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Old 08-12-2012, 01:51 PM   #1
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2012 National - Financial Roundtable Discussion

Hello Everyone:

I'm interested in hosting/facilitating a discussion at the 2012 National Rally regarding all things financial. This is intended to be a forum where we learn from each other. There is no set agenda but we will center the discussion around topics that relate to money/financial matters in our lives.

Possible topics: cash, stocks, bonds, insurance (all types), pensions, cutting costs, getting more value for less money, creative ways to save, etc

Topics we should avoid: religion and politics come to mind.

So chime in here to express your interest in participating. There will also be a sign up sheet at the rally. Dixieray53 indicated this will not be part of the seminar series on Monday or Tuesday. Maybe the discussion will be an evening activity or an early morning gathering at our trailer.

More to come...

Lucius
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Old 08-17-2012, 09:40 AM   #2
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UPDATE .... As of today we have 3 30 amp sites... We still have 8 reservations from members (?) we have not heard from, so we could have more sites open up. We do not want anyone to be left out. So on Sept. 2nd. if we have not received payment and info from the 8 unknowns we will release those sites. If you are interested and want to come PLEASE PM me or Tracy (Wyldfire) and we will keep you on our waiting list.
Thanks you for your support of this great on line forum.... D
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Old 08-23-2012, 07:40 AM   #3
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Quote:
Originally Posted by nvestysly View Post
Hello Everyone:

I'm interested in hosting/facilitating a discussion at the 2012 National Rally regarding all things financial. This is intended to be a forum where we learn from each other. There is no set agenda but we will center the discussion around topics that relate to money/financial matters in our lives.

Possible topics: cash, stocks, bonds, insurance (all types), pensions, cutting costs, getting more value for less money, creative ways to save, etc

Topics we should avoid: religion and politics come to mind.

So chime in here to express your interest in participating. There will also be a sign up sheet at the rally. Dixieray53 indicated this will not be part of the seminar series on Monday or Tuesday. Maybe the discussion will be an evening activity or an early morning gathering at our trailer.

More to come...

Lucius
I would be interested but I doubt my DW would find it interesting. Keep me in the loop as to date and time and I will join you if it does not conflict with something my DW wants to do.
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Old 08-24-2012, 08:02 AM   #4
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Okay... Right now it's a group of two, maybe three or four if spouses attend.

Dixieray53 suggested getting together in the evening. I think a morning discussion might also work unless people want to sleep in. Regardless, it will not be during a scheduled seminar time slot as we want to allow the vendors their time.

I'll keep you posted. Look for a sign up sheet at registration.

Lucius
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Old 08-24-2012, 07:10 PM   #5
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Originally Posted by nvestysly
Okay... Right now it's a group of two, maybe three or four if spouses attend.

Dixieray53 suggested getting together in the evening. I think a morning discussion might also work unless people want to sleep in. Regardless, it will not be during a scheduled seminar time slot as we want to allow the vendors their time.

I'll keep you posted. Look for a sign up sheet at registration.

Lucius
Will do and thanks! Jack
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Old 09-07-2012, 12:14 PM   #6
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We're just over a week away from the start of the rally. I plan to have a sign-up sheet for the financial roundable discussion. Be sure to look for the sign-up sheet at the registration area.

Lucius
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Old 09-16-2012, 07:44 PM   #7
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The Time Has Been Decided....

...We're getting together at 5:00 PM on Monday 9/17 in the conference center. The regularly scheduled seminars will be over at 5:00 so we'll meet immediately following the final seminar.

As I mentioned during the announcements this evening, my wife and I are recently retired and continue to work out the kinks in our financial plans. We're hoping to learn from the experience of others.

Lucius
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Old 09-17-2012, 08:46 PM   #8
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The financial roundtable discussion was a success. I think we started out with nearly 40 people in attendance with well over 20 people staying for a record 1-1/2 exchange of ideas on a wide variety of subjects. Some of the topics I recall were:

Medical insurance - www.ehealthinsurance.com is a good place to start to see what might be available in your area. After that, check with a local, independent insurance agent.

Where do you put your money today? CD interest is at record lows. Some iRV2 members suggested credit unions for slightly higher interest rates. Another person checks interest rates at online "banks."

