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Frequent Contributor

Re: Update after 4 years in early retirement


@PamInCali wrote:

R48, wracking my brain and I'm not sure about an image.... maybe?  Long red hair?  :-)


Pam ,if you don't recall, it is likely not you who posted (or e-mailed) a photo.

(I recall a photo of someone standing next to their red car.)

After your initial post, I posted:  "We have talked before...no?  On the old forums.  I seem to recall you and your situation."  To which you replied yes.

I have made hundreds of portfolio reviews and early retirement assessments for readers in the last 13 years.  Some standout in my memory...your's is one.  That you had a modest portfolio size, and low spending needs, yet early retirement was IMO, doable.  Glad to see your progress so far.  You used a lot of suggestions.  Such as, it is not everyday posters understand the IRS "substantially equal payments" Trad IRA withdrawals; even less who do so, eliminating the penalty for early withdrawal.  That you did this is great!

Best wishes ...keep plugging.

R48

 

 

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Follower ○○○

Re: Update after 4 years in early retirement

R48, yes I remember you from the old forums.  No, it probably wasn't me with the photo as I had a red car but that was like 20 years ago.  A little Geo Metro.

I am glad I learned so much on the forums and from you.  The SEPP withdrawals have really helped.  With that there is a cushion and not so concerned about my taxable account lasting for the 7 years that I required.  It's a good thing too since I have had a few one-time large expenses to cover.

I'll keep on doing what I'm doing.  My 20 year old granddaughter is living with me and 2 days ago we had a half-hour drive to a family dinner so... a lot of discussion about managing finances, how to invest wisely, goals, and a dream without a plan is a wish.  She also cooks and cleans so that's a bonus!  :P

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Explorer ○

Re: Update after 4 years in early retirement

I've been seriously considering divorcing for that very reason. I'm the no income person in the family, and SS would be non taxable if I'm single living with my (ex) husband. Being married would just put us in a higher tax bracket. We've been together a long time, so I would already get his SS if he should pass first. Health care, for the time being wouldn't be an issue because they allow "significant others" on the policy.

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Contributor ○○

Re: Update after 4 years in early retirement


@twinlabs wrote:

I've been seriously considering divorcing for that very reason. I'm the no income person in the family, and SS would be non taxable if I'm single living with my (ex) husband. Being married would just put us in a higher tax bracket. We've been together a long time, so I would already get his SS if he should pass first. Health care, for the time being wouldn't be an issue because they allow "significant others" on the policy.


You did not marry for money; so, why divorce for money?   Everytime I made a choice to reduce my taxes, it back fired on me in ways I could not even fathom possible.  I stopped doing that but you are free to test.

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Frequent Contributor

Re: Update after 4 years in early retirement

@twinlabs : Think it through, you may bring in more complications than tax savings.  

There are very few good reasons for divorce, either.

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Explorer ○

Re: Update after 4 years in early retirement

That's why I enjoy this forum..

Please.....I'm open to the downside of divorce that you think might happen that I'm not understanding.

Is it the increased possibility of being left? Marriage doesn't promise that. 

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Follower ○○○

Re: Update after 4 years in early retirement

If one of you is seriously ill or hospitalized, the well spouse has more clout and access,  I suspect, than the long term partner. 

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Frequent Contributor

Re: Update after 4 years in early retirement

@twinlabs : This is a private and serious matter between the two of you, who are the only qualified persons to assess the pros and cons of your marriage and your divorce.  

Personally, I just don't think that savings in tax and in finance planning is one primary factor (or even a factor) to consider for this matter.  

But just an input.

Best wishes.

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