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Old 07-01-2015, 04:26 PM   #41
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Originally Posted by rayvt View Post
....My original post was in response to someone bemoaning his IRA being held "tax hostage". But it isn't. Some of that IRA is money that he should have paid to the IRS years ago, but they magnanimously said, "Nah, you don't have to pay up now, you can hang onto it for us in an IRA and pay us later on when you withdraw money from the IRA."...
Well at least something we can agree on.

I said the same thing in post #9 of this thread.
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Old 07-01-2015, 05:51 PM   #42
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Originally Posted by rayvt View Post
Yup. Something like 42% of the people, so I hear. And approximately ZERO of them are reading about Financially Independent and Retiring Early. And they aren't mulling over Withdrawal Ratios, they are more likely to be asking how does a ratio apply to $0.
One thing I learned from this forum is to not confuse FI (and wealth) with taxes paid.

Far from your 'zero' claim, there's tons of people here who are quite well off, retired early yet pay little or no taxes, either by careful withdrawal strategies or judicious income planning or other avenues etc. (legally of course)

Likely one of the reasons they DO read this forum is to glean insights on how to do just that.
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Old 07-01-2015, 08:06 PM   #43
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Thanks to all who replied. Although my preference is to keep as much of the 401K for as long as possible, the best course seems to be spending it down, while delaying SS. I had planned to take $20K/yr from 401K to supplement my pension. Might be better to take $40-50K/yr for the next eight years (I'm 62) in order to avoid RMD taxes and delay SS until age 70. Excess withdrawals over spending needs could be rolled to a Roth; I could also avoid most of the tax torpedo on SS. Does this sound right, or am I still off track?
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