Retirees whatcha living on?..........

[TN2shot07]

Yep, a red flag is when they don't ask what portion of your savings are ROTH because that makes a big difference.

Like you mentioned above, having access to those funds in the years leading up to Medicare can definitely help with those premiums. It’s also nice from a large purchase perspective, i.e. you could make a large withdrawal to purchase a vehicle and not affect your income.

 

[schmalts]

Like you mentioned above, having access to those funds in the years leading up to Medicare can definitely help with those premiums. It’s also nice from a large purchase perspective, i.e. you could make a large withdrawal to purchase a vehicle and not affect your income.

You just made me realize that it is a double whammy. Because if you did pull 50K extra to buy a new set of wheels and were on the exchange the 2 types of 401 withdraws are light years apart on buying power and healthcare exchange rate

 

[mdhunter]

Retirement is a funny thing. Some people retire when they want to. Some people retire when they have to.

I could retire, but don’t as I feel such a responsibility to everyone that I have worked with in my career. I understand we all “can’t get off the bus at the same time” but it’s a burden (good type I guess) imho.

 

[Richard22]

I just spent my first full year in retirement. The wife and I tracked our spending for the entire year doing what we wanted, spending what we wanted. No mortgage and only debt is a truck purchased last year. We want $100k to live and do what we want. My pension provides half, the other half comes from an investment account. The one part of retirement I did underestimate was insurance and how much out of pocket cost that would be.

Private health insurance can eat you alive if you retire before Medicare kicks in. But if you can live on beans and franks for a few years before that happens, Healthcare.gov insurance is very affordable as a safety net if you're not in bad health.

 

[David58]

Retirement is a funny thing. Some people retire when they want to. Some people retire when they have to.

I could retire, but don’t as I feel such a responsibility to everyone that I have worked with in my career. I understand we all “can’t get off the bus at the same time” but it’s a burden (good type I guess) imho.

I have just gotten over that responsibility part. The old "pull the hand out of the bucket of water" thing is really how it works out.

But, yes, retirement is a funny thing. Letting myself retire has been a challenge I thought I would never face - but all done by June.

David
NM-->ID

 

[mdhunter]

I have just gotten over that responsibility part. The old "pull the hand out of the bucket of water" thing is really how it works out.

But, yes, retirement is a funny thing. Letting myself retire has been a challenge I thought I would never face - but all done by June.

David
NM-->ID

Can’t deny…

 

[mxracer317]

You can always bite the bullet and convert them to Roth, give Uncle Sam his cut now.

100%. Taxes are on sale right now.