FYI: Retirement accounts that rely too much on stocks are at risk should the market turn bearish.
Regards,
Ted
http://money.usnews.com/money/blogs/the-smarter-mutual-fund-investor/2015/07/14/portfolio-analysis-a-hyper-aggressive-129-million-portfolio-with-holes?int=9a2208

http://www.sec.gov/Archives/edgar/data/44402/000089843215000896/a497.htm
Neuberger Berman Equity Funds®
Supplement to the Summary Prospectus and Prospectus, each dated December 15, 2014, and the Statement of Additional Information, dated December 15, 2014 (as amended February 5, 2015, April 14, 2015, and June 17, 2015)
--------------------------------------------------------------------------------
Neuberger Berman Global Thematic Opportunities Fund
Class A, Class C and Institutional Class
The Board of Trustees of Neuberger Berman Equity Funds (the “Trust”) has approved the liquidation of Neuberger Berman Global Thematic Opportunities Fund (the “Fund”), a series of the Trust. Accordingly, the Fund will cease its investment operations, liquidate its assets and make a liquidating distribution to shareholders of record.
The date of liquidation for the Fund currently is anticipated to be on or about August 21, 2015 (the “Liquidation Date”). Shareholders may continue to redeem their Fund shares through the Liquidation Date. As of the close of business on July 22, 2015, the Fund will no longer accept orders to purchase Fund shares from new investors or existing shareholders (including purchases through dividend reinvestments). In connection with the liquidation, the Fund may depart from its stated goals, strategies and techniques as it begins to convert all portfolio securities to cash or cash equivalents in preparation for the final distribution to shareholders. Any shareholder who purchased Class A or Class C Fund shares on or after June 25, 2015, will be reimbursed any applicable sales charge paid and will not be subject to any applicable contingent deferred sales charge. If any such sales charge has already been paid, that amount will be reimbursed to the shareholder.
Shareholders who elect to redeem their Fund shares prior to the completion of the liquidation will be redeemed in the ordinary course at the Fund’s net asset value per share. Shareholders may exchange their Fund shares for shares of another fund in the Neuberger Berman mutual fund complex in accordance with the terms of the Fund’s prospectus at any time prior to the Fund’s cessation of operations. Each shareholder who does not choose either of those options and remains in the Fund will receive a liquidating cash distribution equal to the aggregate net asset value of the Fund shares that such shareholder holds at the time of the liquidation. Shareholders are encouraged to consider options that may be suitable for the reinvestment of their liquidation proceeds, including exchanging into another fund in the Neuberger Berman mutual fund complex.
The liquidation of the Fund will result in one or more taxable events for shareholders that are subject to federal income tax. A redemption or exchange of Fund shares prior to the Fund’s cessation of operations will generally give rise to a capital gain or loss (depending on the shareholder’s tax basis in the shares) for federal income tax purposes. In connection with the liquidation, the Fund will declare taxable distributions of its previously undistributed net investment income and net capital gain, if any, in advance of its normal annual distribution schedule. All liquidation proceeds paid to shareholders will generally be treated as received by them in exchange for their Fund shares and will therefore generally give rise to a capital gain or loss, again depending on their respective tax bases in their shares.
--------------------------------------------------------------------------------
Shareholders who hold their Fund shares through a retirement plan or account (such as a 401(k) plan or individual retirement account) should consult their tax advisers regarding the consequences of a redemption of Fund shares prior to the completion of the liquidation or the receipt of a liquidating cash distribution. Upon the receipt of a distribution from the Fund, whether in the form of a redemption or a liquidating cash distribution, such shareholders may have a limited time within which to reinvest the distribution proceeds to avoid adverse tax consequences.
The date of this supplement is July 13, 2015.
Please retain this supplement for future reference.
NEUBERGER BERMAN
Neuberger Berman Management LLC
605 Third Avenue 2nd Floor
New York, NY 10158-0180
Shareholder services: 800-877-9700
Institutional Services: 800-366-6264
Website: www.nb.com

When buying an annuity with post tax dollars (oppose to using tax deferred IRA dollars) are the pay outs partially tax free since some of the payout is a "return of principal" that has already been taxed?

