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Benefits of Being A Corvette Loving Octogenarian

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  • Benefits of Being A Corvette Loving Octogenarian

    Approaching my third year of octogenarianship, I'm starting to see some benefits in having survived to this esteemed decade identification.

    Reading through posts on this forum has definitely brought forth one extremely relative fact, "get it now, because....".

    It has definitely made ordering my C8 much easier since I don't have to conjure up delaying excuses such as, I don't want a first year model, I'm going to wait for a ZO6, I'm going to see it there will be a Grand Sport etc. etc.

    Expense be dammed, I'm going to order EXACTLY what I want right now.
    It's an age where the financial reserves are being more defined, and the adage of "if I don't spend it, my heirs will" begins to have some revelation.

    And if fate deems that I'll still be taking nourishment on my own when I feel something better comes along, we might start the ordering process all over again.

    Also, it qualifies me to be a UFO, which is a group of pilots called the United Flying Octogenarians. To qualify you have to have been pilot in command of an aircraft at the age of 80, or over. Once you have done this you are a UFO forever, as long as you pay your $20 annual membership fee! Currently there are about 1800 members.

    I'm told my order goes in January, so am thinking an April delivery.
    Glorious way to start number 83!!
    Cape Cod Taxachusetts

    3LT AYM Coupe. Z51, Mag Shocks, Yellow Calipers. Black Interior, Black Suede Seats, Yellow Stitching. Yellow Seat Belts.
    Illuminated Sills. Front and Rear Splash Guards. Chrome Wheel Locks, NCM Photo Album Program
    3000 TPW ????????????

  • #2
    Awesome.

    Comment


    • #3
      Awesome 👍👍
      Arctic White 2LT, G8G, HUL, F9, AH2, 5ZZ, E60, STI, SHW J6F, Q8Q, RCC, Z51, ZYC.

      Comment


      • #4
        Congrats on all counts! Enjoy that new ride!

        Comment


        • #5
          You know you are getting up there in years when a five year membership costs more than a lifetime membership

          I was just looking at my IRA, specifically, the minimum required distribution. The older you are, the higher the percentage of your IRA balance you must withdraw to avoid a penalty. So, the older you are, the more of your nest egg you can raid without guilt.

          Don't be like my recently deceased friend, the real Milliwatt Rob. He went into the nursing home with $115,000 in the bank and a no mortgage house, and the nursing home got it all.

          He was so thrifty, particularly with electricity,, that he removed the bulb from the interior of his refrigerator. True story.

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          • #6
            Originally posted by Milliwatt Rob View Post

            Don't be like my recently deceased friend, the real Milliwatt Rob. He went into the nursing home with $115,000 in the bank and a no mortgage house, and the nursing home got it all.

            He was so thrifty, particularly with electricity,, that he removed the bulb from the interior of his refrigerator. True story.
            Ray
            Kind of had some of your Rob stories in mind when I decided to pen this post!!
            Thanks

            Cape Cod Taxachusetts

            3LT AYM Coupe. Z51, Mag Shocks, Yellow Calipers. Black Interior, Black Suede Seats, Yellow Stitching. Yellow Seat Belts.
            Illuminated Sills. Front and Rear Splash Guards. Chrome Wheel Locks, NCM Photo Album Program
            3000 TPW ????????????

            Comment


            • #7
              Originally posted by Milliwatt Rob View Post
              I was just looking at my IRA, specifically, the minimum required distribution.
              BTW, the Secure Act signed into law last week raises the required minimum withdrawal, or RMD, age to 72 from 70½.

              Comment


              • #8
                Originally posted by Boomer View Post

                BTW, the Secure Act signed into law last week raises the required minimum withdrawal, or RMD, age to 72 from 70½.
                72 whizzed by in 2019. I am planning to take my RMD for 2020 in December 2020, then the next month taking the RMD for 2021. Add that to what I should get for my C7, hopefully some discounting in a year, and maybe selling some other toys I rarely use, and an order for a 2LT convertible with Z51 and FE4 will go into the system.

