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VIKINGS NEWS – One week until training camp starts, and we get the HAWT TAEKES about Murray and JJ and Wentz and can argue about who the starting QB should be. Do not really care, as long as they can help the team win games. Rooting for JJ to not suck, since a 10th overall pick will not happen for awhile.
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VP. Can understand the difficulties regarding picking SS options. Went thru it a few years and will try to pass along the information a finance guy told me that helped. Now, I’m not real good at this, but hope it’s understandable enough to help some.
First of all the government is indifferent whether you take the money at 62, 65 or 70. It is acturally (SP) and financially exactly the same to them. They use a financial formula I believe is called a sinking fund factor – years to expected death at their iinteral rate of return ( interest rate and that number is important – later). In sort, the exact same pile of money will be able to make any of the payment schemes simply because money earns interest over time.
As far as living longer. Yes, but here’s the kicker, no matter if you start draw ing at 62, 65 or 70, if you live longer than your death age in the table, you “beat” the model so to speak. Conversely, if you die early, financially they win in every scenario.
But, as explained to me, the key or a key is the government’s used rare of return for their calculation. In short, if you can invest the money better, take the money early. For example say the government uses 3.5 %. I can retire at 65 and get 2500 versus 3000 at 70. If I can invest money at say 5.5% for 5 years the money made will more than cover the higher payout amount at 70.
Now, of course there are other issues – like does one need the money and when.
And one other issue, that gave me pause. Social Security is not acturally sound and is going broke. It needs to be fixed and I didn’t trust our politicians to fix it or what they might do. So, I was like take as much as I can while it’s still there – that may not be rational but it was in my mind.
This is pretty raged but hope it helps a little.
It is all a crapshoot. No one can predict the time of their death (unless they cause it of course). I took SS early since I figured I would rather be in charge and in possession of my money than the government.
Will it cost me a few $$ in the long run, maybe, but maybe not as well.
Will not cost you a dime more by taking it early.
What is a crapshoot is for people who may be bad investors. If they take the money early and make poor investments, not good. By bad I mean not only do they not good a good return, but they actually lose principle.
Haven’t talked in a while, hope all is well with you and wife.
All is good here, thank you for asking.
2 weeks off visiting relatives, then back worn out and caught a bug that left us with low grade fever, headaches, lethargic, and a cough for The Teacher.
We have been easing back into the gym 2X a week and are finally feeling back to normal, for certain values of ‘normal’.
Hope all is well with you and yours.
If your plan is to take it early, and invest, you may be leaving a boatload of $$$ on the table
Thanks JR. That is something I’ve been playing with also. Taking it early and investing a chunk of it. In one scenario I’ve played with, with just investing a portion of it I could move the tipping point up to my late 80s or even early nineties. If I could do that then it would make sense to take it early. Of course there is always risk when you invest.
One clarification – every year you wait to take SS you get 8% more. Not many guarenteed 8% returns out there
The ESPN layoffs took out Tom Peliserro
Pelissero’s Response
Following the announcement, Pelissero shared a classy farewell message on X (formerly Twitter), thanking his family, viewers, and colleagues for their support over his nine-year tenure: [1, 2, 3]
Back when he was on 1500 ESPN and essentially doing videos by himself I used to occasionally email him about the Vikings.
He was kind enough to reply on occasion
Just back from the Gym, reading all of the SS takes about when to start the payments.
I am surprised that no one brought up SS Solvency. The longer you wait to take the payments the less likely it is that there will be money in SS for you to make it to the ‘break even’ point.
Yep.
A fair point, and i used to worry about it. But 75 million Americans get SS. Congress has to get it fixed, or they piss off a hell of a lot of registered voters
VP…..
It all depends on what you want.
I told my boss I’m looking to be done at the end of the year.
Im taking SS in January.
I will be 65 in February.
Im taking what’s mine while I can and figure it out as I go. Im not planning on taking any retirement money out the first two years.
I have a pension as well.
But it is fascinating and not easy to figure this stuff out. I’m a CPA.
I’m testing scenarios where we don’t take any retirement money out until my wife retires (she is almost 6 years younger than me). She expects to retire in 6 years.
It is fascinating.
My wife is 9 years younger than me.
I actually waited a few years to close that timeline.
She will retire in 5 years.
Dont forget to take into account future RMDs
I thought retirement was supposed to be easy. I’m down to 6 weeks and I still haven’t decided how I want to manage things financially. I have about a dozen scenarios/budgets for when I should take social security and when I should start pulling money from which fund, etc. I’m also going to still be working at my accounting job 1 day a week and that plays into all the scenarios as to how long I want to continue to do that. Some days I want to keep doing that for 2 or 3 years and other days I want to just say sayonara. My poor wife hates talking finance, but when we went on a walk last night, I barraged her with all of my thoughts. She basically said to just wait and see how it unfolds and to talk to my financial advisors.
