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If you had a million in cash today...
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coup
Posted 11/24/2022 19:27 (#9948354 - in reply to #9948230)
Subject: RE: If you had a million in cash today...


USA
Boone & Crockett - 11/24/2022 16:58

Yogi - 11/24/2022 17:48

What I don't seem to understand is if you are a fairly successful person, plan for retirement, and end up at retirement age living actually as good or better than now why would you use tax deferred and risk being actually in a higher tax bracket. At least that would be my goal to avoid that also. Especially when social security is also taxed depending upon income. Also then you have mandatory withdrawals which would seem to make matters worse. Know a few people in that bind with traditional IRAs.
Im healthy, my wife is healthy, definitely defering social security to age 70. 62 now. I’d be tickled pink if I’m making more income in retirement than I’m making now while still actively working. Highly doubtful that’s gonna be the situation,but if it is, you won’t hear me complain. In the meantime, I ain’t much into giving Uncle Sam interest free loans of my money needlessly…..

Pretty foolish to defer taxes, thinking there is going to be a better deal down the road with way things look to be shaping up in this country.
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