MdaPetralia
Recycles dryer sheets
- Joined
- Oct 30, 2021
- Messages
- 80
I have been a long time follower on this forum and finally decided to join so I can contribute what/when I can.
I retired at 53 in early 2020 after 30 years of service in IT for the same mega corp. My DW does not work outside the home. We have no kids.
As COVID hit just around the time I retired, we have not traveled much. Only small day trips here and there. I'm a DIY guy so spending most of my time fixing/rehabing our house as well as serving as a volunteer handyman to family/friends (no interests in doing this as a full/part-time paid gig though). I also have been doing some volunteer financial coaching a few hours per month.
We both have medical issues and thus opted for the better, and more expensive retiree medical plan instead of an ACA plan after COBRA expired a few months ago. Medical premiums and out-of-pocket expenses by far are our highest expense (around $30K/year). I do get some subsidies from my former employer to off-set our medical premiums.
Our WR has been just under 2% the past 2 years and I'm estimating it to be just around 2% in 2022. We have no debt, live way below our means (we can't seem to shake frugality), and own our home outright.
Asset allocation is currently around 50/50, mixed among after-tax, 401K, ROTH and Traditional IRA accounts, with about 4-5 years of living expenses in cash.
About 30% of our assets are in pre-tax accounts so looking to do our first ROTH conversion by EOY to either the top of 12% tax bracket or 0% CG bracket (I'm having trouble convincing myself right now to push my CG/Div's into the 15% CG tax bracket when I can pay $0 tax on it). From what I'm reading and projecting our RMD's to be at 72 together with SS, I should do more but looking to play it conservative and go small our first year converting. I may post some questions in this regard as we get closer to the EOY and I fester a bit more about it.
I retired at 53 in early 2020 after 30 years of service in IT for the same mega corp. My DW does not work outside the home. We have no kids.
As COVID hit just around the time I retired, we have not traveled much. Only small day trips here and there. I'm a DIY guy so spending most of my time fixing/rehabing our house as well as serving as a volunteer handyman to family/friends (no interests in doing this as a full/part-time paid gig though). I also have been doing some volunteer financial coaching a few hours per month.
We both have medical issues and thus opted for the better, and more expensive retiree medical plan instead of an ACA plan after COBRA expired a few months ago. Medical premiums and out-of-pocket expenses by far are our highest expense (around $30K/year). I do get some subsidies from my former employer to off-set our medical premiums.
Our WR has been just under 2% the past 2 years and I'm estimating it to be just around 2% in 2022. We have no debt, live way below our means (we can't seem to shake frugality), and own our home outright.
Asset allocation is currently around 50/50, mixed among after-tax, 401K, ROTH and Traditional IRA accounts, with about 4-5 years of living expenses in cash.
About 30% of our assets are in pre-tax accounts so looking to do our first ROTH conversion by EOY to either the top of 12% tax bracket or 0% CG bracket (I'm having trouble convincing myself right now to push my CG/Div's into the 15% CG tax bracket when I can pay $0 tax on it). From what I'm reading and projecting our RMD's to be at 72 together with SS, I should do more but looking to play it conservative and go small our first year converting. I may post some questions in this regard as we get closer to the EOY and I fester a bit more about it.