                Comment


                • #9
                  Originally posted by Milliwatt Rob View Post

                  72 whizzed by in 2019. I am planning to take my RMD for 2020 in December 2020, then the next month taking the RMD for 2021.
                  I'm not in the RMD club but wouldn't it make sense to take your 2020 RMD in Jan 2020 rather than December 2020? That way you have use of the funds for all of 2020 with the same tax liability.

                  OTOH, I guess any investment return on that money in the IRA would accumulate without tax liability during 2020 if you kept it in the IRA till Dec 2020.
                  Last edited by Boomer; 12-28-2019, 02:52 PM.

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                  • #10
                    The best argument for taking the 2020 distribution in early 2020 is if I feared a 2008 style market melt down. But if that occurred, I probably would just keep driving my C7

                    Comment


                    • #11
                      Originally posted by Milliwatt Rob View Post
                      The best argument for taking the 2020 distribution in early 2020 is if I feared a 2008 style market melt down.
                      I'm prepared for that by maintaining my measly 18.50% equity allocation which has involved lotsa selling. Proceeds dumped into 2yr Treasuries. Bring it on...

                      Comment


                      • #12
                        Although I’m still a couple of years from octogenarian status all of USCANAM points hit home. I thought my 2017 would be my last Vette, then along came the C8. Now like everyone else I’m impatiently waiting for my loaded Coupe to arrive in late Spring or early Summer. Also ready to order a set of RRMs awesome after market wheels

                        I have enough knowledge of stories like Robs that provide ample motivation. And 2-3 years from now if no alligators have jumped up and bit me in the *** I’ll probably be looking forward to something new.

                        Comment


                        • #13
                          I too am benefiting from learning about Corvettes since 1953 when my and my girlfriend went to a Chevy dealer and saw one. After the wedding we have gone to many car shows and owned a variety of show cars. Corvettes were the best and I collected a brochure for every year produced. Also the Helms manuals starting in the 60's. I have helped restore many and joined the NCRS as members will help anyone trying to restore or repair a vintage Corvette. This forum is and will be a good place to describe experience with the C8. All sources of real data helps with the ownership. I don't feel like an expert but I do know how to find an expert and all those experts are Corvette owners. Charlie aka cutnout

                          Comment


                          • #14
                            Me too.....I have enough to get to the finish line so there is no need to compromise.....I have met my responsibilities to the gene pool and the gross domestic product....when I do get a new car, I just laugh when the closer tries to sell me a lifetime service contract.....

                            I just renewed my drivers license for six years and thought......what do I want to drive for a few years......and the C8 was the obvious choice....it can't get here to soon.

                            Comment


                            • #15
                              Originally posted by USCANAM View Post
                              Approaching my third year of octogenarianship, I'm starting to see some benefits in having survived to this esteemed decade identification.

                              Reading through posts on this forum has definitely brought forth one extremely relative fact, "get it now, because....".

                              It has definitely made ordering my C8 much easier since I don't have to conjure up delaying excuses such as, I don't want a first year model, I'm going to wait for a ZO6, I'm going to see it there will be a Grand Sport etc. etc.

                              Expense be dammed, I'm going to order EXACTLY what I want right now.
                              It's an age where the financial reserves are being more defined, and the adage of "if I don't spend it, my heirs will" begins to have some revelation.

                              And if fate deems that I'll still be taking nourishment on my own when I feel something better comes along, we might start the ordering process all over again.

                              Also, it qualifies me to be a UFO, which is a group of pilots called the United Flying Octogenarians. To qualify you have to have been pilot in command of an aircraft at the age of 80, or over. Once you have done this you are a UFO forever, as long as you pay your $20 annual membership fee! Currently there are about 1800 members.

                              I'm told my order goes in January, so am thinking an April delivery.
                              Glorious way to start number 83!!
                              Way to go brother!!! That is true Corvette passion. I hope you enjoy every single mile you put on your C8!!!!!

                              Comment

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