The whole when to start taking social security is a hotly debated topic in the financial word. It seems like the old guys all say wait but the younger guys say don’t wait.
And I want to start doing some Roth conversions, which is another piece of the puzzle.
It is somewhat exhausting, but because of my accounting background, I also find it fun and fascinating.
As an accountant, I’m frankly surprised you didn’t do your Roth conversions long long ago. I did conversions back at the turn of the century when I was making zip as a ms…and then once I figured out the back door I bit the bullet and did all of my traditionals about ten years ago.
As for ss, the answer is take it at 65. It takes years to make up the difference and you have no idea how long you will live.
Conversions come with a cost, and the proverbial “It Depends” part of the calculation make it a no-go for me.
Very late to the 401k party, and made stupid decisions when I was younger.
So now I just max out 401k make up contributions, and the longer I work, the better off we will be. Could retire in 6-7 years, so SS at 70 is for me. Probably work a few more years after starting SS just to pay for the condo in FL I want.
Well, I’m sure you have a good idea of my marginal tax bracket and what I had to pay in ordinary state and federal income taxes. It hurt. But I should mention these were traditional IRAs for my wife and I that I funded from my moonlighting income (cuz we contributed not a cent while I was in ms putting us behind in the whole wealth category), so they had only grown for about ten years, and my timeline to retirement was still out about 18 years when I did the conversion. Again, it stung, but the long term benefits of that conversion were worth it.
Financial class we took during ms emphasized contribute max to 403(b), 457(b), IRAs once done with postgrad training…that is all.
Yep.
For our situation, and my age, starting a Roth now makes zero sense for me, and waiting until 70 to collect the max SS does make sense, since I will also still be working.
I will be fine, and thankfully I am good at my job. I expect 10 years will go by quickly.
I also expect to not touch the 401K until 75. Should be fine.
A good place to be! You chose wisely….
The bteak even point for SS is around 82-83 years of age. If you are in good health, have a history of family living into their 80s, and you have a eay to afford life with other asseta, you should wait until 70 to take it. Waiting to take SS from 65 until 70 results in 50% more SS for the test of your life
That’s the big “what if”. We have no idea how long we will live, even with family history. I had a neighbor that retired at 62 in good health. On the very first day of his retirement, he was in a car accident and died.
Exactly, use the money to do the things you want now when you are in good health. The SS administration LOVES the people that defer until 70. Half of them will croak long before they make it to the break even point.
And half the people taking early croak as well. The math is set up to be totally unbiased based on when you start, at least over the whole population.
Dont ya hate having a statistician on the site?
For me, the stats say wait. I’m waffling because there is more to life than stats. At 80, I doubt I will be out hiking in the mountains or swimming in the ocean. I will probably be in my recliner watching reruns. One is more expensive than the other.
It is a tough, but personal, decision
I’m already in my recliner watching reruns
Same
Bingo.
I hate the general “ wait to take SS”.
They are telling you this to keep it solvent.
Take it when you want it and enjoy your sunset years.
Thumbs down? I’m baffled. It’s a story in a complex financial decision.
Maybe someone wants to give you street cred.
Freezey must be around.
True, there are no guarentees, but there are probabilities. A 65 year old man in US, has a 50% chance of living to 84. A 60 year old had a 50% chance of living to 81. If you do make it to 80, you have that 50% chance of making it to 87.
The SS decision also should take into account your spouse their age, and their SS status.
Me, i aint kicking the bucket until Vikes win a Super Bowl. Due to that thinking, i am waiting until 70 to start collecting because it could be a 30-40 year wait…..
You will live to be about 150 if you are waiting for the Vikes to win a Super Bowl.
Good thing i am waiting on tbe SS then!
Wow.
Was talking with a co worker yesterday about this and he said his dad filed the SS paperwork and passed before he got his SS.
You never know when the LORD calls you home.
Do what’s best for you.
The good Lord made sure he did not have to worry about SS.
I personally only worry about my wife and grand child. Our kids can figure it out themselves, we had to
Yeah, you’re going to be jetsetting and rocking the pickleball court at 83. I see a lot of 83 year olds and believe me they aren’t all like, woohoo I am raking in the big bucks from SS.
That is another big point. As some people say, $1 is worth more to me at 62 than at 80. At 62 you can spend the $1 doing fun, challenging, interesting things. At 80 it is more difficult to do as much.
If you follow the math, if you live long enough, the numbers show you will make more if you wait. I probably shouldn’t say this as an accountant, but people aren’t spreadsheets.
I have my own personal opinion (which I am still waffling over), but I’m not advocation one over the other. Each person needs to decide what is important to them.
