Repairing a trashed image

[clo]

2 hours ago, AF-1 said:

Does the percentage of your RMD change every year; or is it the same amount?

What is the RMD for 2020?

What this tells you is that if you're 72 years old, then according to the IRS life expectancy tables, you're expected to live another 25.6 years. So if you turn 72 in 2020, then to determine this year's RMD, you'd take your account balance as of Dec. 31, 2019. You'd then divide it by 25.6.Jan 4, 2020

 

New Retirement Account Required Minimum Distribution Rules For ...

 

I've never looked it up before. For us it's about 4%. So yeah with the increase in value the distribution would be higher.

[Roz]

33 minutes ago, AF-1 said:

Thanks Roz.  Appreciate your answer

 

Bottom line is, it varies year to year.  It's based on actuarial tables.  If Uncle Sam doesn't get your money while you're alive, your beneficiaries then come under RMDs.  I ran into this when my aunt and mother died and name me as one of the beneficiaries on their IRAs.  I used some of that "found" money to fund my cruise addiction. Going thru withdrawal now.

Edited April 11, 2020 by Roz

[clo]

4 minutes ago, Roz said:

 

Bottom line is, it varies year to year.  It's based on actuarial tables.  If Uncle Sam doesn't get your money while you're alive, your beneficiaries then come under RMDs.  I ran into this when my aunt and mother died and name me as one of the beneficiaries on their IRAs.

Here's more info than most people want to know.

 

https://www.fidelity.com/building-savings/learn-about-iras/inherited-ira-rmd

[AF-1]

All good info.  Thanks for sharing these tables.  

[cruisemom42]

Getting back to the original theme of repairing a trashed image, I read this on another board -- it's from CLIA and is aimed at the recent CDC statement extending the "no cruise" period. Sometimes I think CLIA (the cruise line trade association) is just tone-deaf. Even if they think they are right, this isn't the time to be trumpeting that. Might be better to focus on what they are doing to help (if anything) and how they are ensuring this doesn't happen again:

 

"We are, however, concerned about the unintended consequences the No Sail Order issued on April 9 has in singling out the cruise industry, which has been proactive in its escalation of health and sanitation protocols and was one of the first industries to announce a voluntary suspension of operations.  While it’s easy to focus on cruising because of its high profile, the fact is cruising is neither the source or cause of the virus or its spread. What is different about the cruise industry is the very stringent reporting requirements applicable to vessels that do not apply to comparable venues on land where the spread of communicable disease is just as prevalent. It would be a false assumption to connect higher frequency and visibility in reporting to a higher frequency of infection."

 

https://cruising.org/news-and-research/press-room/2020/april/clia-statement-regarding-no-sail-order

 

[AF-1]

The article focuses on this one group; who lobby congress for their cause; which is to support the cruise industry.  Of course they are upset with the CDC's new ruling of no cruises in us ports thru July.  

[Aquahound]

3 minutes ago, AF-1 said:

The article focuses on this one group; who lobby congress for their cause; which is to support the cruise industry.  Of course they are upset with the CDC's new ruling of no cruises in us ports thru July.  

 

Good point.  I can't say I totally agree with CLIA's statements, but I think its a little unfair to pile on them for standing up in support of their one major stakeholder.  The cruise lines deserve to have a voice and CLIA is it.  After all, it was through CLIA that all the cruise lines agreed to the initial voluntary 30 day closure. 

[AF-1]

Aquahound,  yes you are correct.  This organization is no different the ALPA, (airline Pilots Association), UAW, Teamsters.  They represent a group who feel they have been singled out.  We shall see how it all shakes out.  Have a great day

[clo]

3 hours ago, cruisemom42 said:

Might be better to focus on what they are doing to help (if anything) and how they are ensuring this doesn't happen again:

That was my reaction when I first read that. Is this their typical way of responding to problems?

[cruisemom42]

7 minutes ago, Aquahound said:

 

Good point.  I can't say I totally agree with CLIA's statements, but I think its a little unfair to pile on them for standing up in support of their one major stakeholder.  The cruise lines deserve to have a voice and CLIA is it.  After all, it was through CLIA that all the cruise lines agreed to the initial voluntary 30 day closure. 

 

I thought their goal was to promote a positive view of cruising and increase business for their clients. They are not lawyers defending a guilty client.

 

Their website says: "CLIA supports policies and practices that foster a safe, secure, healthy and sustainable cruise ship environment and is dedicated to promoting the cruise travel experience."

 

If that's the case, this doesn't seem like the way to go about it at this time. Most who've read it and commented on it (on the other board) had a negative opinion of it. I also feel that their argument is disingenuous at best, focusing on one thing but ignoring the bigger picture -- which is that cruise ships turned out to be unexpectedly bad places to be during the spread of this pandemic.

 

 

[Aquahound]

12 minutes ago, cruisemom42 said:

I thought their goal was to promote a positive view of cruising and increase business for their clients. They are not lawyers defending a guilty client.

