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Old 02-02-2015, 08:28 AM
 
2,429 posts, read 3,228,824 times
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Thanks for letting me know how that came off. Not intended that way at all. Always good to know how ones words could be received (especially when just in print, with no voice inflection or direct conversation).
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Old 02-02-2015, 01:53 PM
 
Location: SoCal desert
8,093 posts, read 13,247,952 times
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Quote:
Originally Posted by jane_sm1th73 View Post
Why "of course"? It sounds like you are gloating about the fact that few seniors have traditional pensions! I'm sure you didn't mean it that way.
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Originally Posted by rdflk View Post
Thanks for letting me know how that came off. Not intended that way at all. Always good to know how ones words could be received (especially when just in print, with no voice inflection or direct conversation).
I didn't read it that way at all.
I saw it as a way of deflecting the usual flurry of posts about "are your retirement accts fully funded?" or "it depends on what else you have" ... Ad nauseam
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Old 02-02-2015, 02:59 PM
 
29,815 posts, read 34,907,142 times
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Quote:
Originally Posted by Newporttom View Post
That's the plan here also......
It is more common than might be realized
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Old 02-03-2015, 07:14 AM
 
Location: Jamestown, NY
7,841 posts, read 7,341,108 times
Reputation: 13779
Quote:
Originally Posted by TuborgP View Post
Bada Bing. We are a couple of years away from 70. She took her benefits at 62 and I took spousal off of hers at 66. When I take mine at 70 that and our spousal benefit pensions leaves the survivor golden and that is independent of investments. If either one of us couldn't live on that shame on them. It is more than our current income. When deciding how and when to do a lot the big prize was surviving spouses income. She even has nursing home care nailed and that was a factor. I dont mind having the inability to avoid SS taxes. The trade off is a fixed income that we are blessed to have.
That's exactly how I feel. I'd rather pay taxes than live in near poverty to avoid them. That always seemed to be the equivalent of cutting off your nose to spite your face to me.
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Old 02-03-2015, 07:18 AM
 
Location: Jamestown, NY
7,841 posts, read 7,341,108 times
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Quote:
Originally Posted by jane_sm1th73 View Post
Why "of course"? It sounds like you are gloating about the fact that few seniors have traditional pensions! I'm sure you didn't mean it that way.

What you bring up is truly a first world problem, as they say in the vernacular.
^^^
Quote:
Originally Posted by Gandalara View Post
I didn't read it that way at all.
I saw it as a way of deflecting the usual flurry of posts about "are your retirement accts fully funded?" or "it depends on what else you have" ... Ad nauseam
I read it the way Gandalara did, too.
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Old 02-03-2015, 09:30 AM
 
Location: Florida -
8,767 posts, read 10,864,802 times
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Quote:
Originally Posted by MrRational View Post
Municipal Bonds
I've heard others recommend Municipal bonds ... and wonder how this works when one is investing self-directed IRA funds?
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Old 02-03-2015, 09:42 AM
 
Location: Florida -
8,767 posts, read 10,864,802 times
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Quote:
Originally Posted by Escort Rider View Post
It seems to me you're looking for something which doesn't exist - "income that's not counted". But perhaps some tax-savvy poster knows something we don't and will come forward.

What is it with the emotional reaction about paying taxes on your Social Security? It's income. And we pay taxes on our income. In fact SS income gets preferential tax treatment. First, as you noted, only a maximum of 85% of it is ever taxable. Second, people who have little other income will not pay taxes on it at all.

You yourself gave an accurate analysis of your tilting at windmills when you wrote in your OP, "But I'm also not crazy about limiting my income just to avoid taxes". Indeed, I agree with that.
Part of the response may be that we already paid taxes on the income from which SS and Medicare payments were made (and that the government lumps SS right in with welfare, and calls them both "entitlements").

Overall, I think the greatest negative emotional reaction to taxes stems from aggravation over government spending waste, fraud and give-aways.

But, as you point-out, much of this is 'tilting at windmills' -- I likewise am not crazy about limiting my income to avoid taxes, but, RMD's will soon render both of those issues somewhat moot.
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Old 02-03-2015, 10:31 AM
 
71,811 posts, read 71,919,037 times
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Quote:
Originally Posted by jghorton View Post
I've heard others recommend Municipal bonds ... and wonder how this works when one is investing self-directed IRA funds?
you don't want to ever put them in an ira. they become taxable when you take money out. muni interest is also counted as income for magi purposes
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Old 02-05-2015, 08:04 PM
 
Location: Florida -
8,767 posts, read 10,864,802 times
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Quote:
Originally Posted by mathjak107 View Post
you don't want to ever put them in an ira. they become taxable when you take money out. muni interest is also counted as income for magi purposes
I was referring to redirecting money that already resides in a self-directed IRA - to Municipal Bonds; OR investing income from an IRA-based annuity to another IRA investment account, before RMD's are due.
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Old 02-06-2015, 01:25 AM
 
71,811 posts, read 71,919,037 times
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it may or may not be worth it. muni interest counts towards the magi number that determines if ss is taxed . if you are in a low tax bracket, taxable interest may be the better deal.

but in either case they both count towards the ss tax.
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