Yes, but.
If you annuitize (give up cash value in exchange for a guaranteed income stream), then a portion of each payment is treated as return of principal (based on your expected lifetime - the insurance company will calculate this for you).
If you get payments by simply making periodic withdrawals rather than by annuitizing, those payments are treated as earnings first, then principal (the opposite of the way Roth distributions are treated). So ultimately some payments will be tax free, but those will be at the end, and they'll be fully tax free (while the earlier ones will be fully taxable).

Also, if an annuity to purchased with resources from a Roth account are you for tax purposes purchasing a "Roth annuity" and, therefore, both the "investment" and the "return on investment" are tax free?
Is there such a thing as a tax free annuity?

You got it right - a Roth IRA. Remember, IRA in the tax code stands for both Individual Retirement Account (28 USC 408(a)) and Individual Retirement Annuity (28 USC 408(b)>

Thanks msf.
Yeah - I realize you're buying insurance with an annuity. For some reason, this "insurance" appears to carry an expensive price tag. Sometimes insurance doesn't make sense. I rarely carry any, except for legally mandated PLPD, on vehicles over 4-5 years old. (Probably not a good analogy.)
VTINX, which you linked, is an interesting fund. It's about 30/70 equity/bond, compared to TRRIX at around 40/60. I've owned the latter a number of years and am quite fond of it as a substantial long term retirement holding.
Haven't studied all your leads yet - but intend to do so. Lots of food for thought here.
A final thought: While The two funds I mention look like they would provide a steady stream of decent retirement income and offer a high degree of principal protection over many decades, there's of course no assurance of that.

Assuming you are talking about an immediate fixed income annuity, the biggest disadvantage are the low record interest rates and hence they aren't paying out much of anything. The way to go is a longevity annuity aka deferred income annuity. However what I leaned there is you can't buy any of these in a retirement account past a certain age generally around 68 to 68 and 1/2. There is a new product, a Qualified Longevity Annuity Contract, that you can purchase in an IRA in older age. This product has some advantages such as being exempt from your annual RMD. Personally, I would only buy an annuity from New York Life because of the company's history of financial stability.

This sums the risks up pretty nicely:money.usnews.com/money/blogs/on-retirement/2010/12/16/3-risks-of-purchasing-a-fixed-annuity
The only thing I would add is there can also be a liquidity risk as you are locking your money up in the annuity and won't necessarily have access to it in case of emergency.

@rmt & @bee:
In the "growthy" world stock space, you may want to consider the LC/MC THOIX ($100K min Wellstrade retirement, $500 min Fidelity retirement + TF) and the MC/SC DGSCX (no minimum TDA retirement + TF, $500 min Fidelity retirement + TF).
Kevin

Dex said, "That is why I advise people to buy lottery tickets for their retirement - they have a 50/50 chance - either they win or they lose."
First, I'd never try to characterize anything Bob C says - because no one else can say it so well.
But Dex, You can't be serious! 50/50 chance of winning the lottery?

I was taking the piss out of Bob C's comments.
But the younger the person, the less likely they will be able to afford to retire.

Dex said, "That is why I advise people to buy lottery tickets for their retirement - they have a 50/50 chance - either they win or they lose."
First, I'd never try to characterize anything Bob C says - because no one else can say it so well.
But Dex, You can't be serious! 50/50 chance of winning the lottery?
http://www.nytimes.com/2013/08/10/your-money/win-a-lottery-jackpot-not-much-chance-of-that.html?_r=0
"The odds of winning (the lottery) remain infinitesimal: Powerball players, for instance, have a 1 in 175 million chance of winning. You have roughly the same chance of getting hit by lightning on your birthday."

