Emergency cash needs change when you retire.

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  • Опубликовано: 23 дек 2024

Комментарии • 6

  • @radiok2ua
    @radiok2ua 13 дней назад

    What Nick starts talking about at the 11-minute mark (filling a tax bracket, IRMAA implications) is exactly why I think it's so important to work with a CFP. I don't know about most people, but I don't have the ability to look around corners and do that level of financial planning and tax planning on my own.

  • @dsull0127
    @dsull0127 19 дней назад +2

    Great information!! The example you used to re-fill the emergency $ from the IRA within a tax bracket sounds similar to doing Roth conversions.

  • @Astrotdog
    @Astrotdog 18 дней назад +3

    Good you are including IRMA
    Huge bite if not tracked

  • @conureron3792
    @conureron3792 16 дней назад +1

    Of course, once you retire, you don’t need to cover loss of work income. Emergency- is just for issues that arise with cars and house and maybe a medical emergency (cover the deductible). And, if you go ahead plan for a new roof or a wedding, that’s no longer an “emergency”. It’s a planned expense.

  • @roburb73
    @roburb73 14 дней назад +1

    I don't keep an emergency fund, but there's a reason why. I'm retired military with a disability compensation package. That provides me more than enough to pay mortgage, son's private school, car loans, etc! If I ever need money I can go to my taxable brokerage. It has never happened, but ... My wife also earns a $100k+ salary and there is about a .00001% chance of her being unemployed.