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Thanks for the reply. I agree. To keep my reply brief I left that part out. We're already planning to do just that. Nice call.

The calculator link provided above by LawrenceWendall is a great one for checking to see if you’ll have the “Social Security Tax Torpedo” issue. The link is has unfortunately been shortened so can’t be copy and pasted. It can be found by searching for “Social Security Tax Calculator: Are Your...

Added my retirement in Jan... my wife retired early in Feb as well... Added my retirement in.. January - Vireo - 1/8/2016, age 60 - robertf57 - 1/22/2016 58 - Ghandi - 1/14/2016 - age 49 - mamadogmamacat - 1/28/16 age 55 - Happily Retired - 1/30/16, age 59. My wife retired a week later on...

DW and I FIRED in the past 2 to 3 weeks at age 59. We're new class of 2016 members. WOO HOO! Sent from my SM-N910P using Early Retirement Forum mobile app

400% FPL is based upon 2015 taxes Your 2016 ACA subsidy is based upon your 2015 taxes. So, things are already known for the subsidy. For the 400% FPL subsidy, google it. Here's a link https://www.healthinsurance.org/obamacare/will-you-receive-an-obamacare-premium-subsidy/ that has a chart.

First job My first job was, at age 15, working at a FULL SERVICE gas station. Remember when they were all FULL service. When the automatic shutoff at the pump became common, that's when the service went away. I think the wage was $1.35 an hour. I worked all year long for 2 years after...

does your pension pass the 6% test? When You Should Take the Lump Sum Over the Pension | Clark Howard From the article: Think of it in terms of the 6% rule, or “does your pension pass the 6% test?” If your monthly pension offer is 6% or more of the lump sum then it may be worth...

Hang On Help Is On Its Way Song by Little River Band Great song!

Which is better: Cash up front or payments over time? Here's how easy it was for me. I plugged in the lump sum amount. Next was the % return on investment. I started out small, then worked my way up. This was an IMPORTANT variable for me. I had to know this in order to answer the lump sum...

Lump sum versus payments, which is better? https://www.calcxml.com/calculators/lump-sum-or-payments?skn=#results Here's a calculator that helped me get some answers to the question: Lump sum versus payments, which is better? I found this very helpful.

Got lucky I had $175k sitting in Vanguard money market fund waiting from our consolidation to Vanguard efforts. Timing of this was perfect to watch the sell off and wait for a sign of a bottoming out. I guessed right (this time) and bought on the right day. Woo Hoo! :dance:

Buying low Got $155k setting in cash at Vanguard (Money Market fund). Am in the process of consolidating all money there. Fortunately sold 3-4 weeks ago at the other place and with the transaction finally complete, have cash ready to buy in this down market. This is Trad IRA and Roth IRA...

Ditto pb4uski coments and strategy Note to pb4uski: Our (DW and myself) situation is identical to what you're describing. To all: This is not complaining about paying taxes when taking tIRA distributions. Using a tax efficient strategy like this helps to make it as pleasant as...

Alternative to buying book: Many libraries have it Alternative to buying: I checked the book out at the library. Yours may have it too.

Agree with Rothman. Don't leave SS money on the table Agree very much with Rothman. Nice, brief summary. Thanks! Don't leave any SS money on the table through spousal benefits if you can afford to do this. DW and I are planning to do the same, filing, delaying SS, getting spousal...

Do a search on "Tax Torpedo" and then "Reverse Tax Torpedo". Good info. Basics: Delay filing for Social Security. Spend down/draw down your taxable 401k or Traditional IRA money in the lowest tax bracket that you can tolerate (e.g. top of the 15% tax bracket).

DW and I have a young son, a college senior next year, and am building a list of beginning investing financial books for him. I'm collecting ideas and have a little time get this together... but why not start this project now. "Millionaire Teacher" is a great beginning investor book. I...

I wasn't happy with the old Username "ThisIsHowWeRoll" so created a new one, "Happily Retired". I've been a user on this website for less than 6 months so am probably considered a newbie by those who have been here for years.

Transfer time in service Thanks aja8888 for the reply! I'd appreciate them transferring a one thing to the new username, if possible: "Time in service" on the old account. Thanks.

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Yes, I meant to say taxes on a maximum of 85%, not 75%, on Social Security. Good catch. Thanks. On a totally separate thing... I mentioned the Social Security benefits reduction to 75 cents on the dollar announced currently to happen in 2033 as the SS trust fund becomes exhausted or drawn...

Anyone have experience with a companies called RetireIncome.com and Social Security Solutions? I believe that they have the same ownership. They have a product called Retirement Benchmark. Our spreadsheets show good news for our upcoming FIRE. We would feel a little better getting...

"Kid went away for 2 weeks to another country. Had set up Schwab checking to fund the Schwab Visa debit card..." Do you adopt?:coolsmiley: I'm a kid at heart, and lovable like a new puppy. :rolleyes: Europe would be nice right now. Thanks to all for the valuable feedback. I've known...

More feedback needed please I'm watching this thread carefully. Have been considering moving $$$ there. Please provide more feedback.

Google: "Projected Trust Fund Exhaustion". 2033 is when the Social Security trust fund is exhausted to the point where benefits should reduce to 75% of what they should be. It's not 75% taxation of SS, but 75%... or 75 cents on the dollar of what the benefits normally would have been. Hope...