Does it really matter? I look at it this way: every year the odds are 50-50 the markets will go up and 50-50 they will go down.

Very true. That is why I advise people to buy lottery tickets for their retirement - they have a 50/50 chance - either they win or they lose.

QLAC Primer:
understanding-and-implementing-qlacs-in-a-retirement
@Junkster...The author suggests:
You could divide the $125,000 limit into three policies, enabling withdrawals at ages 75, 80 and 85, respectively. It wouldn't provide as large a distribution as if it all came at age 85, but this staggered approach provides flexibility and hedges against life's "what ifs."
and,
Similarly, you could craft a staggered, multi-QLAC arrangement, each with different benefits and payout timing. One could have a COLA, another a cash refund and a third could forgo the cash refund. This would provide varying income streams at different stages of retirement.

Hi BobC,
I completely agree with your retirement planning that includes not going to a fully cash portfolio and keeping a 3 to 5 year cash equivalent reserve.
However, without more definitive projections, I start each year assuming the odds of a positive/negative equity return is 70/30 and not 50/50. That assumption is simplistically based on the historical statistical data set. Simple is superior to complex in many, but not all, instances.
Please note the distinction between a probability and a statistical prediction. Both are attempts at estimating the likelihood of a future event, but the approaches differ. A probability projection is based on some mathematical model that is guided by weighting various input parameters. A statistical projection is based entirely on past performance records.
In the investment universe, models are in constant flux since the input parameters are uncertain and include both appropriate components and those that introduce errors. Therefore, I prefer the simple statistical approach.
Guys, the Societe Generale’s Bear market odds projection is only at the 25% level. That is far from a Bear market certainty.
First, it is premature to pronoun the prediction wrong. More test time is required. Second, even if it is proven that a Bear market is not happening, Societe Generale could reasonably claim a successful prediction since they are simultaneously forecasting a 75% likelihood that the Bull market will continue its run.
When making a prediction and incorporating specific odds percentages, forecasters are wisely protecting themselves. In a sense, it is a win-win situation for them.
When making any decision, especially an investment commitment, it is always a good policy to know the odds and the likely payoff boundaries. Statistics and models provide guidelines.
But Mark Twain gave us a cautionary warning: “Facts are stubborn, but statistics are more pliable.” Statistics indeed are pliable, but history demonstrates that market models are both pliable and unreliable.
Best Wishes.

@bee and @msf
I did note previous in this thread about being able to itemize deductions for federal (which may also positively affect state taxes, too); and that this ability may have value with deducting mortgage interest and/or that mortgage interest may be the trigger for enough money to get into the itemized deduction section.
It has since been noted too about being able to deduct property tax, and other smaller items that would not otherwise be able to be used.
Another itemized dedcution that has become "more" important in the last year is for the medical expenses area. I will guess that this was not the case previously, except with special medical circumstances within a family's expenses.
NOW, with some families finding more extreme montetary expenses from compliance with ACA, I will again guess that more families now also have this area available for itemizing.
From experience with some friends and families, the following may now exist:
---much higher out of pocket costs for medical and dental plans
-including policy premiums
-co-pays (medical/dental)
-co-pays (meds)
I played devils advocate with several folks beginning the start period for new ACA rules to help determine previously unused/couldn't use itemized deductions for this area, due to percentage cut off points. Most of these people would not have considered these deductions in prior years.
Some were now able to include medical/dental expenses due to higher policy premiums, more out-of-pocket expenses for items related to medical and dental. There are many items available to include within this itemized area.
Obviously, everything will vary depending upon one's personal monetary circumstance.
However, this is another point of consideration for maintaining a mortgage to allow for this interest deduction that may allow for many other itemized deductions.
Lastly, as a method of testing whether all of this may be of value versus using the standard tax deduction; is to use tax software and create another "user" tax report as if it was going to be the "real thing". From my recall, the two most popular tax software programs let one create up to 6 tax returns. So, one may fill in the blanks to test if medical/dental deductions of all flavors would meet the cut-off percentage to be of value in reducing taxable income.
Sadly, as we know; tax things should not have to be so complex for regular folks, but this is how things are, eh?
Note: many years ago, we did move to a 15 year mortgage at something around 6.75%.
As has been noted here, we pretty much doubled up on the monthly payment. The only variable was that we funded retirement investments to the maximum first. The most important factor, as we here know; is that we did not live beyond our means and were and still are very good with money flows revolving around the wants and needs of human nature.
I think I rambled about what was in my mind an hour ago. :)
Take care,
Catch

