u/MiserableCancel8749

For those who are between 59 1/2 and 65, do look into doing (some) Roth conversions within your IRA/401K accounts. If you don't, you may end up in a bind in the future. I did not do any Roth conversions--mostly because at the time they were not a big topic of discussion on the retirement planning sites I was watching, and they were not clearly explained.

Here's the thing that I have learned.

Roth conversions before age 59 1/2 have some serious considerations involving your ability to use the funds for 5 years. Not a huge issue, but it's there.

Roth conversions after age 65 run into the MAGI tax limits and can throw you into IRMAA medicare premium penalties.

So, the optimum time to do Roth Conversions is between age 59 1/2 and 65. Yes, you'll have an income tax hit in the years you do them, but having some Roth money available after age 65 will be really handy if you need to buy a car or want to take an expensive trip, or pay a big medical bill.

Ok, so the plan is to get out of debt and stay out of debt. Got it. I have a plan. Mortgage payoff (paying 3X of defined payment) in 29 months. No other debt. At that point, my credit score will start down.

And, from all indications and stories I read, my car insurance rates will start going up. Because they, too, are credit score based.

Is there anything you can do about that?

Did anyone else go to a grade school with a bathroom in the classroom? Where you literally did raise your hand with either 1 or 2 fingers to get permission to use it? And, the worst part, a dispenser on the wall with little squares of waxed paper to wipe with?

Another post prompted this musing on my part.

Jones men who shave.....

Blade or electric?

If Blade, cut throat, old fashioned safety, or modern cartridge?

Shave cream in a spray can or bowl/cup and brush?

Why?

Me: cup and brush (I actually use my Dad's cup. I bought a new brush a couple of years ago.). Cartridge type--but not a new one. Gillette Sensor handle that I bought a long time ago. It's getting difficult to get cartridges for it.

I recently purchased a used 1980's Mariner 9.9 with the tiller shift. Tiller shift is a new experience for me, and I'm getting used to it. Is there a way to tighten up the throttle handle so it doesn't 'creep' towards 'so slow it's going to stall' if I don't hold it tightly and constantly have to adjust it?

I find generally it's a great motor--and it does run slow enough to troll--but I'd really like to be able to troll without constant throttle adjustment--or dealing with stalling.

Also, I can't find anything in the manual that talks about what twisting the choke knob does. Is it mixture adjustment?

I understand the goal of getting to "Cash Only", and see it's value. The question is practical. In practice, how do you get there? Especially these days with doing online purchases on Amazon and the like, how do you NOT use a CC to pay for things? How do you pay cash to buy gas? That's just two examples. Use a Debit card instead?

In fact, there are starting to be 'in store' merchants who actively discourage the use of actual cash.

Edit: On other aspects, I'm right there with Dave. I am paying roughly 3X monthly on my mortgage, with 30 (large) payments to go. I haven't paid a dime in CC interest for years. Honestly, I don't care if I get cash back or not on a CC. Retirement funds are looking good.

First I had a 23 hybrid. Then I had an unpleasant encounter at an intersection. Now I have a 24 Lariat hybrid.

Last tank of gas: 49.6 mpg over a 3 week+ period. Mostly using Eco mode (unless I forget to switch it on). Driving on hills and curves in Maine and New Hampshire. Very little driving over 45 mph. I think the highest mileage I've seen on a single run was around 72 mpg.

With gas at $4.50 I love it!

Over the last week or so, the US markets took a crazy swing. The AI market did a major reset, causing the main indexes to drop a BUNCH. Breathless headlines about how all the 'gains so far this year' are gone. And so on.

By the end of day on Friday, things are 'close' to back to where they were before the hiccup.

Yes, I raised my eyebrows when it began. And then I sat back, adopted my combined Bogle-Buffet pose of "I haven't gained, or lost, anything because I'm not cashing out", and let it go.

Me, M/67, wife F/67 (her Bday is August, mine Sept). She is retiring as of next Friday. I retired June 1, 2024.

So far, so good. I highly recommend retirement! The money is working. The stock market is certainly helping matters--but I'm aware that it might turn ugly at any time.

Looking forward to her first summer in retirement. We don't have huge plans. We both agree that "getting to know each other again" is a goal. We've been married almost 47 years. We haven't been "just us" without major outside demands since 1981. So, the adjustment is coming fast.

"Life" details to sort out. Who cooks? Who cleans up? Who cleans the toilet? Just being together for most of the day, every day.

On the other hand, I've had 2 years to figure out my life, my routine. I'm good. She's looking forward to it. Her last week is coming. Clean out her office. Turn in her 'work phone' her "work laptop" her "work keys". It's good.

We have a plan--and a lot of it is about not having a plan. Taking each day as it comes. Adjustments will be made.

I've always operated on the idea that I shouldn't invest in things I don't understand. ETFs have been around now for a few years, and they are interesting--but can someone explain what their advantages and disadvantages are compared to basic mutual funds?

Are they really "better"? Why?

How many of us grew up in single car families? What were some memorable cars your family owned?