Absolutely spot on advice.
My wife and i were savers. So we can afford to wait until 70.
I do golf every friday with a guy who is 96. Then we grab beer and burgers. I know he is the exception, but i want to live as long as i can, as long as i am active and doing stuff
My stats show me living until 90. I’m not sure that will be true because I’m not a super active guy and I have a feeling that as I age, I will become more inactive, which is not a good thing. My plan is to start walking more. Hopefully that helps.
I probably should have started doing Roth conversions earlier. As my earned income dips, we should be in a favorable bracket to start doing some.
All my stuff has been converted to ROTHs with the exception of my current 401k.
I will probably convert that after I retire and probably in a lower tax bracket.
I turn 63 next month and plan on 10 more years.
I am probably just going to die while working at my desk, raging about an off-shore contractor effing up production again by using untested AI code (yes, this happened this week) ….
73 years? Woof. I used to say I would work until 70, but am really rethinking that. But 73 is next level (although I know HC providers working in their late 80’s if you can imagine).
Dad worked full time as a meatcutter until 80.
73 is easy for a guy sitting at a computer all day. I just need to keep the exercise up and food/beer intake down.
While I probably could work longer, I don’t want to and fortunately, we are in a good enough position that I don’t have to. I will spend a good chunk of my time working on my bookstore as my side gig, however. It isn’t really work when you enjoy it.
That’s what I say about my side gig as a porn star.
Ron, is that you?
Did I mention that I am the bottom/receiver?
Ewwwww……
I feel like at least half the AI code out there is untested.
I think more than 1/2, but yeah. human eyes and brains will be needed for a long time
I plan on staying in my current job until 72 then finding part time work (1-2 days a week)
we’re maxing out 401ks now and have an investment account
we’ve also made the move to pay our house off (that we purchased four years ago)
Good Grief
”McNutt”
LOL….
I didn’t even notice her last name.
Perfect!!
Click Bait for Doomers.
This averages to a 9-8 season.
Checks out.
Nick smoking that good kush apparently
Well since we know ‘experts’ are full of shit.
And none of the ‘experts’ picked 10 wins.
I think I will go with that.
What are your top 5 incredible moments in Vikings history?
I also liked Kyle Rudolphs Td catch againt NO in the wild card playoffs. I think it was in OT
I’ll go in a different direction, in no particular order
AP 2012 season
2009 Favre pass to beat the 9ers
Bradford 2017 game against the Saints
Bud Grant walking out in short sleeves for the 2015 playoff game against the Seahawks
Stadium bill passes
Favre pass to beat the 9ers, I missed it because I was pissed at how bad the Vikings were playing. I said to hell with this and went and sit in my deer stand. Came home a few hours later, sit down for supper and my son said the Vikings won. I told him to stop joking around, and he said no they won. I had to look it up to see the final drive to win it.
I missed most of the 98 and 09 seasons for various reasons
hitting the deer camp is always a good choice
LOL. I had something similar with the 1997 wildcard game vs the Giants. When we punted, down by 6 with only a few minutes left, I headed outside to do anything other than watch them lose.
Suddenly Dad yelled “GET IN HERE….YOU WON’T BELIEVE THIS”
Got back inside after Reed’s TD catch, but got to see them recover the onside kick and pull it off with Eddie Murray’s FG.
I rarely watch games with other people, but we were invited to go watch the game at a friends house with a few others invited. We all decided to have bloody marys at halftime. Then we started to play like ass, so we went back to drinking our typical beers. The last five minutes of real time to end that game was such a roller coaster ride.
We score to take the lead everyone is hooting and hollering. The saints score to take the lead back, with little to no time left on the clock. The only one in the room that didn’t have there faces buried in their hands was a Lions fan. We are all booing butthole face for doing the Skol chant mocking the fans. Then the miracle happened, most of us were in tears from exhaustion watching the last 2-3 minutes of the game.
I still think the DB should have waited and pushed Diggs out of bounds forcing the Vikings to kick a field goal. Knowing our track record, we would have lost the game.
I’m thinking the Saints are as cursed as the Vikings.
Living in DE, there are not enough Vikings fans to have a party.
But my next door neighbor was a Vikings fan, oddly enough.
Anyway, I watched the game by myself, as my family are not fans, and was jumping up and down for a couple of hours at least.
My wife told me to tone it down a few times.
Happy Thorsday,
Skol
FTP
It’s Thorsday!!!
So since I lost my job, and I am not yet Medicare age, I had to go out on the marketplace and get Health Insurance on the Obamacare Marketplace. It costs me 770 dollars a month with a 10,000 dollar deductible. Sure am glad Obamacare made health care afforadable.
We just need to throw more money at it to fix it and keep it solvent.
