Made My First Stock Sale on Schwab

 

On Friday, I took out my required minimum distribution from my Stretch IRA account.  Charles Schwab has a 24 hour hotline, and they will walk you through any sales or purchases you want to make.  The operators are very helpful and knowledgeable.  I love not having to pay any fees.  They are often hidden when you use a broker. 

I contacted the woman who helped me set up my retirement account there.  It was very easy.  We used an online calculator to give us the numbers.  With her guidance, I set up the sale and transfer.  It’s important to remember that it takes time for the money to reach your bank or credit union.  

I expected the money to arrive in my account on Monday, but it was already sitting in the account by Saturday.  I was also able to have the taxes taken out, so I don’t get hit with an unexpected tax bill next year.

It takes discipline and attention to detail to get your taxes paid on time.  Having it all written on a calendar or in a datebook is helpful.  If your stocks have done well, you may have enough to pay for a nice trip!

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Discussing Your Retirement with a Financial Planner

 

Yesterday I had a phone appointment with one of the brokers at my brokerage firm.  He had mentioned that a financial plan is included with the account, so I decided to take him up on his offer.  Everything I read online said that there would be a fee, so I made sure to get it in writing.  He assured me there would be no charge. 

He asked me some interesting questions.   I think they would be helpful to anyone. 

 Do I have any debt?  How much do I pay for health insurance?  Do I have Long Term Care Insurance?  How old is my car?  Will I need to budget for a new one?  How is my roof?  (Fortunately, I replaced it recently, as well as the original windows.) 

I gave him the basic numbers of my budget.  We discussed when I would take Social Security.  Although I had planned to wait until I am seventy, I decided to take it earlier, following my dad's advice.   He invested the money himself and made far more than 8%.  I think I could do the same thing, based on what my stocks are now averaging.   I manage the portfolio myself, and I enjoy the challenge.  

He asked about my health.  My dad lived to be 88, so he came out ahead, even taking Social Security when he did.  My mom didn't live nearly as long, so it was also better for her to take Social Security as soon as she was eligible.  How long we think we will live is a big factor.  We just never know.

I really enjoyed the meeting.  We will have a follow up Zoom session next month.  He praised me for handling my property and legal matters without paying a lawyer.  Being self-employed prepared me for a lot of those issues.   I also am glad that I had my hips replaced when I was fifty. 

Have you consulted a financial planner on your retirement plans?  How was your experience?

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Replacing the 1950's Carpet and Flooring

 I just ordered new carpet for the cabin.  There will be oak hard wood floors downstairs, and  sage green high quality carpet upstairs.  What I currently have is nearly seventy years old, I think.  This was a vacation home that was just used on the weekends.   They spent money on quality, and bought materials that would last.  It's definitely time to update.

I was fortunate to find the gorgeous wood for the floors on close-out.  It would have been extremely expensive, but because of the timing, I got an incredible deal.  I think it will look fabulous with a fire in the fireplace.  The flooring I have now is laminate.  It's those marbled squares that are fake wood.  I think having the real thing will make all the difference.  

When they got older, my parents pulled up the carpeting in their home and replaced it with dark hardwood floors.  It really gave the house a rich, upscale look.   I loved how the brown stain matched their antiques.  

The carpet I currently have is pale yellow, and is very old fashioned.  It might even be that indoor/outdoor carpeting that they used to sell.  It doesn't have any stains or tears, but it's very thin and faded.  I am so excited to see how the new, plush carpet looks.  One man will carpet the upstairs, while the other two install the flooring downstairs.  It's going to be exciting!

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Enjoying the Weather

 

It's been an incredible week-Lula and I have been loving the sunshine!  The flowers are blooming, and soon the huge oak trees will be leafing out from their dormancy.  There are clusters of daffodils everywhere.  They add so much cheer and color to the neighborhood.  I love how they look surrounded by carefully structured stone walls.  

I've been watering the cypress, pines, and fruit trees.  Everything looks so healthy at this time of year.  Lula and I took a gorgeous hike together this morning.  We stopped at a bench for a short break and a snack.  There were just a few other hikers on the trail.  All were friendly and happy.   Everyone was enjoying the gorgeous vistas, pleasant weather, and fresh air.

