Yarnstormer
Recycles dryer sheets
I live in georgia. I am 54. I have an inherited IRA that would pay about $5000 next year that I am required to take. That amount increases each year.
I receive ss benefits widow caring for a child under the age of 16 for the next year and a half. My child receives a social security benefit due to her father passing. Would her benefit be considered as my income since it is under my control?
I am trying to determine if I would be eligible for aca subsidy #1 now, and #2 after the widow benefit runs out.
I also have a pretty sizable brokerage account, and more in non taxable account. not really sure what the brokerage income is as I don't spend it. Just keep paying taxes on it!
Does rental income count towards the subsidy calculation?
At present I think my income would be too high for her to be on medicaid.
I am employed with group health insurance, but circumstances might require taking a break to care for my child and spend more time with her. At my work plan they are raising the max out of pocket to $4000 each next year. Up from $1500. Ouch. Too many aca fees and rising costs are to blame. I can cobra but I cannot remain in the plan past that.
I would probably be "ok" but of course I would prefer to wait to early/partial retire as getting employment in my late 50s might be problematic. Or not. You never know. Wish I knew how the health care situation is going to play out. Wish I were better at frugal living! Tho I suppose I am looking at some of the retirement incomes on here.
I do have skills that would enable me to work from home if needed, but not if it's going to cancel out subsidies!
Sent from my iPad using Early Retirement Forum
I receive ss benefits widow caring for a child under the age of 16 for the next year and a half. My child receives a social security benefit due to her father passing. Would her benefit be considered as my income since it is under my control?
I am trying to determine if I would be eligible for aca subsidy #1 now, and #2 after the widow benefit runs out.
I also have a pretty sizable brokerage account, and more in non taxable account. not really sure what the brokerage income is as I don't spend it. Just keep paying taxes on it!
Does rental income count towards the subsidy calculation?
At present I think my income would be too high for her to be on medicaid.
I am employed with group health insurance, but circumstances might require taking a break to care for my child and spend more time with her. At my work plan they are raising the max out of pocket to $4000 each next year. Up from $1500. Ouch. Too many aca fees and rising costs are to blame. I can cobra but I cannot remain in the plan past that.
I would probably be "ok" but of course I would prefer to wait to early/partial retire as getting employment in my late 50s might be problematic. Or not. You never know. Wish I knew how the health care situation is going to play out. Wish I were better at frugal living! Tho I suppose I am looking at some of the retirement incomes on here.
I do have skills that would enable me to work from home if needed, but not if it's going to cancel out subsidies!
Sent from my iPad using Early Retirement Forum