Stages of Preparation and Management Through Retirement: What One member has done/is doing.
Milwaukee Bogleheads meet every 2 months to share tips and ideas on DIY investing, using Index funds and being careful to plan for tax implications and avoid high expenses.
Meetings are open to the public -- find us on Facebook for details.
Independently-owned and operated-with-love, Plum Deluxe is the web's undisputed expert in life's little luxuries. On a daily basis, we publish handcrafted content for our quality-seeking readership, who share <strong>our mission to find all the little ways to celebrate today
A sensible and sustainable draw-down strategy in retirement by Tracy Jensen10X Investments
Tracy Jensen, Chief Product Actuary, 10X Investments presented at the 10X Retirement Conference 2014 on the topic A sensible and sustainable draw-down strategy in retirement.
Constructing a sensible pre-retirement plan by Fikile Shezi10X Investments
Fikile Shezi, Employee benefit consultant, 10X Investments presented at the 10X Retirement Conference 2014 on the topic Constructing a sensible pre-retirement plan
Independently-owned and operated-with-love, Plum Deluxe is the web's undisputed expert in life's little luxuries. On a daily basis, we publish handcrafted content for our quality-seeking readership, who share <strong>our mission to find all the little ways to celebrate today
A sensible and sustainable draw-down strategy in retirement by Tracy Jensen10X Investments
Tracy Jensen, Chief Product Actuary, 10X Investments presented at the 10X Retirement Conference 2014 on the topic A sensible and sustainable draw-down strategy in retirement.
Constructing a sensible pre-retirement plan by Fikile Shezi10X Investments
Fikile Shezi, Employee benefit consultant, 10X Investments presented at the 10X Retirement Conference 2014 on the topic Constructing a sensible pre-retirement plan
I have a big idea: What if we could design our life?
Just like we create maps for our cities, designs for our homes and plans for our gardens, why can’t we:
- Create maps for our goals
- Designs for our dreams
- Plans for our success
So, I decided to take the science of goals and the research about long-term happiness and turn it into a planner. Specifically the: Life Design Workbook. Take control of your goals, your happiness and your success.
While on my second year of being a full-time independent worker, I conducted a personal retrospective. This presentation sums up the results.
This talk was given at:
- Indieconf 2010 (Nov 13, 2010)
- RefreshNYC (Nov 30, 2010)
THE tool to empower you to have your best year ever...one month at a time!
In the space provided within this goals journal you will be guided with formulas that will help you with:
* Designing Your Best YEAR Ever!
* Designing Your Best MONTH Ever!
* Designing Your Best WEEK Ever!
* Designing Your Best DAY Ever!
The 4Ds vs. The 6Bs: Setting Expectations and Inspiring StudentsRotary International
A presentation and interactive discussion of models for managing student behavior, addressing problems, and setting clear expectations.
Ekkehard Musick
D1800, Germany
Personal Finance - Money Mindset and The Road to Financial Wellness by @Phroo...Jason Vitug
The seminar stress the importance of financial education in achieving life plans. It starts with financial awareness, creating a plan, taking control and seeking knowledge to ensure financial wellbeing and success.
Examines the money mindset, spending habits and examining the YOLO lifestyle.
I have a big idea: What if we could design our life?
Just like we create maps for our cities, designs for our homes and plans for our gardens, why can’t we:
- Create maps for our goals
- Designs for our dreams
- Plans for our success
So, I decided to take the science of goals and the research about long-term happiness and turn it into a planner. Specifically the: Life Design Workbook. Take control of your goals, your happiness and your success.
While on my second year of being a full-time independent worker, I conducted a personal retrospective. This presentation sums up the results.
This talk was given at:
- Indieconf 2010 (Nov 13, 2010)
- RefreshNYC (Nov 30, 2010)
THE tool to empower you to have your best year ever...one month at a time!
In the space provided within this goals journal you will be guided with formulas that will help you with:
* Designing Your Best YEAR Ever!
* Designing Your Best MONTH Ever!
* Designing Your Best WEEK Ever!
* Designing Your Best DAY Ever!
The 4Ds vs. The 6Bs: Setting Expectations and Inspiring StudentsRotary International
A presentation and interactive discussion of models for managing student behavior, addressing problems, and setting clear expectations.
Ekkehard Musick
D1800, Germany
Personal Finance - Money Mindset and The Road to Financial Wellness by @Phroo...Jason Vitug
The seminar stress the importance of financial education in achieving life plans. It starts with financial awareness, creating a plan, taking control and seeking knowledge to ensure financial wellbeing and success.
Examines the money mindset, spending habits and examining the YOLO lifestyle.
Bogleheads II for new investors in Milwaukee Wisconsin: Debt Reduction can be easier with a strategy to reduce the amount of interest and pay off debt efficiently.
Milwaukee Bogleheads I: Withdrawal Strategies from I-ORP.com Retirees or soon to retire investors need a spending plan in retirement, and this tool analyses several options for portfolio withdrawal.
What's Your Number? and How to know when you've "made it."Laura Ricci
Calculate what your number is for retirement. And find out why making "your number" predicts whether you'll have enough for retirement. Presented at Milwaukee Bogleheads meeting on May 2 2017.
Bogleheads follow the rule of Stay The Course, but it is a learned habit. This presentation shows why perspective is helpful and how to help you Stay The Course when markets are uncertain.
In a world where tenure is short, how do some create a career? This slideset is from a presentation to the Midwest Chapter of APMP, teaching a technique to market yourself internally and get buy-in from management for your ideas and work proposals.