How do full-timers handle residency? There is no single answer for this. There are a variety of services available to handle mail forwarding and help you with establishing residency. South Dakata has several options for full-timers, Texas has one option that is used by a large number of RVers and many people establish residency in Florida. Things to consider are: state income taxes, sales taxes, ad valorem (value) taxes, ease of license tag and driver license renewal, ease of registering a new/used vehicle, voting requirements.... the list goes on.

Can you withdraw money from your IRA (or similar retirement account) prior to age 59-1/2? Yes, use the 72(t) rule. There are many T's to cross and I's to dot but you can withdraw your money without penalty using the 72(t) rule. The basic rule is you have to continue the withdrawals for 5 years or until you're 59-1/2, whichever is longer.

How do you live off your savings/investments? Two basic methods - withdraw a portion of the "growth," or withdraw the dividends/interest.

Do dividends keep up with inflation? Many stocks increase their dividends on 12 - 18 month cycles. While this is not a guarantee, it is true with most "blue chip" stocks. However, as an example, GE stock decreased its dividend dramatically during the financial downturn. However, many stocks did not decrease their dividends and many have increased dividends on a regular basis for well over 10 years.

Is it better to begin Social Security payouts early or wait and hold out for a larger amount? It seems like there is no single answer on this subject. In gereral it seems like iRV2 members opted to start as early (as young) as possible. However, on member had a very valid reason for starting the SS payouts later - this person wanted the dollar amount to be has high as possible in order to give the surviving spouse (in the event of death) the largest monthly amount. There may be other factors to consider and it may make sense to speak to a financial advisor.

Is it necessary to use a financial advisor? What are the benefits of a financial advisor? It's not necessary but it may help you have peace of mind with your withdrawal strategy. An advisor may be able to provide some guidance to what has worked with other people in similar situations. Many financial advisors will provide a free one-hour consultation.

Does anyone have experience buying precious metals? The iRV2 member specifically wanted to know if anyone had purchased gold or silver coins, bullion, tangible metals as opposed to buying a gold fund. This was an interesting topic but nobody in the room had a specific answer for the question.

You can see there were a variety of questions and most everyone who participated thought this was a good topic for iRV2 members.
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Old 09-18-2012, 06:04 AM   #9
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Thumbs up Financial Roundtable is a Keeper

I attended the Financial Roundtable and to be honest I had no idea what to expect or how it would apply to our personal situation. First off Lucius did an excellent job getting the discussions started and guiding it along, thanks Lucius! Secondly I was surprised at the number of folks that attended and the interest for the subject matter. The session was scheduled for an hour but I finely had to go after an hour and 20 minutes, DW was texting me that dinner was on the table. This roundtable was an afterthought to the rally agenda and If last night was any indication as to the interest for this subject I would suggest adding it to future rallies.
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Old 09-18-2012, 04:05 PM   #10
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Interesting discussion for sure. Investment planning is best done while one is still young and in the job market. I am too old to start taking chances with changes in my investment plans.'
I was surprised that health insurance is so expensive. That was one thing that kept me on the job for so many years. When I signed on we had a 'contract' that if we stayed on until retirement then insurance would be free for the rest of our lives for the employee and spouse. The local government I worked for had many opportunities over the years to change their minds (and even started to at one time) but were as good as their word and we have free insurance after retirement.
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Old 09-21-2012, 12:47 PM   #11
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I attended the Financial Roundtable and to be honest I had no idea what to expect or how it would apply to our personal situation. First off Lucius did an excellent job getting the discussions started and guiding it along, thanks Lucius! Secondly I was surprised at the number of folks that attended and the interest for the subject matter. The session was scheduled for an hour but I finely had to go after an hour and 20 minutes, DW was texting me that dinner was on the table. This roundtable was an afterthought to the rally agenda and If last night was any indication as to the interest for this subject I would suggest adding it to future rallies.
Thank you for the kind words. Maybe next year the Financial Roundtable can be on the schedule if there's sufficient interest.

Subsequent to the discussion several people stopped me around the campground to talk more about the subject. One topic that came up was the various types of insurance that might be useful at various stages in life: long term care insurance, special insurance for RVers that gets your rig home in the event of injury/illness, and various types of life insurance.

In addition to those topics... how many of us have our estate in order? Is your will up to date? Power of attorney? Living will? I realize some of these subjects bring up issues that we don't want to talk about but they are important and when you're traveling they may be even more important since life-changing events might occur when we're away from home.

...Food for thought for future discussions.
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