Kirk W Posted April 16, 2020 Report Share Posted April 16, 2020 Since the new CARES act has suspended the RMD requirement for this year, do you plan to take advantage of that action, and if so, in what way? I have been reading various "authorities" on the subject and just wondered what those in the forums plan to do? Quote Good travelin !...............KirkFull-time 11+ years...... Now seasonal travelers.Kirk & Pam's Great RV Adventure Link to comment Share on other sites More sharing options...
ARGO Posted April 16, 2020 Report Share Posted April 16, 2020 Wife got RIF'd 12/31, so we're taking as little income as we can. No, I won't take RMD. Now we qualify for all the freebies that the greedy have been getting for years Quote You'd have to see the movie to understand.......... Link to comment Share on other sites More sharing options...
trailertraveler Posted April 16, 2020 Report Share Posted April 16, 2020 In addition to the one year deferral in the Cares Act, the Secure Act changed the age requirement for those that would turn 70.5 in 2020 to 72. Quote Link to comment Share on other sites More sharing options...
dewilso Posted April 16, 2020 Report Share Posted April 16, 2020 Damn, already took mine. Took it when the market was up. Quote Dave W. KE5GOH Stuck in the 70's --- In E. Texas Link to comment Share on other sites More sharing options...
Barbaraok Posted April 16, 2020 Report Share Posted April 16, 2020 So did we. And that's the best time to take it. Lower # of shares sold to satisfy the RMD. Plus, used it to make sure we had all expenditures for the coming year covered. Quote Barb & Dave O'Keeffe 2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID Blog: http://www.barbanddave.net SPK# 90761 FMCA #F337834 Link to comment Share on other sites More sharing options...
Sehc Posted April 17, 2020 Report Share Posted April 17, 2020 Plus. What happens to tax rates after we get past this crisis? The stimulus's will have drained the treasury. Quote Link to comment Share on other sites More sharing options...
Ray,IN Posted April 17, 2020 Report Share Posted April 17, 2020 I only withdrew the RMD up to now because there was no practical alternative. The exception is only this year though, then it's back to RMD directly into a savings acct.= lose money on the transfer. Quote 2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA IN 1SG retired;Good Sam Life member,FMCA ." And so, my fellow Americans: ask not what your country can do for you--ask what you can do for your country. John F. Kennedy 20 Jan 1961 Link to comment Share on other sites More sharing options...
Barbaraok Posted April 18, 2020 Report Share Posted April 18, 2020 Why don’t you take RMD and reinvest it into a similar, if not the same, mutual fund. At the very least into a money market fund. Quote Barb & Dave O'Keeffe 2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID Blog: http://www.barbanddave.net SPK# 90761 FMCA #F337834 Link to comment Share on other sites More sharing options...
edatlanta Posted April 18, 2020 Report Share Posted April 18, 2020 I'm going to sit this out and see how fast the market recovers. I have not taken my RMD this year and may or may not depending on what happens between now and the end of the year. I have approx half of my losses recovered on existing investments right now so I wasn't hurt too bad. I don't need the withdrawal so I'm sitting tight...... Quote Ed KM4STL2006 GMC 2500HD CCSB 4x4 Duramax/Allison, Titan 52 gallon fuel tank, Prodigy Controller, B&W Companion Hitch2010 Jayco Designer 35RLTS, RV Flex Armor Roof Link to comment Share on other sites More sharing options...
Barbaraok Posted April 18, 2020 Report Share Posted April 18, 2020 You didn't take any losses? I had one fund I wasn't that happy with, so we will have a loss next year and I used that money to payoff car since loan rate was now greater than what we were making off investments. Quote Barb & Dave O'Keeffe 2002 Alpine 36 MDDS (Figment II), 2018 Ford C-Max HYBRID Blog: http://www.barbanddave.net SPK# 90761 FMCA #F337834 Link to comment Share on other sites More sharing options...