On the way home, we sat by a stream and listened to the soothing sound of a nearby waterfall. Lula crunched on some snow laying on the embankment, and eagerly devoured her dog biscuits.

If you enjoy free or inexpensive hobbies, you spend far less money. (especially in retirement.)  I'm looking forward to a bike ride later this afternoon.  The longer days are inspiring.  Summer is on its way!

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From the Beach to the Snow

 Last week the time we spent at the beach was relaxing and healing.  There is something so calming and spiritual about gazing at the ocean.  I can't wait to actually  get IN the water again!  We were just on the bike path.  I wore a sweater to cut the chill.  Hanging out seaside  helps me to appreciate the beauty of nature, and to forget about my perceived problems.  The sound of the ocean really broadens one's horizons.

Yesterday I drove back up to the cabin.  I placed an order for some dividend paying stocks in the morning with my broker.  I had researched the companies that I was interested in, and realized that the timing and price were right.  I like the stock market because it's fast, efficient, and liquid.  I just switched my accounts to the online version, and am very pleased with how easy it is to navigate the website  Having a new laptop makes all the difference.   No more paper statements hanging around...that's a relief.  On her last podcast, Suze Orman was recommending Chevron as a stock for us to buy.  That made me feel happy, because I have a large percentage of my portfolio with Chevron.  It's given me an excellent income in my late fifties.  Warren Buffett just purchased a tremendous  lot of it, as well.  

Today I paid the second half of my  property taxes for the land and cabin.  This time I did it online, using the county website.  There is no charge if you pay by e-check.  You have to carefully make sure that there aren't any mistakes in your paperwork, if you do, there is a $36.00 fee.  Yikes.  The transaction  went through immediately, and now I don't have to mail the bills or worry about them being received.

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I Love Kindle Unlimited

 I recently signed up for  a free trial of Kindle Unlimited, and  am absolutely loving it!  It's so convenient to check out the books that interest you from their library, and have them appear immediately on your  Kindle!  Details are at www.Amazon.com.   I've just been devouring books lately.  My mom and dad would be pleased.  They were both avid readers.  I am still using the Kindle that I inherited from my mom.  My dad saved it for me.  She read hers constantly.  She was an invalid before she died, and she always had it in her hand.

Today I zipped through one about living off of dividend stocks.  It was fascinating.  The author told the story of a man who had worked his whole life as a gas station attendant and a janitor.  He invested a portion of his income in dividend paying stocks, and reinvested the dividends.  He built up a net worth  of eight millions dollars,  taking advantage of the power of compound interest.  I was amazed!  He picked quality stocks like:  Johnson and Johnson, Coca Cola, Proctor and Gamble, Mc Donalds, etc...

I made a list of about fifteen of stocks that interest me.  I plan to dollar cost average a certain amount per month, and invest in more of these companies.  I am excited about it.  

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Protecting Your Money As a Senior

 Since my dad died, I have noticed that I have to be very careful with people who work as bankers, attorneys, brokers, and in real estate.  It's so important when you are settling an estate that you make careful notes, know how much money you are transferring into your accounts, and that you are aware of what you are doing.

 My mother let my father handle all of the finances.  She liked to spend money, but she knew nothing about their investments, how their stocks were doing, or what their net worth was.  Her VW Beetle  wasn't even in her name.  I once saw a Suze Orman show about how important it is for women to have their own money, a savings account in their name, etc.  but she wasn't interested.  She let my dad handle everything.   

Women like this can be targets for scams, hidden fees, poor investments, and lies.  It's so important to read up on the areas that are new to you.  I study articles on  investing at Yahoo Finance.  My father recommended the website  to me, and it's an excellent resource.  

You can negotiate what you want.  Closing a cash sale on land should be cheaper than one that requires a loan.  You can make an offer that's affordable to you, and not go any further if what they want seems too expensive.  Maybe the seller will pay the closing costs.  It doesn't hurt to ask.

