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Califbill

Boating All Out wrote:
In article ,
says...

On Thu, 18 Jun 2015 11:47:13 -0500, Boating All Out
wrote:

In article ,
says...

On Thu, 18 Jun 2015 07:04:57 -0700 (PDT), wrote:

On Thursday, February 13, 2014 at 8:01:12 AM UTC-5, John H. wrote:
...calculation is very simple. Get the total value of your IRA's
(not Roth) as of the end of the
previous year, divide by a number provided in the IRS table, and
that's your minimum distribution.

Then give it to your kids as a Christmas present, minus the taxes you'll owe on it.

Simple, huh?

Or you could get involved in another hobby. Or buy some more guns,
or maybe a motorcycle.

So, all you youngsters have nothing to fear. Don't pay some CPA guy
to do your taxes for you.

Why can't the Gov't just stay the hell out of our lives? Are they
worried we will die with all that money in an IRA and they won't get
their taxes? Wouldn't an inheritance tax be bigger?
What a total waste of time and effort on everyones part.

IRA and 410k is a time bomb. They let you accumulate this money tax
free but they are coming after it with a vengeance when you want to
spend it.
Currently they also tax 85% of your Social Security at ordinary income
rates if you are not living in poverty so that old saw that your tax
rate will be lower in retirement is simply bull****.,.

Er..my tax rate is considerably lower since I retired.
So it's not bull**** to me.
What you just said, OTOH...

I am making virtually the same money in retirement with my pension and
SS as I was when I worked (20 years ago) and I haven't even started
drawing down my 401k and other investments.

So what? My income is about 36% of what is was when I was working.
And I'm living comfortably without drawing on my IRA lately.
But when I draw from it my tax rate is lower than when I was working.

I agree the tax cuts may have made rates lower than when you retired
but for how long?
When Listen to the democrats, there is no reason to assume these lower
tax rates will survive.

Doubt they'll be be raising my taxes. I'm low income.

You should have saved more and invested better. Less borrowing for boats
and cars.

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