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Thanks. Yes, that would be Option 1.

If I'm understanding the replies, it sounds like both options are technically correct, and yes, option 1 is the best because it moves money into Roth. Please let me know if that's not right. :) Thank you, yes. I believe that's what I outlined under option 1. Please let me know if I missed...

I’d like to make my 2024 HSA contribution before year-end. I also want to complete an in-plan $39k Roth conversion (in my 401k) to bring our AGI up to 60k (the estimate we used for ACA). I want to make sure I understand my options correctly. Option 1 Pull $9300 after-tax money from brokerage...

Over my life, I've realized that the great place we are in now, including but not limited to FI and RE, has been shaped by many events that seemed horrific at the times they occurred. Finding myself alone and penniless as a young adult embedded a financial paranoia that drove a LBYM life and a...

Thank you. We are incredibly grateful. We've been blessed in more ways than I can count. And since my first post when I was retiring at the end of 2022, the stock market has pushed our portfolio to new levels I never expected. FIREcalc investigate now shows $154k for our 100% success rate...

Big update: DW just retired!! :dance: After moving to another new job last year, we came to the realization that her line of work is stressful and frustrating, even part time, no matter the workplace. So, she gave notice and just finished her last work week. We're super excited. We signed...

Yes using them, with no issues. We switched 4 months ago. We’re using the Rxpass service, which costs $5 a month and includes all the (generic) meds DW takes. $5 total, not per-med. Walgreens was $59 a month after insurance for the same meds. So, $54/month savings, plus gas and time to...

Thank you. The information you've shared is exactly what I was looking for. I set up an account on IRS.gov and see the payment options. I found my state's department of revenue site and set up an account, which enables payment of estimated taxes. I went into my 401k and clicked through the...

I just retired at the end of last year. All of my previous taxes were withheld by my employers, so I'm not familiar with any of these processes. I haven't ever dealt with quarterly estimated payments. I don't have a separate traditional IRA (just a Roth and after-tax brokerage account). DW...

I'm looking at doing a Roth conversion from funds in my 401k, which is with Fidelity. I called Fidelity and was informed that they can do an in-plan conversion (to my existing Roth 401k). However, they can't withhold taxes. I would need to pay them myself, separately. Is there a wiki or...

Thank you for all of the replies! Rather than quote and respond individually, I'm just going to write. When I took the lump sum option for my main pension, I essentially "traded" the future non-COLA payments for that lump sum. I planned to then trade that lump sum for an SPIA. You have...

Good to know, thanks!

Great information, thanks. I had to Google "APTC". I'm learning lots of new acronyms here on ER.

Thank you for the verification. I've seen that discussion and will definitely be digging in further! Thanks for that. Where/when does that question get asked?

I retired last year. DW is currently employed, and we have health insurance through her employer. Our current plan is for her to retire at the end of this year. That would mean 12 years of ACA before we're both on Medicare. Most of our portfolio is pre-tax, and i-ORP shows issues with us...

This was valuable information. Thank you! I ended up at this site: Guaranty Association Laws, which indicates coverage is similar to FDIC at $250k per person per institution in my state. So for the $500k I'm considering using, I would need to purchase two $250k policies from different...

Are SPIAs backed by the government in any way, similar to FGIC or PBGC?

Thank you for all of the replies!! That's been my thinking, also, (diversification via multiple income streams mentioned by @Jerry1 and many other folks here) and some of the reason for my questions. DW is 52, so we have quite a few years of health insurance to figure out, and (probably)...

That makes sense. It seems like the same arguments could be made to take the lump sum (if available) as those to not buy an SPIA. Interesting. I didn't realize some companies do not offer a lump sum alternative. That has been my thinking as well, although SS is still 4 to 12 years out...

Update: It looks like DW might be retiring at the end of this year, rather than working another 5 years as originally planned. Exciting and scary at the same time! Now we really need to figure out our withdrawal strategy and ACA details.

Thank you. That's good to know!

I've noticed that quite a few ER members have non-COLA pensions, but at the same time the general sentiment is negative about SPIAs. They appear to be the same thing to me. Are they different somehow? When I retired last year, I chose a lump sum payout of a pension I had because the company's...

After reading the opinions here, I was almost spooked into giving minimal notice. But, I had great relationships with my leadership and throughout the company. They knew the value I brought (many millions of $ spelled out in every annual review), plus one manager who connected me with the FI...

I'll add this recommendation about sensor wiring that I recently received from an installer: If you're ever installing new sensor wires, especially any that will eventually be behind drywall, use network cables (Cat5, Cat6, etc.). You'll only use 1 pair of conductors, but now have a bunch of...

With the number of friends, family, and coworkers that have passed away or been diagnosed with something bad the past few years, my awareness that time and health are worth more than a bigger bucket of money was the biggest factor in my retirement decision. It sounds like, even knowing that, I...