My family had a succession of Fords as I was growing up. Here are the ones that I remember:

'62 Ford Falcon Sedan, as I recall, it was robin egg blue.

https://preview.redd.it/0xgowch9eu4h1.png?width=195&format=png&auto=webp&s=189e6a42ab1606594256b1462b8b21abaca98f41

Then there was a 66 Falcon Wagon

https://preview.redd.it/xrdxcupjeu4h1.png?width=196&format=png&auto=webp&s=3c32723b3e7b0de34f9769b412d54499c518b906

After that, a 69 Ford Galaxie wagon, in Olive Drab

https://preview.redd.it/xfu7aq6weu4h1.png?width=189&format=png&auto=webp&s=acf5e792bfeb51dc56befb4c56f17d01d8900503

The years of Fords came to an end--then we had a Matador (What's a Matador?)

https://preview.redd.it/kueu6003fu4h1.png?width=204&format=png&auto=webp&s=a7112994161d00458019e67c0a664f8ef8dea551

I graduated HS in 76.

I am the 3rd generation owner of lakefront vacation property in Maine. My grandfather purchased (some) of the land in the 1930's for next to nothing. My father was an only child. When my parents passed, my brother didn't want it. I bought his share out to make the estate work in 2017.

Now, I'm 68, in decent health. My wife is also 68. We are both retired. For now, the money is working to keep the taxes and insurance paid, and we're able to do the work needed to keep it going.

We have 3 adult daughters, 1 grandson. Who knows if more grands are coming.

Our daughters all have some level of emotional attachment to the place. I have my doubts about whether they will be able to keep it when it becomes 'their turn'. I don't want to set up a future feud--which could easily happen when they try to split the costs and the use 3 ways.

Suggestions? Experience?

Oh, current assessed tax valuation is about $1.5M. Could probably sell today for $2M.

Edit: Note, it is only useable roughly Memorial Day to Labor day. No insulation, no central heat. If sold, it would become a tear-down with a new house built on the footprint.

I have a peculiar leak at my washing machine connection. The piping ends at a 'watts' double valve, and the cold water side has a minor but steady drip at the hose connection. I have replaced the hose. I have put in multiple new hose washers, and there is a drip coming up around the threads.

Is the next option to replace the valve assembly?

So I live in PA (M68/wife68), moved to PA 10 years ago. I recently learned that PA is one of the few states that has an Inheritance tax.

For those who are familiar with it...

Since my wife and I are PA residents, and likely will be until we die, what parts of the estate are taxable?

Do heirs who live out of PA have to pay them?

If a PA resident inherits from someone outside of PA, is that taxable?

Before you tell me to go to the PA govt website and look it up--these questions in particular are not asked in the FAQ

Did your grandmother wear a housecoat? Not quite a bathrobe.....

Ok, so I am retired and no longer in 'accumulation' mode, and have moved into 'spending' mode.

I looked up some information, and I'm surprised at something.

In 2017, I inherited an IRA from my mother, who died in June of 2017. It is invested exclusively in VIGAX, and has been since I set it up after transferring it into Vanguard.

When it was all settled, it had a balance of around $113K. Every year, I have withdrawn more than the RMD (RMD payments had to begin immediately, because it is an Inherited IRA).

Here's what surprising to me: In 9 years, from that initial $113K, I have withdrawn $127K. The current balance is $81K. Fortunately, I've had it long enough that the new '10 year' rule for an inherited IRA does not apply.

Even so, the thought hit me: It's HARD to spend down an investment account if it's invested well. It's even harder if you're trying to keep your annual taxes sane, and to avoid things like getting hit with IRMAA penalties.

Just an interesting observation, no more.

I've been retired for 2 years as of June 1. My wife has decided to pull the trigger as of the end of June, with her last day (using vacation for the rest) on June 12.

We've been talking about the 'next phase' and we're both looking forward to it. The money 'should' work, there are adjustments we'll need to figure out, but we've made adjustments before.

What struck me was this basic thought: we've been married 46 years, and it's been over 40 years since we've been together--except for 1 or 2 week vacations--all day, every day. I worked, she worked, we had kids (who have turned out great). Now, suddenly, we will be sharing the space in ways we haven't for many years.

Meal prep, personal space vs shared space, chores, all of it will need to be figured out.

Am I worrying too much?

How many of us grew up hearing "Use it up, wear it out, make it do, or do without"? Functional patches on our jeans, socks with worn heels got darned, what was on the table was what there was for dinner. If you didn't like it, there was PB in the cupboard.

More interesting: How many of us, today, still find ourselves living frugally because we know how? Or tried to raise our kids that way?

I've been a homeowner now for 40+ years, and am looking at the next big life change: Being away from home for more than a week at a time.

I know I've seen some discussions around this before, but I'll put it out again....What do you do, in 2026, to keep your main home secure if you're gone for the whole summer?

Here's my list:

1. Invest in a ring doorbell/porch camera--to keep an eye on things

2 Arrange for a lawnmower service

3. Before leaving, turn off the water at the main inlet to the house

Now the big question: What about the water heater? It's natural gas, so shutting it off involves dealing with the gas valves and gas control. And relighting the pilot on return (and risking having it not work) Or, do I just shut off the gas valve at the meter and call it a day? Or leave it be?

It's summer, so no issues with keeping the furnace on. AC will be off, but a dehumidifier will stay running in the basement.

I know it's been discussed before, but I'll ask anyway...

When leaving the main home for the summer (3 months or so), what do you do to keep it safe and secure?

I'm planning on turning the water off. Should I also shut off the gas water heater? Or even the gas supply at the meter?

I have an arrangement to have the grass mowed weekly.

Thinking about a ring doorbell/porch camera to keep an occasional eye on things.

Other ideas?