This article follows another recent one, Context for the RPD Retirement Portfolio. That article discussed my finances, scaled to those of a retiree needing $100k of income and having $1M of pretax savings. Here, as there, "my" numbers refer to this scaled portfolio.

My secure income is $55k, so I need $45k from the investments. I recently placed 25% of the pretax savings with the investing department at a trusted bank. Those funds are in a standard diverse portfolio of US and international stocks and funds.

My intent is that this pot of money will not be touched for at least 20 years. Eventually, I plan to place barriers to my own access to it, to protect my portfolio from potential cognitive decline, discussed in Define A Strategy For Your Own Cognitive Decline.

My cash and liquidity would cover three years of expenses, if needed. Ultimately, my active-investing funds need to provide a minimum average return of 6% to last 20 years.

More importantly, my goal is to grow these funds to provide both a cushion and more legacy. So, I am seeking a total return substantially above 6%, and ideally much larger.

On an after-tax basis, my scaled, active-investing portfolio has a value of $525k. Here, I describe what I am doing with these funds, and how I came around to those plans.

A few years ago, I began reading widely in the retirement literature, looking toward a retirement portfolio and income plan. For reasons discussed in the prior article, bond investments make little sense for me in particular.

Also discussed was my view that bonds don't make sense for any retiree at present. This followed in part from some modeling of bond ladders and other portfolios with bonds, done before I began writing for Seeking Alpha.

Modeling two-bucket approaches like the one I have taken was my next topic of investigation. My earliest articles on Seeking Alpha discuss models of such approaches.

A two-bucket strategy also later solved my problem of how to handle cognitive decline, and ultimately, this is why I have taken it. My present long-term allocation of 25% to the long-term bucket is on the low side of optimum.

The long-term bucket may turn out to support only a reduced level of spending. Ultimately, I decided to take that risk. My wife and I both favor living as we want to now at the risk of having to cut back later.

It is my deep belief that all investors are ignorant in ways that matter. One can never know enough about a firm and all the factors that affect its future profitability to predict with certainty its future.

This point of view favors relatively broad diversification. Even so, we have discovered on the High Yield Landlord chat that many of our members need to diversify in a way that fits their psychology. Some need few investments they can closely watch. Others need many investments, so a single failure does not cost too much.

There was a period of time where I was thinking hard about approaches to producing 6% to 8% distribution yields, so that my active-investing portfolio would last as long as needed, or longer. If this is the goal, what would work for me psychologically is a very broadly diversified portfolio of about 100 selected investments paying distributions in that average range.

I went this direction beginning in early 2019 with widely distributed preferred-stock investments when they were undervalued and with investments in diverse REIT sectors.

My natural orientation is toward value investing. Invest in securities undervalued by the market and reap the rewards as they are re-evaluated. (See Figure 1.)

An example of the sort of investment I prefer is Spirit Realty Capital (SRC). They were beaten down by the market in response to their complexity. The company shed some problematic assets and during 2019 positioned themselves as a standard net-lease REIT. Yet they were and are valued much less than other similar REITs. I made good money on SRC during 2019 as they gradually appreciated, exited a while for cash flow reasons, and am now back in.

Figure 1. Unlike this economist who believes in efficient markets, value investors will pick up those hundred (or more) dollar bills the market leaves lying around. Source.

Following momentum plays has no appeal at all for me. I don't object to people who do that, but note that they are going head to head with a lot of computers.

Investments that depend heavily on financial engineering, like mortgage REITs and BDCs, also have little appeal. My view of these, among others, is that, whenever the other shoe drops, a lot of investors are going to lose a lot of money.

The challenge for value investors is always to avoid the firms whose price has been driven down because it should be. One, of course, finds many arguments on Seeking Alpha about which ones those are.

Dividend-paying stocks offer a higher yield on cost when undervalued. As one example, the much-discussed Simon Property Group (SPG) has offered a yield near 6% for quite a few months. I believe they are a genuine blue-chip company and am delighted to be able to obtain that yield on cost.

In my case, some of the securities selected, from the opinion that they were undervalued (especially the preferred stocks), returned to more reasonable prices during 2019. My investments overall produced a total return that was a multiple of 6%, despite one big loss and not much gain in the latter few months as I shifted my investing focus.

Both positive and negative factors altered my thinking. One positive factor was my evolving belief that I could find market inefficiencies and profit from them. In doing so, I believe good research is essential and worth paying for.

I learn about and test ideas for REIT investments at Jussi Askola's High Yield Landlord, for which I also write some articles. I also pay for research at Michael Boyd's Energy Income Authority and J. Mintzmyer's Value Investment Edge. Each of these services easily pays for itself.

A second positive factor was the realization that, to me, having an increased cushion and more secure legacy funds does matter and is worth some risk. Achieving this means making investments focused on higher gains.

The negative factor is this. I realized that watching my portfolio decay away as gradual failures (dividend cuts or worse) eat away at its value is not the most comfortable approach for me personally. In thriller movies, I am far more comfortable with the violence that follows than I am with the suspense leading up to it. I'd rather find a high-conviction opportunity for substantial gains and take my losses all at once if my investment thesis fails.

More detailed attention to REITs led me to conclude that mall REIT securities were significantly undervalued. I decided to build a basket of mall REITs. I discuss the motivations for these investments in Retail Apocalypse Not.

I had not thought much about this more active approach until I had dinner with a friend who was passing through town. I started telling him what I was doing and he said "Oh, you are an INVESTOR". The capitalization of INVESTOR was clear in his voice. I thank him for causing me to do some focused thinking.

You need to ask yourself some questions before becoming an INVESTOR.

Do you have the motivation to track your investments in appropriate detail? Can you use clear judgement in deciding whether and when to sell your winners? Will you hang onto losers too long or can you shed them as needed? Investing will bring you crises. What is your track record at handling crises?

This last item may be the most important. Per Warren Buffet

If you can't watch your stock fall by 50% without having a panic attack, then you shouldn't invest in the stock market.

