Search found 158 matches

by desertbandit442
Tue Feb 21, 2012 6:42 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Re: Retirement Strategic Planning Sanity Check

I want to thank everyone for your excellent inputs/suggestions. They will help me finalize the final piece of my Strategic Retirement Plan--dealing with my Traditional IRA assets. I will be looking at Traditional to Roth conversion information and tax implications the rest of the week so I can start...
by desertbandit442
Tue Feb 21, 2012 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Re: Retirement Strategic Planning Sanity Check

Why not start now? Why wait until age 60? I didn't want to do it for 2011 because the conversion would generate a taxable event and I didn't need any more taxable income showing up for 2011. I will look at it for 2012 as my overall income will be lower and the taxes on the conversion should not be ...
by desertbandit442
Mon Feb 20, 2012 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Re: Retirement Strategic Planning Sanity Check

You should not assume that converting a tenth of your traditional IRA every year between the ages of 60 to 70 is the best way to go. It may be that converting a different amount each year is the way to go. You should use tax software to figure out the most you can convert each year and pay (a) no e...
by desertbandit442
Mon Feb 20, 2012 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Re: Retirement Strategic Planning Sanity Check

Roth conversion of your traditional IRA is something you should be doing already. There does not appear to be any need to simply withdraw it and put it in a taxable account. Have you tried the calculator at http://www.i-orp.com ? Also be sure to test your tax calculations and conversion amounts wit...
by desertbandit442
Mon Feb 20, 2012 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Re: Retirement Strategic Planning Sanity Check

My lowest taxable income years will be between ages 60-70; therefore, I am thinking I should take my traditional IRA total and divide that total by 10--taking those payments each year to deplete my traditional IRA by the time I reach age 70. I can reinvest those IRA payments in Vanguard index funds...
by desertbandit442
Mon Feb 20, 2012 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Re: Retirement Strategic Planning Sanity Check

She will not have a lot of SSI on her benefits alone. My wife is three years younger than me, so about the time I get ready to start drawing my increased SSI at age 70, she will be able to draw full SSI benefits at 66 and 4 months. When she hits her full retirement age I'll file and suspend (even th...
by desertbandit442
Mon Feb 20, 2012 11:15 am
Forum: Personal Finance (Not Investing)
Topic: How do you value a pension?
Replies: 24
Views: 3292

Re: How do you value a pension?

I treat my pension like it is on the Bond side of my Stock/Bond Asset Allocation (AA) for investments. My pension is fairly secure because it is from military retirement, so I don't have the worries of it just disappearing like airline or auto company pensions. I value the pension like I had a lump ...
by desertbandit442
Mon Feb 20, 2012 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Strategic Planning Sanity Check
Replies: 12
Views: 1339

Retirement Strategic Planning Sanity Check

I have developed my Retirement Strategic Plan as I am 59 years old and married. I have military retirement pension pay, which I am receiving and we are living on now. We don't need social security to live on, so my plan is to wait until age 70 to take social security income (SSI), if my health remai...