 

Their website says: "CLIA supports policies and practices that foster a safe, secure, healthy and sustainable cruise ship environment and is dedicated to promoting the cruise travel experience."

 

If that's the case, this doesn't seem like the way to go about it at this time. Most who've read it and commented on it (on the other board) had a negative opinion of it. I also feel that their argument is disingenuous at best, focusing on one thing but ignoring the bigger picture -- which is that cruise ships turned out to be unexpectedly bad places to be during the spread of this pandemic.

 

You conveniently left out the sentence preceding "supports policies"  that says "Established in 1975, Cruise Lines International Association (CLIA) is the world’s largest cruise industry trade association, providing a unified voice and leading authority of the global cruise community."  

 

That's what they're doing.  They're providing a voice.  

 

Agree with them or not, I don't care.  I very clearly said in my last post that I also don't totally agree with their statements.  However, I have wider vision and I can see what they're trying to do.  

[iancal]

The CLIA is not a consumer organization.  It is an cruise industry association.   I do not think that we should expect anything different from them.  It would be like asking the auto manufacturer's association to promote safety over profit.

[Ombud]

On 4/9/2020 at 7:38 AM, clo said:

That was our situation in '08. We came all the way back in about 18 months. During that time we made lifestyle changes, including NO travel. It's what we're anticipating now.

I'm planning on covering my cruise costs with FCC and noticed that future cruises during this time (thru 2021) seem to be higher. Even so, I can still fit 3 cruises in

[cruisemom42]

44 minutes ago, iancal said:

The CLIA is not a consumer organization.  It is an cruise industry association.   I do not think that we should expect anything different from them.  It would be like asking the auto manufacturer's association to promote safety over profit.

 

Good point.

[clo]

12 minutes ago, Ombud said:

I'm planning on covering my cruise costs with FCC and noticed that future cruises during this time (thru 2021) seem to be higher. Even so, I can still fit 3 cruises in

You have enough FCC for THREE cruises? Wow! We also factored in airfare, hotels pre/post, meals out, really anything. We spent not a dime on travel for 18 months. But we were retired then.

[K32682]

My expectation is the holders of FCC will soon be known by a new name: Unsecured creditors.  

[clo]

2 hours ago, K32682 said:

My expectation is the holders of FCC will soon be known by a new name: Unsecured creditors.  

VERY good point.

[ilikeanswers]

Normally I would not be so opposed to credit but with this situation where we don't know how long it will last and what the industry will look like at the end of it, I think having my money tied up with these companies is more risk than I would be willing to take😳. 

[iancal]

There are two learnings here.  Never pay before final payment is due.  Always pay by credit credit, NEVER by debit or cash.

 

I suspect that some avid cruisers will get back at cruising as quickly as they can.  For the occasional cruiser, or those with families I suspect that recent events will put them off cruising for some time to come.   There are many other vacation options.

[Roz]

1 hour ago, iancal said:

 There are many other vacation options.

 

I wonder if places like Disneyworld, Dollywood, Six Flags, etc.  will come under restrictions.  

[clo]

2 hours ago, Roz said:

 

I wonder if places like Disneyworld, Dollywood, Six Flags, etc.  will come under restrictions.  

I believe they're all closed. I just read something about Disney and certain benefits for certain laid off workers.

[Roz]

11 minutes ago, clo said:

I believe they're all closed. I just read something about Disney and certain benefits for certain laid off workers.

 

I was referring to what will happen when they reopen.  Issue masks along with tickets?  Limit how many people can be in park at one time and how many can stand in line for attractions with pavement markings to keep people apart?  Mandatory hand sanitizer stations?

[MrRandal]

15 minutes ago, clo said:

I believe they're all closed. I just read something about Disney and certain benefits for certain laid off workers.

 

Of course they are all closed, every theme park in the world is closed. Did you know Disney has 11 theme parks (or gates, as they call them) throughout the world? Massive losses, and like the cruise industry, no end in sight. 

[Aquahound]

11 minutes ago, Roz said:

 

I was referring to what will happen when they reopen.  Issue masks along with tickets?  Limit how many people can be in park at one time and how many can stand in line for attractions with pavement markings to keep people apart?  Mandatory hand sanitizer stations?

 

That's a good question.  And what about concerts, sporting events, etc?  It'll be interesting to see what safety precautions are implemented through the remainder of this year. 

 

Related to cruising, I've already seen reports of planned smaller passenger loads to decrease onboard crowding. 

 

This pandemic has already changed some corporate culture related to teleworking, etc, so I'm hoping it changes corporate culture in cruising related to decreased space/passenger ratios. 

Edited April 12, 2020 by Aquahound

[clo]

6 minutes ago, MrRandal said:

 

Of course they are all closed, every theme park in the world is closed. Did you know Disney has 11 theme parks (or gates, as they call them) throughout the world? Massive losses, and like the cruise industry, no end in sight. 

Er, no. Never been to one, never wanted to go to one.