ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
In December 2020 DW will be 62, I will be 67. DW's FRA is 67, Mine was 66.
Personal Info:
Currently we manage MAGI to get the highest possible subsidy for DW by limiting Taxable Ordinary income (Interest & Dividends). I am obviously on Medicare.
We have way more than enough NON Qualified funds to use without a tax burden to last as far as our budget is concerned for the forseeable future. We also have qualified tIRAs that we will not touch until RMD time, even then we most likely will net need them, but the law is the law.
All the so called smart money pundits advise taking DW's SS at 62, and mine at 70. OK I get that. But if we do take it, we will no longer be able to enjoy DW's ACA subsidy. Basically ALL her SS wil go to halthcare and possibly then some.
Currently we live off Interest and dividend income from our NON Qualified stash. We augment anything extra that we need by simply drawing down on the same NON qualified stash. This has been a very successful for the last 15 years or so.
But we cannot keep saving forever. I think that the following strategy will work for us.
1) Keep spending as normal from NON Qualified stash.
2) IF ACA (Big IF), remains the same in 2021, then Do Not Take DW's SS.
3) Take DW's SS Equivalent from our Non Qualified Stash as if we were taking her SS and put it in Checking, then spend it as normal. Perhaps be a little frivolous with it.
4) Assuming nothing changes with the ACA, keep doing the same till DW is 65 and eligible for Medicare.
5) If ACA is removed or changed for the worse, then all bets are off.
What do you all think?
Personal Info:
Currently we manage MAGI to get the highest possible subsidy for DW by limiting Taxable Ordinary income (Interest & Dividends). I am obviously on Medicare.
We have way more than enough NON Qualified funds to use without a tax burden to last as far as our budget is concerned for the forseeable future. We also have qualified tIRAs that we will not touch until RMD time, even then we most likely will net need them, but the law is the law.
All the so called smart money pundits advise taking DW's SS at 62, and mine at 70. OK I get that. But if we do take it, we will no longer be able to enjoy DW's ACA subsidy. Basically ALL her SS wil go to halthcare and possibly then some.
Currently we live off Interest and dividend income from our NON Qualified stash. We augment anything extra that we need by simply drawing down on the same NON qualified stash. This has been a very successful for the last 15 years or so.
But we cannot keep saving forever. I think that the following strategy will work for us.
1) Keep spending as normal from NON Qualified stash.
2) IF ACA (Big IF), remains the same in 2021, then Do Not Take DW's SS.
3) Take DW's SS Equivalent from our Non Qualified Stash as if we were taking her SS and put it in Checking, then spend it as normal. Perhaps be a little frivolous with it.
4) Assuming nothing changes with the ACA, keep doing the same till DW is 65 and eligible for Medicare.
5) If ACA is removed or changed for the worse, then all bets are off.
What do you all think?