I plan with the assumption that I'll never receive a nickel in social security or Medicare benefits.
This is one reason I've maxed my Roth IRA and contributed to 401k to try an balance the effect. This scenario also makes HSAs invaluable retirement tools.Pelayo said:
Medicare for all will be here for most of you so I'd plan on a lot higher taxes in retirement for those with the bulk of their savings in pretax retirement vehicles. Actual HC cost will be reasonable if you can live with the care inside the system.
Not sure how they could other than taxing the gains. That could create some legal issues.AliasMan02 said:
The government reneging on the tax protections of the Roths is one of my big fears.
Yep, me too.AliasMan02 said:
The government reneging on the tax protections of the Roths is one of my big fears.
This is what I see happening, if anything. They can't just go back and say "the gains you made for 30 years are now actually taxed after we told you they wouldn't be." A phase out is all that really makes sense.Pelayo said:Yep, me too.AliasMan02 said:
The government reneging on the tax protections of the Roths is one of my big fears.
More likely that they just phase out post-tax vehicles.
The Wonderer said:Not sure how they could other than taxing the gains. That could create some legal issues.AliasMan02 said:
The government reneging on the tax protections of the Roths is one of my big fears.
Gets into some potential due process and ex post facto issues. On the other hand, it's the government, so the fight against it would be difficult.AliasMan02 said:The Wonderer said:Not sure how they could other than taxing the gains. That could create some legal issues.AliasMan02 said:
The government reneging on the tax protections of the Roths is one of my big fears.
That's what I figure they will try. I know Obama wanted to fiddle around with some of that on a lesser scale but I'm just afraid the pot will be too tempting not to try just a 10% tax on withdrawals over a certain amount or something like that.
Roll 401(k) to Traditional IRA. Pay income taxes in your low, retirement bracket.jake2011 said:After tax brokerage account/ savings for pre 60 retirement money and pre tax 401K/IRA for after 60 money. If you have left over after tax money when you turn 60 it just gets added to the pot. Pre 65 when you can join Medicare (if it still exists by then) is a big wildcard for early retirees because of the crazy healthcare inflation we have been having.AliasMan02 said:
The issue I've been struggling with a bit is that I think my retirement at 60+ is basically handled by my tax protected investments that I can start drawing then. What I need to figure out is how to best start prepping for ages 50 to 60. I'm sure there are "no brainer" options for that but I need to dig in and find them.
how many units would you need to be comfortable to retireCS78 said:
No need to draw anything out really. Rent houses. The plan will be to pass them to our kids.
AliasMan02 said:
The government reneging on the tax protections of the Roths is one of my big fears.
Ive worked the numbers a bunch of different ways to figure out what's needed. For every 100k of free and clear houses, you can expect to get back about $550-$600 per month in after tax, all things considered cash flow. The great thing about it though is that doesn't include appreciation and everything tends to be inflation protected.OasisMan said:
how many units would you need to be comfortable to retire
This has always been in my alternative plans in the future if healthcare gets out of control more than today and goes the socialized way in this country. That and it would not surprise me we will eventually get taxed on our wealth down the road. I have heard these ideas from the left. The politicians, especially the left, will go where the money is and that is with the baby boomers in retirement. They will try and tax your wealth since they will not get enough from taxing passive income. If this happens I sell everything and vacate the USA for Thailand. Good healthcare, good food, and inexpensive to live and they want expats to retire there and bring their money.ColinAggie said:
Retire abroad for cheaper healthcare.
ColinAggie said:
Is this with a property management company or self managed?
Damn!Quote:
I'm 60 and have an 8th grader so never.
Lol! That kid lives the life of Reilly.aggieband 83 said:Damn!Quote:
I'm 60 and have an 8th grader so never.
aggieband 83 said:Damn!Quote:
I'm 60 and have an 8th grader so never.
cgh1999 said:Lol! That kid lives the life of Reilly.aggieband 83 said:Damn!Quote:
I'm 60 and have an 8th grader so never.
Good for you!jja79 said:aggieband 83 said:Damn!Quote:
I'm 60 and have an 8th grader so never.
His oldest brother turns 34 tomorrow. Damn is right.
jja79 said:aggieband 83 said:Damn!Quote:
I'm 60 and have an 8th grader so never.
His oldest brother turns 34 tomorrow. Damn is right.
They have little blue pills for that sort of problem.jja79 said:
I'm 60, not 100.