When I was working my income was too high to open Roth accounts. The deduction for traditional 401k contributions was beneficial. Now retired with a good sized IRA my tax bracket is way lower than when I was working. The IRA is only 27% of my investment portfolio. Converting to a Roth didn’t make sense and when I retired took my SS at full retirement age. Didn’t see the benefit of waiting until 70 and converting some of the iRA.
You may have a privileged life, but many millions in the US do not. You 1%’ers may have great healthcare, but the US system lags behind many other nations when it comes to covering citizens. We do not have the best healthcare system in then world. The current administration is looking to dismantle The ACA and millions will be hurt. Freedom of speech is being challenged as you write this. Yes, we have supermarkets, but many cannot afford to shop in them. Come on, you are looking at it as if everyone has what you have. Many Americans live as poorly as those in other countries, and it is getting worse under this administration. No, you cannot express your opinion without reprisal. See Stephen Colbert and Jimmy Kimmel. The US is going backwards, and you only see what you, as a 1%er, has. Look at what others do not have. You mention children elsewhere dying for need of a simple antibiotic. Well, RFK and his cohorts are doing their best to see we become an unvaccinated country, which will lead to many of the same problems other countries tries have. So, what exactly is your inconvenience you are writing about?
What many fail to realize is that those calculations of 4% or whatever ‘experts” recommend seem to always discourage spending any principal. For example, using Dick’s numbers, if someone has $607,000 saved, even if it was simply in cash or under their mattress, taking out the $24,288 would last 25 years. So, if this money is just earning money market rates below the 4% in his example, the income could be supplemented by taking out some principal. It is OK to spend down the money you spent your whole life accumulating.
When taking your RMD, you can keep your existing ETF or mutual fund and move it from your retirement account into a taxable account. You do not have to sell and buy.
The problem with investing in the market is you don’t know if it will go up even higher. The S & P had 57 all time highs in 2024 alone. This could continue for years
If he had 20% returns they would be published, just like if Trump was a great student he would proudly display his grades. Anyone can say they do great, but when they refuse to document it, beware.
Comments
When I was working my income was too high to open Roth accounts. The deduction for traditional 401k contributions was beneficial. Now retired with a good sized IRA my tax bracket is way lower than when I was working. The IRA is only 27% of my investment portfolio. Converting to a Roth didn’t make sense and when I retired took my SS at full retirement age. Didn’t see the benefit of waiting until 70 and converting some of the iRA.
Post: Contrarian Thinking About Roth Conversions
Link to comment from October 19, 2025
you don’t need to got Haiti. Visit poor neighborhoods in America. You will see many similarities.
Post: The 1% Club: Our Unnoticed Wealth
Link to comment from September 28, 2025
You may have a privileged life, but many millions in the US do not. You 1%’ers may have great healthcare, but the US system lags behind many other nations when it comes to covering citizens. We do not have the best healthcare system in then world. The current administration is looking to dismantle The ACA and millions will be hurt. Freedom of speech is being challenged as you write this. Yes, we have supermarkets, but many cannot afford to shop in them. Come on, you are looking at it as if everyone has what you have. Many Americans live as poorly as those in other countries, and it is getting worse under this administration. No, you cannot express your opinion without reprisal. See Stephen Colbert and Jimmy Kimmel. The US is going backwards, and you only see what you, as a 1%er, has. Look at what others do not have. You mention children elsewhere dying for need of a simple antibiotic. Well, RFK and his cohorts are doing their best to see we become an unvaccinated country, which will lead to many of the same problems other countries tries have. So, what exactly is your inconvenience you are writing about?
Post: The 1% Club: Our Unnoticed Wealth
Link to comment from September 28, 2025
What many fail to realize is that those calculations of 4% or whatever ‘experts” recommend seem to always discourage spending any principal. For example, using Dick’s numbers, if someone has $607,000 saved, even if it was simply in cash or under their mattress, taking out the $24,288 would last 25 years. So, if this money is just earning money market rates below the 4% in his example, the income could be supplemented by taking out some principal. It is OK to spend down the money you spent your whole life accumulating.
Post: There is no magic number – and it sure isn’t $1 million
Link to comment from September 14, 2025
A good reason to impose term limits
Post: 2024 Update to the OASDI Beneficiaries by State and County
Link to comment from August 30, 2025
Nope. That’s why those reporting numbers this administration doesn’t like get fired
Post: 2024 Update to the OASDI Beneficiaries by State and County
Link to comment from August 30, 2025
When taking your RMD, you can keep your existing ETF or mutual fund and move it from your retirement account into a taxable account. You do not have to sell and buy.
Post: Why Money is Taking Up More Space in My Mind Lately
Link to comment from August 23, 2025
The problem with investing in the market is you don’t know if it will go up even higher. The S & P had 57 all time highs in 2024 alone. This could continue for years
Post: Why Money is Taking Up More Space in My Mind Lately
Link to comment from August 23, 2025
If he had 20% returns they would be published, just like if Trump was a great student he would proudly display his grades. Anyone can say they do great, but when they refuse to document it, beware.
Post: How to Beat the Market
Link to comment from August 23, 2025
I wouldn’t touch anything with Trump’s name on it, based on his track record
Post: Trump Accounts: A Deep Dive into Kids’ Savings
Link to comment from August 23, 2025