- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: What's your benchmark for retirement?
Posted on 9/22/23 at 12:29 pm to Thundercles
Posted on 9/22/23 at 12:29 pm to Thundercles
I find it odd in these threads that everyone speaks to their retirement assets and never any taxable accounts. I retired a few weeks before turning 48 and if taxable accounts weren't roughly half of my investments at that time that wouldn't have happened. With QDI tax rates being very low and if you stack loss carry forwards through the years it is cheap to live on taxable accounts.
2
Posted on 9/22/23 at 5:15 pm to ronricks
quote:This is what I have been stressing to my kids as much as I can. They are listening and will thank me in their later years. It is wonderful advice!
Best advice I ever got when I was 23 and entering workforce was to max a 401k and a Roth.
Posted on 9/22/23 at 5:32 pm to Thundercles
Posted on 9/22/23 at 6:04 pm to tirebiter
I include taxable accounts. The zero LTCG rate is going to be great now that my taxable income is low enough to take advantage. I'm hoping to gains harvest and reinvest as much as possible with new higher basis in the years before I tap retirement accounts.
Posted on 9/22/23 at 6:47 pm to PhiTiger1764
quote:
Retirement is not an age, it is a financial state.
This is very true. If I did not have three kids I could probably do it now and generate enough hobby income to get by.
Posted on 9/22/23 at 6:59 pm to Thundercles
Friend,
I hope I never retire. I work for the Lord, and my life is in the best of times service to the Kingdom. Working to make money for the purpose of retiring sounds like a waste of a good gift to me.
Yours,
TulaneLSU
I hope I never retire. I work for the Lord, and my life is in the best of times service to the Kingdom. Working to make money for the purpose of retiring sounds like a waste of a good gift to me.
Yours,
TulaneLSU
This post was edited on 9/22/23 at 6:59 pm
Posted on 9/22/23 at 7:30 pm to ronricks
quote:
It’s not what you make it’s what you save.
I save the maximum amount allowable in my 401K and have been for years. Company matches 8%. But still not balling like the rest of the posters
Posted on 9/22/23 at 8:42 pm to jamiegla1
Took me nearly 20 yrs of maxing 401k (no match) and 2 x IRAs and throwing any extra into taxable brokerage.
Posted on 9/22/23 at 9:04 pm to tigerwith3
quote:
I’ll have enough money to retire at 60, but what is everyone doing for health insurance? It’s something important enough to keep me in the workforce longer than I’d want to be.
Roth withdrawals don't count towards MAGI for Obamacare. Start a Roth ladder and maximize Roth contributions. When you hit 60 use your available Roth assets to keep your MAGI (modified adjusted gross income) below the magic number to get an Obamacare subsidy. You will need it until you are eligible for Medicare at age 65. At 60, get enough out of your traditional 401K or IRA but supplement with Roth assets to stay below the subsidy limits. If you have taxable assets in mutual funds, pay close attention to capital gains distributions because they can really rain on your parade in this situation.
Posted on 9/22/23 at 9:14 pm to CharlesUFarley
Another reason to avoid a dividend stock strategy. Those dividends keep coming whether you want them or not and make tax optimization and ACA subsidies more difficult to manage. Another tool for managing MAGI is selling shares in taxable brokerage that have least appreciation. Spend the entire basis & gain but only the gain counts towards income.
This post was edited on 9/22/23 at 9:15 pm
Posted on 9/22/23 at 9:31 pm to CharlesUFarley
obamacare needs to be blown the frick up. it is robbing people of retirement monies. my bill is ridiculous for my family.
frick every democrat and john mccain. mfer coulda got rid of it but he cost us a fortune.
frick every democrat and john mccain. mfer coulda got rid of it but he cost us a fortune.
Posted on 9/22/23 at 9:34 pm to TorchtheFlyingTiger
quote:
Another reason to avoid a dividend stock strategy.
Posted on 9/22/23 at 9:38 pm to Fat Bastard
quote:
frick every democrat and john mccain. mfer coulda got rid of it but he cost us a fortune.
Gotta level the playing field
Muh equity
Posted on 9/22/23 at 9:41 pm to jamiegla1
bottom line is once your passive income = your monthly bills you are technically retired.
most keep going because you need a buffer with extras for other things. nobody wants to skate by. but it is a life saver if you are out of work, etc.
most keep going because you need a buffer with extras for other things. nobody wants to skate by. but it is a life saver if you are out of work, etc.
Posted on 9/22/23 at 10:11 pm to CharlesUFarley
quote:
Give it about 10-15 years. Being idle will start to agree with you a lot more.
Couldn’t disagree more. Being idle is bad for your health. The mental satisfaction of getting paid for your work and also the physical benefit of getting out and about or just using your brain is huge.
Obviously though, if you’re well off enough, you can afford to do all sorts of things to keep your brain and body in good shape.
Posted on 9/22/23 at 10:28 pm to FieldEngineer
quote:
Couldn’t disagree more. Being idle is bad for your health. The mental satisfaction of getting paid for your work and also the physical benefit of getting out and about or just using your brain is huge.
So plant a freakin' garden. Trust me, climbing those 70 degree staircases on work boats, crawling around paper machines, and working in high noise around 1000 degree steel slabs while wearing nomex, steel toes, and a hard hat is not going to keep you young.
Posted on 9/22/23 at 10:41 pm to TorchtheFlyingTiger
quote:
Another reason to avoid a dividend stock strategy. Those dividends keep coming whether you want them or not and make tax optimization and ACA subsidies more difficult to manage. Another tool for managing MAGI is selling shares in taxable brokerage that have least appreciation. Spend the entire basis & gain but only the gain counts towards income.
I disagree. A married couple could make about $72,000 a year of dividend income that would be free of Federal taxes and still get an Obamacare subsidy that would likely make a bronze plan with HSA free. I don't like index funds, but indexed ETF's are really good to avoid the big capital gains distributions that could ruin a strategy like this because the federal regs on cap gains are different for an ETF vs a mutual fund. At the least, planing to get 60% or so of your income from dividends would seem like a useful strategy if you can manage the details.
Posted on 9/23/23 at 12:16 am to CharlesUFarley
quote:
So plant a freakin' garden.
Great example. Run a garden and sell at the farmers market or whatever. Satisfaction of being useful and it keeps you active.
Posted on 9/23/23 at 1:17 am to CharlesUFarley
quote:
CharlesUFarley
Reading all this makes me realize I absolutely need to meet with a financial planner at some point
Posted on 9/23/23 at 10:40 am to lynxcat
quote:
Coast Fire
I had to look this up. This is my position, also. It is similar as a financial talk show host (whose name escapes me) that I used to listen to who called it critical mass.
Page 3 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News