No. of Recommendations: 36
buyandwin writes,

<<Are you delaying SS until 70?>>

No. I started receiving SS when I was 62 because I needed it. Continued working part time until I was 70. Then I've been retired for 14+ years So that makes me 84+. My SS checks have gone down the past few years because I've been making too much money and they increased my Medicare payments which have reduced my monthly SS checks. I wasted my whole life working and didn't start to make real money until I retired at 70 in July 2003 and started investing in the market. The market has paid all my expenses including Taxes and Gifts to family members as I have no pension or other means of income.


Boy, I've seen that -- and it's terrible when it happens to a friend.

One of my occasional golf partners retired early from Exxon and never sold a share of stock in his 401k. Come age 70, he had an RMD North of $500,000/yr and the Medicare premium for him and his wife got jacked from about $200/month to $800/month. I told him that they're not cutting his Social Security -- they're just reducing the subsidy poorer taxpayers are giving him on his Medicare health insurance since he's wealthy and doesn't need it. It doesn't matter. He's inconsolable.

I vowed that would never happen to me. So I retired early in 1994 at age 38 once I realized I was "too rich, tall and handsome" to put up with the inconvenience of appearing in the office each day. I also started to whittle down the size of my IRA at age 40 with 72(t) penalty-free withdrawals and left my taxable account intact to grow for the next 20 years. I may still have an IRA at age 70 large enough to cause "RMD problems", but hopefully they'll be less severe.

When President Obama signed Obamacare into law in 2010, I was apparently one of the few people who actually "read the bill". I learned that you could have a $100 million stock portfolio and still get a big Obamacare tax subsidy if you reduce your dividend income. I've never been much of a dividend investor preferring to take my investment returns as capital gains. But I still spent the next 3 years retooling my portfolio to reduce what little dividend income I had to make it "Obamacare-ready". For 2017, I'm paying $54/month for a gold-plated Obamacare plan. I didn't have insurance this good when I worked for Exxon. <LOL>

Obamacare Repeal? My amazing story of drastically lower premiums.


My $10,000+ refundable Obamacare tax credit is enough to cover the fuel bill for the small aircraft I fly around the Pacific Northwest as a hobby. If you're complaining about Obamacare, you're doing your taxes wrong.

Reading and arithmetic are two life skills that are equally valuable when you're retired and living off your investment portfolio.

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