Yoheadden
Recycles dryer sheets
- Joined
- Jul 27, 2019
- Messages
- 419
Firstly, thank you to everyone on this Forum for all the advice, information and suggestions posted. I find this a truly invaluable resource.
After years of being frugal and diligently saving, the DW and I are a little over 2 years from being able to ER. The problem I have is now my taxable accounts are only 10% of my overall savings and currently not enough to cover the 6 years until I can dip into my IRAs without penalty. I have time to add to my taxable accounts, but my question is, which accounts would you stop funding to do this.
The DW and I each have HSAs, Roths and Simple IRAs.
We each also have SEPs, but can no longer fund them.
I’m thinking the Roths since the HSAs offer multiple benefits and by not funding the Simple IRAs, our taxable income would increase by $33,000.
Has anyone else been in a similar situation and what did you do to fix it. Any other suggestions or ideas are welcome as always and thank you.
After years of being frugal and diligently saving, the DW and I are a little over 2 years from being able to ER. The problem I have is now my taxable accounts are only 10% of my overall savings and currently not enough to cover the 6 years until I can dip into my IRAs without penalty. I have time to add to my taxable accounts, but my question is, which accounts would you stop funding to do this.
The DW and I each have HSAs, Roths and Simple IRAs.
We each also have SEPs, but can no longer fund them.
I’m thinking the Roths since the HSAs offer multiple benefits and by not funding the Simple IRAs, our taxable income would increase by $33,000.
Has anyone else been in a similar situation and what did you do to fix it. Any other suggestions or ideas are welcome as always and thank you.