Just as the stretch IRA rules changed, Roth IRA withdrawal rules could change too. For example, the tax on a Roth distribution could be based on AGI. The tax code is written in pencil. I think it’s a good idea to have traditional, Roth and taxable accounts..
I recently had to choose whether to take survivor benefits. I used Mike’s calculator and Maximize My Social Security, both of which gave the same advice. Thank goodness I used them because the reps at my local Social Security office gave me incorrect information.
You are the reason I have the comfortable financial life that I have today. I knew nothing to start out. I kept clippings of many of your WSJ columns for years until I figured I had finally internalized your advice. I am very sorry that you’re going through this health problem. Thank you so much for helping me and my family.
One of your best posts ever! And a good reminder to think outside the box and remember we’re all coming from different backgrounds with different issues.
I think Social Security benefits could be cut without people even knowing about it. That is what happened during the Obama administration. The change about file and suspend when filing for Social Security benefits was stuck into the Bipartisan Budget Act of 2015 and passed, I think, in December. Nothing from AARP to let us know about it. There was no push back from seniors or advocacy groups. I don’t think any of our representatives lost office due to supporting it. I don’t think anyone even knew about it. When you file now, you are deemed to be applying for any benefits you are eligible for.
Comments
Just as the stretch IRA rules changed, Roth IRA withdrawal rules could change too. For example, the tax on a Roth distribution could be based on AGI. The tax code is written in pencil. I think it’s a good idea to have traditional, Roth and taxable accounts..
Post: Trouble Ahead
Link to comment from February 6, 2025
I recently had to choose whether to take survivor benefits. I used Mike’s calculator and Maximize My Social Security, both of which gave the same advice. Thank goodness I used them because the reps at my local Social Security office gave me incorrect information.
Post: Death Benefits
Link to comment from October 19, 2024
You are the reason I have the comfortable financial life that I have today. I knew nothing to start out. I kept clippings of many of your WSJ columns for years until I figured I had finally internalized your advice. I am very sorry that you’re going through this health problem. Thank you so much for helping me and my family.
Post: The C Word
Link to comment from June 15, 2024
One of your best posts ever! And a good reminder to think outside the box and remember we’re all coming from different backgrounds with different issues.
Post: Begging to Differ
Link to comment from June 10, 2023
I think Social Security benefits could be cut without people even knowing about it. That is what happened during the Obama administration. The change about file and suspend when filing for Social Security benefits was stuck into the Bipartisan Budget Act of 2015 and passed, I think, in December. Nothing from AARP to let us know about it. There was no push back from seniors or advocacy groups. I don’t think any of our representatives lost office due to supporting it. I don’t think anyone even knew about it. When you file now, you are deemed to be applying for any benefits you are eligible for.
Post: Unkind Cuts
Link to comment from May 6, 2023