Talk of The Villages Florida - Rentals, Entertainment & More
Talk of The Villages Florida - Rentals, Entertainment & More
#31
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(Geez. I gotta get outa here. I am turning into one of those people who hangs out on the internet all day. Today, I seem to be in need of an intervention. Maybe I should say something political or really mean and get into trouble and get benched. Might be a way out. ) Boomer
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Pogo was right. |
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#32
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Thinking about this more, the RMD is based upon the closing value of the IRA at the end of year. So if the market is ramped into the end of the year, and then sells off by 30%, you are taking a big hit on the total asset values by the calculation of the RMD, if you have to take a significant percentage out when the market is down 30%. . . I still don't get the logic unless the increase is at a very low to zero tax rate, based upon social security and the taxable limit of tax free income. . so if the social security is $35K and you are allowed an extra $20K of income prior to taxation, and your RMD is $10K, then yes, taking an additional $10K out with very low taxes makes sense, as long as it then goes back into investments. . . something like that makes sense, but many RMD put them over the limit. . anyway, much more fun than corporate finance at 64 |
#33
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When I was doing those conversions to Roth, my aforementioned CPA#1 said I was trying to free my money from its prison long before its sentence was up.
That was exactly it. Boomer
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Pogo was right. Last edited by Boomer; 01-25-2022 at 06:19 AM. |
#34
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Left a lot of money on the table but he slept very soundly at night and it's well worth it
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#35
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2% 3% 4%
If you live in The Villages then the odds are I you did pretty well in life. Further you probably saw the very expensive house up North and probably paid cash for the house year so you really do need a lot to live on and your Social Security probably pays most of what you really need so whatever Capital you really have just don't take a cruise every 3 months and you should do fine. If you can't afford to live the way you're living now it's really simple move 2 North Florida buy a $100,000 house and you're still has several hundred thousand Capital to live off of. Or have generous children like I do
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#36
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I think recommended is a stretch. It WAS a recognized starting point for many folks to be used as a guideline, but updated thinking has changed to around 3%.
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#37
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If these financial gurus are so smart why would there be a need to modify the 4% rule. Did not the rule accommodate economic changes over the long haul ? Every time there is a hiccup we need a new rule ? Not a very comforting feeling. Never forget fear and greed the world's two biggest motivators.
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#38
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You are not the only one! I continue to Roth conversions up to my next tax bracket. Since I am still working, my 401k contributions go into my Roth account.
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#39
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"Couldn't" convert in my working years ............... hate those tax brackets. Finally not working, looking at maybe some conversions & bringing some funds a shore.
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Identifying as Mr. Helpful |
#40
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#41
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Haven't changed, 4% is still a good guideline.
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Identifying as Mr. Helpful |
#42
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#43
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you don't hear about the 4% rule much because the software programs create customized plans with as much detail as you want to stuff into it. The fidelity plan has car replacement inputs with/without loans, has forecasted health care costs, now that it is a large expense, etc. . . so advancements make thumbs meaningless. . that's why Last edited by CoachKandSportsguy; 01-25-2022 at 10:56 AM. Reason: f*********** autocorrect |
#44
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Interesting info. A nicely subtle way of promoting annuities.
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#45
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Closed Thread |
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