Thats cuz you rich. Pay your fair share to socialism, you capitalist!
Now that my wife is going to be a full time teacher we were going over some of her insurance options yesterday and all I can say is no wonder the schools don’t have any money and my taxes are so high.
PS I didn’t know you lost your job. That sucks. For real. Sorry to hear that.
Go to Canada and get free healthcare.
It’s so much better north of the border.
It’s funny you say that, in theory I could do just that tomorrow if I so desired and there ain’t no fudging way.
The Vikings historically do well when the experts claim doom.
I really am anticipating the NFC N to be a slug fest with all teams between 7-10 wins, and 10 winning the division. I haven’t really looked at schedules besides ours but none of the teams are “dominant” in any category on paper that I can see.
Yep.
Schedules are the same except for 3 games.
I anticipate 10 wins as the divisional winner as well.
Yes, this is a good thing.
What’s Irv Smith Jr up to these days????
Is that a make a wish kid throwing to him there? If not, why are they letting a child on the football field?
10 years old.
Time flies, I remember that first packers game in there and Bradford shocked us all. Was very fun to watch with my buddies. 10 years later, all of them are married with kids now and were rarely watch together anymore.
But how many birds has it killed?
Probably less than the number of birds killed by windmills.
That doesn’t fit the narrative.
Top 5 Vikings let downs:
That’s a very good list.
1998 would also be my #1.
2 – 5 would be the four Super Bowl losses.
I almost forgot 1976, the Drew Pearson push off. That Vikings team was very strong. Their best chance at a SB victory in the 70s.
agree, but I do not blame the team for that. I blame the officials
I felt the same way, that is why it is not on my list.
I think that is a perfect list, and while I was only 5 for that exhibition / Super Bowl, I do remember all the swearing in the room while it was on.
To be fair to Bud, he always treated NFL as a game, and the VIkings had just won the NFL Championship.
Didn’t Morten Anderson kick the game winning field goal to take his team to the SB?
Good catch. It was Gary Anderson, not Morten.
Yep, I don’t know why I always get those two confused. I guess I should not trust my memory.
(#2 the FG would have won the game) – he could have run that bootleg down the right sideline for 10 yards or so.
Ergo the game went to OT, booth review x2 on gains potentially short of the first down marker, phantom PI…aaugh.
Did you see his leg after the game? He wasn’t running anywhere, probably why he tried to force the ball downfield.
I’m not saying he would run a 4 sec 40 yard there but IIRC there was one DB on the sideline covering an out route about 12 yards downfield. If the WR could hold up the DB for a sec or two Favre could have made the FG attempt easier. However, with Favre you live by the sword, you die by the sword. I can’t even remember who the QB2 was.
Was it Tarvaris?
Just looked it up, you are correct.
Don’t forget about the high low tackle that probably caused the injury to his leg
that was a point of emphasis that year for officials and they blew it off
Should have been a personal foul and auto 1st down
You are correct, apparently my memory is slipping more than I thought.
These are meant to be interactive, please add your lists.
2015 Blair Walsh missing the chip shot FG was a knife in my heart. Even though I think the Vikings would have been easily handled by AZ the next week.
That one did hurt. I actually walked across my house as far away from the TV before that kick and said out loud, “don’t do this to me Blair”. I don’t know if I can see the future or if it was my fault because I can control the future.
Obligatory
I still find myself shuttering my fingers in front of my eyes from time to time with key field goal attempts. Like I can somehow control the trajectory of the ball or lessen the impact of a “jump scare”.
Dodged a bullet on that game, sons and I were planning on attending, secondary tix were uncharacteristically cheap because of how cold the forecast was for the outdoor game. At the last minute I bagged and told them I couldn’t stand a heartbreaking loss and having to fly home.
You may be correct re: AZ, at the time I thought the Vikes we be in the owl if they beat Seattle.
Wouldn’t they have played Carolina in 2015? Seahawks went on to play Carolina
2000 NFCCG against the NYG. Irresistible force encountered an unmovable object.
41-0
Think happy thoughts, think happy thoughts.
1969 – Bud Grant treating the superb owl as an exhibition game. ( Maybe this is why the Vikings are cursed.)Number 5: Extending Kirk for gazillions of dollars every year.
Experts expecting a Hold-in by Potato
https://sports.yahoo.com/articles/mn-vikings-pro-bowler-planning-201149948.html
Hate that.
Trade him if he does.
Nobody forced him to sign his current contract.
It will be interesting to see how O’neill reacts if he holds in and the rookie starts looking like a viable replacement.
Happy Wednesday
Skol
FTP
Rec to Pepsi Girl twice
That’s a lot of humping…
FTP Auto Rec.
Happy Hump Day!
Good morning, SKOL!
FTP!