Today one of the managers at my credit union tried to talk me into keeping more money there than I had planned.  I had done extensive research on how much the FDIC insures, and had made plans to put some of the money from a home sale in a separate account at a different bank.  She tried to tell me that it didn't matter, since I had beneficiaries.  She and the woman working there made three attempts to keep my money at their institution.  It was shocking.  "This is not her decision," I told the teller.  I got my cashier's checks, but I had to stand my ground and insist.  They acted like it was theirs.  People in those fields can get very possessive with cash.   

We have to be very careful right now and steer clear of people who take advantage of seniors, women, or others  that they see as unsuspecting.  Forewarned is forearmed.  I see so many older women hire people to invest their money for them.  It can all be lost so quickly.  I manage my own funds, and check them daily.  It's not hard.  How about you?  

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Going Through Your Parents' Things

I have those angel candles above my fireplace now.  Her sleigh bells now hang on my door.

My parents' house sold and we have closed.  This is the ending of an era.  I took photos of all of the rooms after my mom died.  I wanted to remember how it looked with her magic touch.  She had such a talent for decorating and the home. 

My brother got rid of all the antiques and staged the house.  It sold very quickly.  It looks completely different now- very modern.  I wish I could have taken some of the furniture, but I wasn't able to have it moved in the deep snow.  He was in a big hurry and wouldn't wait.

I did take bring home that little pink wreath.   It's hanging  on the front door of my cottage.  It's so soft and sweet.  I put many of my mom's animal figurines in the garden up at the cabin.  They look so happy there.  She would love it.  I have the lace curtains, too.

I wrapped some of the mirrors in terry cloth towels, and hung them in my home.  They bring back so many memories.  I used to polish the antiques and wipe the glass clean  every week as a girl. 

I am so glad that I took photos of everything.  It's a good idea to document what your parents have while they are alive.  If there are any disagreements about the value of their possessions, you have proof.  It's also helpful to have in case of a break in or theft during a move.  

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First Haircut and a Bus Ride

vacation memories from last year

 
Our hair salons in California have opened, so I called the lady that cuts my hair and booked a slot.  She mentioned that she doesn't have much parking at her new location, so I decided to walk.  What a mistake.

It was very hot outside, and I was wearing a new pair of sandals.  I had forgotten how far her shop is from my cottage, and how long it takes to get there.  I used to ride my bike, but won't be doing that anymore.  The highway is too busy, and they are doing construction.  Blisters began to form on my feet, and they started to bleed.

It was all worth it, though.  I got in for my appointment, and I was the only one there.  She did a terrific job, as she always does.  I gave her twice the amount she charges, and she was very appreciative.  She has only been asking for $10.00 per haircut for the twenty years I have been going there.  I had a few inches taken off my red mane, and I feel like a new woman!

I decided to take the bus home.  What I didn't realize is that I would have to wait over an hour for the next one.  I didn't have the schedule with me.  I tried to be patient, and eventually it came.  It made me very grateful that I have a car.  Next time I'll use it.

There were only a few people on the bus, thank goodness.  Everyone was wearing a mask, and we sat far apart from each other.  It was a relief to get home.  I don't think I"ll be doing that again.  There was a man right after me at the shop.  The owner made him wait outside, which I really appreciated.  He was getting in her space and bumping elbows with her, acting like it was cute.  It really stresses me out when men like him don't take this virus seriously.  I sighed and went on with my day.

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Health Insurance

The other day I received a letter from Covered California letting me know that I needed to submit proof of income to them for last year.  I stopped off at my accountant's office today and picked up the tax information that I needed to fax. 

I don't have a fax machine, so I used the service at our local hardware store.  It took a while for Covered California  to receive it, but eventually the pages were all transmitted.  That's a huge relief.  I receive a generous subsidy from our government for my health insurance.  It's important to stay on top of the paperwork in order to qualify.  I'm so glad it's all finished. 

I started watering the trees this afternoon, and stopped as the sky turned grey.  I put the hose away, and then it started to sprinkle.  I'm hoping for a dramatic storm.  So far it's just dark and impending.   

How has the weather been where you live? 

Received A Large Tax Refund After E-Filing

Because of Covid-19, I waited to file my taxes until July 13th.  We  had a three month extension in America, due to  the stay at home order.  Normally I see an accountant in January.