Any financial advisor will tell you stories of the phone calls they get from panicked investors during market declines (Figure 2).

Throughout my life, I have been the calm one during crises. This has served me well for decades, at home and at work. In contrast, my spouse panics and loses emotional control. I've known stellar female investors and leaders who could stay calm amidst turmoil, but she is not among that group. Before you try to imitate what I am about to describe, ask yourself the questions above.

Figure 2. Which one is your brain in a crisis? Source.

Having decided to pursue larger gains by value investing, I can expect loud proclamations that I am an idiot in various investment decisions. I expect to be in the position of Brookfield Asset Management, discussed in this piece on Morningstar, which summarized a Wall Street Journal article. It popped up in our chat room at High Yield Landlord:

"The sentiment is so negative on malls," said Vince Tibone, lead retail analyst at real-estate research firm Green Street Advisors LLC. He said "if you buy a mall and you're wrong, you're probably going to get fired."

Brookfield remains optimistic about a portfolio that ranges from Baltimore's Mondawmin Mall to Portland, Ore.'s high-end Pioneer Place.

In an interview, Brian Kingston, chief executive of Brookfield Property Partners, expressed confidence that the bet will pay off despite recent weakness. "This is part of our strategy in that we're contrarian investors," he said. "This is what it always feels like."

While I did well in 2019, and am hopeful for 2020, it would not surprise me to lose money (on paper) in 2020. Even so, most of the investments will spin off a good bit of dividend income. My hope is for gains within a couple of years, and my expectation is within five.

Figure 3 shows the composition of my active investing portfolio for 2020. I have deep value investments in three baskets: mall REITs, midstream MLPs, and shipping. For each of these areas, I have a written investment thesis, so that I can frequently assess whether it remains valid.

Figure 3. The RPD active-investing portfolio for 2020.

I am a strong believer in selecting baskets of firms within undervalued sectors (Figure 4). The markets often embrace oversimplified narratives and undervalue certain stock sectors as a result. I prefer baskets to individual securities from the perspective discussed above that one cannot avoid being ignorant about important developments for any individual firm.

My baskets reflect the oversimplified narratives of today: Malls are dying from the retail apocalypse. MLPs can't be trusted, depend strongly on oil prices, and will never recover from their recent bear market. Shipping will never be profitable again following its recent extended bear market.

In the case of mall REITs and MLPs, one can get paid well to wait for the market to come to its senses. I anticipate yields of about 10% from both of them. I also anticipate both taking gains and de-risking these baskets when the appreciation occurs.

Shipping, in contrast, is so cyclical that dividends are also strongly cyclical. I have invested in sectors for which I judge the fundamentals to be strong for the next few years, anticipating extraordinary dividends and hoping for gains that let me take some profits.

At present, I am in all the mall REITs, overweight SPG and Macerich (MAC). I am in 12 midstream MLPs, with largest positions in Energy Transfer (ET) and MPLX LP (MPLX). In shipping, I am in 8 stocks, with Euronav (EURN) as my largest position.

Looking ahead, in five years I hope to retain some mall REIT and MLP investments for income but to be finding undervalued baskets elsewhere. Shipping is a wild card. If I am still there, it will likely be in different shipping sectors.

The rest of the portfolio is more mundane. The Dividend Aristocrats are a good choice for long-term appreciation. The other REIT commons are moderately undervalued selections paying moderate dividends.

The crowdfunded real estate loans are intended as an uncorrelated cash generator. I expect to work that sector up toward a 10% allocation in the future, and that it will yield 8% to 9%.

I've run out of room to discuss specific securities further. I would like to share the detailed structure of my mall REIT basket, which has some subtle aspects. I will probably write about that.

Figure 4. Why hold baskets: Which is on average less threatened in a windstorm? Source and source.

If you work through the above material again, you will see that it is chock full of decisions that are specific to my circumstances and my psychology. Understanding the implications of your own psychology must be central as you plan your own portfolio.

I believe that there are strong opportunities today in the undervalued areas of mall REITs, midstream MLPs, and shipping, and also that in each case investing in basket of securities is the most sensible approach. Consider investing in these areas, but before you do, reassess their suitability for your psychology and circumstances.

Also, note that all the percentages above would need to be multiplied by 3/4 to represent their fraction of my total investable funds. They represent an even much smaller fraction of my net worth as implied by my fixed income streams. I hope that absolutely no one will go out and put 60% of their entire net worth into high-risk stocks or baskets in response to this article.

As you put together or reassess your portfolio, bear in mind that different sectors have different stability. The Dividend Aristocrats and Large-cap equity REITs (and some mid-caps) are relatively stable, although always subject to fluctuations with the market. Out-of-favor REIT sectors carry more risk.

Midstream companies (especially MLPs) are a minefield. Many factors matter, from corporate finances to product mix to geography to the overall market. Yet midstream companies are an island of peace compared to what I have seen so far of shipping, where wild cyclicality and massive volatility are normal.

Having shared my motivations and my chosen path, I hope you will find a path that is a good fit for you.

At High Yield Landlord, We spend 1000s of hours and well over $50,000 per year researching the REIT, MLP and other real estate markets for the most profitable investment opportunities and share the results with you at a tiny fraction of the cost.

Take advantage of the 2-week free trial and join our community of >1300 "landlords" before we hike the price!

Disclosure: I am/we are long SRC, SPG, MAC, ET, MPLX, EURN. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Go here to read the rest:
The RPD 2020 Active-Investing Retirement Portfolio - Seeking Alpha

The Hall of Famer will join Eli Manning, who will have his No. 10 retired By Scott Thompson | 10:49AM

During an appearance onThe Tonight Show Starring Jimmy Fallon, Hall of Fame defensive endMichael Strahandropped some news.

The Giants will be retiring his No. 92.

"Yeah, they are," Strahan said when Fallon said he heard the rumor.