http://money.usnews.com/money/personal-finance/articles/2013/09/05/are-you-afraid-to-spend-money
Junkster and I have been posting similar threads - money and retirement.
I'm wondering how many people here, in retirement, under-spend out of fear or some other issue - must see net worth grow, net worth must grow for ego issues?????????
I grew up poor but I always enjoyed life. I have a strange issue, I don' t like to spend money on thing that take up space. I don't care about cars, as long as they work. But, I'm OK with spending money on things like travel and food.
To be truthful, I have a spreadsheet projecting out my net worth out to 100 and even when adjusting for inflation I a great final net worth - something many would envy. That is with conservative spending and growth.
We all may remember people who lived through the Great Depression. In later years they might have a great deal of money but, they could not spend it. They were OK with giving it to other but they just could not spend it on themselves.
I'm in great health and plan to spend more. BUT, IT IS STILL A PURPOSEFUL EFFORT, TO SPEND.
I try to remember, will I be on my death bed wishing I spent less??
So, what is your story on spending?

http://finance.yahoo.com/news/retirement-account-balance-compares-peers-143234713.html
Is it any wonder so few are prepared for retirement?

FYI: NorthCoast Asset Management made slight adjustments to its retirement ETF portfolios in June. While the Greece debt crisis grabbed much of the headlines, NorthCoast focused on more favorable trends in the region. The firm upped its allocation to European equities and high-yield bonds while standing pat on most of its other major holdings.
Regards,
Ted
http://license.icopyright.net/user/viewFreeUse.act?fuid=MTk4MDQ5Njg=
Enlarged Graphic;
http://news.investors.com/photopopup.aspx?path=WEB_NClist070115.gif&docId=759708&xmpSource=&width=1000&height=2845&caption=&id=759795

I'm am not 85 but some of my friends are in their 90's. still active and have plenty of money, none were millionaires at retirement (not working) in their 60's........
How did they do it? wanta guess

FYI: The $14 trillion retirement gap in America “is so scary we’ve stopped talking about it,” Sallie Krawcheck said during a keynote presentation at the Morningstar Investment conference. “And the retirement crisis is a woman’s crisis.” They retire with less money than men and live longer.
Regards,
Ted
http://wealthmanagement.com/print/2015-morningstar-investment-conference/morningstar-gender-diversity-key-success-says-krawcheck

Craig Israelsen made a convincing case for cash as a beneficial asset class in a diversified portfolio in this 2007 Article.
In our household, we have an emergency cash fund which earns very little but is very liquid. In our taxable and retirement investment accounts, I try my best to keep a low cash balance, at most 5-10% at any given time, as I am about 20 years from retirement and I want to maximize our wealth creation despite increased volatility. If I have extra cash with no specific target, I dump the funds in my PRWCX position.
As for the question of how many funds to own, we own a total of 9 funds/stocks, but I see no problem with folks who own more funds, as long as they are excellent, relatively low cost and outperform their respective indices. Live and let live. As I will likely die before my fetching wife (not "partner"), I am focused on wealth creation, and I continually remind my wife that there is only one thing worse than being old, and that is being old and poor.
Kevin

Here is an interesting article on people 100 years and older. There are five times as many women as men in this group:
http://money.usnews.com/money/retirement/articles/2013/01/07/what-people-who-live-to-100-have-in-common