How did you take your retirement payout?

[Over70irregs]

I’ll probably have to put his ass up in the strike bunker and feed him baby food and trulys…

Lol Trulys….too funny

 

[Coldworld]

That’s the part I dislike. Making plans to take $ soon. Free $ while 50 to me is better than 60-70.

Yes…get the money now while you can still do something…might not really be feeling it in 20 year

Lol Trulys….too

 

[IVE GOTTA PACKAGE 4U]

That’s the magic number??

I was slightly incorrect

 

[oldngray]

I was slightly incorrect
View attachment 430535

It used to be around 78 to break even but too many variables to give an exact number for everyone.

 

[Coldworld]

I was slightly incorrect
View attachment 430535

It seems like it doesn’t really make sense unless you KNOW that you’ll make it to 80…but nobody has a crystal ball. I’d rather have the money available earlier to be able to tap into.

 

[IVE GOTTA PACKAGE 4U]

It used to be around 78 to break even but too many variables to give an exact number for everyone.

I had that number stuck in my head for some reason

 

[IVE GOTTA PACKAGE 4U]

It seems like it doesn’t really make sense unless you KNOW that you’ll make it to 80…but nobody has a crystal ball. I’d rather have the money available earlier to be able to tap into.

At least we are fortunate that we have a pension.
Most of America does not so they may have to wait a little longer to collect social security

 

[oldngray]

At least we are fortunate that we have a pension.
Most of America does not so they may have to wait a little longer to collect social security

And too many have very little in their 401k's

 

[IVE GOTTA PACKAGE 4U]

And too many have very little in their 401k's

I thought I should have a little bit more in mine until I looked at the national average.

 

[Coldworld]

I thought I should have a little bit more in mine until I looked at the national average.

The averages are not good.

 

[IVE GOTTA PACKAGE 4U]

The averages are not good.

 

[Coldworld]

View attachment 430541

I’ll have over a million (maybe 2) in our 401k by the time 62 rolls around. I haven’t put a ton of money in it per year…rarely maxed out but I have put in since it was available to us…it’s all about how early you start..and I have hammered this into my kids.

 

[IVE GOTTA PACKAGE 4U]

I’ll have over a million (maybe 2) in our 401k by the time 62 rolls around. I haven’t put a ton of money in it per year…rarely maxed out but I have put in since it was available to us…it’s all about how early you start..and I have hammered this into my kids.

Roth option is key..

 

[Coldworld]

Roth option is key..

To put more money into??

 

[Coldworld]

Roth option is key..

It has helped that both mrs cold and myself have 401ks…I think I use the Roth option on my 401k but don’t know if that’s the exact same as having a separate Roth

 

[IVE GOTTA PACKAGE 4U]

It has helped that both mrs cold and myself have 401ks…I think I use the Roth option on my 401k but don’t know if that’s the exact same as having a separate Roth

Have a separate ROTH just because I have more investment options

In 2025 our current lower tax rate will sunset.

 

[Coldworld]

Have a separate ROTH just because I have more investment options

In 2025 our current lower tax rate will sunset.

I’ve had individual Roths in the past and have used them for kid college but I’d never think about robbing the main 401k’s. I’ve also have read about the back door roths but really don’t know much about them. Im just a slow and study kind of investor…just feel relay lucky that I have that pension to tie everything together… I don’t take that for granted..ever!

 

[IVE GOTTA PACKAGE 4U]

I’ve had individual Roths in the past and have used them for kid college but I’d never think about robbing the main 401k’s. I’ve also have read about the back door roths but really don’t know much about them. Im just a slow and study kind of investor…just feel relay lucky that I have that pension to tie everything together… I don’t take that for granted..ever!

A back door ROTH is for people that make over the limits for ROTH

 

[Johney]

I’ll have over a million (maybe 2) in our 401k by the time 62 rolls around. I haven’t put a ton of money in it per year…rarely maxed out but I have put in since it was available to us…it’s all about how early you start..and I have hammered this into my kids.

Joe Biden is going to make sure that doesn't happen.

 

[IVE GOTTA PACKAGE 4U]

Joe Biden is going to make sure that doesn't happen.

Settle down