Repairing a trashed image

[AF-1]

Hank,  I like your thinking.  I see change coming to the entire travel industry.  Ships, planes, automobiles, and hotels.

[OnTheJourney]

23 hours ago, iancal said:

On the journey.....If we are on a land trip in Europe, for example we will keep our eye out for a good last minute cruise offer. .  We have  done this numerous times in Europe and in the Caribbean. If we see a cruise that works we consider it.  If not we carry on with our land arrangements. We typically only make hotel arrangements etc. a few days in advance in order to keep our schedule very flexible.

 

 One of the last ones we picked up was Rome to Barcelona.  We were in Palermo and had been traveling for six weeks.  The cruise was perfect timing.  We simply flew to Rome.   Better yet, it had excellent cruise air home-we started the trip with a one way ticket.    We wanted to do some land travel in South and Central America.  We bought a SA cruise.   Wrapped a month of independent land travel around the two week cruise.  Did it in Australia two winters ago.  Picked up a last minute 21 day Oz/NZ cruise.

 

 

You are far more adventurous - and travel for longer periods of time - than we are. If I'm going to Europe or anywhere else outside the US or Canada, I want to have everything pre-booked ahead of time. (I even do that with traveling around the US thereby 'locking us' - I guess you could say - into an itinerary). The only DIY travel we do is fly/drive trips (or just driving) here in the  US. Have not been to AUS or NZ yet but that, too, will be an organized, fully-escorted tour. I have little interest in a cruise down that way. For me, any trip that gets to be 3 weeks or so is plenty long enough. Too much to hassle to worry about arranging for others to care of things at home and property, pets, etc. to be away longer. Funny you mention Rome to Barcelona....that's the complimentary "chairman's cruise" we have booked, scheduled for January on the new Viking Venus. Non-public sailing. Fingers crossed on that one since it's sort of a once-in-a-lifetime opportunity. Now for that I do have a few extra days already booked in Rome at a hotel and will do some sightseeing. 

Edited April 10, 2020 by OnTheJourney

[iancal]

We have been reading a fair amount about the Australian Ruby Princess situation. 

 

Austrian police boarded the ship yesterday to sieze media and interview crew members and staff. 

 

 No matter what the outcome or findings- as this situation gains more international media attention it will only serve to cloud the industry reputation IMHO.

Edited April 10, 2020 by iancal

[OnTheJourney]

..and likely engender increasingly negative feelings, especially among the non-cruising segment of the population. Enough has already been said and done to strengthen the concept of ships being like "floating petri dishes". All you have to do is look at youtube comments of late. 

Edited April 10, 2020 by OnTheJourney

[clo]

2 hours ago, Hlitner said:

A few here know we are avid cruisers and have been cruising, extensively, for over forty years.  We still have 4 booked cruises, totally 86 days, but it is now likely that at least one of those will be cancelled.  While the cruise industry talks about special doctors forms, extensive health screenings, eliminating buffets, etc.  this does nothing to lure me back to extensive cruising.  Perhaps the cruise line needs to provide me with doctors notes that cover the entire crew, proof that all air filters on the ship have been converted to HEPA filters and changed on a regular basis, that all luggage coming aboard goes through some kind of disinfection procedure, and that the cruise line provides me with written proof, from each of the ports, that they will be allowed to dock or tender.  We, the passengers, are only a small part of the equation with the cruise ship being the other major part.  

 

Hank

It just occurred to me that CDC can keep the US part anyway locked down as long as they deem necessary. And I just saw a headline that the olympics next year in Japan is already in question. I'm guessing Europe isn't going to rush into anything either. Really anywhere. If I had to put money on it, I'd say the industry will change significantly for a long time, maybe always.

