sanfanciscotreat
Recycles dryer sheets
- Joined
- May 19, 2011
- Messages
- 325
Pay 110% of last year's fed tax with this year's estimated payments and no penalty regardless of income.
What's funding your retirement?
- Thread starter 97guns
- Start date
Pay 110% of last year's fed tax with this year's estimated payments and no penalty regardless of income.
fancy free
Recycles dryer sheets
- Joined
- May 30, 2010
- Messages
- 83
Just coming up on our 10-year anniversary of retiring early — what a milestone!
We retired in our 40s, funded by taxable investments, rental property, and a little extra boost from a few side gigs. Sometimes I forget we'll eventually get access to our actual retirement accounts!
We retired in our 40s, funded by taxable investments, rental property, and a little extra boost from a few side gigs. Sometimes I forget we'll eventually get access to our actual retirement accounts!
kcowan
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
14 years in.
Pensions 56%
Portfolio 44%
Portfolio has been growing since 2008 so gradually increasing gifting.
Pensions 56%
Portfolio 44%
Portfolio has been growing since 2008 so gradually increasing gifting.
YVRRocketSurgery
Full time employment: Posting here.
Looking to retire in a few years at age 50 but the missus will likely continue working for another 5-8 years.
The plan for this stage is to have dividends and capital gains from my non-registered account to provide a floor level of income in perpetuity to cover my share of our combined spend and for fun stuff. Will also start drawing down from my registered retirement account and either use it for major spends (eg house repairs) or rolling it into the non-registered account after paying the taxes on it. The registered retirement account should be depleted by age 70.
Looking to collect government benefits at age 65.
Looking to start tapping into my DC pension at age 71.
The plan for this stage is to have dividends and capital gains from my non-registered account to provide a floor level of income in perpetuity to cover my share of our combined spend and for fun stuff. Will also start drawing down from my registered retirement account and either use it for major spends (eg house repairs) or rolling it into the non-registered account after paying the taxes on it. The registered retirement account should be depleted by age 70.
Looking to collect government benefits at age 65.
Looking to start tapping into my DC pension at age 71.
OP
OP
97guns
Full time employment: Posting here.
Very good, someone that beat me to retirement, I've been waiting and looking for that someone.... and you took the leap of faith to get there, I applaud your guts, instincts and road to retirement
N02L84ER
Thinks s/he gets paid by the post
From DH's ER and my ESR (6 yrs) : part time wages + taxable
Since my ER (5 yrs) : 100% taxable
Until my SS (6 to 12.5 yrs) : 100% taxable
Until DH's SS : my SS + taxable + IRAs(if needed)
After DH's SS : my SS + DH's SS + RMDs + Roth(as needed)
Since my ER (5 yrs) : 100% taxable
Until my SS (6 to 12.5 yrs) : 100% taxable
Until DH's SS : my SS + taxable + IRAs(if needed)
After DH's SS : my SS + DH's SS + RMDs + Roth(as needed)
LakeRat1
Recycles dryer sheets
Retired at 52 / Now 55
DW Retired at 59.5 / Now 63
Source of income is from DW's IRA(old 401k) and SS, once I turn 59.5 we will begin draws on my IRA(old 401k), this past March I turned 55 so I started drawing my very reduced pension
When we retired, DW put some money into two annuities, these annuities will run their coarse when I turn 59.5 and 62, by then I expect to live on less......As with others, all our income is taxable
Since retirement we are truly enjoying life, purchased a home in SWF, sold the first one and are on our second one, as well we have a Condo at Lake of the Ozarks we utilize during the summer months
We quickly learned that we needed to become FL residence to save on taxes, both no state income as well as personal property tax on vehicles and boats .......
DW Retired at 59.5 / Now 63
Source of income is from DW's IRA(old 401k) and SS, once I turn 59.5 we will begin draws on my IRA(old 401k), this past March I turned 55 so I started drawing my very reduced pension
When we retired, DW put some money into two annuities, these annuities will run their coarse when I turn 59.5 and 62, by then I expect to live on less......As with others, all our income is taxable
Since retirement we are truly enjoying life, purchased a home in SWF, sold the first one and are on our second one, as well we have a Condo at Lake of the Ozarks we utilize during the summer months
We quickly learned that we needed to become FL residence to save on taxes, both no state income as well as personal property tax on vehicles and boats .......
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Al in Ohio
Thinks s/he gets paid by the post
Cash (CD's muni bonds and tax adv balanced funds) that I saved (during my last 6 working years) for the next 4 years til I am 59.5.
I have been earning an average of $1,000/month in PT wages on a PT hourly as needed arrangement with my last employer that I gave retirement notice to.
I have been earning an average of $1,000/month in PT wages on a PT hourly as needed arrangement with my last employer that I gave retirement notice to.
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mpeirce
Thinks s/he gets paid by the post
No pension.
FIREd in early 2011 and have been living off taxable financial assets since then. Dividends, interest, and selling shares provide us with a very nice life. No "draw down" really, since our taxable assets have appreciated since then. I love bull markets (but plan for bears too).
I've still got ~15 years before I have to do RMDs or take SS. DW's will kick in in about 6 years. In making the FIRE decision, I ignored SS. So there is plenty of buffer built-in.
FIREd in early 2011 and have been living off taxable financial assets since then. Dividends, interest, and selling shares provide us with a very nice life. No "draw down" really, since our taxable assets have appreciated since then. I love bull markets (but plan for bears too).
I've still got ~15 years before I have to do RMDs or take SS. DW's will kick in in about 6 years. In making the FIRE decision, I ignored SS. So there is plenty of buffer built-in.
Paracelsus
Recycles dryer sheets
I just retired this year at 55. Currently pension, a little bit of salary from a fun job (enough to pay health insurance), stock dividends and cashing in stock options (10 years supply) is funding my retirement. I do have an emergency cash fund other than this that should protect me for the next five years. I also just received an inheritance that I'm not touching at this point until done with probate in year or so.
At age 60, I'll be able to start tapping into my IRA and Roth IRA funds. Pension, dividends, and stock options (till age 65) will continue.
At age 70, hoping to add social security to the mix, if it still exists.
At age 60, I'll be able to start tapping into my IRA and Roth IRA funds. Pension, dividends, and stock options (till age 65) will continue.
At age 70, hoping to add social security to the mix, if it still exists.
