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Financial Planning / Tax Strategies
|Subject: Re: Tax Deferred Annuity right for me?||Date: 4/27/2013 7:25 PM|
|Author: inparadise||Number: 118517 of 120477|
The way the tax struxture is setup in this country encourges people not to be productive. i.e. To get more services, work less.
This makes no sense.
I understand what he is saying. My brother is the poster child for decreasing his hours to get things like reduced tuition for the private schools his kids went to. And a sister who decided that welfare was the way to go, intentionally choosing to get pregnant (without consulting the guy,) so that she could have an excuse to freeload off the system. After about 20 years of doing this she got tired of being poor and got a nursing degree, but she still games the system with limited hours. Did I mention she has a genius IQ? What a waste. Don't know what they are going to do for retirement.
And DH and I have chosen our own approach by working hard, earning a lot, saving most of it, investing hard, and looking to retire as soon as Youngest gets out of high school, allowing us to move to a much reduced COL. It will be very interesting to see what happens to our expected family contribution to college payments when we quit our day jobs, and focus on having fun. Or we could continue working 12 hour days and pay the $80,000/year in tuition that they expect us to pony up now. Granted the reason colleges cost that much is because all the "aid" out there allows them to do so, so those of us who choose to save and provide for our kids education pay our bill and then some.
Looking forward to no longer bucking the system and take advantage of the perks we get from most of our funds being in retirement accounts. Looking forward to no longer worrying that DH is going to die behind his desk. They say that sitting for long periods of time puts you at risk as much as smoking, and our retirement will be filled with hiking, fishing and kayaking. Looking forward to a 15% tax bracket instead of 33%, with time to actually enjoy a much reduced income.
front loading all the work and savings, not willing to continue to do so any longer than necessary
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