Silly thoughts on inheritance

 I was watching a video on nest eggs on how much income you would have in retirement if you had 4 million dollars and did a 5%, 4%, 3%, and 2% with draw.  The 2% withdraw was something like 80k a year.  

This got me thinking. If you did a 2% withdraw of you $4 million and you started at the normal retirement of 65 and lived until 95. You of of spend $2.4 million of that $4 million. Let just say you stick with a 60/40 split 60% stock and 40% bond with an avg 6% return. When you die you could have ... drum roll $13.8 million.   👀

OK now your dead and lets say your spouse was so broken hearted they died the same time. So you are 95 and lets say you had kids when you were 30.  So now your kids are 65 and about to retire and your grand kids are 35.  You leave your inheritance to your two kids. They both get $6.9Million.  That goes on top of whatever retirement they have saved which very well could be there own $4 million. Now I know 4 million is a lot of money for retirement and most will be happy if they get to a million, but it goes to show you that there is something to say for having to much.  In the scenario above one of two things should of happened either they should of retired earlier or took out a higher % in retirement. For many that is easier said then done.

It is sometime are to retire or spend more then you have ever done. You could be saving to donate to a cause you care about.  Everyone is different, but don't forget to enjoy the simple things before your time is up.  Get out; see thing and do things before you can.

Halloween good clean fun. Being safe

 We are not doing the tradition trick or treating.  We feel it isn't in our families or neighbors best interest this year. We did carve pumpkins and have Halloween costumes. We are going to have fun with the holiday just without all the people interactions.  

What we are doing and not only will it be safer, but also we don't have to buy tons of candy.

We will be setting up a haunted basement.  Using blankets we have around the house and tarps.  Having spook sounds and the traditional spaghetti worms and grape eyes.  We are also creating a whole bunch of decorations from balloons and streamers. Something fun that they will remember.  We are also doing to have the knock on the door and the wife and I will put on different costumes for them to "trick or treat".

The second part of the plan as been Harry Potter.  We have been reading then Harry Potter the Philosophers Stone. This is the illustrated version. They are really into the story and on Halloween we will watch the movie with them for the first time. 

Overall this wont be the traditional Halloween, but it should be one they can remember and enjoy.

End of year health plan selections

We never plan on getting sick, but like the election is coming.  Sometime it feels like all the time other times is sneaks up on you.  Now is the time to make your selection or forever hold your piece.  

 

                                                       

If you are one of the lucky ones where your family has a company that provides health care over the next could of week you will be making you health plan choice for the next 12 months.  

To make it simple unless you follow into one of these categories you should just pick a HDHP - High Deductible Health Plan.  The biggest reason if you can save tax free into a HSA - Health Savings Plan.  For the most part you will always come out ahead contained to the other plans.  This is important if you have the space to contribute to it. With the savings in the lower cost hopefully you can contribute some.  Remember HSA is great, but don't pass up on the free money of a 401k match.

Yard sales....everything must go

 Have you ever had a yard sale?   

I have never had my own.  I remember growing up we would have them or at least go in with neighbors and sell our old stuff there.  It was a time to meet neighbors and pass on old things.  As a kids it was also a treasure hunt for some unknown treasure.

 

Here we are pandemic and doing our best to lower our expenses and not live like a hermit.  My wife if very much against having a yard sale even if we didn't have the pandemic to worry about.  So my old solution is to sell online or donate.  

I've sold a couple of things in the past on ebay.  And Ipad when they were hard to get many years ago.  I think paypal/ebay made more money on it then I did.   This problem I'm trying to get around it one selling the items at a price the is fair and with all the fees taken out it is still good. Then trying to figure out how to ship the items.   This is easy for smaller items, but something big like a Stroller I have no clue.  My current solution is to pick up local, but I consider using bubble wrap and plastic rap.

 

Hopefully over the next month or so I can cleanup my basement from all the kids old things and have this all figured out with a healthy amount of cash to go along with it.