[clo]

1 hour ago, OnTheJourney said:

You are far more adventurous - and travel for longer periods of time - than we are. If I'm going to Europe or anywhere else outside the US or Canada, I want to have everything pre-booked ahead of time. (I even do that with traveling around the US thereby 'locking us' - I guess you could say - into an itinerary). The only DIY travel we do is fly/drive trips (or just driving) here in the  US. Have not been to AUS or NZ yet but that, too, will be an organized, fully-escorted tour. I have little interest in a cruise down that way. For me, any trip that gets to be 3 weeks or so is plenty long enough. Too much to hassle to worry about arranging for others to care of things at home and property, pets, etc. to be away longer. Funny you mention Rome to Barcelona....that's the complimentary "chairman's cruise" we have booked, scheduled for January on the new Viking Venus. Non-public sailing. Fingers crossed on that one since it's sort of a once-in-a-lifetime opportunity. Now for that I do have a few extra days already booked in Rome at a hotel and will do some sightseeing. 

Barcelona is one of our favorite places IN THE WORLD. We could live there. Do spend some time here please. 

[ontheweb]

11 minutes ago, clo said:

It just occurred to me that CDC can keep the US part anyway locked down as long as they deem necessary. And I just saw a headline that the olympics next year in Japan is already in question. I'm guessing Europe isn't going to rush into anything either. Really anywhere. If I had to put money on it, I'd say the industry will change significantly for a long time, maybe always.

Where did you see that the Olympics NEXT year in Japan is already in question. All I have seen is that this year's Summer Olympics which Japan was supposed to host has been postponed for up to a year. And Japan only seemed to agree to that after several countries said they were not sending athletes this year.

[clo]

5 minutes ago, ontheweb said:

Where did you see that the Olympics NEXT year in Japan is already in question. All I have seen is that this year's Summer Olympics which Japan was supposed to host has been postponed for up to a year. And Japan only seemed to agree to that after several countries said they were not sending athletes this year.

Here ya go:

 

https://www.si.com/olympics/2020/04/10/tokyo-olympics-ceo-2021-summer-games-in-doubt

 

There were a number of citations in case you want more info

[ontheweb]

2 minutes ago, clo said:

Here ya go:

 

https://www.si.com/olympics/2020/04/10/tokyo-olympics-ceo-2021-summer-games-in-doubt

 

There were a number of citations in case you want more info

Thank you, that was enough. I think after being criticized for acting as if the Olympics were going to be held this year, they are now being overly cautious in what they say.

[clo]

3 minutes ago, ontheweb said:

Thank you, that was enough. I think after being criticized for acting as if the Olympics were going to be held this year, they are now being overly cautious in what they say.

It's going to depend on a lot of factors. If they wait for a vaccine, that would likely be mid-fall 2021. If various governments won't allow their athletes to participate without a GOOD vaccine....  And on and on.

[Toofarfromthesea]

4 hours ago, navybankerteacher said:

Of course, the way you look at a 401k has to evolve.  In your 20’s you have to discipline yourself to defer current wants and put anything in;  in your 30’s, 40’s and 50’s you need to think very long term; in your 60’s you have to start thinking “harvest” rather than “planting”.  And, Buffett aside, you DO have to consider selling your stock — so a downturn needs to built into your plans.  That’s why security becomes increasingly important vis a vis growth as you age.  The “years to 100” rule makes sense in equity allocation.  When you are 30 and have 70 years at least 70% should in growth (ie equity), at 85, for example, more than 15% at risk of downturn is reckless.

 

More importantly, don't get sucked in by the siren of tax deductibility.  Getting a tax deduction is a clever device to keep you from realizing that traditional IRAs and 401Ks are ways to turn what would have been lightly taxed capital gains into fully taxed ordinary income.  In almost all cases giving up the deduction and going with the Roth IRA or 401K is much better in the long run.

[navybankerteacher]

46 minutes ago, Toofarfromthesea said:

 

More importantly, don't get sucked in by the siren of tax deductibility.  Getting a tax deduction is a clever device to keep you from realizing that traditional IRAs and 401Ks are ways to turn what would have been lightly taxed capital gains into fully taxed ordinary income.  In almost all cases giving up the deduction and going with the Roth IRA or 401K is much better in the long run.

