Hopefully the day before it's your wife can get that company insurance.....I will probably get hit by a bus The day I retire
Time to bump up that 401k
Up In Smoke
Well-Known Member
Our pension has a 60 month guarantee payout.
Well that's something
Up In Smoke
Well-Known Member
We had a guy retire and pass away within a couple months and his brother claimed the remainder of his pension. No other living heirs.
If I was single I would not be concerned but I'm more concerned about the well being of my wife.
Over70irregs
Well-Known Member
The survivor benefit from what I hear is definitely a financial hit.
beatupbrown
Well-Known Member
There is I just put in a few bucks in it's called a "I -Bond" you can put in 10k per calendar year .It's a 30 year bond BUT you can with draw after one year you lose the last three months of interest current rate is 9.65% November will bump up to over 12% .
I bonds — TreasuryDirect
www.treasurydirect.gov
I maxed out I Bonds last year and this year, and probably will next year as well. 12% in November eh? Anything's possible but I think that's unlikely.There is I just put in a few bucks in it's called a "I -Bond" you can put in 10k per calendar year .It's a 30 year bond BUT you can with draw after one year you lose the last three months of interest current rate is 9.65% November will bump up to over 12% .
I bonds — TreasuryDirect
You can also get $10,000 a year for your wife and if you get it income tax return you can buy up to additional $5,000 but they are paper bonds
You can also create 2 trusts, one for you and one for your wife, and contribute another 10k to each trust which gets you to 40k/year total. 45k if you get the paper bonds from your tax return.
But trust aren't cheap to set up and I really don't think the amount of money to make off of I bonds with justify the cost of the trust.
There are plenty of other good reasons to set up a trust, the ability to buy more I Bonds might just be icing on the cake. And they're not expensive in the grand scheme of things, you can probably find a lawyer to do it for 2k which is what, a week's pay?
I'm not saying there's anything wrong with the trust what if you are doing it just to put I bonds in it it would not be cost effective.
Thebrownblob
Well-Known Member
Trusts can be beneficial but they can also be a headache my grandparents both had a trust It was so complicated we had to hire a lawyer, of course they lived in California so that complicated things even more.
state with rules meant to steal your money as much as possible.Not sure I agree with you on that. I know folks who have set up trusts specifically to buy more Bonds. The setup fee is a one-time cost, and if you max it out for 10 years you'll have over 100k in there earning interest.
Well the i bonds are not going to pay this current rate forever.
Some of my older bonds that I bought less than three or four years ago was paying under 2% when they was issued.
This is my retirement slush on money that's the only reason I have a treasury direct account.
I get above bank rate interest rates on my iPhone treasury bills and t notes Plus tax advantage if the state cannot tax you on those.
Like I said before trust can be a good thing if there's the right amount of money you're putting into it.Trusts can be beneficial but they can also be a headache my grandparents both had a trust It was so complicated we had to hire a lawyer, of course they lived in California so that complicated things even more.
I'm getting older I want things to be simpler not more complicated
oldngray
nowhere special
If you don't have a big estate with a lot of complicated investments I don't think you need to mess with a trust. There are special situations where they are better but probably don't apply to most people.
Everyone situation is different but I definitely do not have a multi-million dollar estate.
Over70irregs
Well-Known Member
If they keep printing (they will) you will get there soon enough.
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