I Hate Retirees; That Right I Said It

[mic]

Yep, and now you gotta' pray the Govt. doesn't get it's hands on your retirement savings because they are eyeing I.R.A.'s for possible taxation if you earn over a certain amount. It seems they aren't satisifed with the taxes they will collect on your voluntary and mandatory withdrawals when that time comes.

Here come the black helicopters. I believe that was for IRAs over 10 million dollars. So, unless you are a CEO with stock options in your IRA that you got 50% below market value there is basically no way for your average investor to get there with current annual IRA annual limits. If you invested in Google or Apple and have over a million dollars, the tax is only on the portion over a 10 million dollars. Finally, I'm pretty sure that only came up because Romney was one of those "CEOs with said stock options", and it was a political way to have the press talk about rich Romney was. I haven't heard a peep, since the election.

[stlfisher]

Yup, mine went at 57 and never got to retire. I suppose if I was going to try and give a sliver of advise it would be to not intend to change your life now to enhance your later years, take all you can get when you can get it. By the way, my mother is 97, so you never know.

your right you don't want to be so extreme you don't enjoy life right now. Certianly no fun in that!

My grandma is 94 and my other grandparents passed away in their mid 90's...they remained indepent and able bodied for the most part. I am hoping I am that fortunate. 97 is awesome.

[stlfisher]

That's a good philosophy Stilfisher, save, invest, and plan for retirement. If you get there and decide you still want to work, that's fine, but if you've got a nest egg built up you have options. Lots of people when they are young say that they will work through old age, but when you get older you may not feel that way and you may also be battling the physical and/or mental issues that getting older can bring. Plan so you have choices.

Yeah, you just never now when a disability or illness may prevent you from working etc. As you mentioned choices.

[bfishn]

Plans, schmans. I'm retired for the next 4 days, my bills are paid, and I've got half a paycheck left. Whoooeee! Look out little dog, a big dog's movin' in.