in one basket. Diversify, diversify, diversify.
>>
>>ETF's and index fun
>>
>>
>
>I�m 73 now and the worst mistake I made was taking my SS at full retirement age 65 plus 7 months. My dad died at 73 and my mom lived to be 97. My wife had just died at 65 and did not collect a month of SS.
>I continued to work and did not need the money. A bird in the hand choice. Never able to earn that 8% on fixed cd�s and now they are down to under 2%. Wait if you can its a great bet.
>
>[Non-text portions of this message have been removed]
>
>
>
>

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Re: [vpFREE] Re: Retirement & its impact

 

Smart choice!

On Mon, Feb 16, 2015 at 1:31 PM, loren barber kona623@aol.com [vpFREE] <
vpFREE@yahoogroups.com> wrote:

>
>
> I am now 79 yrs old and started collecting at age 62 and do not regret it
> one bit. I have now lived 32 yrs longer that any other male in my family.
>
> Sure it's a gamble, but I like the bird in hand rule.
>
> -----Original Message-----
> From: jaycee5353@aol.com [vpFREE] <vpFREE@yahoogroups.com>
> To: vpFREE <vpFREE@yahoogroups.com>
> Sent: Sun, Feb 15, 2015 5:48 pm
> Subject: Re: [vpFREE] Re: Retirement & its impact
>
> On Feb 15, 2015, at 6:46 AM, bornloser1537@yahoo.com [vpFREE] <
> vpFREE@yahoogroups.com> wrote:
>
> > ery good advice (IMHO)!
> >
> > I concur. If at all possible, one should delay pulling SS until one is
> 70. Yes! Not all of your eggs in one basket. Diversify, diversify,
> diversify.
> >
> > ETF's and index fun
>
> I�m 73 now and the worst mistake I made was taking my SS at full
> retirement age 65 plus 7 months. My dad died at 73 and my mom lived to be
> 97. My wife had just died at 65 and did not collect a month of SS.
> I continued to work and did not need the money. A bird in the hand choice.
> Never able to earn that 8% on fixed cd�s and now they are down to under 2%.
> Wait if you can its a great bet.
>
> [Non-text portions of this message have been removed]
>
> ------------------------------------
>
> ------------------------------------
>
> vpFREE Links: http://www.west-point.org/users/usma1955/20228/V/Links.htm
>
> ------------------------------------
>
> Yahoo Groups Links
>
> [Non-text portions of this message have been removed]
>
>
>

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[vpFREE] crash!?try)!deep

 

On Monday, 2/17/2015 12:55:27 AM, informative gamblingjackt@yahoo.com wrote:
http://cceastford.org/hxeuttspj/

*************************************If you have not yet carefully crafted your opening elevator speech, now is the time to do so. You never know when you will run into someone with a job or internship lead. Now sure what to include? Learn more about writing your personal pitch.Irvin Surles

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Re: [vpFREE] Re: Retirement & its impact

 

I am now 79 yrs old and started collecting at age 62 and do not regret it one bit. I have now lived 32 yrs longer that any other male in my family.

Sure it's a gamble, but I like the bird in hand rule.

-----Original Message-----
From: jaycee5353@aol.com [vpFREE] <vpFREE@yahoogroups.com>
To: vpFREE <vpFREE@yahoogroups.com>
Sent: Sun, Feb 15, 2015 5:48 pm
Subject: Re: [vpFREE] Re: Retirement & its impact

On Feb 15, 2015, at 6:46 AM, bornloser1537@yahoo.com [vpFREE] <vpFREE@yahoogroups.com> wrote:

> ery good advice (IMHO)!
>
> I concur. If at all possible, one should delay pulling SS until one is 70. Yes! Not all of your eggs in one basket. Diversify, diversify, diversify.
>
> ETF's and index fun

I�m 73 now and the worst mistake I made was taking my SS at full retirement age 65 plus 7 months. My dad died at 73 and my mom lived to be 97. My wife had just died at 65 and did not collect a month of SS.
I continued to work and did not need the money. A bird in the hand choice. Never able to earn that 8% on fixed cd�s and now they are down to under 2%. Wait if you can its a great bet.

[Non-text portions of this message have been removed]

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vpFREE Links: http://www.west-point.org/users/usma1955/20228/V/Links.htm

------------------------------------

Yahoo Groups Links

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RE: revision?...[vpFREE] Re: Retirement & its impact

My philosophy is to start collecting immediately at age 62. Why wait when you could be dead tomorrow. My father passed at age 62.5 after his third heart attack.
I'm 53 and plan on moving to Vegas soon as a newly single person. I'm planning on working part-time and to use those funds to supplement my gambling bankroll.
As a bridge to social security I'm setting up a small portion of my investments with Fidelity income replacement fund 2026 good for 12 years at 10% dividends per year and some closed ended mutual funds from Cornerstone. As those investments diminish, I'll then be at the age to start collecting social security.


James Thompson
Former HRH Casino Monitor















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[vpFREE] Re: S.C.O.R.E for video poker

 

Personally, you can get more or less the same benefits as S.C.O.R.E. with the following system for rating any gamble/investment:

1. Do you think you have an edge? You need an edge if you expect to win in the long term.

2. Do you think you have the bankroll? I'd recommend a bankroll always greater than the betsize times the variance divided by the edge, which is the approximate Kelly optimal. If you want you can solve for the exact Kelly optimal using a spreadsheet, for FPDW it is 2925 times the betsize. The advantage of using the estimate (variance/edge) is that it can be calculated on the fly in your head as long as you think you know the variance and edge.

