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Investing/Strategies / Retirement Investing
|Subject: Re: Roth investing/withdrawing at 60||Date: 3/16/2012 11:20 AM|
|Author: ziggy29||Number: 70378 of 82283|
Let's get real here.
For MFJ, SS is not taxed if your taxable income is below $32,000
Between $32K & $44K it's taxed 50%.
Above $44K it's taxed 85%.
Unless you retire dirt-poor, your SS is going to be taxed at 85%.
Do you *really* want to have such a low income? <<
My 76-year-old mom is right around $44K a year. She lacks for nothing, has a paid off home, chooses to live simply and frugally, and has no problem at all living on that.
And that incomer includes over $10,000 in RMDs that she merely pulls out of an IRA and into a taxable account, never touching it.
Depending on how your life is configured and what your debts and expenses are, $44K isn't necessarily a "low income" lifestyle.
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