I found a new one up in Wrightwood, and was very happy with her services.  She was organized, efficient and knowledgeable.  It only cost $145.00 to have her prepare my return.  If you are low income, you can also get them done free of charge through VITA.  That's what I usually do.  Our local senior center in Santa Clarita usually has tax professionals  who volunteer each year.  Since my dad died last year, I wanted to hire someone and discuss some of the estate tax forms that were new to me. 

I pay cash for my health insurance, which is my biggest expense.  Continuing to work has really been advantageous.  I received nearly all of the premiums back, and the direct deposit has already showed up in my account!  I transferred it to savings, as I am rebuilding my emergency fund.

My favorite financial guru, Suze Orman, announced on her podcast today that she is in the operating room for surgery.  Please send her thoughts of healing and your prayers.  She is such a force!  Her website is here.

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Up and Down

Yesterday we had a disturbed man in Wrightwood cut the lines in a box affecting all of our cell phones.  He was caught and apprehended in Ventura, and is in jail now.  The wires were repaired and our phones were running again after about four hours of no service.  It made me realize that maybe I should probably have a land line, as well, just in case. 

I have picked up my beloved knitting again.  I decided to start simply, and  made a couple of dishcloths. I'm using a ball of  lovely, soft organic cotton yarn.  It was given to me by one of the leaders of a knitting group I used to attend.  She gave me several skeins.  The pattern I'm working on right now is the basket weave stitch.  I'd forgotten how much I enjoy clicking the needles.  It really does relax me, as long as  I don't overshoot and do something too complicated or frustrating.

I am busy with my writing and am organizing my finances.  We are in the process of closing on a couple of real estate deals.  It feels satisfying to get all of my ducks in a row.  I am happy with my investments and the dividends that they produce.  I have been researching a few companies that I really like, and plan to buy some more stocks.  I got a good deal on Coca Cola.  I think they will be around for a while.  I was amazed to see how many people in Europe drink it regularly, out of a bottle.  It reminded me of the old days when I was growing up in San Mateo, California.

How are you doing?

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I Stained the New Back Door

Today I pushed myself to do something new  and stained the unfinished replacement back door.  It was pretty easy, and I actually enjoyed doing it.  I am not that confident with painting.  In the past I have not been happy with my work.  It looked amateurish and there were some drips.  I think the key is to not put too much material on the brush.  You  can always go back over it.  I also dabbed the heavier spots with a rag.  That worked well.

I completed one coat on the front and the back.  This door is a reproduction of the original one.  I really love it.  It goes with the house.  I have some sealer that I will apply after it dries thoroughly.  I may apply another coat of stain first, since there is plenty left in the container. 

It is a huge relief to have this done.  I had been procrastinating on it, and that made me feel guilty and upset.  Doing what needs to be done is so healthy for our minds and spirits.

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Termites!

I just got an estimate to have my little cottage fumigated for termites.  It's an older home, built in the 1940's.  The man who gave did the inspection told me that it needs to be tented.  Fortunately, it's a very small house.  They will also be replacing some of the wood on the chicken coop and will replace the back door.  Maintenance is a constant when you own property.

It will be a relief when it is all finished.  I need to trim the conifers near the front porch so that they don't touch the wood posts.  The material will be pulled taut between the posts and the trees.  I have electric shears that work very well, and they are light and easy to carry. 

I remember when we first moved to California from Seattle, Washington, my parents decided not to purchase an older, Spanish style home.  Their offer had been accepted, but the  house that didn't pass the termite inspection.  Instead, they chose a newer home that was not as charming, but it was in excellent condition and in the top school district.

 Many years later, they found another Spanish style home in a fantastic neighborhood.  It was worth the wait.  We didn't know the area when they discovered the first place.  I'm glad now they didn't get it.  In retrospect, I can see that it wasn't located in a very appealing neighborhood.  My whole destiny would have been different regarding friends, dance training and schools.  In those days we thought the whole house would fall down if you had termites.   

Have you ever had them at your residence?  They are common in California. 

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I Got My Stimulus Check!

