Thanks for your article pointing out AGI and MAGI. I learned that just a couple of years ago. However, my take is, do not be sad to pay higher taxes, it usually means you can more than afford it! We all would like no taxes, but that is no longer an option.
A wonderful life lesson, you get what you work for. I much rather all my children work hard to build their life, than to be gifted. My life has been similar in many respects, and I like the idea of working for it. Keep these important articles coming. I just wish all the 20 year olds could read your article.
Very important and wonderful article. I was very lucky to have parents who taught me well, that the secret sauce to a LONG live is that social connection. Sure you have to blessed with good health too. I live in Independent Living with about 350 people who have rich social lives, and feel so privileged. Thanks for sharing such important life information.
Great article. Being a numbers guy, I made lots of calculations and also saw a breakeven at about 83 years old. My decisions were made when my wife was 62 years old. We decided to take hers early at 62, and maximize mine at 70. This has worked nicely for us. Now at 80 we hope to live to 100, do not look surprised, that is our goal, and if we make 86, or 96 it will not matter, as it is a plan. In life you will live happier, if you plan for the best, but stay flexible. You also be happier is you live ODAAT, one day at a time.
Congrats on making Lemonade. My son has done a similar thing. I believe you will inspire many. You needed to change and you found a wonderful solution. Keep building a fabulous life. Your writing and plan will help many.
Luckily, I am an index believer with 85% of my holdings. However, I always like to think, I can pick a few good stocks, Lucid was supposed to beone of them, and now with an 88% loss, it is too little to sell, so I will leave it to my great grands, hoping for a long term success. At least, I can say some stocks turn out to be highly successful, that is my Apple Stock. But overall, I am a Buffett believer, buy the haystack as many wise Humble Dollar people do, since I am a total believer in the S&P 500.
I was taught not to waste. I was taught to save for a rainy day. This has worked well for me. Thankfully, my savings are enough, and yes, I squeeze the toothpaste. I can't equate buying a home to toothpaste. That $10,000 more may get you piece of mind that will last 20 or 40 years, worth every penny. I owe everything to my wonderful, loving parents.
Mind twister. The most important thing about all this, is be sure to put your spouse as the beneficiary, and whoever dies first, again be sure to have the beneficiaries you desire. As both my wife and I are already taking RMD's the money that makes it to the children, will have 10 years to disperse. My take, that is a good thing to have.
Comments
Thanks for your article pointing out AGI and MAGI. I learned that just a couple of years ago. However, my take is, do not be sad to pay higher taxes, it usually means you can more than afford it! We all would like no taxes, but that is no longer an option.
Post: Tax Free Income Trap, Dealing With MAGI
Link to comment from April 25, 2026
A wonderful life lesson, you get what you work for. I much rather all my children work hard to build their life, than to be gifted. My life has been similar in many respects, and I like the idea of working for it. Keep these important articles coming. I just wish all the 20 year olds could read your article.
Post: A Life You Build
Link to comment from April 25, 2026
Congrats on a plan that makes sense for you both. Plan A looks great to me, and if it needs tweaking, you can handle it all.
Post: How it all pencils out–or at least, we hope so! (Our Big “Little” Move, Part 3)
Link to comment from April 25, 2026
Very important and wonderful article. I was very lucky to have parents who taught me well, that the secret sauce to a LONG live is that social connection. Sure you have to blessed with good health too. I live in Independent Living with about 350 people who have rich social lives, and feel so privileged. Thanks for sharing such important life information.
Post: Lonely Island (Correct Edit)
Link to comment from April 25, 2026
Great article. Being a numbers guy, I made lots of calculations and also saw a breakeven at about 83 years old. My decisions were made when my wife was 62 years old. We decided to take hers early at 62, and maximize mine at 70. This has worked nicely for us. Now at 80 we hope to live to 100, do not look surprised, that is our goal, and if we make 86, or 96 it will not matter, as it is a plan. In life you will live happier, if you plan for the best, but stay flexible. You also be happier is you live ODAAT, one day at a time.
Post: Rethinking the “Right” Time for Social Security
Link to comment from April 25, 2026
Congrats on making Lemonade. My son has done a similar thing. I believe you will inspire many. You needed to change and you found a wonderful solution. Keep building a fabulous life. Your writing and plan will help many.
Post: Around the Obstacles
Link to comment from April 25, 2026
It is in an IRA, no tax consequences.
Post: Driving Prices
Link to comment from April 25, 2026
Luckily, I am an index believer with 85% of my holdings. However, I always like to think, I can pick a few good stocks, Lucid was supposed to beone of them, and now with an 88% loss, it is too little to sell, so I will leave it to my great grands, hoping for a long term success. At least, I can say some stocks turn out to be highly successful, that is my Apple Stock. But overall, I am a Buffett believer, buy the haystack as many wise Humble Dollar people do, since I am a total believer in the S&P 500.
Post: Driving Prices
Link to comment from April 25, 2026
I was taught not to waste. I was taught to save for a rainy day. This has worked well for me. Thankfully, my savings are enough, and yes, I squeeze the toothpaste. I can't equate buying a home to toothpaste. That $10,000 more may get you piece of mind that will last 20 or 40 years, worth every penny. I owe everything to my wonderful, loving parents.
Post: Penny Wise, Pound Foolish
Link to comment from April 18, 2026
Mind twister. The most important thing about all this, is be sure to put your spouse as the beneficiary, and whoever dies first, again be sure to have the beneficiaries you desire. As both my wife and I are already taking RMD's the money that makes it to the children, will have 10 years to disperse. My take, that is a good thing to have.
Post: The IRA Decision That Affects Your Kids
Link to comment from April 18, 2026