How is your traditional ira conversion going? i kinda looked into that but it kinda scared me. need to look again and talk to somebody smart. I just turned 60 so wonder if i should just cash in . A guy gonna pay tax either way and if we get new president in 2021 sure tax rates wont be as good.
Smaller amounts over time keeps you in the lower tax brackets.
What don't you so an in kind distribution, stay in the market and make your RMD smaller when they time comes.
I don't plan to touch my 401k or my wife's IRA until each reaches 70 and then the IRS requires you to start withdrawing.
I think I read somewhere the age was just increased to 72.
The secure act that just passed
Lots of people gonna get scammed into garbage annuities now.
Biggest rip-off on the planet
What are the major drawbacks of them? I aint got none or even checked into them much, But know my 90 year old daddy has some and really seems to like them. Wonder if i should say something to him, but he would just tell me to pound sand anyway.
Lots of hidden fees. They don't have to disclose everything like a mutual fund has to
At 90, I wouldn't fuss too much about it. Some "fixed" annuities might even be as good for his situation. If you inherit them, get them switched over though.
Actually, we have changed our minds after much thought. We are looking to build a new house in a retirement community in Griffin, GA. We like a change of seasons. Heat, bugs, and alligators year round don't sound agreeable.
south carolina is nice
Looks nice! What model house are looking at?
I am thinking an optioned out mid-range Abbeville or one of the bigger Magnolia models. You can easily add up to $50-70K in options like another bedroom/loft upstairs, extended garage, and sunroom on the back. This is a gated community with a golf course and giant clubhouse with a indoor pool and workout areas. Sidewalks, golf cart lanes, and hiking trails all over. Its about 35 miles South of Atlanta, housing is reasonably priced out that way.
