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How many sources of income do you have?
06-07-2023, 07:21 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Posts: 8,334
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How many sources of income do you have?
I am pretty geeky when it comes to tracking income and expenses. Some may find it tedious, I enjoy it. I update a spreadsheet once a month over a cup of coffee.
I receive my retirement income from the following:
Tax free interest
Taxable interest
Capital gains
Dividends
eBay
Credit card points in cash
Paid research
A part time W2 job
Cash back apps - 2 of them
RMDs from a small inherited IRA
Asset sales - Facebook Marketplace and such
So a total of 11 sources.
How about you?
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06-07-2023, 07:30 AM
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#2
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Administrator
Join Date: Apr 2006
Posts: 21,872
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Only three - pensions, investing, small change I pick up off the ground.
__________________
Living an analog life in the Digital Age.
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06-07-2023, 07:34 AM
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#3
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Full time employment: Posting here.
Join Date: May 2014
Posts: 888
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Quote:
Originally Posted by Gumby
Only three - pensions, investing, small change I pick up off the ground.
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I no longer pick up money on the ground. It is not worth bending my rigid body to pick up a penny, and a $10 bill might be a trap by someone to make a video.
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06-07-2023, 07:34 AM
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#4
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Posts: 8,334
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Quote:
Originally Posted by Gumby
Only three - pensions, investing, small change I pick up off the ground.
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I forgot about change. So maybe I have 12
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06-07-2023, 08:07 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Apr 2012
Location: Nashville
Posts: 2,389
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IRA withdrawals, and Roth IRA conversions, plus the nickels and dimes from checking/CMA interest on the funds we transfer from IRAs.
Looking more likely that we'll have social security income when we hit 70 in '30 and '31, but still not including it in planning. (Will go to grandchildren education, most likely.)
_____________
E.T.A. So, basically 1 source for now.
__________________
OMY * 3 2ish Done 7.28.17
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06-07-2023, 08:20 AM
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#6
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Administrator
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 33,366
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Between my wife and I we have:
4 private company pensions
2 US SS pensions
2 UK SS pensions
Interest and investment returns
__________________
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
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06-07-2023, 10:18 AM
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#7
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2014
Posts: 6,704
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Pension, SS, part time consulting, interest on I bonds and savings.
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06-07-2023, 10:33 AM
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#8
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Recycles dryer sheets
Join Date: Aug 2013
Posts: 394
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Corp pension (100% survivor benefit)
SS DH started at 64.5
Ira draw 3.5% annually each
Interest income
Oil/gas Royalties (very small $$)
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06-07-2023, 10:48 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Feb 2016
Location: SoCal
Posts: 1,251
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Small pension
457 distribution
Dividends
Interest
Rent
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06-07-2023, 11:15 AM
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#10
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Thinks s/he gets paid by the post
Join Date: Jun 2017
Location: Western NC
Posts: 4,344
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Dividends & interest only...we're both more than a decade from (minimal) Social Security.
Glad my kids chose careers (military, law enforcement) where they can retire with a decent COLA pension.
They'll probably wait until their 50s, though at least one could retire in their 40s.
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06-07-2023, 11:17 AM
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#11
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Recycles dryer sheets
Join Date: Jun 2016
Location: Grand Junction
Posts: 422
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Because many of the item already mentioned just roll into my portfolio for future funding, I guess my number is two. A monthly pension and my monthly transfer from Marcus, which I schedule (and fund) every year in January based on my 12/31 rolling average portfolio balance.
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06-07-2023, 11:37 AM
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#12
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Administrator
Join Date: Jan 2008
Location: Chicagoland
Posts: 39,364
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Are we only considering legal sources of income or should we also mention the other kind. For example, online fraud, drug dealing and such. Just wondering …
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06-07-2023, 11:39 AM
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#13
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Moderator
Join Date: Jul 2017
Location: Long Island
Posts: 4,622
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Quote:
Originally Posted by MichaelB
Are we only considering legal sources of income or should we also mention the other kind. For example, online fraud, drug dealing and such. Just wondering …
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Shhhhhhh . . .
