Search results

We plan to FIRE in 2 years @ 59 yo. The plan is to use cash savings the first two years of FIRE, during which we would like to do Roth conversions since our tax base will effectively be zero thus triggering little to no tax on the conversions if we stay below certain limits. My queries are: 1...

Suggestions from the wise(r) needed: We rec'd out CPA's income tax returns last night and again owe the Feds $11,287 ($7K last yr). Our CPA's simple suggestion was to up our quarterly additional tax payments by $3k (we do $500 qrtly payments now). Current scenario. 2016 Gross income =...

My B-I-L told me he and his DW are planning to go to Raymond James to have their retirement plan assessed, commented on, and further advised on. I told him to make sure they get a fee only (hrly fee preferable) just for one time "review". Any good articles on here about the pitfalls and be...

Hi all, been some time since I posted anything. Looking for the collective wisdom on here to provide insightful commentary, suggestions, advice. Scenario: > Expenses - Will require $85,000 pre-tax post RE (assuming 15% tax or less) This is everything from taxes to wife's hair appts. >...

I'm running Firecalc several different ways and adjusting for variable scenarios, am I to assume there is no functionality within the site which predicts estimated taxes based on today's tax environment? I have been plugging my expenses in which do include future tax estimations, just want to...

I have ran several FC scenarios all with 100% success however, in a couple scenarios the output table says the following " Since you selected the crystal ball option for every year, every year either succeeded or failed, so it's 0% or 100%, FC found 0 cycles failed--- the portfolio was depleted...

Unfortunately I have be released by mega corp after a re-org last month, happily though, I have joined yet another mega corp:(. I'm familiar w/the rule of 55 with 401k's and that it applies to the last corp you were with upon retirement. My query is this; I have a sizable 401k with the company...

As of yesterday megacorp provided me my 60 day RIF notice. I'm currently 55.5 YO. My question is this: For the sake of 401k early withdrawals w/o penalty, would a RIF be considered "early retirement" for the sake of this rule? Or, would i need to alter the RIF scenario and formally announce...

Quick question; I had an older 401k that was converted to an IRA & rolled into my Vanguard accounts. These are all pretax dollars. Can I still contribute to this same converted IRA using after tax funds? I assume i would just need to track the cost basis of the non-deductible contributions...

DW & I are 55 y.o., thus far we have the vast majority of our investments in tax advantaged accounts (401k's, 401k conversions to IRA's) about 80% of total portfolio, the rest in a couple traditional IRA's. The scenario: We want to further build our after tax accounts however we are at a...

Hi group: In a nutshell, we're 5 yrs from FIRE and now that all 3 kids are gone we're focusing on consolidating investments & more specifically building up the after tax IRA's and other savings. The query; the DW opened a few traditional after tax IRA's 8-10 years ago and has been plopping a fix...

Thinking of doing a Roth conversion w/part of a current pretax IRA however, I'm not sure it will be of benefit in the long run. Situation: - looking to convert 100k to a roth - current tax bracket of 33% - cannot contribute thereafter due to AGI being over limit - both DW & I are 54 and hope to...

Current: * me - 54 * wife - 54 * combined salaries = $280k * current pre-tax savings - $960,000 ( 40 stocks/28 bonds/32 fixed-reserves) * after tax - $70,000 * house -will be paid off in 4, (double payments) assuming they continue * 3 kids- 2 out of college & gone, 16 yo home college paid for...