This news shouldn't really come as a shock, with Strahan being one of the best players to ever wear a Giants jersey. Still, he admits it's going to be an emotional day.

And he has already handed out one thank you, as he addressed Fallon's band The Roots, who are from Philadelphia...

"It's going to be really emotional and I want to thank The Roots 'cause I know you Eagles fans wrote in and asked them to retire my jersey 'cause you didn't want to see it terrorizing your team no more!" he said jokingly

Strahan's number isn't the only one to be retired, as Giants co-ownerJohn MaraannouncedEli Manning'sNo. 10 will also never be worn again during the quarterback's retirement ceremony last Friday. Strahan spoke on Manning as well, saying he believes all of his accomplishments should see a gold jacket come his way, too.

"He's a great guy and I think he deserves everything that's coming his way: his jersey being retired, hopefully induction into the Pro Football Hall of Fame, two Super Bowls, two Super Bowl MVPs," Strahan said. "The guy is a great friend, man, and I'm happy for Eli to retire the way he wanted to."

Strahan was selected in the second round (40th overall) by the Giants in the 1993 NFL Draft, and that's where would stay over his 15 years in the league. One of the most feared linemen in the history of the game, Strahan was consistently a brutal force to deal with despite teams knowing exactly where he was coming from off the edge.

In 216 career games, Strahan racked up 141.5 sacks, 854 combined tackles, 24 forced fumbles and 131 tackles for loss. His best season came in 2001 where he was named the AP Defensive Player of the Year following a 22.5-sack season with six forced fumbles and 24 tackles for loss. And, of course, he would close his legendary career with a Super Bowl XLII victory over the Patriots.

Strahan and Manning will be the 12th and 13th different numbers to be retired by the Giants. Ward Cuff and Y.A. Tittle share No. 14, whileRay Flaherty(1),Tuffy Leemans(4), Mel Hein(7),Phil Simms(11),Frank Gifford(16),Al Blozis(32),Joe Morrison(40),Charlie Conerly(42),Ken Strong(50), andLawrence Taylor(56) make out the rest of the list.

When both of these numbers will be retired is still unknown, but it is about time the Giants honored one of the best to ever do it in New York.

Ralph Vacchiano | Facebook | Twitter | Archive

The Giants were not happy with Pat Shurmur's coaching staff, especially as the losses mounted in his second season. They had issues with how they struggled to develop young players, according to multiple sources, and they questioned if that staff put the team in the best position to win.

So far, though, there are no such complaints or worries about the coaching staff new head coach Joe Judge has assembled. The early returns are positive from both inside and outside of the organization, both with the quality of his choices and the willingness of the 38-year-old first-time head coach to add experienced voices to his staff.

His full staff hasn't been revealed yet, and only the coordinators have been announced, but multiple sources have confirmed most of the names (The only mystery appears to be the identity of the defensive line coach, which was supposed to be Freddie Roach until he got a promotion to remain at Ole Miss). Judge has dipped deep into his past, bringing coaches he's known from his days in New England, and from as far back as from when he was a graduate assistant at Mississippi State. He also has quite a few who came from the Nick Saban coaching tree.

Read More

As former Cowboys head coach Jason Garrett gets ready for his first season as the Giants offensive coordinator, Hall of Fame quarterback and Fox broadcaster Troy Aikman thinks he will thrive in his new environment.

Aikman, of course, spent his entire 11-year NFL career with the Cowboys, leading them to three Super Bowl titles in the 90s. He talked about the former Cowboys coach during Super Bowl LIV media availability on Tuesday.

"Jason has proved to be a good coach and he keeps in perspective what it was like for him as a player, what he liked and didn't like," Aikman said. "And he's got great personal skills. ...I'd be surprised if he and Daniel Jones don't hit it off right away and develop a real chemistry."

Read More

Michael Strahan, who revealed onThe Tonight Show Starring Jimmy Fallonthat his No. 92 was to be retired by the Giants, knows what his former team needs if they want to get back to the playoffs.

"Can't have a bunch of nice guys and win. It doesn't work. We need to find some dogs," Strahan told The New York Times' David Marchese in a Q&A.

Being a dog on the field was a great way to describe Strahan's nature, being someone who was feared by the entire league on the defensive line. The gold jacket he received in 2014 as a Pro Football Hall of Fame inductee is a pretty good indication of that.

Read More

The Giants started to lay a foundation for the next phase of their franchise in 2019.

The team is now inDaniel Jones' hands, but fellow rookies from last season in wide receiver Darius Slayton and defensive lineman Dexter Lawrence also had strong starts to their respective careers.

Moving into 2020, the Giants will want to put together another strong rookie class to assist those guys, but there's free agency, too. Pro Football Focus said the Giants should swing big and go after Patriots safety Devin McCourty this offseason.

Read More

A familiar face from recent Giants history is joining another with the Denver Broncos, according to a weekend report.

Per 9News in Denver, former Giants offensive coordinator Mike Shula is working out a deal to become the Broncos' quarterbacks coach.

The Broncos already added the Giants' last head coachPat Shurmur to their coaching staff this offseason. Shurmur is now the Broncos' offensive coordinator.

Read More

The Giants have promising quarterback Daniel Jones entering his second season in 2020.

Big Blue hit on at least one of their later picks with wideout Darius Slayton at last year's draft, potentially landing a long-term play-maker for their potential franchise QB.

Is it now time to protect their leader in the pocket?

Read More

While the wins didn't follow, the Giants set a good foundation for the future in 2019.

Highlighted by quarterback Daniel Jones, plenty of rookies were impact players for the G-men last season.

For their efforts, Pro Football Focus tabbed the group the fourth-best rookie class in the NFL.

Read More

With the Eli Manning era officially over for the Giants, everything is now in the hands of quarterback Daniel Jones.

Moving forward, Jones will have at least one go-to option in the coming years in a fellow rookie from 2019 in WRDarius Slayton.

Speaking on the latest happenings with the Giants' quarterback room, the wideout expressed loads of confidence in his QB heading into the offseason.

