Thank you for the video. I have watched many retirement financial planning videos, and, for me, this is one on the best with a ton of information packed into less than 19 minutes. I think the tip (at 2:39) you briefly mentioned of listing concerns and then how to manage the concerns is powerful. I am going to work on this today! Also, I will watch your other videos on Roth Conversions - perhaps they more get into optimizing and pay-off vs health insurance subsidies and taxes. In this case, I am guessing that the tax savings more than justifies loss of the ACA subsidies. BTW, you may want to consider breaking-out monthly heath-care expense in future examples.
What about ACA subsidies before Medicare? They will lose this if they do Roth conversions in the amounts recommended. Also, RMD’s start at age 75 for this couple, based on their current age.
I don't see the cost or real estate taxes in this cashflow. It is high in my state Massachusetts and I assume that is true in CA too. Is it included in their $96.3K in living expenses along with car/home insurance?
Having bonds and dividend stocks in a brokerage account has tax implications. All dividends and interest is taxable. But if in tax deferred it grows tax free till you withdraw it.
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Thank you for this video, great information
Glad you enjoyed it!
Great analysis. Thanks for sharing.
Glad you liked it!
Thank you for the video. I have watched many retirement financial planning videos, and, for me, this is one on the best with a ton of information packed into less than 19 minutes. I think the tip (at 2:39) you briefly mentioned of listing concerns and then how to manage the concerns is powerful. I am going to work on this today! Also, I will watch your other videos on Roth Conversions - perhaps they more get into optimizing and pay-off vs health insurance subsidies and taxes. In this case, I am guessing that the tax savings more than justifies loss of the ACA subsidies. BTW, you may want to consider breaking-out monthly heath-care expense in future examples.
Thanks for watching! And great feedback!
What about ACA subsidies before Medicare? They will lose this if they do Roth conversions in the amounts recommended. Also, RMD’s start at age 75 for this couple, based on their current age.
Addressed in video!
I don't see the cost or real estate taxes in this cashflow. It is high in my state Massachusetts and I assume that is true in CA too. Is it included in their $96.3K in living expenses along with car/home insurance?
Does the spending plan include their Social Security income or is it based strictly on investment withdraws?
Includes ss income
Having bonds and dividend stocks in a brokerage account has tax implications. All dividends and interest is taxable. But if in tax deferred it grows tax free till you withdraw it.
Addressed in video!
But tax deferred is taxed as ordinary income, which is at a higher rate than dividends and capital gains.
Not if you are in the 12% bracket! Qualified dividends in your brokerage are TAX FREE!!!!
A video on “How the one percent lives.” If living on “only” 8 grand per month is a realistic goal for you, you do not need to watch a you tube video.
I think you’d be surprised
3 percent.
8k per mo is nowhere near the 1% level.
I need $15k per month. I’m not top 1%.