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The wildcard with Medicare is prescription drugs The wildcard with Medicare is prescription drugs. Should you be in a position where you could really benefit from some of the newer (non-formulary) drugs then you just may find that medicare just doesn't cover such. Then it's do without and...

Who wants to work for the Man forever! You can live very inexpensively in the Vegas area. Get out now, free up some of that overpriced equity and Live ! The world is you oyster !

Role Model you ask ? It would have to be Hugh Hefner. He kept working well into his old age. Until he just couldn't keep it up anymore.

yeah, You missed the early bird dinners and Bingo !

Insomnia: Lessons learned from the death of Michael Jackson https://www.nola.com/entertainment_life/health_fitness/article_6ebd6a32-d30f-5905-96e0-5ef8e15fbd9d.html#:~:text=Pop%20star%20Michael%20Jackson%20was,killed%20Jackson%20on%20June%2025.

from the Efficient frontier: Clearly shorter retirements (or older retirees) can take a higher payout and vice versa

So I'm a bit late to this thread. I haven't read all the posts so forgive me if this has been mentioned. What the OP wants is all covered by the "Optimal Retirement Planner" https://www.i-orp.com/Plans/extended.html . There is little need to do your own spreadsheet to model when to take SS...

I have a silver-colored Rolex Submariner knock off that I got for under $20 shipped. It's a mechanical watch that if you don't wear it for a few (days/a week) winds down and you have o set the time again. You can see the (mechanical) movement running on the back-side. I have quite a few...

Nobody has posted this yet... This is an unusual year to buy a car. I have read that due to electronics and other (foam ) shortages That Honda has stopped production in at least two of their factories. Many other OEMs have the same issue. So supply and demand means that, this year, you...

To the OP - None of those items are major repairs (AC compressor debatable). Those aren't make-or-break items like an automatic transmission or a head gasket or lost engine compression etc. For me, I drive newer cars now. Not because the old ones can't be fixed but because I just don't want...

Regarding Thoughts on The Number If you've never read Lee Eisenberg's (2006) book "The Number" I highly recommend it. Mr Eisnberg looks at many different aspects of thinking about your retirement nestegg. Mr Eisenberg was executive editor at Esquire magazine (among other things) so he knows how...

Is that supposed to be a bad thing !

As my wife pulled into the lot the band began to play "Hail to the Chief". Then As I walked through the door hundreds of people gathered and spontaneously began clapping. Balloons and confetti dropped from the ceiling. The executive manager came to me, we hugged, and then we held hands as...

It's not as low as it seems. For 2021 the "free" capital gains for those married filing jointly goes up to $81050. Then you add in the standard deduction of $24800 that then lets you be tax free for capital gains less than $105850 (sans other income) So suppose you have a mutual fund/stock that...

Don't Ignore Income Based Medicare Taxes (IRMAA) I scanned though this thread and didn't see any reference to the (substantial) IRMAA Medicare income based taxes that can accrue to those with (modest to large) tax-deferred balances. Perhaps the best reason to do Roth conversions is to...

There is an issue with the one-fund VTWAX approach. Since VTWAX foreign holdings are less than 50 PerCent of the total, That fund will not report foreign taxes paid (Box 7 on your 1099 form) even though they may be substantial. Therefore you may not be eligible for getting credit on all those...

Learn the G,C, D chords and how to transition between them and the world is yours. It is amazing how many songs use these 3 chords Ring of Fire – Johnny Cash Release – Pearl Jam Leaving on a Jet Plane – John Denver Knockin’ on Heaven’s Door – Bob Dylan Brown Eyed Girl – Van Morrison...

Sorry for the delay in my response... It's not just the income taxes that are affected by Roth conversions. It's also the IRMAA taxes on your Medicare cost. Think of those IRMAA taxes as extra income taxes to be avoided by ROTH conversions The Medicare means tested taxes (The IRMAA charges)...

Depreciation recapture is taxed by the feds at 25%. Then there is whatever your state charges. The total (state depending) could be over 33 percent. same issue with the remaining capital gains. The feds charge up to 23.8% (3.8 of that in NIIT) for high income folks. Then there are state...

I skimmed this thread and I didn't see the mention of this The other Big reason to spend down the Qualified money (401ks, IRAa) is that once you start taking Medicare you can get hit with highly punitive IRMAA means-tested taxes on your (and spouses) Medicare per your income level...

OK: My post was not meant as a slight on anyone. Apologies to anyone who may have been offended. By the way, I did read through much of Midpacks thread on getting a handle on optimal tax strategy and found it to be outstanding...

No need to be snitty. Converting at 10% marginal works out much better than at 22% - that is true. That may not be optimal for someone converting at higher marginal rates.

It seems that the issue of average rates paid versus marginal rates isn't quite clear to some of you. If I take SS and RMDs and other money out. My marginal rate may be 22% but that doesn't mean that I pay 22 % on everything I take out. My average tax on what I take out is quite a bit less...

Are you sure that taking money out of a taxable IRA to pay conversion to a Roth is a step ahead. You are then paying taxes at the highest marginal rate. I suppose you lock in the 22% federal tax rate. That could be a good thing. Or not. The way I look at it, is that when I take taxable IRA...

For those of you doing Roth conversions... Where do you take the money from to pay the conversion tax. Is it from cash you had sitting around ? Or do you take money out of other investments, pay the tax due on the money you took out, and then use what's left to pay the Roth conversion taxes...