Do you have more in credit debt than retirement?

[IVE GOTTA PACKAGE 4U]

High inflation is a killer for defined pensions.

... thank you Biden.

That's why I need to save your own money and the retirement plan so you can give yourself a raise.

Seriously want to talk to somebody's guys at work it's unbelievable how little knowledge they have about anything when it comes to retirement

They think $100,000 in your 401k is going to last in my lifetime....

 

[Babagounj]

I have the luxury of being able to support myself just on my pension.
Simple living is the key.
My 401K withdrawals are my mad money.
Once I start SS, my income will almost double.

The only thing I'm concern with is to not have too much income so that my medicare costs rises.

 

[IVE GOTTA PACKAGE 4U]

I have the luxury of being able to support myself just on my pension.
Simple living is the key.
My 401K withdrawals are my mad money.
Once I start SS, my income will almost double.

The only thing I'm concern with is to not have too much income so that my medicare costs rises.

I've read up a lot on that and it also has a 2-year look back on your income.
Bought them telling you what to do but you might want to take a little bit money out now and put it in a taxable account to see a good plastic with a large rmd later on.

 

[oldngray]

I have the luxury of being able to support myself just on my pension.
Simple living is the key.
My 401K withdrawals are my mad money.
Once I start SS, my income will almost double.

The only thing I'm concern with is to not have too much income so that my medicare costs rises.

I forgot about the hit on Medicare. I should have started taking distributions from my IRA even though I don't need the money yet. I am doing it this year. For this year it jumps if your income is over $103,000 I think. The sweet spot is after you retire and before you start taking Social Security.

 

[Babagounj]

I forgot about the hit on Medicare. I should have started taking distributions from my IRA even though I don't need the money yet. I am doing it this year. For this year it jumps if your income is over $103,000 I think. The sweet spot is after you retire and before you start taking Social Security.

Medicare decided a couple of years ago to double my monthly amount because a certain new drug was being added to their approved list of medications. After they made that increase , the drug maker really lowered their price, but my payments stayed doubled for the year.
One must be prepared for changes in one's medicare costs.
Nothing is constant.

 

[IVE GOTTA PACKAGE 4U]

Medicare decided a couple of years ago to double my monthly amount because a certain new drug was being added to their approved list of medications. After they made that increase , the drug maker really lowered their price, but my payments stayed doubled for the year.
One must be prepared for changes in one's medicare costs.
Nothing is constant.

Are you married?

 

[Babagounj]

Are you married?

Are you proposing ?

 

[oldngray]

Are you proposing ?

 

[IVE GOTTA PACKAGE 4U]

Are you proposing ?

I might switch sides with that big bank account...

 

[newfie]

37% of Americans owe more on credit cards than they have in their retirements savings, Ramsey survey says​

Google News

Comprehensive up-to-date news coverage, aggregated from sources all over the world by Google News.

news.google.com

americans have drained their savings and loaded up on credit card debt the past three years to deal with the inflation expenses.
this is not unique to retiree's

 

[newfie]

I think this for us is bigger than the election. This is a personal issue ignored and covered up consuming MSM

i would think the election is exactly about the economic squeeze the last 4 years have put on america.
or put another way how can the election not be about this?

 

[IVE GOTTA PACKAGE 4U]

americans have drained their savings and loaded up on credit card debt the past three years to deal with the inflation expenses.
this is not unique to retiree's

The difference between have and have nots is getting a lot bigger

 

[Just A UPS Guy]

You should be debt free when you retire

I would agree, but I won't pay off my house. I'm financed under 3%, so it doesn't make sense. However, I have stipulations in my trust to pay it off should I pass.

 

[newfie]

The difference between have and have nots is getting a lot bigger

the have's can make money in any market

 

[IVE GOTTA PACKAGE 4U]

the have's can make money in any market

And they have nots cannot

 

[burrheadd]

We know that’s not happening. Are you including house and car?

Yes

 

[Jkloc420]

Yes, i use it for porn

 

[rod]

I've NEVER paid a dimes worth of interest on a credit card. Ours are paid of automatically EVERY month.

 

[IVE GOTTA PACKAGE 4U]

I've NEVER paid a dimes worth of interest on a credit card. Ours are paid of automatically EVERY month.

WDFD

 

[Wally]

37% of Americans owe more on credit cards than they have in their retirements savings, Ramsey survey says​

Google News

Comprehensive up-to-date news coverage, aggregated from sources all over the world by Google News.

news.google.com

Livin' Large!