Read More

It was reported earlier last week that Giants new head coach Joe Judge was bringing on former Browns head coachFreddie Kitchens, but his role was not yet determined. Until now.

Sources confirmed to SNY's Ralph Vacchiano that Kitchens will be coming to New York to be the Giants' new tight ends coach. This is the same position Kitchens held at Mississippi State when Judge was playing out his senior year. When Judge came on as a graduate assistant during the 2005 season, Kitchens transitioned to running backs coach.

For Kitchens, it's a step backward. He worked his way on to the Browns staff two seasons ago as their offensive coordinator, and his group did enough for now-former GMJohn Dorseyto make him the team's head coach last season. But, with a very talented roster, Cleveland failed to make the playoffs after a 6-10 record fell upon Kitchens.

Read More

Joe Judge has reportedly added another piece to his coaching staff, as he is expected to bring Tennessee inside linebackers coach and special teams coordinator Kevin Sherrer to the Giants, according to Patrick Brown of GoVols247.

Brown is reporting that Sherrer will become the new inside linebackers coach in New York.

Judge and Sherrer have been together on a coaching staff in the past, having spent two years together at Alabama under Nick Sabanin 2010 and 2011. Judge served as a special teams assistant for Saban, while Sherrer was the director of player personnel.

Read More

On the same day that Eli Manning retired from the game of football after a 16-year career with the Giants, another star New York quarterback sang some high praises for the two-time Super Bowl champion.

Joe Namath, who played 12 seasons in New York with the Jets and brought the city it's first Super Bowl back in 1969, believes that Manning might just be the best quarterback to ever play here.

"I was pretty good and did some things. Eli, I marveled at. He was remarkable," Namath told The Post Friday morning. "I wouldn't compare myself to Eli. He's done far more than I ever did on the field."

Read More

Former NFL quarterback Archie Manning spoke to SNY's Ralph Vacchiano on Friday after watching his son Eli Manning officially retire from the NFL.

Manning played his entire 16-year career with the Giants, and his father explained why it important for him to retire with the team.

"Well I was proud of Eli, I'm proud of his decision, we think he made the right decision, and I think most people do," Archie Manning said. "I think it's very evident today to see how Eli sincerely means what he says, that it was important to him to retire a New York Giant. So I thought his comments were appropriate and good, and as always, we're very proud of Eli."

Read More

From 1998-2006, Ernie Accorsi oversaw a Giants team that reached Super Bowl XXXV, while also laying the framework for the Giants' Super Bowl XLII and XLVI titles.

And while Accorsi acquired key players like Osi Umenyiora, Justin Tuck, Antonio Pierce, and Plaxico Burress, the biggest move of his tenure as general manager is unquestionably his trade for Eli Manning during the 2004 NFL Draft.

As Manning officially retired from the NFL on Friday, Accorsi was there to celebrate the quarterback's illustrious career.

"First of all, I'm happy he's retiring a Giant. I'm happy he's going out the way he's going out," Accorsi told SNY's Ralph Vacchiano. "He expressed it better than I can. I feel great for him. I always said that I took a lot of heat for that trade and so did he, and it wasn't his fault. I put him in that situation and he had no control over it. I'm glad it worked out."

Read More

Ralph Vacchiano | Facebook | Twitter | Archive

The first impression of Eli Manning was that he wasn't very good at first impressions.

That wasn't just back in 2004, either, when he introduced himself to the NFL by seemingly offending everyone outside of New York because he refused to play for the San Diego Chargers. It wasn't even from his terrible first practices, or his bland first press conferences and what seemed like endless mountains of clichs.

The first time I thought I had a chance to really get to know Eli Manning was in the spring of 2006, at a posh house in North Caldwell, N.J., right across the street from the house The Sopranos used for the mobster, Johnny Sack. Eli and Peyton were there to film a Reebok commercial, the first commercial that would feature the two of them and their father, Archie, together. I somehow got one of the first exclusive interviews with Peyton and Eli together.

Read More

Eli Manning officially announced his retirement on Friday in typical Eli Fashion. He choked up a bit but didn't shed a tear, was matter-of-fact about the end of his career, and thanked everyone who helped him along the way.

"I'll miss hearing the first roar of the crowd, triggering the knowledge that we have been given one more opportunity to go win a football game," Manning said. It's impossible to explain the satisfaction -- actually the joy -- I've experienced being a Giant. From the very first moment, I did it my way. I couldn't be someone other than who I am."

After a retirement speech that was about six minutes long, and finished strong -- "Wellington Mara always said, 'Once a Giant, always a Giant.' But for me, it's only a Giant." -- Manning took questions from reporters on hand. Here are the takeaways...

Read More

The Eli Manning/Hall of Fame debate will rage until he either makes it or doesn't when he hits his first year of eligibility, but one of Manning's former teammates tried to end the debate on Friday.

Speaking after Manning's retirement press conference, Plaxico Burress -- who caught the game-winning touchdown from Manning in the waning moments of Super Bowl XLII when Big Blue took down the undefeated Patriots -- had some thoughts.

Asked about anyone who thought Manning only "might" be a Hall of Famer, Burress was blunt.

Read More

As his retirement ceremony commenced, Eli Manning held a Q&A with the media for the final time, and addressed his possible future with the Giants in a new role.

As John Mara had previously said, the Giants would welcome Manning into the organization in some capacity, and it seems that Manning is interested in the idea of coming back.

"Yeah, it would definitely be something that I'd be interested in," Manning said. "So I'd just have to discuss that and talk to Mr. Mara and see in what way -- and I've got to see in what way."

Read More

Patriots legend Tom Brady joined the ranks of stars to congratulate Eli Manning on his career as he retired from the game after 16 seasons, and the connection between the two is like no other.

Read More

Giants quarterback Eli Manning is retiring from the NFL, and during a press conference Friday discussed his career with Big Blue and what he'll remember most during his time in the league.

