TorchtheFlyingTiger

Or, "If you’ve saved that much that young"
you're already accustomed to living within means, watching expenses and cutting back if necessary to meet financial goals while maintaining a comfortable but reasonable lifestyle.

Most early retirement proponents recommend managing withdrawals to optimize for taxable income and get ACA insurance subsidies. If withdrawing Roth IRA contributions and shares with high basis you can pay little or no income tax and get subsidized health insurance premiums. Long term capital gains arent taxed at all until you exceed ~$90k married joint plus you get standard deduction and basis isnt taxed (or reportable for ACA) just gains.

Some even report getting full Pell grants for college age kids despite decent annual expenditures because simplified FAFSA doesnt ask for assets if reportable income is low enough.

I keep hearing about how life costs too much these days. Yet, the average consumer is paying for all these services they could do themselves. Doordash, car wash subscriptions, lawn service etc... I never see neighbors' teens even cutting their yards or washing their own cars. No wonder everyone feels broke.

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take it you will be withdrawing from investment accounts until 59 1/2 to avoid penalties?

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You can easily avoid penalties w 72(t) periodic payments, pull Roth contributions and/or Roth conversion ladder. A blend of these with taxable brokerage withdrawals can often optimize taxes.

Anyone here get this done? I've been considering some elective medical tests but hard to know whats worth paying for.

:rotflmao:

Turbo Tax isnt $160 and why is a simple return taking you 2 hrs to enter?

You think price weighting is better? That's a completely arbitrary method and bizarre to me that we still use.it out of tradition just because when it was created there was no better method than simply adding up closing prices.

Market cap weighting is top heavy but at least it has a rational basis.

It boggles my mind that DOW avg is still the most/first quoted on news programs. And they talk points up/down and often dont even put it in a percentage context at least.

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These are bargain prices.

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By what measure? Certainly not P/E

I dont think sky is falling either, we are just back to prices from past Fall. Was that also a bargain? That's why I dont sit on sideline waiting.

Should be able to move it to an inherited IRA. Take the 10 years to gradually draw it down getting.max tax differed growth along the way but minimizing going into higher tax brackets as much as possible. If they have a low income year (take a sabbatical lose job etc) then would be good time to draw more while in lower tax bracket. Also, if the original owner was already subject to RMDs then heir has to keep taking them.

Also, there are exceptions, including those for minor children, individuals with disabilities or chronic illnesses, and those not more than 10 years younger than the original owner, who may still use the older "stretch IRA" rules based on life expectancy.