RetireBy90
Thinks s/he gets paid by the post
Interesting story on Market Watch, very superfical but might be useful starting points for those that have not spent much thought on how finances can change in retirement.
There was a time not so long ago that I had not considered some of these topics.
Opinion: 5 tricky retirement taxes boomers should watch out for
At: https://www.marketwatch.com/story/5...r-2019-12-13?siteid=yhoof2&yptr=yahoo&ref=yfp
5 items noted are:
1) Required Minimum Distributions or RMDs - I think most here understand them and the 50% penality if you don't take one.
2) State Taxes - Story talks about some states no income taxes, some tax IRA draws and 13 states that tax SS.
3) Social Security and part-time retirement income - Earnings may reduce your SS in short term
4) Claim back your Medicare surcharge - Talks about IRMAA, doesn't mention the big change in income table for a surviving spouse who must claim single.
5) The hidden savings in account sequencing - talks about different goals for your pile and levers you can pull to reach one goal or another (longevity of your savings or inheritance).
There was a time not so long ago that I had not considered some of these topics.
Opinion: 5 tricky retirement taxes boomers should watch out for
At: https://www.marketwatch.com/story/5...r-2019-12-13?siteid=yhoof2&yptr=yahoo&ref=yfp
5 items noted are:
1) Required Minimum Distributions or RMDs - I think most here understand them and the 50% penality if you don't take one.
2) State Taxes - Story talks about some states no income taxes, some tax IRA draws and 13 states that tax SS.
3) Social Security and part-time retirement income - Earnings may reduce your SS in short term
4) Claim back your Medicare surcharge - Talks about IRMAA, doesn't mention the big change in income table for a surviving spouse who must claim single.
5) The hidden savings in account sequencing - talks about different goals for your pile and levers you can pull to reach one goal or another (longevity of your savings or inheritance).