I have NOT been lurking
Eat. Sleep. Work. Jork.
Yes
Why a 401(k) Will Yield You More Money Than a Pension
- Thread starter ThePackageDeli
- Start date
Jkloc420
Do you need an air compressor or tire gauge
He makes up fake threads about how gay he is 2
Just A UPS Guy
Bully.
Those aren’t fake...
I have NOT been lurking
Eat. Sleep. Work. Jork.
Figures. FedEx Suoervisors from Ohio should be genocided
Thebrownblob
Well-Known Member
Settle down Lard ass.
Jkloc420
Do you need an air compressor or tire gauge
He won't have any problems
Jkloc420
Do you need an air compressor or tire gauge
Just wanted you guys to like me
Just A UPS Guy
Bully.
Two more hours.
Thebrownblob
Well-Known Member
I have NOT been lurking
Eat. Sleep. Work. Jork.
Not yet
Thebrownblob
Well-Known Member
You better buy the nicest one because you’re going to be retired and living in it.time to cash out the 401k early , daddy needs a kubota
it
Babagounj
Strength through joy
You has to watch these changing IRS Rules.
www.forbes.com
Forbes
Money
Wealth Management
Gift and Estate Tax Exemption: The amount you can give during your lifetime, or at your death, and be exempt from federal estate and gift taxes has risen from $12,060,000 to $12,920,000. This means that a married couple could gift more than $25 million in assets tax free. This exemption is, however, going away in 2026 as it reverts back to the prior exemption amount of $5 million, adjusted for inflation, or $7,000,000.
For surviving spouses, the martial deduction for gift and estate taxes remains unlimited except for surviving spouses who are not U.S. Citizens. For non-citizen spouses, the marital deduction is $175,000 for 2023.
Annual Exemption: In addition to the lifetime exemption, there is also an annual gift tax exemption. That annual exemption goes from $16,000 to $17,000, in 2023 for each person you make a gift to in 2023.
IRS Announces Estate And Gift Tax Exemption Amounts For 2023
The amounts exempt from federal estate and gift taxes are adjusted for inflation each year. The IRS has come out with the exemption amounts for 2023.
www.forbes.com
Money
Wealth Management
IRS Announces Estate And Gift Tax Exemption Amounts For 2023
The amounts exempt from federal estate and gift taxes are adjusted for inflation each year. The IRS has come out with the exemption amounts for 2023.Gift and Estate Tax Exemption: The amount you can give during your lifetime, or at your death, and be exempt from federal estate and gift taxes has risen from $12,060,000 to $12,920,000. This means that a married couple could gift more than $25 million in assets tax free. This exemption is, however, going away in 2026 as it reverts back to the prior exemption amount of $5 million, adjusted for inflation, or $7,000,000.
For surviving spouses, the martial deduction for gift and estate taxes remains unlimited except for surviving spouses who are not U.S. Citizens. For non-citizen spouses, the marital deduction is $175,000 for 2023.
Annual Exemption: In addition to the lifetime exemption, there is also an annual gift tax exemption. That annual exemption goes from $16,000 to $17,000, in 2023 for each person you make a gift to in 2023.
oldupsman
Well-Known Member
And that line says it all. You obviously have financial discipline since you figured all this out.
How many guys you work with have the same. Not many I worked with either.
Want to collect the most. Get out as early as possible. I'll never understand these 40 and 50 year guys.
I got out at 55. I'm 71. So far I've collected over $700,000 in pension benefits. Money for nothing,
chicks for free.
My health is excellent(knock on wood). Living 20 more years is entirely possible. Collecting somewhere
between 1.5 to 1.8 million is quite feasible. I gotta tell ya, I'm quite happy with that outcome.
Last edited:
DELACROIX
In the Spirit of Honore' Daumier
oldupsman
Well-Known Member
Nope, Philly. They done a very nice job using reasonable numbers for retirement.Must be under the Western....
Currently funded at over 80%. Not every plan in the country is in the toilet.
anonymous23456
Well-Known Member
You did good. I'm only 53. By the time I retire I will have to get a job at Amazon or some company like that if Amazon is not around as PVD or UPS PVD.
oldupsman
Well-Known Member
A pension isn't supposed to cover the income you lost. It's supposed to be part of your
overall retirement plan. I've worked different part time jobs since I've retired. Still do.
Too many guys get this idea into their head, "Well, I'm making $100,00 a year
driving package car, that should be what my pension number is or at least close
to it. That's absurd.
It's supposed to be a safety net that makes your retirement comfortable. And that's
exactly what mine does.
Gabba
It's a vicious cycle
My father retired in 2008. his IRA (which was mostly his 401k rolled over) bottomed out at a million. he's rather thrifty and has only taken his RMDs out. never had any roth despite my mild advisement to do some conversions. His IRA is currently 3.2 million.