The other day, while checking my bank balance, I noticed that the IRS had deposited  $1,200.  into my account.  I have it set up with direct deposit.  I was thrilled.  I transferred the money from my checking account into my savings.  There's no time like this pandemic to have an emergency fund. 

Suze Orman explained  on her latest podcast that the paper checks will take much longer to receive in the mail than the direct deposits.  You can go on the IRS's website and enter your account information there.  I'm so glad that I already had it set up for several years.  My accountant typed it onto my tax return form.  I get a refund on my health insurance, as well.  That's my largest expense. 

I'm sorry that I haven't been around on many of your blogs lately.  I was catching up on some much needed housecleaning.  I have also spent hours weeding in the garden.  There is still much more to do.  The new fruit trees have made the backyard feel very peaceful and spiritual.  Everything is getting so green; the sumac is rapidly climbing along the back fence.

I am so excited about how the front garden is looking.  It  really is spectacular.  I have dreamed of having roses for twenty years, and now I have three bushes that are in bloom.  They have completely changed the energy in front of the cottage.  Flower power...  

Our tax deadline was extended; that is my next project.  It's always a relief to have  taxes completed.  Itemizing my deductions is on the agenda over coffee tomorrow.  What are you up to at home these days? 

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Faith in the Abundance of Fruit Trees

These are some of the berries and a small fig tree that I just put in the ground

 
I have one more fruit tree to dig into the ground, an Anna Apple.  It's a variety that grows well in Santa Clarita.  It feels good to be working towards the future by planting fruit trees and vegetables.  The more I can shop at home in my garden,  the better.  I have small potted  live herbs in my kitchen window sill.  Some of the ones I planted in the potager garden  last year have made it through the winter.  Meals taste so much better with the  fresh sage, rosemary, and lemon thyme.  I picked up some small containers of green oregano, peppermint,  and basil, too.   I love the tiny leaves.

My neighbors had told me that our local stores were out of many of the basics.  I had done a big shop at Costco before the virus became an issue, so I was pretty well set.  When you buy in bulk, and you live alone, you don't have to shop as often as those who are feeding growing children.  I picked up an extra bag of dog food for Lula, and a second bag of French roast coffee beans for me.  I keep canned milk in the cupboard in case of an emergency.  At least with that I know that I can savor my morning cup of steaming hot coffee!  That means the world to me.

The ruby red grapefruit tree is covered with blossoms and some green fruit

I decided to see how things were going up in Wrightwood, at the cabin.  I stopped by their local grocery store, and was excited and relieved to find that they had everything, except toilet paper.  There were signs limiting people to one bag of sugar, flour, and other staples.  I bought a bag of Granny Smith apples, a head each of cabbage  and lettuce, a few onions, and some canned tomatoes and tomato paste.

I also purchased some pasta and sauce, for convenience.  I went home and made a tuna and noodles casserole, like my mom used to make.  I seasoned it with plenty of white pepper; that was always her trick.  It tasted so satisfying.  This is an opportune time to enjoy home cooking and baking from scratch.  It gives us a feeling of comfort.  I am doing all I can to avoid the creeping emotion of sick dread.  It takes effort and discipline.

I chatted on the phone with my close friend Mark, in New York.  He told me about the groceries that he had bought, and mentioned that there was plenty of food in the stores there.  He is able to work from home, and is still getting paid, so that's a relief.   I talked with a few of my neighbors, and was pleased to hear that they are all doing well, too.   

Do you have enough food?  How are you feeling during these challenging times?

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Going Through Your Parents' Things

Yesterday I drove back home with another car load full of items that once belonged to my parents.  It's been a long  and tiring day today.  I am slowly getting rid of things at the cabin that are not my style, or that I'm not using, and replacing them with gorgeous items  that belonged to my mom.  She had impeccable taste.

I redid the tiny upstairs bathroom today, and am so pleased with how it looks.  I replaced the 1950's curtains that were dusty, heavy, and dark green.  In their place, I hung some cream colored lace curtains.  They look so light and feminine.

I put a lovely rose quartz stone lamp on top of the vintage toilet.  I gives a warm glow to the room.  I also hung a pretty print with roses that my mom had in her home. 

