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

To: E_K_S who wrote (30176)	12/2/2018 10:28:30 AM
From: rnsmth	Respond to of 34328

We withdraw as little as possible. The more we withdraw we get into danger is the proportion of SS we have to pay taxes on. Last year we withdrew $6,000 dollars. Might be about the same this year, maybe less. We went to Europe for a month last year, this year we are only planning travel within Mexico.

To: E_K_S who wrote (30176)	12/2/2018 1:46:33 PM
From: Steve Felix	1 Recommendation Recommended By Graustus Read Replies (1) \| Respond to of 34328

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.

To: E_K_S who wrote (30176)	12/2/2018 2:38:59 PM
From: B.K.Myers	1 Recommendation Recommended By JimisJim Respond to of 34328

RE: "If it is an IRA or ROTH and are you at the point yet where you must take 'required' distribution from the IRA." That is not necessarily true with a ROTH IRA. There is no RMD for a ROTH, with a few exceptions (i.e. Inherited ROTH). Required Minimum Distributions The rules for required minimum distributions (RMDs) do not apply to the Roth IRA owner. They do, however, apply to the Roth IRA owner’s beneficiary. investopedia.com B.K.