Share Your 2025 Milestones

[Koolau]

I waste $20 on lotto occasionally. I have even played powerball when it was approaching a billion with a B, but I’m not even sure I want to win that much money. A few million? Okay, but hundreds of millions would require a completely new life, including hiring a security team. Good problem to have?

But at 1:292,201,338, not much danger…

Think of all the new friends you would have!

 

[Koolau]

[NOTE: This is in no way a criticism of mykes2025]

With the recent influx of bond CEF knowledge, I now know that income can hold steady or grow while the underlying assets decline. Hmm. I already knew that from dividend stocks, but CEFs seem to be a more extreme case.

Yes, I've been reading with great interest about CEFs but just can't get past that issue. Maybe the reason I never became a dividend investor either.

BUT, I am still interested and enjoy reading the success stories here in these pages.

 

[TickTock]

BUT, I am still interested and enjoy reading the success stories here in these pages.

I know that I don't understand bond CEF's well enough to feel comfortable adding them to my portfolio, nor am I interested in monthly or quarterly trading.

But like you, I am interested and enjoy reading about them here. I in general enjoy learning about personal finances / investing, even if it's not something that I'm interested in adding to what I do.

 

[Waynew]

I hit $104.5K in YTD covered call options income this week. I wasn't expecting to hit $100K until mid-year, but the market volatility made options rolls far more profitable. I think I should set a goal of $200K for 2025 options income. Only need another $93.5K to get there in eight months. That will be easy.
I'm also more than half way to satisfying my 2025 RMD using QCD giving. Then I will do like I do every year: roll assets from my traditional IRA to my ROTH. That creates even more options and dividend income without income tax liabilities.

 

[Koolau]

I hit $104.5K in YTD covered call options income this week. I wasn't expecting to hit $100K until mid-year, but the market volatility made options rolls far more profitable. I think I should set a goal of $200K for 2025 options income. Only need another $93.5K to get there in eight months. That will be easy.
I'm also more than half way to satisfying my 2025 RMD using QCD giving. Then I will do like I do every year: roll assets from my traditional IRA to my ROTH. That creates even more options and dividend income without income tax liabilities.

Those are significant income numbers. Congrats! How will you Roth convert without tax liabilities?

I basically ceased Roth conversions when I began RMDs at age 70. I didn't want the extra income/tax liability.

 

[Waynew]

Those are significant income numbers. Congrats! How will you Roth convert without tax liabilities?

I basically ceased Roth conversions when I began RMDs at age 70. I didn't want the extra income/tax liability.

I should have been more clear. What I meant is "future tax year liabilities." Because I am married, and my wife is 6.5 years younger than me, it is highly likely that I will pass before she does. Filing as a single person is a killer from an income tax perspective. Therefore, I want to pay the tax now (and stay in a reasonable tax bracket) rather than paying in the future. The small tax today is a price I am willing to pay rather than saddling my wife with a much higher tax.

 

[Koolau]

I should have been more clear. What I meant is "future tax year liabilities." Because I am married, and my wife is 6.5 years younger than me, it is highly likely that I will pass before she does. Filing as a single person is a killer from an income tax perspective. Therefore, I want to pay the tax now (and stay in a reasonable tax bracket) rather than paying in the future. The small tax today is a price I am willing to pay rather than saddling my wife with a much higher tax.

Gotcha! I did somewhat the same thing in my youth (you know - before SS/MC). Converted all my tIRAs to Roth - but still have the 401(k) to deal with. I guess she'll just have to pay the extra taxes or find a young guy to take my place.

 

[big-papa]

2025
1. DW started medicare this month. Due to a mis-read on my part, her Part G plan starts in May.
2. Built TIPS ladders (1 as an SS bridge for me, and a 30 year ladder for each of us) after realizing #3 below.
3. Realized that #2 above + dividends from the stock fund in our taxable account will cover all nondiscretionary expenses, including tax, leaving stock sales for fun stuff and lumpy expenses

For 2026
1. DW will start SS
2. I will go on medicare

Ongoing
1. Will continue Roth conversions of the stock holdings in my IRA every December until that's done. Like others, it's to make life easier in the future for my DW should I pass first. (Increased tax rate due to filing single, loss of total value of SS income, reduce impact of potential future changes in SS). Conversions should complete long before RMDs begin.

 

[OnFire]

With the gains in the US stock market this week, we're back above $750k in investable assets, which is nice to see.

 

[Out of Steam]

I received my first Social Security payment while on vacation. Hope that the chaos will ease and I will be able to begin tax withholding from it. Would prefer not to go into the business of making quarterly estimated tax payments.

 

[lem1955]

In April, I finally quit my last VERY part-time job. I called myself retired while I was doing that job, but now it is real. I turn 70 this month and SSA says my application has been approved so I should see my first deposit June 18th. I've decided it is time to take up some senior activities (in addition to x-c skiing, cycling, hiking, and kayaking) so I've joined a Mah Jong group and am looking for pickleball near me.