The Magic of Winning Themes for Proposals by Laura Ricci
Retirement Preparation - Nov 2016
1. Streamline, Simplify, Document
• Laura Ricci
• Milwaukee Bogleheads
• November 1, 2016
Student Level Expertise Ages: 40’s to retirement
My steps to get ready for retirement:
2. Stages of Retirement
1. Early, Pre-retirement, ages 50 – 65
1. Figuring out when you can retire
2. Organizing the portfolio to begin draw downs
2. Starting retirement, ages 60 – 70
1. Social Security strategy
2. Are ROTH conversions needed?
3. Begin estate planning
3. Mid term retirement, ages 65 – 85+
1. How will you annuitize your portfolio?
2. Simplify financial management in all aspects
4. Late retirement, ages 75 – 100+
1. Just spending, not managing money
3. What I can offer
• I’m closing our first stage of Retirement, and in the midst
of the second stage, but being an over-achiever, I’m
starting to think about the third stage.
• Our actions fit somewhat with the stages, but the order
we tackle tasks vary.
• Take what you can use, and don’t assume any of this is
the absolute best way to do anything. “We don’t know
nuthin” as John Bogle would say.
4. Financial
• Convert to Boglehead Portfolio
o almost finished after 5 years of liquidating and consolidating
• Simplify to 2 investment firms
o 10% invested with another firm in case cyber attack makes one account
unavailable while an intrusion is repaired.
• Consolidate to one bank
o I had three banks when we started (two businesses and personal)
• Consolidate Credit Cards
o We had 6, so I picked the two best and put the others away. (Travel Hacking
ruined this though, so now I have 20 credit cards)
• Write Down and update my Investment Policy Statement
o Leaving bread crumbs so others know why I’ve done what I’ve done
5. Financial Cont.
• Finish ROTH conversions
o We will maximize tax planning per I-ORP and Fidelity RIP. This began almost 5
years ago and I plan to finish within 3 years from now.
• Social Security Strategy is set.
o One person takes at age 62, the other takes at 70
• Estate Planning is pretty well set.
o No trust needed. We’ll use the beneficiaries for each account to direct funds.
Charitable Fund has been opened to receive some estate upon death.
• Streamlining bills
o Hoping to travel enough that we manage all accounts online. Fewer accounts is
the goal.
• Starting to think about streamlining after age 70
o I like Bob’s idea of all-in-one accounts. I don’t plan on annuities for us because
they are too expensive.
6. Legal
• Update wills
• We aren’t using Trusts, so not much else to do here.
• Scan legal documents and put in the cloud
o Wills and letter of instructions
o Passports ✔
o Driver’s Licenses ✔
o Birth Certificates ✔
o Marriage License
7. Housing
• We downsized our home
o 3400 Sq.Ft. to 2100 sq. ft.
o and then 2100 to 1560 sq. ft.
• Jettison flotsam and jetsam every step along the way:
o Clean out duplicates by using up, donating or discarding – I found 5 bottles of
aspirin in various spots. We’d never use these up, so I gave most of it away and
am down to 1 bottle of aspirin.
o Quit buying massive quantities – Took awhile for us to admit we aren’t going to
be feeding a houseful of teenagers again!
o Use it or lose it:
• Clothing – not used w/in a year, donate to charity before the moths or styles
make it worthless.
• Kitchen – slowly moving out items I don’t use so someone else can use
them.
o Simplify: Sold my worm farm this week, gave away my pressure cooker.
8. Transportation
• Downsized from two+ to one car.
o I garaged my car over the winter and tried out other transportation:
• Zip Car – hourly rental cars
• Uber and Lyft – P2P taxi service
• Bus – some places the bus is the fastest and easiest way to get there.
o In Spring, I sold my car.
o Cost of owning a second car was $6500/year. Cost of using alternatives is
$3500/year. Nice!
9. Books
• We had 3 floor to ceiling bookcases.
o If the book is available as an ebook, and I still want it, I sell the book and buy the
ebook version.
o I keep out of print and books with inscriptions from author friends.
o Sell the rest on Amazon
• We are down to 2 bookcases
• The Goal is to get down to 1 bookcase, reduce clutter,
save money.
10. Newspapers and
Subscriptions
• Two years ago: 6+ magazines and 3 newspapers
• Now: 1 magazine, 2 newspapers, and 7 electronic
subscriptions.
• Next year: 1 newspaper, and all magazines and other
newspapers on electronic subscriptions.
• Goal is to reduce paper waste and clutter, save money.
As the resolution on computer screens improves, no
need for paper subscriptions.
11. What are you doing?
• What are you doing that I haven’t thought of yet?
12. Resources
• Bogleheads forum: Lots of discussion and instruction for
financial streamlining and retirement planning.
o http://www.bogleheads.org
• Can I Retire Yet?
o http://www.CanIRetireYet.com
13. Milwaukee Bogleheads®
• A DIY investment group, followers of John Bogle's Index
investing strategies, the Milwaukee local chapter of
Bogleheads.
• This presentation was made November 1, 2016 by Laura
Ricci of our chapter.
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14. Disclaimer
• All examples are for illustration purposes only and are
not investment recommendations.
• The views expressed in the presentation, are those of
the presenter, commenters, guests and participants and
may not reflect the views of the Bogleheads
organization.
• Use your discretion in using examples presented here
for your own investment purposes.
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