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I wish i was the one that got to sell this annuity packge....
An educated consumer would be my worst customer ha ha ha
ka-ching.....
I don't know what you mean. I don't know why you think there are good safe profitable investments now, or why you think immediate annuities are funny. There seems to be an inability here to believe that I know anything at all about any of this. All because I don't necessarily agree with all of the experts all of the time (which would be impossible, since they don't all agree that roths are better, under all conditions).
Withdrawals will factor into how much of your Social Security is taxed, but the Roth withdrawal itself is NOT taxed. And based on your economic situation, I suspect 85% of your Social Security will always be taxed anyway, so Roth withdrawals will not have an effect one way or another on that.
Did you mean to write that Roth withdrawals do not factor into how much of the Social Security is taxed? (Because other nontaxable income factors in, but not the income from a Roth.) This is one of the reasons I try to add to my Roth every year.
Did you mean to write that Roth withdrawals do not factor into how much of the Social Security is taxed? (Because other nontaxable income factors in, but not the income from a Roth.) This is one of the reasons I try to add to my Roth every year.
You are correct. Should have been a NOT.
Last edited by Ariadne22; 05-28-2011 at 07:22 PM..
Roths withdrawls are not included in the income total to see if you are over the limit and taxable for ss. . Only if you did a conversion do they count as income in the year of conversion.
No forum member is obliged to participate or answer a posters question. Asking for more clarification is understandable and often done. But I don't think criticism of the question is in the spirit of a good forum. We are all looking to be enlightened, and learning about others can be helpful. Knowing about other people can be an inspiration to us and sometimes help us make changes to our own life.
That's just my humble opinion.
I agree with this wholeheartedly. My earlier comment was based on being puzzled how anyone over the age of 55 or 60 could want to know how others are situated, because at this age we have whatever we have, we have done the best we could (informed or underinformed or uninformed, whatever). Certainly there is more to be learned every day about finance in retirement but at this stage it more or less is what it is. By careful moves now you could gain 20% but, outside of an inheritance, probably not a whole lot more.
It would have been easier to deal with a direct question such as "this is my situation at this age, and I'm wondering how it stacks up against others given my lifestyle (frugal or spendthrift)." Seems like the OP would gain more usable direct info with that approach, and we all always need usable information.
BTW, I searched for and couldn't find the early retirement forum or thread several of you referred to -- how to access??
Last edited by RiverBird; 05-28-2011 at 08:22 PM..
I don't know what you mean. I don't know why you think there are good safe profitable investments now, or why you think immediate annuities are funny. There seems to be an inability here to believe that I know anything at all about any of this. All because I don't necessarily agree with all of the experts all of the time (which would be impossible, since they don't all agree that roths are better, under all conditions).
the reason i said that is because you dont seem to have a comprehensive understanding yet of alot of things.
while i happen to like immeadiate annuities its all to easy for someone without a strong undertanding of these products to fall prey to variable annuities which are a whole other product and one of the biggest profit makers in the business.
even i who have a strong understanding would have fallen prey for them instead of the immeadiate annuity when i went to the bank last month to renew a cd. it sounded so good i think i would have bought one myself if i didnt know better.
guranteed 10% return a year for 10 years. what could be better than that ?
I agree with this wholeheartedly. My earlier comment was based on being puzzled how anyone over the age of 55 or 60 could want to know how others are situated, because at this age we have whatever we have, we have done the best we could (informed or underinformed or uninformed, whatever). Certainly there is more to be learned every day about finance in retirement but at this stage it more or less is what it is. By careful moves now you could gain 20% but, outside of an inheritance, probably not a whole lot more.
It would have been easier to deal with a direct question such as "this is my situation at this age, and I'm wondering how it stacks up against others given my lifestyle (frugal or spendthrift)." Seems like the OP would gain more usable direct info with that approach, and we all always need usable information.
BTW, I searched for and couldn't find the early retirement forum or thread several of you referred to -- how to access??
if folks didnt want to know this stuff money magazine would have dropped those makeovers and challenges decades ago.
the fact is it does make interesting reading for folks who like a benchmark comparison even though it may not apply to them. im sure not one person skipped over my own disclosure i put above.
its like sneaking a peak when the wind blows a womans skirt up lol.....
its stuff we arent supposed to see so that makes it all the more interesting.
when i used to get the fidelity investment magazine and they profiled their investors in articles i loved reading them. i enjoyed sneaking a peak,i enjoyed reading how they did it and their strategy and i liked when they talked about mistakes they made so i dont make the same mistakes.
thats why we allowed them to profile us one year and tell all our financial stats to their readers. we let money magazine do it too. it was no biggy and like i said religion and sexual preferences should be something that should be a whole lot more secreative if your worried about what people will think of you.
how many folks wear crosses or jewish stars advertising their religon? to me my beliefs are very private and not for public display.
theres a whole lot more people that will dis-like you based on those parameters than what you saved in your nest egg.
its just silly logic when you think about the big secreat issue
Last edited by mathjak107; 05-29-2011 at 02:56 AM..
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