You seem to be missing a key point - during your highest earning/taxed years you are not declaring - or paying 24% or 30%, or whatever rate tax - on the earnings you have set aside — and  when you do take it out in later years most of your income will be taxed at much lower rates (if at all)— after having enjoyed tax-free growth until starting to draw it down.  

 

A lot of the money I put into 401k over the years would have been taxed at 35% had I not set it aside (and because I was setting it aside, my employer matched half of it)  now only a tiny bit - if any - slips into the 24% bracket. 

Edited April 10, 2020 by navybankerteacher

[InDaPast]

5 hours ago, Hlitner said:

the cruise industry talks about special doctors forms, extensive health screenings, eliminating buffets, etc.  this does nothing to lure me back to extensive cruising.  Perhaps the cruise line needs to provide me with doctors notes that cover the entire crew, proof that all air filters on the ship have been converted to HEPA filters and changed on a regular basis, that all luggage coming aboard goes through some kind of disinfection procedure,

 

Damn...wish I had said that...brilliantly put.

[OnTheJourney]

9 hours ago, clo said:

Barcelona is one of our favorite places IN THE WORLD. We could live there. Do spend some time here please. 

 

Sorry...won't be able to, since we're doing a B2B. The chairman's cruise ends in Barcelona, and the next day we leave. 

[clo]

5 minutes ago, OnTheJourney said:

 

Sorry...won't be able to, since we're doing a B2B. The chairman's cruise ends in Barcelona, and the next day we leave. 

 

At least do a tour that includes Sagrada Familia (go inside). And return. It's a wonderful city.

 

Edited April 11, 2020 by clo

[OnTheJourney]

I'll check it out once excursions become available. I'll just be happy if we get there at all. 

[clo]

2 minutes ago, OnTheJourney said:

I'll check it out once excursions become available. I'll just be happy if we get there at all. 

I hope you get there also. And we just did a HOHO bus. Easy peasy.

[OnTheJourney]

We can hope for the best. Can't help but wonder if the travel industry, in general, will always be able to recall the demarkation between pre and post corona virus. 

[navybankerteacher]

48 minutes ago, OnTheJourney said:

We can hope for the best. Can't help but wonder if the travel industry, in general, will always be able to recall the demarkation between pre and post corona virus. 

It will be another watershed event - similar to NCL’s introduction of “Freestyle”, which inaugurated the downward slide of all mass market lines into the Walmart era of vacation travel.

[ldubs]

9 hours ago, navybankerteacher said:

You seem to be missing a key point - during your highest earning/taxed years you are not declaring - or paying 24% or 30%, or whatever rate tax - on the earnings you have set aside — and  when you do take it out in later years most of your income will be taxed at much lower rates (if at all)— after having enjoyed tax-free growth until starting to draw it down.  

 

A lot of the money I put into 401k over the years would have been taxed at 35% had I not set it aside (and because I was setting it aside, my employer matched half of it)  now only a tiny bit - if any - slips into the 24% bracket. 

 

We also had a very generous employer match.  It is an incredible benefit.   With that kind of return I wouldn't complain paying the highest tax bracket.  Though as it is I'm still a couple of years away from the RMD.  

[clo]

3 minutes ago, ldubs said:

RMD

Did you see that we old folks aren't going to have to take it this year? Since ours was worth FAR more at the end of '19 than now that option is pretty wonderful. 

[ldubs]

Just now, clo said:

Did you see that we old folks aren't going to have to take it this year? Since ours was worth FAR more at the end of '19 than now that option is pretty wonderful. 

 

Yes Clo, I saw that.   

[AF-1]

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

[Roz]

From the IRS website:

 

Your RMD amount is calculated by dividing your tax-deferred retirement account balance as of December 31 of last year by your life expectancy factor. Your life expectancy factor is taken from the IRS Uniform Lifetime Table.

[AF-1]

Thanks Roz.  Appreciate your answer