Watch his entire speech from the Giants facility, where he was among family, teammates and friends.

Read More

Before introducing Eli Manning on Friday as the legendary Giants quarterback called it a career, co-owner John Mara took what was assumed and made it official.

"No Giant will ever wear number 10 again," Mara said, adding that Manning will also be inducted into the team's Ring of Honor during the 2020 season.

Mara had earlier choked back tears while recounting the final game his father, Wellington, watched before passing away in 2005, when the elder Mara told his son that it looked like the Giants had found their guy with Manning.

Read More

As Eli Manning announces his retirement from the game of football Friday morning, the debate on whether the two-time Super Bowl Champion and Super Bowl MVP deserves to make the Hall of Fame has been a topic of discussion all week.

His brother and fellow quarterback Peyton Manning begs to differ on his odds to make it to Canton.

"To me, it's the time to look back and reflect. Everybody else wants to look ahead and have this debate. And I understand, that's just the world we live in. I know Eli doesn't think like that, and I don't think like that either. But I certainly have my strong feelings and opinions on it," Peyton said. "When you're the Super Bowl MVP twice against the greatest dynasty of all-time, the New England Patriots, Tom Brady/Bill Belichick, and you join a list that includes Terry Bradshaw, Bart Starr, Tom Brady and Joe Montana, Eli Manning as the only (multiple) Super Bowl MVPs.

Read More

Ralph Vacchiano | Facebook | Twitter | Archive

It would be easy to say Eli Manning is one of the greatest players in Giants history, simply because he is. But it's also been a long and storied history for the franchise that includes 21 members of the Pro Football Hall of Fame, 42 members of their own Ring of Honor, and four players named to the NFL's 100th anniversary all-time team.

That makes choosing a Top 5 anything but simple. And Manning's position is debatable, to say the least.

Continued here:
Michael Strahan reveals Giants will retire his No. 92 - SNY.tv

Javier Hernandez has not yet been in Los Angeles a whole week and he is already in the eye of the storm due to a video that he published on his YouTube channel in which he says it is time to start thinking about his retirement.

The 31-year old used the 'R' word when referring to his move to Los Angeles to play with Galaxy in the MLS. What he really meant was that he is at an age when he needs to think about his near future, not that Major League Soccer is a place for players to retire.

Chicharito wanted to clarify that since he is now 31, and following a decade playing in Europe, it was time for a change since he is not getting any younger and all he wants to do is keep playing.

My career as a soccer player is coming to an end, I wonder what would happen if I decided to go back and play in Mexico, that is not a league you go to retire. All I meant in that video is that my career is coming to an end, that could happen in 5 or 10 years, said Galaxys new number 14.

Many years ago I would say yes the MLS is a retirement league, but it has grown so much. This league has improved and in Mexico they do not realize that. I did not come to Galaxy to retire, I came to win and compete. But it is clear that I have a few years left as a soccer player, so everyone should just relax, Chicharito said to former player, Alexi Lalas, during an interview.

See the original post here:
Chicharito: retirement talk because of my age, not the MLS - AS English

Dear Catey:

My wife and I are 58. She will retire at 62 and I at 67. Our annual retirement income at 67 will be approximately $95,000 from Social Security, pensions and investments. We would like to find an affordable, friendly place to rent during the winter months, that is warm and as close as possible to the ocean in the good ole United States of America.

We plan to pay off our home in the Midwest in about six years. Grateful for no other debt. Ideally, the location would also be near stores, in restaurants and walkable. It cannot be on the West Coast. In the coming years, wed like to visit locations to test the waters. Can you help with some recommendations for the future snowbirds?

Thank you,

G.A.

Dear G.A.:

I get a number of letters from aspiring snowbirds, and frankly, escaping the cold months sounds like a plan to me (I write this as Im bundled up in a sweater in chilly New York City and dreaming of a palm tree and umbrella drink).

Of course, there are things to consider like taxes (heres a piece from Money on how snowbirds can avoid a blizzard of taxes), home security, winterizing your home and more (this guide is a good start).

That said, snowbirding is a compelling option. Here are three spots in walkable, pretty affordable beach towns.

St. Augustine, Florida

This city of about 15,000 residents is nestled along the countys 42 miles of pristine beaches and boasts tons of history. You cant walk very far in St. Augustine without being reminded that it is the oldest European-established city in the U.S.one that houses more than 60 historic sites and attractions, including a town square that dates to 1573. The city is still very much alive, however. Pedestrian-only St. George Street, lined with bistros, boutiques and bars, bustles all day and well into the night, with live music coming from practically every other open door, writes Kiplingers of the town, which it calls a smart place to retire.

And Travel & Leisure, which named it one of the seven best places to visit in Florida, notes that: Its a walkable town, imbued with intrigue; whispers of the past swirl through every cobblestoned alley. Kiplingers adds that St. Augustine has everything from golf to belly dancing for retirees as well as plenty of cultural activities, affordable luxury living, and first-class health care.

To be sure, there are cheaper cities to live in Florida the cost of living in St. Augustine is slightly above average for the U.S. but this city has so many perks to recommend it, and with your income you can likely make this work: The median rent for a one-bedroom apartment is $800 and the median two-bedroom is under $1,000, according to Sperlings (though you may pay more in the heart of things) not to mention that Florida is one of the most tax-friendly states in the country for retirees, Kiplingers notes. (Heres a piece on how snowbirds can be taxed as Florida residents.)

Related video: How to retire with $1 million, $2 million or $3 million (provided by CNBC)

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New York Citys "Silicon Alley" is back this time, on the west side of Manhattan. WSJ explains why tech companies tend to cluster in the same neighborhoods.

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Galveston, Texas

Texas, like Florida, has no income tax and is tax-friendly to retirees and Galveston itself has a cost of living thats significantly below average. Its also, at least in parts, reasonably walkable and offers quiet beaches as well as a lively cultural scene, writes Kiplingers, which calls it a great place to retire.

