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Strategies & Market Trends : Dividend investing for retirement -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (6077)	10/12/2010 11:55:41 PM
From: Steve Felix	Respond to of 34328

They are in Missouri, I think 6% state tax. In retirement they plan to move back to PA. Although our sales tax is higher, state tax is 3.5%. and we haven't yet discovered all their personal property taxes. My sister currently has 25% taken out for Federal taxes. Amounts to forced savings because they always get a big check back at income tax time. She writes a check quarterly to the state, I figure $513. I figured to add 25% to the $500 my brother in law wants, bringing it to $625. He is already at $668 a month average, with money left and a year to reinvest. I've learned my sister is a big worry wart. During our discussions when working on the transfer, she let me know she has a 401k worth $167k. Making 75k, she puts in 10% and her employer 12%. Unbelievable! Who does that? Once she retires ( another 4 years and $66k ), figuring out how to make her 25%, $5,000, from that shouldn't be a problem. I should have her problems. :) I really don't think she trusts me yet. She transferred her 401k totally to a money market account last week. She said that at least she knows what she will have. I didn't say anything. I'm working on my end. Glad you asked as I just realized that once she sells the one private reit in December, reits will actually make up less than 11% of her over all holdings.