Z3Dreamer
Thinks s/he gets paid by the post
For those of you who are:
Tell me your thoughts on why you selected whatever income level you did.
Factors:
So, do you go as low as you can go or do you go for an income closer to 400% of FPL?
- Fire
- Under 65
- Holding regular IRAs, Roth IRAs, HSAs
- Qualify for Obamacare credit
Tell me your thoughts on why you selected whatever income level you did.
Factors:
- SS in this bracket is mostly non-taxable and we are drawing at age 62. Of course SS counts against OMAGI
- HSA funds are available but it is all in VTSMX which is doing quite well
- Roth funds are doing quite well so I don't want to drain them.
- Going to have $20,000 or more in itemized, no matter what.
- I am using HELOC to bridge some of the gap. Rate is prime less .5%.
- 10% bracket ends at $19,000 for MFJ
- Tax savings are 13% for Obamacare (in this income range), 10% Federal and 5% State.
- Any taxes deferred may come back to bite me as higher rates and RMDs.
So, do you go as low as you can go or do you go for an income closer to 400% of FPL?