I'll be 64 next month, so no RMD for a while yet. Healthcare has been a game changer as far as our
retirement. If I had a pension instead of an IRA, we would be over the limit, and selling a CD every year,
along with costing us some of our income every month. As it currently stands, we still have the CDs that we
set aside for healthcare, and the checking account has grown a little over $1000 a month on average this
year. My wife would say it isn't for lack of trying to spend it, as I always hated shopping, but I have come to
like doing it from home. :)
I recently had a discussion with my oldest and her husband about college costs for their two boys. He has
handed down his GI benefits which would pretty well cover three years. My daughter brought up that maybe
one or both would attend the Naval Academy like their dad. Said they planned to set up 529 accounts or
something similar, but hadn't done it yet. They alluded to thinking that I might be asking if their was something
I could be contributing to. I finally just ask them outright if they planned to pay for the boys college so they
could graduate debt free. The answer was yes. Then we talked about what I wanted. I want to go the next
step. After they graduate, I want them to have a nest egg. Explained that I want the 5k I gave each at birth in
accounts that can be used to fund Roths as the boys work and become eligible. The money is currently in
UGMAs invested in Disney stock so that fits the bill.
Explained that there will be taxable events as they went along and I didn't care it they were paid out of the
boys accounts, but I think their eyes were glazing over by then.
You read about when these things go awry, but the times when they work out great never get mentioned.
My girls could have handled it just fine, and I doubt the boys will be any different. Never say never though,
so the chance you take.
I've had my mind on having 20k of income to fund these accounts. Healthcare keeping me from doing it
now. If I can last a few years it could make for a nice chunk of change.
I have been setting goals so long that it just comes natural. 20k a year will serve my purpose just fine,
but I noticed in last months report, I did it again:
2019 $20,000
2020 $21,500
Two year old is crazy about horses. Thinking this Ponycycle will be a big hit at Christmas. Got his brother the larger size.
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