POLL - Are you truly fully retired? Meaning your income is passive from Investments, SS, Pensions, Annuities Etc. you do not work at all for income.

[1242Vintage]

Am a very part-time independent engineering consultant and occasionally get a call from a prime contractor to help “bail-out” a public works project that has a funding shortfall.

It’s interesting work that keeps me in touch with a community of colleagues who manage Federal, State and local grant and related funding programs.

 

[MarieIG]

Fully retired as defined.

 

[Badger]

I only volunteer for a Friday program with Radio Reading Service at our local PBS station for the vision impaired.

 

[jollystomper]

I voted "no", but I do get income from "things I would volunteer for, but they insist on throwing money my way". For example, I work as an election judge in our county, a role I find interesting and enjoy serving the community, but they insist on paying me for it. And I helped a friend untangle the spreadsheets used in his business, and helped one of his helpers get started on better managing that and other data, and he insisted on paying me - my view was "you're my friend, I am happy to help you out", his view was "you solved a business problem for me, my ethics require that I pay you for that" .

 

[Diogenes]

...I’m sure many consider that being a landlord you still own a business.

I got my RE License after I retired from Mega Corp. I still sell an occasional house ...

I starting working a hobby-job that I love the day after I retired from my mega-corp. ...

Am a very part-time independent engineering consultant ...

To me, there is a simple distinction. Jones was a software developer with Microsoft. Started in 1980. Worked full-time for 40 years, and left the company with a golden 5 1/4" floppy disk in 2020. Today, Jones teaches computer science part-time at the local community college. He owns a small apartment-complex, and manages it himself. He also does occasional software consulting. I consider Jones to be retired.

 

[flyingaway]

Retired more than 4 years ago and have not made a penny yet. I would not have retired from a tenured professor position at 57 if I might need to make any money in the future. My passion is travel, so if I am not on travel, I am planning on travel. Other interests include gardening, fruit trees, fishing, gambling, card playing, etc.

 

[flyingaway]

The actual poll and the title are contradicting.

 

[38Chevy454]

Voted no, as I don't receive any paid income. But I do have a small home based business that after all legal deductions gives a small write off on taxes. So financially benefits me, but no paid direct income. I consider myself and DW fully retired.

 

[gumshoe]

Interesting. We don't have a rental property anymore, but I recall our CPA used Schedule C even though a property management company ran the property for us, and we had near zero involvement.

You had a smart CPA who took advantage of categorizing your rental property as a "Business" rather than earning passive income:

Claiming rental income as a business rather than passive income offers several advantages under IRS rules:

• Passive vs. Active Income: Active income is subject to self-employment tax, while passive income is not. This can lead to a lower tax burden for active income earners.
  Loss Utilization: Active income allows for the deduction of losses against other active income, potentially reducing taxable income. Passive income losses can only be deducted against other passive income.
  Business Deductions: Businesses can deduct a broader range of expenses, including advertising, maintenance, and travel, compared to passive income, which has limited deductions.
  Tax Strategy: Active income can be strategically used to offset taxable income, while passive income is more conservative in its tax treatment.
  https://www.bing.com/ck/a?!&&p=8884...Ly93d3cuaXJzLmdvdi90YXh0b3BpY3MvdGM0MTQ&ntb=1
  
  
  

 

[Major Tom]

The actual poll and the title are contradicting.

Maybe that was done on purpose? Some personality tests will ask the same question in several different ways, to ensure that the participant is paying attention and answering appropriately.