You wont be bored there: Because Galveston attracts a lot of weekend visitors, theres always something going on, writes Kiplingers including annual celebrations like Mardi Gras, the Food and Wine Festival, the Brewmasters Craft Beer Festival, as well as an amusement park, and summertime concerts. Plus, Houston which has excellent health care and plenty more to do is under an hours drive away. Crime is slightly elevated in Galveston, but there are safer neighborhoods.

Its not just a resort town either, writes the New York Times: Galveston (population, 49,000) has more character than most flip-flop playgrounds. Its history, as rich as that of Charleston, S.C., or New Orleans, is evident in the majestic downtown structures and in palm-lined neighborhoods of Victorian homes painted in jelly bean shadesMore recently, an enormous rebuilding effort in the 1980s started a new round of changes. Artists and entrepreneurs are filling downtown lofts and restaurants; these days many visitors come for the manufactured wonders as well as natural ones along the shore.

Tampa, Florida

Tampa landed on Kiplingers list of the best places for early retirement thanks in part to its particularly affordable living costs as well as all the things youd look for in a Florida retirement: white sand beaches, warm blue waters, plenty of golf and generous tax breaks.

You can also find certain neighborhoods that are walkable and plenty of other perks too like a growing food and live music scene, killer lineup of breweries and almost eternally beach and boat-friendly weather, writes Thrillist, which calls the quality of life here appealing.

Tampa (population of about 370,000) and the surrounding area also offer both a laid-back beach lifestyle and the amenities of a large metropolitan area, including professional sports teams, interesting museums and an array of entertainment and dining options, writes U.S. News. However, some complain of the citys growth and sprawl.

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Where to retire on the beach for $95,000 a year - msnNOW

There is no one way to approach retirement, but many people are getting creative in stretching their money for a comfortable even luxurious third act of life. One strategy? Retiring abroad.

International Living, a magazine focused on Americans living overseas, released its annual Retirement Index recently. The index was curated by US expats and ranked countries "where you can live a healthier and happier life, spend a lot less money, and get a whole lot more" in retirement. Portugal was named the best country for retirement because of its affordable lifestyle, quality healthcare, temperate climate, and dining.

Business Insider spoke with Tricia Pimental, who retired to Portugal in 2012 with her husband, Keith, from Park City, Utah. They currently live in central Portugal and spend roughly $2,330 in a typical month.

They spend that money across categories including housing, food, transportation, healthcare, and entertainment.

Do you have a similar story or budget you'd like to share with Business Insider? Get in touch with this reporter at tborden@businessinsider.com.

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Retired American expat couple shares their cost of living in Portugal - Business Insider

Healthcare is a major expense for seniors, so much so that recent estimates put the average cost of it at $387,644 throughout retirement for the typical 65-year-old couple retiring today. But while that figure may seem astronomical, it actually doesn't account for a related expense that many seniors will inevitably face: long-term care.

A good 70% of seniors 65 and over will need some type of long-term care in their lifetime, whether it's a few months of home health aide assistance or a couple of years in an assisted living facility or nursing home. And unfortunately, Medicare won't pay for long-term care, which means the majority of seniors could be looking at some very large bills.

That's why it's crucial to secure long-term care insurance, and your 50s are generally considered the best time to apply. At that stage of life, you're not signing up to pay premiums for too long, but you're also more likely to get approved for a policy and snag a discount on its cost based on your health.

Image source: Getty Images.

But new data from TD Ameritrade reveals that only 16% of Americans in their 50s have a long-term care policy in place. If you're without this key insurance, it's time to get moving on your application -- before that window of opportunity passes and you run the risk of racking up some extremely expensive bills.

Many seniors don't realize just how costly long-term care is until they actually need it. Here's the average price tag for a number of commonly required services, based on Genworth's 2019 Cost of Care Survey:

Long-Term Care Service

Average Annual Cost

Assisted living facility

$48,612

Home health aide

$52,624

Nursing home -- shared room

$90,155

Nursing home -- private room

$102,200

Data source: Genworth.

Keep in mind that these are just averages, and that in some parts of the country, these services can be far more expensive. Worst yet, Medicare generally won't cover them because they're largely considered custodial care, which is another term for non-medical assistance. To be clear, Medicare will pay for seniors to recuperate from injury or illness, but often, the need for long-term care doesn't stem from such circumstances; it's just a result of aging. And if you don't line up coverage for long-term care while you're relatively young, you could wind up facing some insanely expensive bills just to remain functional.

Of course, long-term care insurance itself isn't cheap. Though your premium costs will depend on a number of factors, like your age at the time of your application, the state of your health, and the specific amount of coverage you're looking to secure, to give you an example of what you might pay, a 55-year-old man in New Jersey applying today could receive a benefit of $150 per day for up to two years at an annual cost of $1,195.43.

Now, let's assume you wind up spending two years in an assisted living facility that costs $150 per day. All in, you're looking at $109,500. Let's also assume you pay an annual premium of $1,195.43 for 20 years to obtain that benefit, for a total of $23,908.60. Despite the large amount of money you'll end up sinking into your premiums, it pales in comparison to the $109,500 you might otherwise be looking at.

Nobody has the ability to see into the future, so it's impossible to predict whether you'll need long-term care. But if you'd rather not run the risk of bankrupting yourself and your estate, you'd be wise to apply for a policy. Though it's best to do so in your 50s, you may qualify for affordable coverage in your 60s as well, so even if that ideal application window has passed, it still pays to see what options are available to you.

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Only 16% of Older Americans Have Made This Smart Retirement Move - The Motley Fool

Dear Catey,

We are a physician and engineer couple planning to retire in 10 to 15 years. After spending most of our adult lives in several cold places (Wisconsin and Illinois, among them), we would like to move south and retire there. Our plan is to take up jobs in or near areas that we ultimately plan to retire in.

We are looking for liberal, midsize, culturally diverse college towns with access to good health care and low taxes in Arizona, Tennessee or North Carolina. Your suggestions will be highly appreciated.

