My lifestyle never changed. It was easy to calculate to keep MAGI at the number you want. I did plan and saved up a good chunk of cash for the years before Medicare kicked in. At 62 we paid $7 for our Bronze plan, at 63 it was $19, 64 was $39. Never made an IRA or brokerage withdrawal. We took SS at our FRA.
When I retired at 62 before Medicare & SS I was able to keep my MAGI so low that I paid $7 monthly for a great Bronze plan. That $7 covered both wife and I. I never thought it was fair because I had over $2M in TIRAs, ROTH and Brokerage accounts, but I planned or it and didn't hesitate to take advantage of "the loophole."
The Automatic start-stop systems that they gave manufacturers incentives to install on vehicles was the most idiotic technology developed in motor vehicle history.
When I retired I started to get back into fly fishing. I didn't go overboard with high end equipment. But as the seasons went by I added to what I had with some better quality stuff. I guess I felt since I got better swinging the fly line, I should spend more on my hobby. Glad I did, when I'm in the water and fly fishing it's the most relaxing times I have.
Excellent post.
"There is no luggage rack on a hearse."
Note: I'm 69 and last year I ordered some gutter guards on Amazon . They were easy to install. Saved me from going up and down on the ladder every autumn.
I think most of us have been through periods like this. It's called THE MARKET. I never made any adjustments in my portfolio for decades. And I'm glad I never did.
For all of us who have most of their retirement income in TIRAs, why all the fear about taking an RMD? Remember when they were drilling into us that the taxcuts were going to expire? What happened? seniors got more deductions. Sean Mullaney has some interest takes on this. We're saturated with Youtube videos by 30yr old "financial experts" telling us to do Roth conversions now and they know nothing about us and what the future holds for senior tax reduction benefits. As for me, I have been doing small conversions just to benefit my heirs. But my TIRA balance continues to grow each year and I am happy with that.
Comments
What you did is called, "winning."
Post: There is no such thing as a tax loophole, but here they are anyway
Link to comment from May 18, 2026
My lifestyle never changed. It was easy to calculate to keep MAGI at the number you want. I did plan and saved up a good chunk of cash for the years before Medicare kicked in. At 62 we paid $7 for our Bronze plan, at 63 it was $19, 64 was $39. Never made an IRA or brokerage withdrawal. We took SS at our FRA.
Post: There is no such thing as a tax loophole, but here they are anyway
Link to comment from May 18, 2026
When I retired at 62 before Medicare & SS I was able to keep my MAGI so low that I paid $7 monthly for a great Bronze plan. That $7 covered both wife and I. I never thought it was fair because I had over $2M in TIRAs, ROTH and Brokerage accounts, but I planned or it and didn't hesitate to take advantage of "the loophole."
Post: There is no such thing as a tax loophole, but here they are anyway
Link to comment from May 18, 2026
The Automatic start-stop systems that they gave manufacturers incentives to install on vehicles was the most idiotic technology developed in motor vehicle history.
Post: HumbleDollar’s HumbleDrivers
Link to comment from May 13, 2026
When I retired I started to get back into fly fishing. I didn't go overboard with high end equipment. But as the seasons went by I added to what I had with some better quality stuff. I guess I felt since I got better swinging the fly line, I should spend more on my hobby. Glad I did, when I'm in the water and fly fishing it's the most relaxing times I have.
Post: Retirement Toys
Link to comment from May 4, 2026
Like many of us have said before - A personal financial course should be taught and mandatory in High School.
Post: Investing Fundamentals: A Simple Guide for Beginners
Link to comment from April 24, 2026
Excellent post. "There is no luggage rack on a hearse." Note: I'm 69 and last year I ordered some gutter guards on Amazon . They were easy to install. Saved me from going up and down on the ladder every autumn.
Post: Getting Older
Link to comment from April 8, 2026
Sorry but I found your post a bit on the sad side. There is nothing more rewarding than raising children.
Post: Financial regrets about parenthood?
Link to comment from April 5, 2026
I think most of us have been through periods like this. It's called THE MARKET. I never made any adjustments in my portfolio for decades. And I'm glad I never did.
Post: Any concern?
Link to comment from March 31, 2026
For all of us who have most of their retirement income in TIRAs, why all the fear about taking an RMD? Remember when they were drilling into us that the taxcuts were going to expire? What happened? seniors got more deductions. Sean Mullaney has some interest takes on this. We're saturated with Youtube videos by 30yr old "financial experts" telling us to do Roth conversions now and they know nothing about us and what the future holds for senior tax reduction benefits. As for me, I have been doing small conversions just to benefit my heirs. But my TIRA balance continues to grow each year and I am happy with that.
Post: Something to Think About
Link to comment from March 25, 2026