It was a warm day, but I was indoors all day, deciding where to go to fix my two flat tires. I finally decided on the local tire depot, which is nearby. I was on my iphone during the whole time because of the Social Media Blackout, and Facebook wasn’t working. I went on other sites, such as Linkedin, to talk about the Facebook Blackout with others. I noticed my Twitter still worked on my PC. I went on my Iphone, and my Instagram and WhatsApp worked. I chatted on WhatsApp and browsed on Instagram.
After a while I decided to get ready for the seminar, which is nearby anyway. I left at 4 pm, and when I arrived, I was 45 minutes early. So, I hung out and waited at the restaurant lobby, as other people invited for this retirement seminar arrived.
The restaurant, Ruth’s Chris Steakhouse, was very busy for dinnertime. It was next to Mother’s Market. I have never been to this restaurant because I don’t eat meat. The seminar was an interesting and entertaining summary about retirement planning. I ordered a vegetarian meal, which was very filling, and I couldn’t finish it. So, I asked for a little “doggie bag” box so I would finish it on Tuesday.
Besides water and ice tea, I also had bread and butter, Caesar Salad, creamy spinach dish, cooked tomato dish, and sweet potato casserole. There were also mashed potato, steam broccoli, and mushrooms to be shared by the people on my table. The dessert was good too, which was a creamy cheesecake, topped with berries and mint. It was tasty. The women on my table were trying to figure out what it is, and I thought it was some creamy custard.
During the seminar, I mostly asked about investments and taxes for income purposes. Many people asked about making high returns with no risks. Others asked about distribution planning as well as IRA and RA.
It is best to use Social Security during one’s 60s because Social Security benefits goes up 8%/year from age 66.
A Lump Sum can be passed on to one’s heirs but Pensions disappear when the person dies.
It is best to put together an Income Plan. Consider where to put your money in retirement. The income plan requirements depend on one’s lifestyle. But it is important to make sure the income plan has enough money to pay monthly bills, other monthly needs, and monthly income from social security, pensions, and annuity.
Over the years, the tax brackets have decreased.
Debt Today is $37,000,000,000,000.
At 72, do an RMD.
Roth RMD = 0 RMD because it involves taxes now, and tax-free later. In Roth, all the amount is included in taxes. It might help to get Life Insurance. With Roth RMD, the heirs get it tax-free.
Return on IRA = 4 to 5%
If you cash out on IRA, you have to pay taxes. If you use 10-year deferral, you also pay taxes.
Investments involves buying low and selling high.
Make note of ones accumulated assets, protect assets, and distribution assets.
People started leaving after eating dessert. I left at 7 pm with my doggie bag and notes. It was busy outside with some active nightlife. The LA Fitness gym across the street was still very active. There were other restaurants, apartment buildings and a Marriott. There was a Starbucks and some restaurants had outdoor eating areas. It seemed like a social place in the evenings for dining. I only go there for Mother’s Market grocery shopping.
I arrived home, changed my clothes and relaxed in front of my computer. I noticed Facebook was back to normal. All of the sudden, at 8:15pm, the thunder scared the shit out of me. Then, there was lightning and pouring rain. I checked on Gumby to see if he was OK because animals don’t like storms. He was just sitting on my boho cushions. I think the storm lasted for one hour. At least it started after I arrived home.