Natvic1800
Confused about dryer sheets
Been lurking for a while and this is my first post. Definitely this will be my major source of everything as there's tons of info I could learn from this forum. Planning to retire at 62.
Hi
- Thread starter Natvic1800
- Start date
Montecfo
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Hi Natvic and welcome to the forum!
Are you nearing retirement or do you have a ways to go?
Are you nearing retirement or do you have a ways to go?
RetiredAndLovingIt
Thinks s/he gets paid by the post
Welcome, I've learned so much from this forum since I joined in 2018 after being laid off.
I'm worth more now than I was then thanks to what I've learned here.
Lots of excellent advice given here, people really want to help you and most of the time everyone gets along.
I'm worth more now than I was then thanks to what I've learned here.
Lots of excellent advice given here, people really want to help you and most of the time everyone gets along.
ImThinkin2019
Recycles dryer sheets
Hi Natvic, welcome!
As you have said, this forum is a great place to get good real-world helpful advice.
I have just retired at 64 and DW at 62. Probably the most useful thing we did was make a "first 10 years cash source plan". We keep referring to this because it's where we keep:
Also another tool we use is Pralana Gold retirement calculator. It cost about $100 but it's very useful for planning Roth conversions. It has functionality to model a different conversion every year - if we want - and to analyze three different scenarios at a a time. (I don't work for them - just a happy user.)
Like many, up until we retired we used numerous retirement calculators to be sure we had enough. The two we use most are 1) Firecalc, and 2) Fidelity.
Undoubtely you will hear good suggestions from others.
Best wishes to you on your journey. Sounds like you are on a good path!
As you have said, this forum is a great place to get good real-world helpful advice.
I have just retired at 64 and DW at 62. Probably the most useful thing we did was make a "first 10 years cash source plan". We keep referring to this because it's where we keep:
- Our projected SS incomes
- Our pensions
- Projected spending
- Projected taxes for Roth rollovers
- Medical coverage cost projections
Also another tool we use is Pralana Gold retirement calculator. It cost about $100 but it's very useful for planning Roth conversions. It has functionality to model a different conversion every year - if we want - and to analyze three different scenarios at a a time. (I don't work for them - just a happy user.)
Like many, up until we retired we used numerous retirement calculators to be sure we had enough. The two we use most are 1) Firecalc, and 2) Fidelity.
Undoubtely you will hear good suggestions from others.
Best wishes to you on your journey. Sounds like you are on a good path!
OP
OP
Natvic1800
Confused about dryer sheets
Thank you. Four years from now and I will be 62, been planning it on and off but definitely go for it. house paid off, no debt, daughter been working since graduated from college, 401K/IRA/Roth funded. Always live below my means, planning to reduce my work hours as my employer offer that option to employee. Biggest problem is medical insurance. It is kind of exciting but scary at the same time.
Koolau
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Welcome to the forum. Let us know how we can assist - just recall that our advice is officially worth what you pay for it because YMMV.
EastWest Gal
Thinks s/he gets paid by the post
I think the ACA will be there for you. Learn how to keep your MAGI under the ACA cliff and health insurance is a lot more manageable.
+++ We've been on ACA since 2014. We've kept our MAGI @ $60,000 by contributing to tIRA, and HSA. We'll be on Medicare this year but our monthly premiums for a Bronze HSA plan are less than $9/month. If you're healthy...this saves a lot of $$. The deductible is $7000/per but 100% coverage after that. On Medicare, we'll spend that on premiums alone.
Important: your zip code makes a difference.
OP
OP
Natvic1800
Confused about dryer sheets
Thank you everyone. I am so confuse or just say overwhelm about to create a trust or not to trust. My husband who recently passed away was unable to sign it the suppose trust. Would it be best to transfer assets in my name or just wait for that six months waiting period. I am just a bit scared to take action as I am not aware of consequences. Searching on our county website and going to IRS.gov but not sure. Help
OP
OP
Natvic1800
Confused about dryer sheets
The fun already started or I should say stress, in a way it is great as I will be learning all the stuff by myself and of course with the help from this forum.
Just curious. Was the Fidelity tool accurate? Please advise.
OP
OP
Natvic1800
Confused about dryer sheets
Congratulations. I will definitely keep the above bullet points in mind to make sure I am on the right track especially the roth conversion portion. I am taking a look at that Pralana gold tool.
wmc1000
Thinks s/he gets paid by the post
Welcome aboard, no pun intended 
pacergal
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I am sorry for your loss.
Is the issue for the trust due to proceeds from his work (pension?) or life insurance?
Maybe you could meet with a one time fee only financial planner or lawyer.
Perhaps you could start a new thread with your specific questions for member here?
OP
OP
Natvic1800
Confused about dryer sheets
Thank you. At times, these whole things are so confusing and I am scrambling reading about estate planning (I know it's too late). My lawyer advise me that I can wait 6 months after his death to create a trust for myself and my heir. The pension is taken care of and it will continue as long as I live. The life insurance is finally in progress, I submitted the required document. I am so glad that the deeds has "right of survivorship" language as it is a simple title transfer. Lesson learned do not procrastinate estate planning as no matter what we will eventually get there. We kind of put it on hold and the inevitable happened. At this point, I don't even know how to start a new thread (I will get there one day) today.
