AUTHOR: Charles Ellison on 8/2/2025 FIRST: Jonathan Clements on 8/2 | RECENT: Rick Connor on 8/4
Comments
Below are a couple of links that lay it out. You can Google for more info. The one I looked into closely was from a broker who showed me ones from Athene, but I didn't see links for that particular product. I am in the fortunate position that I will never need the money in my current Roth IRA, or anything I end up converting. We ran every situation via Monte Carlo modeling, stressing it to both my wife and me that I will live to 100 years old. All the money in a ROTH will go to heirs. The other 2 options for more conventional rollovers are to pay taxes with cash or from conversion funds. Yes, paying with cash on hand is more advantageous over the long term. I just have a hard time paying with cash on hand, when it can be used for other things in my life, including long-term care when needed. CP_10RothConversion Flyer_39169ZPRT 4-25.pdf
I use the Fidelity Wealth Planner tools. I am happy with it, and I am starting to use it, along with my Fidelity wealth planner, to model Roth conversions before I reach RMDs in 10 years. Do any of the retirement tools noted offer better planning tools?
I am struggling with spending money in retirement. I guess it goes back to growing up dirt poor, with my parents strugging to make ends meet. I always just wanted to be in a position where i could buy a new refrigerator, furnace, car or what not if it needed to be replaced. I am thankfully in that postion and don't stress over those expenditures. My wife and I are 64 and both retired. Thru prudent saving/investing starting around 18 y/o, we now have a "liquid" net worth around $4MM and other real estate investments worth around $1.5MM in equity. (no debt) Some of the RE spins off cash. We both decided to go ahead and start SS a few months ago. I may not make it to 80, but my wite may make it to 100.. We currently spend about 75% of the cash our investments spin off and SS. We do not have to draw down on the capital, and will not need to for the foreseable future. If i need to replace something/spend money on something needed, it's not a problem psychologically.. We are home bodies with 4 dogs, and don't care to travel much. I have a problem actually spending money on frills, such as an upgraged tv, back up generator to have on hand "just in caser it is needed", nicer clothes etc. My wifes car is fairly new, but my primary driver is her hand me down 2007 Honda, but I do a have a couple older sports cars..Bottom line is I do not want to spend money unless absolutly need to. I do want to leave some money for our daugher to ensure her retitement is financially sound. I am just wondering why I afraid of spending more money and loosen up.
Thanks for the timley article. I will be 63 in June in my wife will be 63 in November. I have been retired for 5 years, and my wife will finally retire June 1 of this year. We will be able to use my old employers medical credits to bridge us for 2 years to get us to Medicare/65. We would loose our dental and vision when she retires. Do you have any thoughts on how we can get some level of coverage for each "reasonably"?
Being a retired engineer I like your thought process. Maybe I missed it but did you consider RMDs? Maybe draw further down now on taxable on IRA / 401 k distributions now vs when you have to take them which may push you into a higher tax bracket, vs delaying your wife's SS benefit to age 70? Also the on line planning tools several mention, do these offer modeling benefits vs what my wealth planner at Fidelity can offer using their Monte Carlo modeling?
Comments
Below are a couple of links that lay it out. You can Google for more info. The one I looked into closely was from a broker who showed me ones from Athene, but I didn't see links for that particular product. I am in the fortunate position that I will never need the money in my current Roth IRA, or anything I end up converting. We ran every situation via Monte Carlo modeling, stressing it to both my wife and me that I will live to 100 years old. All the money in a ROTH will go to heirs. The other 2 options for more conventional rollovers are to pay taxes with cash or from conversion funds. Yes, paying with cash on hand is more advantageous over the long term. I just have a hard time paying with cash on hand, when it can be used for other things in my life, including long-term care when needed. CP_10RothConversion Flyer_39169ZPRT 4-25.pdf
Post: ROTH Conversions and Fixed Indexed Annuities
Link to comment from October 12, 2025
I use the Fidelity Wealth Planner tools. I am happy with it, and I am starting to use it, along with my Fidelity wealth planner, to model Roth conversions before I reach RMDs in 10 years. Do any of the retirement tools noted offer better planning tools?
Post: Recommendations for Retirement Planning Tools
Link to comment from August 2, 2025
I am struggling with spending money in retirement. I guess it goes back to growing up dirt poor, with my parents strugging to make ends meet. I always just wanted to be in a position where i could buy a new refrigerator, furnace, car or what not if it needed to be replaced. I am thankfully in that postion and don't stress over those expenditures. My wife and I are 64 and both retired. Thru prudent saving/investing starting around 18 y/o, we now have a "liquid" net worth around $4MM and other real estate investments worth around $1.5MM in equity. (no debt) Some of the RE spins off cash. We both decided to go ahead and start SS a few months ago. I may not make it to 80, but my wite may make it to 100.. We currently spend about 75% of the cash our investments spin off and SS. We do not have to draw down on the capital, and will not need to for the foreseable future. If i need to replace something/spend money on something needed, it's not a problem psychologically.. We are home bodies with 4 dogs, and don't care to travel much. I have a problem actually spending money on frills, such as an upgraged tv, back up generator to have on hand "just in caser it is needed", nicer clothes etc. My wifes car is fairly new, but my primary driver is her hand me down 2007 Honda, but I do a have a couple older sports cars..Bottom line is I do not want to spend money unless absolutly need to. I do want to leave some money for our daugher to ensure her retitement is financially sound. I am just wondering why I afraid of spending more money and loosen up.
Post: Living It Up
Link to comment from November 30, 2024
Thanks for the timley article. I will be 63 in June in my wife will be 63 in November. I have been retired for 5 years, and my wife will finally retire June 1 of this year. We will be able to use my old employers medical credits to bridge us for 2 years to get us to Medicare/65. We would loose our dental and vision when she retires. Do you have any thoughts on how we can get some level of coverage for each "reasonably"?
Post: Juggling for Retirees
Link to comment from January 21, 2023
Being a retired engineer I like your thought process. Maybe I missed it but did you consider RMDs? Maybe draw further down now on taxable on IRA / 401 k distributions now vs when you have to take them which may push you into a higher tax bracket, vs delaying your wife's SS benefit to age 70? Also the on line planning tools several mention, do these offer modeling benefits vs what my wealth planner at Fidelity can offer using their Monte Carlo modeling?
Post: Some Now More Later
Link to comment from November 16, 2022