3. Do you think you have the time? You need to be able to play over Nzero (variance/edge/edge) hands in the current tax year. Nzero is the point where the edge equals one standard deviation. Less than Nzero is clearly still short term.

If you can answer a firm yes to all of these questions, you have a play. If you have a choice of several plays, you need to rank them somehow, the typical way to rank plays would be by dollars/hour of ev. Another way to rank would be by the Sharpe Ratio which is ev/sd or ev/sqrt(variance).

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[vpFREE] Re: [harrahscasinos] Offer cutbacks?

 

Yeah..


Doesn't seem to have sunk in on many members of VP groups !!


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revision?...[vpFREE] Re: Retirement & its impact

 

Sent just to JT (not to all).

If you use your logic for taking social security (early) and you still continue working, your social security is 85% taxable, so you will lose some 30% (depending upon your tax bracket) of it to Uncle Sam when you file your tax return each year…making your analysis conclusion, that in every situation, you should wait until you are required to begin taking your social security benefit, which is age 70, and then seriously consider stopping your earnings flow from working.

Do you agree? Is my argument accurate?

DTH

From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com]
Sent: Sunday, February 15, 2015 11:07 PM
To: vpFREE@yahoogroups.com
Subject: Re: [vpFREE] Re: Retirement & its impact

You don't make an 8% return if you wait a year or a 32% return if you wait four years. You do make 8% more the year you do start taking it beyond standard retirement age and every year after that until age 70, but that is not an additional 8% return. Here's why: you are forgoing one to four years of payments entirely when you postpone one to four years

If you retire on time say at 66, and you're entitled to $25,000 per year, when you are 80 you would get $25,000 x 14 years = $350,000. If you wait one year you will get 8% more or $27,000 per year. When you are 80, however, you will only get 13 years (because you gave up the first year entirely) at $27,000 = $351,000. So it takes 14 years just to get back to essentially even by postponing one year or to age 80 before there is any benefit or added return.

Again, if you retire on time say at 66, and you're entitled to $25,000 per year, when you are 80 again you would get $25,000 x 14 years = $350,000. If you wait four years until you are 70 you will get 8% more per year or $33,000 per year. When you are 80, however, you will only get 10 years of payments (because you gave up the first four years entirely) at $33,000 = $330,000. So it will take more than 14 years just to get even. In the 4 year postponement scenario it works out to almost 17 years just to break even or to age 83 before there is any added benefit or added return beyond just break even.

I'm not saying don't postpone, but by no means are you getting an 8% return per year by waiting. Giving up $100,000 in the first four years to get $8,000 per year more after year fours may not be a good deal. In fact, it would be no benefit for those that die around age 83, a negative total return for those that die before age 83, and a positive return only for those that die after age 83.

These simple break even analyses do not consider that present dollars are more valuable than future dollars and conversely that future dollars are worth less than present dollars, which would make postponing even less attractive. Also this does not consider any inflation adjustments you will get on your payments in any scenarios. Also this does not consider spousal benefits, which complicate things even further.

So your life expectancy and your spouses eligibility and life expectancy (assuming you have a spouse) must be factored in and that could make it more complicated than the two simple scenarios above.

ST

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[vpFREE] Re: Want to get 86'd?

 

You have just described the "Prisoner's Dilemma" Failure to understand this concept and act accordingly
will probably lead to the end of civilization as we know it.
It already explains the vast human suffering that still
exists on this planet.

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Re: [vpFREE] Re: Retirement & its impact

 

Well written, analyzed and accurate advice Sir/Madam.


In a message dated 2/16/2015 3:01:58 A.M. Pacific Standard Time,
vpFREE@yahoogroups.com writes:

Although lots of things do factor in, taking the money as quickly as
possible is almost always going to be correct, especially if you have assets.
The only
exception is the situation where you continue to work and earn a good
living
such that your SS benefit, if taken, would be very small.

1. With some variation based on individual circumstances, the "break even"
point is roughly 78 yrs of age. And frankly, a lot of us won't even make
it
that far, let alone start to see the upside of waiting.
2. The reason assets matter is really very simple... The government is
going to

be looking for ways to reduce benefits. People who are deemed wealthy
enough to not NEED the money will be robbed first. The notion that you put
money in and will get it out is a fairy tale. SS is a Ponzi scheme and
your money
(and mine) is LONG GONE. If we are very lucky, we might get some back
3. Item 2 is a best case scenario. The SS system is NOT fiscally viable.
Anyone
who waits is assuming the system will be as advertised. There is a word
for such
people.... morons. This argument dominates all the other factors.
4. If money is at all tight, I'd keep working and postpone benefits. This
assumes
your current income would greatly reduce your benefits.

QZ

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Re: [vpFREE] Re: Retirement & its impact

 

Although lots of things do factor in, taking the money as quickly as possible is almost always going to be correct, especially if you have assets. The only
exception is the situation where you continue to work and earn a good living
such that your SS benefit, if taken, would be very small.


1. With some variation based on individual circumstances, the "break even"
point is roughly 78 yrs of age. And frankly, a lot of us won't even make it
that far, let alone start to see the upside of waiting.
2. The reason assets matter is really very simple... The government is going to

be looking for ways to reduce benefits. People who are deemed wealthy
enough to not NEED the money will be robbed first. The notion that you put
money in and will get it out is a fairy tale. SS is a Ponzi scheme and your money
(and mine) is LONG GONE. If we are very lucky, we might get some back
3. Item 2 is a best case scenario. The SS system is NOT fiscally viable. Anyone
who waits is assuming the system will be as advertised. There is a word for such
people.... morons. This argument dominates all the other factors.
4. If money is at all tight, I'd keep working and postpone benefits. This assumes
your current income would greatly reduce your benefits.


QZ

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