__________________
Use it up, wear it out, make it do or do without.
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06-07-2023, 11:48 AM
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#14
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Posts: 8,334
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Quote:
Originally Posted by MichaelB
Are we only considering legal sources of income or should we also mention the other kind. For example, online fraud, drug dealing and such. Just wondering …
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I guess it’s like how this forum defines net worth. Everyone has their own interpretation
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06-07-2023, 12:13 PM
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#15
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Moderator
Join Date: Jul 2017
Location: Long Island
Posts: 4,622
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I guess it depends on how you want to break it down, for example, the IRS would consider I have income from my Roth conversions, but I am not yet using my traditional IRA to fund my retirement, I am paying taxes from a taxable account (excepting the 60 day rollover tax payments which were reimbursed).
Currently, we are taking income from DH's pension and retirement annuity, DH's IRA, and brokerage accounts.
__________________
Use it up, wear it out, make it do or do without.
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06-07-2023, 12:45 PM
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#16
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2016
Posts: 8,334
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Quote:
Originally Posted by MarieIG
I guess it depends on how you want to break it down, for example, the IRS would consider I have income from my Roth conversions, but I am not yet using my traditional IRA to fund my retirement, as of yet, I am paying taxes from a taxable account (excepting the 60 day rollover tax payments which were reimbursed).
Currently, we are taking income from DH's pension and retirement annuity, DH's IRA, and brokerage accounts.
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I just define it as additive to my assets. So a rollover that generates a gain isn’t income to me. Technically neither is a dividend from stock, because the dividend is already accounted for in the value of the stock, but I won’t get into the weeds on that topic.
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06-07-2023, 12:51 PM
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#17
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Moderator
Join Date: Jul 2017
Location: Long Island
Posts: 4,622
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__________________
Use it up, wear it out, make it do or do without.
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06-07-2023, 12:58 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jul 2008
Location: Leeward Oahu
Posts: 16,017
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Of course, my 401(k) and Roths generate some dividends as well as growth (sometimes.) But I don't count those as I don't receive anything directly.
DW has SS
I have SS
I have a pension
I take RMDs plus extra from my only (RMD) required fund - namely my 401(k).
I guess that's just 4.
__________________
Ko'olau's Law -
Anything which can be used can be misused. Anything which can be misused will be.
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06-07-2023, 01:31 PM
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#19
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Full time employment: Posting here.
Join Date: Oct 2014
Location: Tennesee
Posts: 720
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DW has a pension (non-cola)
I have a pension (non-cola)
Substantial income form a CD ladder (was in previously in Dividend Aristocrats, but moved into CDs when interest rates became attractive)
Small amount of dividend income
SS is a few years away for both of us.
__________________
Retired June, 2016. Never looked back.
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06-07-2023, 02:06 PM
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#20
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Recycles dryer sheets
Join Date: Jun 2023
Posts: 426
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Quote:
Originally Posted by COcheesehead
I am pretty geeky when it comes to tracking income and expenses. Some may find it tedious, I enjoy it. I update a spreadsheet once a month over a cup of coffee.
I receive my retirement income from the following:
Tax free interest
Taxable interest
Capital gains
Dividends
eBay
Credit card points in cash
Paid research
A part time W2 job
Cash back apps - 2 of them
RMDs from a small inherited IRA
Asset sales - Facebook Marketplace and such
So a total of 11 sources.
How about you?
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Nice list. I hadn't really given it this much level of detailed thought. When I retire, this is what I expect:
Bank Cash, CD's
Social Security
Couple of small pensions
Interest, Cap Gains, Dividends from after-tax investment accts
Credit card points (mega lotta pts on AMEX, VISA, redeemable for travel, gift cards, cash)
RMDs from pre-tax IRAs/401Ks
RMD's from after-tax IRAs
RMDs from an inherited IRA
Proceeds from invmt r.e. & asset sales (or rental income, TBD)
Proceeds from employer Deferred Comp/RSU/Stock Options/Severance
Cash value in whole life policies
Comp from part-time consulting, LLC (TBD, first few yrs)
Comp from Board Directorships (for-profit, TBD)
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