 

[Flyfish1]

2025
Finally transitioned the IRA and taxable accounts to dividends, CEF's, REIT's etc...basically all income assets. It was a multi year transition.
DW's first SS check arrives this month.
Finally accepted that I don't need the big boat - listed for sale.
Decided that I would enjoy a small convertible instead.
Got my blood pressure in a normal range!
And it's only May!

 

[Dtail]

2025
Finally transitioned the IRA and taxable accounts to dividends, CEF's, REIT's etc...basically all income assets. It was a multi year transition.
DW's first SS check arrives this month.
Finally accepted that I don't need the big boat - listed for sale.
Decided that I would enjoy a small convertible instead.
Got my blood pressure in a normal range!
And it's only May!

A relatively cheap small convertible type is the Mazda Miata.

 

[Flyfish1]

A relatively cheap small convertible type is the Mazda Miata.

Yes, I see them around a lot. Looks like fun and relatively inexpensive. Has to be red though...lol

 

[Dtail]

Yes, I see them around a lot. Looks like fun and relatively inexpensive. Has to be red though...lol

The Mazda red premium color is one of the best I have seen. I have it on my Mazda SUV.

 

[Koolau]

A relatively cheap small convertible type is the Mazda Miata.

A bit difficult to get into and out of. Fun car, but not great for long distances to some of us old folks but YMMV.

 

[Dtail]

A bit difficult to get into and out of. Fun car, but not great for long distances to some of us old folks but YMMV.

Agree but Flyfish mentioned a small convertible. After playing Pickleball, much harder to get in and out of my BMW Z4 for the first hour afterwards.

 

[Finance Dave]

Need to decide which part of country we're going to move to in FIRE. MIL passed last year, so it's now time for us to move. We're visiting three areas that we're considering. Similar house will cost about $300k more than where we're at now...but we have planned for that. Hope to have a final location selected by end of this year.

Also doing large Roth conversions this year...have done them in the past but not nearly as large as this year. Selling of rental properties in the past few years prevented larger ones...didn't want to move up a tax bracket and pay IRMAA.

 

[Flyfish1]

Need to decide which part of country we're going to move to in FIRE. MIL passed last year, so it's now time for us to move. We're visiting three areas that we're considering. Similar house will cost about $300k more than where we're at now...but we have planned for that. Hope to have a final location selected by end of this year.

Also doing large Roth conversions this year...have done them in the past but not nearly as large as this year. Selling of rental properties in the past few years prevented larger ones...didn't want to move up a tax bracket and pay IRMAA.

Sorry for your loss. Do you care to share the areas you are considering to move to?

 

[Koolau]

Need to decide which part of country we're going to move to in FIRE. MIL passed last year, so it's now time for us to move. We're visiting three areas that we're considering. Similar house will cost about $300k more than where we're at now...but we have planned for that. Hope to have a final location selected by end of this year.

Also doing large Roth conversions this year...have done them in the past but not nearly as large as this year. Selling of rental properties in the past few years prevented larger ones...didn't want to move up a tax bracket and pay IRMAA.

Sorry for your loss. Do you care to share the areas you are considering to move to?

If I may also ask: Why do you wish to move (principally)? Weather? Better neighborhood? Lower crime? Etc.?

We moved for weather, ocean/mountains and new culture. We're pretty satisfied with our choice (Lower cost was not part of our thinking).

 

[JohnIL1975]

Just passed 3.5million. My goal was always 3m at 50 (Nov 2025). I am already struggling with the idea of OMY

 

[Surewhitey]

NW up 7% for 2025 (still earning) and knocking on the 3mm door @ 55&61. Spending replacement is in place...

Lots of travel and leaving for N GA for a cabin and all the family today. Trip #4 for the year. Now planning a month in Cozumel for Sept...DW can't decide on that or 3 weeks in Europe.

 

[big-papa]

Wife went on Medicare in April. Still a little over a year away for me. It wasn't at all fun seeing our ACA PTC evaporate when she did, however. But we knew about it and were ready when it happened.

After a full year of retirement (2024), and noticing that we had a lot more spending capacity than we were actually using, we dialed things back. Our day-to-day spending plan now comes only from income sources:
- Two, 30 year TIPS ladders that will take us to our mid 90's
- Two, SS bridges one of which is just an ultrashort bond fund for my wife, since she will begin SS in 2026 and the other being a 6 year TIPS ladder bridge for me, who will start SS at age 70. Both of these, of course, will be replaced by actual SS benefits at some point.
- Dividends thrown off by the stock in our taxable account, since those happen anyway. We can live with the variability.

Selling shares of the stock fund in our taxable account is now there for lumpy & discretionary expenses, including paying additional tax for Roth conversions that we do in December. It, along with the stock we're Roth converting is there for future contingencies (possible SS cuts, supplemental spending for my wife should I pass first, etc.). We also have I-bonds that begin to mature in our mid 80's over the course of 10 years that can also be used for contingencies. Whatever we don't spend, goes to the kiddo & charity.

Cheers.

 

[F.I.R.E User]

$997,500 all-time high today but I might be a ‘secret’ millionaire today. Waiting for Empower to update tomorrow.

I was at $997,000 on 2/20.

Age: 47.

 

[Koolau]

^^^^^^^

Way to go! Congratulations on your fist million. Rounding is okay.