I draped a pink shawl I have over the light fixture.  It gives the room some texture and is a lovely shade of pink. 

I also hung up my favorite towels from my parents' master bathroom.  They are a soft, pale green, with pink flowers.  My mom had them just for decoration.  They are still in perfect condition.  She took such good care of her things. 

The little bathroom upstairs is now totally transformed.  I adore it.  I even keep the door open, to show it off to people when they climb up to the bedrooms.

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Who Will Inherit Your House?

Today I met with the woman who wrote my trust.  We were redoing some things since my dad  passed away last year.  I  replaced a couple of people handling the financial side of things.

As we were reviewing the new trust, she told me, "Well, the way it reads now, if something happens to your friend, The Salvation Army will inherit your cottage and its contents."  I freaked out.  "YOU want me to leave money to charity!" I exclaimed.  "I am not comfortable having The Salvation Army in here.  "I will give  money and time to charity while I'm alive," I told her.  And I do...  

There were some tense moments and an explanation of taxes, limitations, and IRS rules.  It was decided that I will leave my house to another close friend if something happens to the first  person.  She is ten years older than I am. 

I'm telling you this so that it doesn't happen to you.  Can you imagine?  What a disaster that would have been.  I have spent a lot of money and time working to get all of my must have documents done correctly.  Thank God she told me.  

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Opening An Account At A Discount Brokerage

Today I opened an online brokerage account at TD Ameritrade.  I was surprised at how easy it was.  You just fill out the application as directed, and voila, you have your own account.  I set mine up in about five minutes. 

Once we sell my parents' house, I plan to transfer my third into a few different areas.  I will set aside five years of living expenses in cash and CD's.  It sounds like a lot, but at my age, and in my situation, that makes me feel secure.

I will buy some dividend paying stocks, ETF's, bonds, and index funds.  I have my eye on a small, tree filled piece of land up in Wrightwood that is gorgeous. 

I think many women and artists are nervous about the stock market, and so they avoid investing.  I started out with some stocks that I inherited from my father after he died.  I took his advice, and didn't do any trading.  "Just leave them," he told me.  It's worked out very well. 

You have to be careful after the death of a parent, because so many brokers, lawyers, accountants, bankers, and other people will try to influence what you do with your money.  Everybody wants your account. 

I mapped out my steps carefully on paper, after researching what Suze Orman and Dave Ramsey teach.  I also followed my gut with real estate, since that has been enjoyable and  profitable for me in the past.  We all have different areas where we feel secure and confident.  

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Confronting Workers Who Cut Corners

The roof is finished, and I'm very happy with it.  I did have a small glitch, though.  I overheard the men whispering up on the roof.  My intuition and Lula, my dog warned me.  I went out to check on things.  They had blow torched the first layer, and already nailed it down into the wood.  I noticed a  piece of the original frame underneath that was old and tattered.  It hadn't been replaced. 

I pointed it out to one of the workers, and he acted like a teenager.  "You want to talk to my boss?" he challenged me.  "He's my boss," he continued, sarcastically cmotioning to another roofer with a big smile.  I spoke with him, but he speaks mostly Spanish.  We can have a conversation, but not at the level I needed to for this subject.

I was very concerned that it was almost too late, so I immediately called the woman who had booked the job with me at the office.  I told her that they were laying the top covering over some old wood, and that I needed for the owner to come by immediately. 

He wasn't available, but she called one of them on their cell phone.  They stopped working and went home.  She had to come back the next morning, which wasn't on the schedule.  I don't know what she said to them, but it obviously worked. 

It's so important to say something right away, and not to wait.  I always try to contact the owner.  That is who gave me the estimate for this job.  The next day, they cut the nails, removed the bad piece of wood, and replaced it.  I got up on a ladder and checked everything.  I had a binder, my glasses, and pen, and paper.  I went into ballet teacher mode.  When you are spending several thousand dollars, you want things done right, the first time.

Has anything like this ever happened to you?  How did you handle it? 

Thank you for your comments.  They add so much talent and energy to the blog.  Please comment in English.  I'm sorry, but comments with links will not be published.  If you enjoy the posts here, please share them.  Comments may take a few days to appear; they are moderated.