Kirk W Posted April 18, 2020 Author Report Share Posted April 18, 2020 4 hours ago, edatlanta said: I'm going to sit this out and see how fast the market recovers. I have not taken my RMD this year and may or may not depending on what happens between now and the end of the year. I have approx half of my losses recovered on existing investments right now so I wasn't hurt too bad. I don't need the withdrawal so I'm sitting tight...... Me too. 😷 Quote Good travelin !...............KirkFull-time 11+ years...... Now seasonal travelers.Kirk & Pam's Great RV Adventure Link to comment Share on other sites More sharing options...
Ray,IN Posted April 19, 2020 Report Share Posted April 19, 2020 22 hours ago, Barbaraok said: Why don’t you take RMD and reinvest it into a similar, if not the same, mutual fund. At the very least into a money market fund. Thanks for the suggestion, I'll keep that in mind for next year. Quote 2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA IN 1SG retired;Good Sam Life member,FMCA ." And so, my fellow Americans: ask not what your country can do for you--ask what you can do for your country. John F. Kennedy 20 Jan 1961 Link to comment Share on other sites More sharing options...
RV_ Posted May 24, 2020 Report Share Posted May 24, 2020 i divested and then did a small investment in pot stocks that I expect to take a few years to give good yields. I am waiting with cash for the crash, then going into index funds with half and half in cash. I'll keep my small investments in stocks in ACB and NBEV for at least five more years barring another surprise like this pandemic. In that scenario timing the market perfectly is not required IMHO. I am opting out of gasoline and should take delivery of my Model Y in a couple of months or less. Good luck all! Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
rynosback Posted May 24, 2020 Report Share Posted May 24, 2020 21 hours ago, RV_ said: i divested and then did a small investment in pot stocks that I expect to take a few years to give good yields. I am waiting with cash for the crash, then going into index funds with half and half in cash. I'll keep my small investments in stocks in ACB and NBEV for at least five more years barring another surprise like this pandemic. In that scenario timing the market perfectly is not required IMHO. I am opting out of gasoline and should take delivery of my Model Y in a couple of months or less. Good luck all! I’m still on the sidelines with most of my cash. I put a little into a few stocks about a week after the dip. But I think there is another coming. There is NO reason that the market should be this high. I know the Fed has poured TRILLIONS into it, but that still does not change the fact that is it where is it. The NASDAQ has made a V recovery!! WHAT?? Quote 2015 Ram 3500 RC DRW CTD AISIN 410 rear 2016 Mobile Suites 38RSB3 Link to comment Share on other sites More sharing options...
RV_ Posted May 26, 2020 Report Share Posted May 26, 2020 My usual stash for cash in case of a crash was money market accounts to do a lot better than USAA savings accounts. (I'm alliterate! ) what bothers me about my money parking is that with trillions more federal debt, I expect the dollar to lose value eventually. You can lose big in money markets if the dollar loses value from 1:1. So I'm going to keep low six figures in cash but buy a Tesla, have a small 10X16 workshop built on my new Colorado property. In other words, starting next year, when I hope working vaccines are out, we'll travel, and start looking for a vacation home/retreat/final downsizing place for when one of us goes. While the Tesla is a depreciating asset, not by much historically. Risky times! Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
rynosback Posted May 26, 2020 Report Share Posted May 26, 2020 2 hours ago, RV_ said: My usual stash for cash in case of a crash was money market accounts to do a lot better than USAA savings accounts. (I'm alliterate! ) what bothers me about my money parking is that with trillions more federal debt, I expect the dollar to lose value eventually. You can lose big in money markets if the dollar loses value from 1:1. So I'm going to keep low six figures in cash but buy a Tesla, have a small 10X16 workshop built on my new Colorado property. In other words, starting next year, when I hope working vaccines are out, we'll travel, and start looking for a vacation home/retreat/final downsizing place for when one of us goes. While the Tesla is a depreciating asset, not by much historically. Risky times! I parked a bunch in a 1 year CD at 2.2%. Quote 2015 Ram 3500 RC DRW CTD AISIN 410 rear 2016 Mobile Suites 38RSB3 Link to comment Share on other sites More sharing options...