Thank you, NM

Dear NM,

First of all, congrats on planning so far ahead for retirement. Though many people cant do what youre planning, its a smart idea to move to the place ahead of when you plan to retire full time; and through your jobs in the area, you can meet people and establish friendships ahead of retirement.

Further kudos to the two of you: It sounds like youve done a lot of research on where you want to retire, having narrowed it down to three states. Here are some spots for you to consider.

Chattanooga, Tenn.

Outside magazine calls it the best town ever (it has twice won that publications best-towns contest), and both Kiplinger and our sister publication, the Wall Street Journal, hail it as a great place to retire.

A peek at the perks of Chattanooga reveal why: Nestled against the Tennessee River in the foothills of the Appalachian Mountains, Chattanooga, Tenn., has transformed itself in recent decades from an unassuming town to a hyper clean, high-tech (Gig City was the first in the United States to offer gigabit internet speeds), outdoorsy family destination that offers hiking trails, rock climbing, museums, one of the finest educational aquariums in the world, and innumerable food and entertainment venues, writes the New York Times, which adds that Chattanooga is a breath of fresh air.

Its got a lot to offer you guys in particular, as it leans liberal and is a midsize city (population is about 175,000) thats also a college town (home to the University of Tennessee at Chattanooga). Kiplinger highlights the hospitals in the area: Health care is available through the Erlanger Health System, which has five hospitals based in Chattanooga, it writes, and there are others, in addition to being situated about an hour and a half from Atlanta, which has myriad other hospitals.

Plus, the cost of living is significantly below average for the U.S., which may offset a somewhat high sales tax. Tennessee does not have an income tax, and Kiplinger concludes its one of the most tax-friendly states for retirees.

The downsides: It can get hot and humid here, and, as the Wall Street Journal notes, at times it can seem like theres a lot of construction going on.

Tempe, Ariz.

Tempe checks a lot of boxes for you two: Its a college town (home to Arizona State University) that leans liberal, is somewhat diverse (about one in four residents is Hispanic, and more than one in 10 is either black or Asian) and is midsize (about 175,000 residents), according to Sperlings Best Places.

It also offers great access to health care, thanks to its proximity to Phoenix, as well as warm weather year-round. Admittedly, though, it can get very hot in summer, and Arizona isnt quite as tax-friendly to retirees as some states thanks in part to a high sales-tax rate (though it does tend to have low property-tax rates and does not tax Social Security). You can read more about Arizonas taxes here.

More Tempe perks: The downtown area has more than 100 shops and restaurants to enjoy, and its also somewhat artsy (theres an orchestra, a place to see Broadway shows, plenty of museums and a major annual arts festival). Plus, you have excellent access to the outdoors (and great weather to enjoy it), including hiking, biking, a town lake and more.

Winston-Salem, N.C.

Ive recommended this city to a retiree in the past for many reasons: Its a college town with a low cost of living, friendly vibes, lots of shopping and recreation, and solid health-care options so you can read my entire description here. I will add a few things that you asked for that I didnt mention there: The city leans liberal, according to Sperlings Best Places, and North Carolina, according to Kiplinger, is a mixed bag when it comes to the taxes that retirees tend to care about.

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I want to retire in a college town with warm weather and lower taxes where should I go? - MarketWatch

Dear Catey,

I currently have about $315,000 in retirement savings and am 38 years old. I have about $30,000 in consumer debt (this is the only debt we carry, no car payment or mortgage) about $24,000 of which is an unsecured loan that Im paying about 10% interest on; the rest is on credit cards that are on a 0% promotional period and that I hopefully pay off before the 0% period expires in October 2020.

Im trying to pay down my debt and continue to save aggressively for retirementIve made minimal improvements over the past couple of years paying down my debt and continue to play the balance transfer game on credit cards to retain 0% interest rates or other low rate options. We also have two small children that add to the list of expenses.

My plan for 2020 is to lower my 401(k) contributions from 15% to 5% and use the additional income to pay down debt. My company contributes 10% no matter what I contribute. What are your thoughts on this?

Best, M.F.

Dear M.F.,

Your issue is a common one: The average personal debt load (thats debt excluding mortgages) of people with debt is about $38,000, according to research from Northwestern Mutual. And many of them, like you, are struggling to pay this debt down while also trying to save for retirement. So I asked financial experts: Should you cut retirement contributions to pay down debt?

The answer: This person has a fairly decent plan: lowering the 401(k) contributions to pay down debt, says Mitchell Hockenbury, a financial planner at 1440 Financial Partners in Kansas City, Mo. . He is still contributing 15% (10% employer, 5% employee) toward retirement with a long runway being only 38 years old.

Frankly, you might even be able to contribute less to retirement if that meant you could pay down debt faster: Saving money for retirement is incredibly important, but between your savings to date and your companys 10% contribution (which is amazing kudos to them), your retirement fund should continue to grow steadily even if you take a pause from saving altogether and drop your contribution rate down to 0%, says Amy Ouellette, director of retirement services at Betterment for Business adding thats true only as long as youre truly ready to be focused on paying down your debt as rapidly as possible.

Why is paying down debt so beneficial to you? Getting rid of debt is one of the most profitable things you can do for your bottom line in terms of net improvement, says Kimberly Foss, founder of Empyrion Wealth Management in Rosedale, Calif. When you pay off a 10% loan, you are in effect boosting your net worth at a 10% annual rate.

In general, many financial experts recommend that people with high-interest debt pay that down as quickly as possible, while also putting in at least up to what your company matches in your 401(k).

Of course, its essential that you do use the money you are redirecting from your retirement fund to pay down that debt quickly. If you cant get a grasp on your monthly spending it may be a temporary fix, says Hockenbury. Establish a realistic spending plan and provide yourself some leeway for the unexpected expenses of your two small children. Dedicate yourself to the spending plan and then work the math on the debt reduction plan.

Also, look for money in other spots too, or ways to bring in any additional income both of which can help you more quickly pay down debt.

