02-07-2023, 08:13 PM
ken,
i believe in planning and options, i plan in order to have options in the future--because the future is hard to predict
i'm just a little older then you--i'll be turning 52 this spring with 27 years with my employer
i plan on retiring 59 to 62 years old
about 2 years ago i lowered my tax deferred kplan contributions from 16% to 6% (to still get full company match) in order to build up a non-retirement/tax deferred account in case i have to leave my job before that retirement age, plus to give me options of income when we're retired--i'm hoping i stay put for another 10 years or so--that's the plan anyways
we have
brokerage account
roth ira
401k tax deferred
403b tax deferred
traditional ira
about 10 years ago i did a trust-to-trust tax deferred transfer, from kplan to traditional ira--it was a non taxable event--it was done because at the time the company sponsored kplan did not have great fund options, and i felt i needed more investment choices--it was a good move
fast forward to 2023--the company sponsored kplan has some good choices, limited but the funds are good--so that's a plus
i'll just keep plugging away and saving--kplan--roth--brokerage account--every year like clock work
i don't think too much what i'll do once i retire because i'm not sure what the tax laws will be--but i do think about it
so....the plan
is to retire in the 59 to 62 age group and start doing roth conversions, to get that money out of tax deferred accounts--i'll most likely not get all the money converted but even if it saves me "x amount" once RMD's hit i'll be happy with the move
i might delay SS till 67, maybe even 70--i don't know
for know it's kind of just back of my mind
i'll be reassessing everything at age 55, and then again once i retire
i believe in planning and options, i plan in order to have options in the future--because the future is hard to predict
i'm just a little older then you--i'll be turning 52 this spring with 27 years with my employer
i plan on retiring 59 to 62 years old
about 2 years ago i lowered my tax deferred kplan contributions from 16% to 6% (to still get full company match) in order to build up a non-retirement/tax deferred account in case i have to leave my job before that retirement age, plus to give me options of income when we're retired--i'm hoping i stay put for another 10 years or so--that's the plan anyways
we have
brokerage account
roth ira
401k tax deferred
403b tax deferred
traditional ira
about 10 years ago i did a trust-to-trust tax deferred transfer, from kplan to traditional ira--it was a non taxable event--it was done because at the time the company sponsored kplan did not have great fund options, and i felt i needed more investment choices--it was a good move
fast forward to 2023--the company sponsored kplan has some good choices, limited but the funds are good--so that's a plus
i'll just keep plugging away and saving--kplan--roth--brokerage account--every year like clock work
i don't think too much what i'll do once i retire because i'm not sure what the tax laws will be--but i do think about it
so....the plan
is to retire in the 59 to 62 age group and start doing roth conversions, to get that money out of tax deferred accounts--i'll most likely not get all the money converted but even if it saves me "x amount" once RMD's hit i'll be happy with the move
i might delay SS till 67, maybe even 70--i don't know
for know it's kind of just back of my mind
i'll be reassessing everything at age 55, and then again once i retire