RV_ Posted May 26, 2020 Report Share Posted May 26, 2020 Where? Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
Kirk W Posted May 26, 2020 Author Report Share Posted May 26, 2020 5 hours ago, rynosback said: I parked a bunch in a 1 year CD at 2.2%. When we sold some property we put $100k+ into a "stepped" money market account. It is called that because the CD's each have a different maturity date, thus gradually returning to cash. We have reached an age where our funds are unlikely to need to last more than 25 years so have begun to spend down. Quote Good travelin !...............KirkFull-time 11+ years...... Now seasonal travelers.Kirk & Pam's Great RV Adventure Link to comment Share on other sites More sharing options...
ms60ocb Posted May 26, 2020 Report Share Posted May 26, 2020 I took about half in January. The other half would be a CD that expires this fall. The plan was to cash it in, then the market fell and the CARES Act has made me wonder. The plan is still cash in to full fill the RMD. My wife is also taking RMD . But we have 5-7 months to change our minds. Clay Good Lord only knows whether we will on Earth come 2021 Quote Clay & Marcie Too old to play in the snow Diesel pusher and previously 2 FW and small Class C Link to comment Share on other sites More sharing options...
rynosback Posted May 26, 2020 Report Share Posted May 26, 2020 12 hours ago, RV_ said: Where? This was back in March with Able bank. They were the highest out there at the time with no exclusions. Now it looks like they are .6% !! Quote 2015 Ram 3500 RC DRW CTD AISIN 410 rear 2016 Mobile Suites 38RSB3 Link to comment Share on other sites More sharing options...
RV_ Posted May 27, 2020 Report Share Posted May 27, 2020 See what I mean? Quote RV/Derekhttp://www.rvroadie.com Email on the bottom of my website page.Retired AF 1971-1998 When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius “Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire Link to comment Share on other sites More sharing options...
rynosback Posted May 28, 2020 Report Share Posted May 28, 2020 20 hours ago, RV_ said: See what I mean? See what I mean? Quote 2015 Ram 3500 RC DRW CTD AISIN 410 rear 2016 Mobile Suites 38RSB3 Link to comment Share on other sites More sharing options...
justRich Posted May 28, 2020 Report Share Posted May 28, 2020 My feeling is that the Wile E Coyote stock market has run off a cliff and is now temporarily suspended in mid air. The Fed can print money to inflate prices, (and to keep the stock market up) or so it seems. The .06% interest rate would indicate "deflation". If you remember the days of 10+% CD rates - that was inflation. Now, I'm not so sure. . . As for the RMD - I'm in a somewhat unique situation - and will not take the RMD this year on the chance that the market will ratchet up a little more. (Unique: an IRA inside a variable annuity that is tied to the stock market value with an annual "locked in" upside and no downside) Quote ~Rich Link to comment Share on other sites More sharing options...
sushidog Posted May 28, 2020 Report Share Posted May 28, 2020 I'm still riding the roller coaster. I rode it down and am riding it back up but still have a ways to go, as I'm heavily in the energy sector (about 1/3 of my portfolio 🙁). The indices are catching up, especially the NASDAQ, giving me hope. I still have about 2 years before I need to take some out, so I think I'll be OK. Who knows what will happen by then, but I think there's still opportunity there. No? Time will tell. Chip Quote Link to comment Share on other sites More sharing options...
Ray,IN Posted May 29, 2020 Report Share Posted May 29, 2020 (edited) sushidog, the POTUS, in late April predicted 12-14 years to complete- full recovery. I'm not as optimistic, 20 is my guess. Twelve years would make me 90, so I'm not gonna be around to see who is right.. IMO the stock market has no resemblance to reality. IMO the rich are going to get richer, middle/working-class will get poorer. The middle-class will have to sell to survive, the rich will buy; the gap widens. I may have to sacrifice life-style but I'm hanging on, so far. Edited May 29, 2020 by Ray,IN Quote 2000 Winnebago Ultimate Freedom USQ40JD, ISC 8.3 Cummins 350, Spartan MM Chassis. USA IN 1SG retired;Good Sam Life member,FMCA ." And so, my fellow Americans: ask not what your country can do for you--ask what you can do for your country. John F. Kennedy 20 Jan 1961 Link to comment Share on other sites More sharing options...
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