Once that debt is paid off, and youve gotten your spending down through budgeting, youll likely feel relief: When youve eliminated your debt, youll be in an even stronger position to resume higher contributions to your retirement planwithout the drag of making interest payments to a credit card company or other lender. At your age, youll still have lots of years to make up the difference for the decreased deposits to your retirement account, says Foss.

*Letters are edited for clarity and length

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Im 38 with $315,000 saved for retirement, but have $30,000 in debt. Should I lower my 401(k) contributions to get rid of that debt? - MarketWatch

Daniel Cormier said Monday if he doesn't get his trilogy bout with heavyweight champion Stipe Miocic by the summer, he would consider retiring.

"You can't wait forever," Cormier said on Ariel Helwani's MMA Show. "Every day that passes does not benefit me. I'm a realist, I understand that. Either we're going to do it or we're not going to do it."

Cormier has maintained he wants to fight once more, against Miocic, before retiring. The two split their first two fights, with Cormier winning on July 7, 2018, and Miocic regaining the belt on Aug. 17, 2019. Miocic said he needed surgery last September due to inadvertent eye pokes by Cormier, and Miocic's agent told ESPN on Friday that he will not fight again until they are "100 percent confident" in the short-term and long-term health of his vision. There is no timetable on his return.

"When I fight, it's going to be for the championship or I'm not going to fight," Cormier said. "This is not about money. This is about finishing what we started. Also because I know I can beat him."

ESPN's No. 4-ranked heavyweight Curtis Blaydes, who beat No. 5 Junior dos Santos on Saturday, said if Miocic hasn't yet made a decision by June or July, he'll call for the champ to "defend or vacate."

"If he wants DC, that's fine, but we don't even know if he wants DC," Blaydes said. "I didn't envision him being a champion to create a logjam like this. It feels to me that he's just soaking up the spotlight, which is well within his rights, but in order to be the champion, a champion has to fight. He has to defend the belt. He has to continue to prove that he's the champion."

2 Related

After beating Miocic in 2018, Cormier defended the belt four months later against Derrick Lewis. The UFC needed the bout to headline its card in Madison Square Garden. Miocic may have wanted Cormier to wait for a rematch, but Cormier said he felt obligated to help out the UFC and he didn't want a short camp for a Miocic rematch. Cormier was asked if he thinks Miocic is making him wait now because he made Miocic wait.

"I had back surgery [after the Lewis fight]," Cormier said. "I couldn't have done it any sooner. When I think about it, I probably shouldn't even have fought [Miocic] in August. I didn't want to keep the guy waiting. I didn't want to not fight. I like to compete, it's what I've done my whole life.

"If they're playing a game with me, whatever. It's not even upsetting. It's almost like it kind of breaks you down. But I have faith in the UFC. I have faith in Dana White. I have faith in all the things him and I have spoken about in regards to the fight. If [Miocic] doesn't [fight], we'll see what happens. We'll see if there's an opportunity for an interim championship or maybe he would strip him of the title. He's a guy that's won one fight in two years. Over the course of those two years he will have fought twice, so it's not like he's the most active fighter."

White has said the trilogy between Miocic and Cormier is the fight he wants, and Cormier said he wants Miocic's name attached to his final bout.

"I don't really like fighting anyone else," Cormier said. "At this point, Stipe has the ability to retire me."

Cormier said he's currently dealing with more back problems that require treatment. "Stipe's not the only guy that's banged up, that's hurt," he said.

"We fought five rounds and I won almost four. ... So I can imagine why he wouldn't want to fight."

Cormier also said Miocic's callout of boxer Tyson Fury is "misguided."

Read more:
Daniel Cormier wants third fight with Stipe Miocic by summer or may retire - ESPN

For many Americans, retiring with $1 million saved would be a dream come true. A nest egg of this size would provide around $40,000 in annual income, assuming you follow the 4% rule. When combined with Social Security benefits, this could provide a pretty comfortable lifestyle.

But while $1 million is a nice number to aim for, is it actually possible to achieve?

To determine that, you'll need to know what it would take for you to retire with seven figures saved up. And that answer depends on when you start saving as well as the returns your investments earn.

Image source: Getty Images.

Here is what you'd need to save to have $1 million by age 65, depending on your annual rate of return and how old you are when you begin putting money aside for retirement.

Starting Age

Savings Per Month at a 6% return

Savings Per Month at a7% return

Savings Per Month at an 8% return

Savings Per Month at a 10% return

20

$363

$264

$190

$95

25

$502

$381

$286

$158

30

$702

$555

$436

$263

35

$996

$819

$670

$442

40

$1,443

$1,234

$1,051

$754

45

$2,164

$1,920

$1,698

$1,317

50

$3,439

$3,155

$2,890

$2,413

Calculations by author.

If you start saving in your 20s, it's not too difficult to hit your goal, especially with a reasonable return on your investment.But the longer you wait, the harder it becomes. For those who begin investing in their 50s, hitting $1 million will be all but impossible without a very high income and a lot of spare cash.

Depending on how old you are, you may need to get very aggressive about cutting your budget or even earning extra income to hit your monthly savings target. In some cases, this may mean switching to a less expensive vehicle, downsizing your home, or starting an extra job.

You'll also want to make sure you're earning a reasonable return on investment, since this helps determine the amount you need to save.

To maximize your returns while minimizing risk, you'll want a diversified portfolio with the right asset allocation. The younger you are, the more of your money should be invested in stocks. A good rule of thumb is to subtract your age from 110 to see the percentage of your funds that should be in the stock market.

If you're not sure how to buy individual stocks, you can learn the fundamentals or build a simple ETF portfolio. These model portfoliosinclude some suggestions for funds to include.

The chart above should tell you that you don't want to waste time if you want to invest a reasonable amount and still end up leaving work with a seven-figure investment account.

Originally posted here:
Here's How Much You Need to Invest to Retire With $1 Million - The Motley Fool